A 3.47% gross yield in the Core Central Region is unusual enough to stop an investor mid-scroll — and that is precisely the number Alegria's data produces (as of 2022-05). Most CCR addresses trade income away for prestige; this 12-unit freehold walk-up-scale development on Thomson Road, completed in 2005 by First Cencon Corporation, quietly inverts the pattern.
The catch arrives just as quickly. That yield figure rests on a single recorded sale — a one-bedroom unit that crossed at S$1.05 million, or S$1,573 per square foot, in 2022 — set against fourteen rental contracts averaging S$3,036 a month (as of 2022-05). One transaction is not a market; it is an anecdote with a caveat attached. No sale has been recorded since, so every valuation conversation at Alegria starts from a position of genuine uncertainty.
What the data does support is a picture of a small, older freehold in the Novena belt that rents steadily, sits 540m from an MRT station, and carries a Moderate en-bloc score of 57 — a profile that will interest two very different kinds of buyers for two very different reasons. This review takes both seriously.
In District 11's pricing hierarchy, Alegria sits low: the 23.2nd percentile on recorded PSF (as of 2022-05). The surrounding market makes the gap vivid. Freehold Watten House has averaged S$3,236 PSF and Pullman Residences Newton S$3,074 PSF, while freehold Peak Residence sits at S$2,489 PSF. Even the district's older 99-year stock — Soleil @ Sinaran at S$1,975 PSF and Amaryllis Ville at S$1,909 PSF — prices above Alegria's S$1,573 PSF print. Some of that discount reflects the 2005 vintage and low-rise format; some of it reflects a market that has simply never had enough transactions here to reprice the address.
Overview & Key Facts
ALEGRIA is a freehold condominium at THOMSON ROAD in District 11 (CCR), developed by FIRST CENCON CORPORATION PTE LTD, comprising 12 units, completed in 2005.
Location & Connectivity
ALEGRIA is approximately 540m from Novena MRT station, with 7 stations within 1.5 km.
Schools & Education
18 schools within 2 km (2 within 1 km priority zone).
| School | Type | Distance |
|---|---|---|
| St. Joseph's Institution | Secondary | 500m |
| New Town Primary School | Primary | 650m |
| Singapore Chinese Girls' School (Primary) | Primary | 1.0 km |
| CHIJ Our Lady Queen of Peace | Primary | 1.1 km |
| Anglo-Chinese School (Primary) | Primary | 1.1 km |
| St. Margaret's Primary School | Primary | 1.3 km |
| St. Margaret's Secondary School | Secondary | 1.3 km |
| Beatty Secondary School | Secondary | 1.4 km |
Market Position
ALEGRIA has recorded 1 sales at an average price of $1,050,000.
Ranks in the top 77% of condos in District 11 by average PSF.
Neighbourhood Comparison
| Condo | Tenure | Avg PSF | Sales |
|---|---|---|---|
| PULLMAN RESIDENCES NEWTON | Freehold | $3,074 psf | 288 |
| WATTEN HOUSE | Freehold | $3,236 psf | 180 |
| SOLEIL @ SINARAN | 99 yrs lease commencing from 2006 | $1,975 psf | 95 |
| PEAK RESIDENCE | Freehold | $2,489 psf | 90 |
| AMARYLLIS VILLE | 99 yrs lease commencing from 1997 | $1,909 psf | 74 |
What Could Work Against You
- With just 0 sales in the trailing year, pricing signals are indicative rather than definitive; expect wider bid-ask spreads when you negotiate.
- The 12-unit size cuts both ways: exclusivity, but thinner resale liquidity and higher per-unit maintenance contributions than larger estates.
Best suited for
Who This Actually Suits
This is a strong match for car-owning households, yield-focused investors, long-term hold (10+ yr) and freehold / generational hold. Parking and arterial road access matter more here than walking-distance MRT.
foreign / absd-aware buyers should treat this as a shortlist candidate, not a default choice.
short-term flippers (<5 yr) should probably look elsewhere. TOP 2005 keeps the SSD window in mind for buyers exploring the 3-5 year resale-arbitrage strategy.
The income story leads. Fourteen rental contracts, from S$2,300 to S$3,700 a month and averaging S$3,036, give Alegria a leasing record most 12-unit developments cannot match, and against the sole S$1.05 million sale print that implies a 3.47% gross yield (as of 2022-05). In a region where sub-2% yields are routine, that spread is the headline — though it should be re-verified against current asking prices using the ROI calculator rather than taken on faith from one comparable.
Connectivity is better than the low-rise profile suggests. Novena MRT on the North-South Line is 0.54km away, and Mount Pleasant on the Thomson-East Coast Line, opened in 2025, added a second option at 0.7km — a meaningful upgrade for an address that predates the line entirely. Toa Payoh (1.15km) and Newton interchange (1.21km) widen the net further, and a clinic sits just 128m from the door.
