D3's Queenstown and Tiong Bahru deliver gross rental yields of 2.8–4.0% in 2026, with Stirling Residences, Queens Peak, and Commonwealth Towers outperforming the district average. Older mid-range projects edge past the luxury tier because lower entry PSF more than offsets their rent premium.
D3 — Tiong Bahru, Queenstown, Kampong Bahru corridor — has long been one of Singapore's most reliable rental catchment zones. Tenant base diverse and consistently strong: CBD professionals (finance/legal/tech in Tanjong Pagar and one-North) prize sub-20-minute MRT commute that Tiong Bahru/Queenstown MRT provide; expat couples on regional postings gravitate to D3's food culture, boutique retail, international schools in Queenstown Road; NUS and one-north spillover tenants.
D3's dual tenant profile = leases renewed steadily through year. Vacancy 4–5% (vs national ~7%).
D3 gross yield ~3.36% 2026, slightly above CCR avg (2.8–3.0%). Reflects D3's hybrid city-fringe positioning.
Greater Southern Waterfront (GSW) transformation (Keppel Club site, Pasir Panjang terminal repurposing) adds longer-horizon tailwind. New live-work-play nodes between Keppel and Labrador Park draw additional tenant cohorts over the next decade. Pipeline of newer completions (Riviere, Avenue South Residence, One Pearl Bank to secondary market 2022–2024) absorbing fresh secondary stock.
Rental yield is the rawest measure of cash-flow-to-capital efficiency in any condo purchase. In Singapore, gross yields typically range from 2.5% in the CCR to 4.5% in the OCR, with mass-market one-bedders often at the top of that band. This article ranks condos by recent rental and sales data to surface the highest-yielding options in the selected district — but remember that yield alone does not tell the whole story: liquidity, tenure, and capital appreciation matter too.
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District 3 (Tiong Bahru, Queenstown) is in Singapore's Rest of Central Region. We ranked all condos in this district by gross rental yield using the latest 24 months of sales data and 12 months of rental data to find the best income-generating properties.
Top Rental Yield Condos in District 3
| Condo | Avg PSF | Avg Price | Avg Rent | Gross Yield | Tenure |
|---|---|---|---|---|---|
| ALEXIS | $1,792 psf | $971,436 | $3,431/mo | 4.2% | Freehold |
| ECHELON | $2,157 psf | $1,829,982 | $5,567/mo | 3.7% | 99 yrs lease commencing from 2012 |
| THE REGENCY AT TIONG BAHRU | $2,351 psf | $2,237,760 | $6,551/mo | 3.5% | Freehold |
| ARTRA | $2,385 psf | $2,329,664 | $6,784/mo | 3.5% | 99 yrs lease commencing from 2016 |
| EMERALD PARK | $1,566 psf | $1,592,344 | $4,620/mo | 3.5% | 99 yrs lease commencing from 1991 |
| HIGHLINE RESIDENCES | $2,398 psf | $2,083,523 | $5,984/mo | 3.4% | 99 yrs lease commencing from 2013 |
| STIRLING RESIDENCES | $2,373 psf | $1,660,811 | $4,688/mo | 3.4% | 99 yrs lease commencing from 2017 |
| COMMONWEALTH TOWERS | $2,240 psf | $1,498,762 | $4,165/mo | 3.3% | 99 yrs lease commencing from 2013 |
| ALEX RESIDENCES | $2,223 psf | $1,732,639 | $4,799/mo | 3.3% | 99 yrs lease commencing from 2013 |
| RIVER PLACE | $1,803 psf | $1,913,882 | $5,247/mo | 3.3% | 99 yrs lease commencing from 1995 |
| QUEENS | $1,779 psf | $2,128,257 | $5,831/mo | 3.3% | 99 yrs lease commencing from 1998 |
| MERAPRIME | $2,048 psf | $2,482,099 | $6,685/mo | 3.2% | 99 yrs lease commencing from 2003 |
| DOMAIN 21 | $2,012 psf | $2,095,980 | $5,559/mo | 3.2% | 99 yrs lease commencing from 2004 |
| QUEENS PEAK | $2,210 psf | $1,669,595 | $4,414/mo | 3.2% | 99 yrs lease commencing from 2015 |
| THE CREST | $1,952 psf | $2,190,195 | $5,620/mo | 3.1% | 99 yrs lease commencing from 2012 |
Investment Considerations
- Gross vs net yield: Deduct maintenance fees (~$300–$800/mo), property tax, and agent commission (1 month) for a realistic net yield.
- Tenant demand: Higher yields often come from smaller units near MRT stations or business hubs — check vacancy rates.
- Capital appreciation: High-yield condos may have lower capital growth; balance yield with appreciation potential.
- Use the ROI Calculator to model your total return including leverage.
- Compare across districts with the District Comparison Tool.
D3 top yield projects (URA caveats 2024–Q1 2026):
| Project | Tenure | Median PSF | Median 2BR Rent | Gross Yield | MRT |
|---|---|---|---|---|---|
| Stirling Residences | 99-yr LH | $2,373 | $4,200 | ~3.76% | Queenstown (5 min) |
| Queens Peak | 99-yr LH | $2,210 | $3,900 | ~3.6% | Queenstown (3 min) |
| Commonwealth Towers | 99-yr LH | $2,240 | $3,850 | ~3.5% | Commonwealth (4 min) |
| One Pearl Bank | 99-yr LH | $2,425 | $4,100 | ~3.5% | Outram Park (6 min) |
| Avenue South Residence | 99-yr LH | $2,261 | $3,700 | ~3.3% | Havelock (7 min) |
| Riviere | FH (999-yr) | $2,942 | $5,200 | ~2.7% | Havelock (5 min) |
Stirling Residences leads ~3.76% — Queenstown MRT-adjacent + disciplined secondary market. 1,259-unit liquidity. Queens Peak and Commonwealth Towers 3.5–3.6%. One Pearl Bank higher absolute rents but premium PSF compresses yield. Avenue South Residence Havelock fringe yield respectable at 3.3%. Riviere outlier at 2.7% — wealth-preservation/capital-appreciation asset.
- Target Stirling–Queens Peak corridor first. 3.6–3.76% yields with MRT + liquidity.
- Underwrite at net yield not gross. 0.8–1.2pp drag from fees/tax/maintenance.
- Check vacancy at project level. Multiple large D3 projects compete — request rolling 6-month lease counts.
- Factor GSW optionality. 7–10 year horizon may see capital appreciation compound yield.
- Prefer leasehold over freehold for pure yield.
- Consult CEA-registered property professional.
Methodology & Sources
This analysis covers full-year 2026 data and refreshes one-time.
Transaction data sourced from URA REALIS.
- Sales data: URA REALIS (past 24 months, min 2 transactions per condo)
- Rental data: URA REALIS (past 12 months, min 2 leases per condo)
- Gross yield = (avg monthly rent × 12) / avg transaction price × 100
Median values used to minimise outlier impact. PSF = price per square foot.
Frequently Asked Questions
What is a good gross rental yield in Singapore?
Why does yield matter more than capital gain?
Should I buy freehold or leasehold for rental yield?
What is D3 average rental yield 2026?
~3.36% gross. Best-performing leasehold projects 3.5–3.76%.
Which D3 condo has highest yield?
Stirling Residences ~3.76%, Queens Peak ~3.6%, Commonwealth Towers ~3.5%.
Why does Riviere have lower yield despite high rents?
Median sale PSF $2,942 vs leasehold peers $2,210–$2,425. Freehold premium baked into capital value, compresses income return.
How does GSW affect rental demand?
Brings additional live-work-play nodes, commercial activity, population over next decade. Gradually expand tenant catchment.
What flat size best yield?
2BR (700–850 sqft) consistently highest leasing velocity. Appeal to professional couples and dual-income tenants.
D3 vs D9/D10 yields?
D3 generally outperforms D9/D10 (2.3–2.8%). Prime CCR sale PSF significantly higher without proportional rents.