The school map is respectable: St. Joseph's Institution is 0.5km on foot, New Town Primary 0.65km, Singapore Chinese Girls' School (Primary) 1.02km, CHIJ Our Lady Queen of Peace 1.08km and Anglo-Chinese School (Primary) 1.14km. For a small development, that is a genuine family catchment.
Then there is the redevelopment angle. Alegria's en-bloc score of 57 carries a Moderate verdict — the strongest in its immediate data set — built on a 21-year-old building, a full score for its tiny 12-unit ownership base, and a prime CCR location. Small sites with few owners are structurally easier to assemble for collective sale, and freehold land on Thomson Road is exactly what redevelopers hunt. It is speculation, but it is grounded speculation, and the master plan map is the right place to study the surrounding zoning before weighing it.
Price discovery at Alegria is close to non-existent. One sale in the entire URA record, none since May 2022, and zero transactions in the trailing twelve months of data: buyers have no way to know whether S$1,573 PSF remains a fair anchor, and sellers have no evidence to argue otherwise (as of 2022-05). Financing can inherit the problem too — valuers working from a single stale comparable tend toward conservatism, which can force larger cash top-ups than buyers expect. Pressure-test your financing headroom with the affordability calculator before making an offer.
The yield that makes Alegria interesting is built on the same fragile base. A 3.47% figure derived from one 2022 sale print and an average rent could compress substantially if the true market value of units today is higher than that lone comparable suggests — or if rents at a 2005-vintage building drift as newer Novena stock competes for tenants.
Age and scale bring their own frictions. A 21-year-old, 12-unit development has a small maintenance fund base spread across very few owners, so any major repair — lifts, waterproofing, facade work — lands heavily on each household. And while the Moderate en-bloc score is a legitimate upside scenario, it is equally a warning: buyers who would not welcome a forced sale should remember that in a 12-unit strata scheme, a handful of neighbours can shape everyone's outcome.
- ✅ Yield-focused investors
- ✅ Long-term hold (10+ yr)
- ✅ Freehold / generational hold
- ✅ Boutique low-density (<100 units)
- ⚠️ Foreign / ABSD-aware buyers
- ❌ Short-term flippers (<5 yr)
Alegria is a special-situations buy. The mainstream case — a polished CCR condominium with liquid pricing — does not exist here, and pretending otherwise would mislead. What exists instead is a 12-unit freehold on Thomson Road with a rental engine that has produced fourteen contracts averaging S$3,036 a month, an implied 3.47% gross yield, and a Moderate en-bloc score of 57 that gives patient owners a second way to win (as of 2022-05).
Shortlist it if you are an income-first investor comfortable doing your own valuation work, or a long-horizon owner who wants freehold Novena-belt land with MRT access at 0.54km and a serious school cluster nearby. Price your offer from rental fundamentals and current district evidence on the price heatmap, not from the single 2022 print.
Pass if you need certainty — of valuation, of resale timing, or of maintenance costs at a small, ageing strata scheme. Alegria rewards buyers who treat it as what it is: a boutique yield-and-land play in a prime district, with the paperwork risks that accompany any thinly traded asset.
One closing discipline matters more here than in high-volume projects: fix your maximum before engaging agents; with listings this infrequent, the negotiating advantage belongs to buyers whose financing is already settled. The affordability calculator covers that arithmetic in a few minutes and costs nothing but attention.
FAQ
What is the average PSF for ALEGRIA?
Is ALEGRIA freehold?
What is the rental yield for ALEGRIA?
Which MRT is nearest to ALEGRIA?
Sources & Next Steps
- ALEGRIA Dashboard — Live charts and analytics
- URA REALIS — Official transaction data
- District 11 (Watten Estate, Novena, Thomson) — District 11 neighbourhood guide
Methodology & Sources
This analysis covers All available years and refreshes as new data becomes available.
Transaction data sourced from URA REALIS.
- Sales data: 1 transactions
- Rental data: 14 leases
- Source: URA REALIS
Median values used to minimise outlier impact. PSF = price per square foot.
Latest recorded data point: May 2022 · 1 records analysed · Source: URA private-sale caveats
Price Index Check
The ShiokNest Price Index for District 11 reads 121.2 as of June 2026 — up 1.7% year-on-year. The index tracks repeat-sales price movement, so it is less distorted by shifts in what happens to be transacting than a raw average PSF.
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HDB Alternatives Nearby
Weighing ALEGRIA against staying public? These HDB towns sit within walking or short-drive distance:
- Kallang/whampoa — 4-room average $882,887 (280m away), an upgrader gap of about $150,000
- Toa Payoh — 4-room average $929,793 (660m away), an upgrader gap of about $100,000