In a district where the marquee launches have averaged S$2,400 to S$2,800 per square foot, one Koon Seng Road freehold still changes hands below S$1,130 PSF. Alpha Apartments, a 22-unit development completed in 2005 by Everspring Property, is priced at the 5.4th percentile of District 15 — very nearly the cheapest recorded pricing in the entire Katong-Joo Chiat belt (as of 2026-05).
That kind of discount always has a story. Part of it is vintage: a 21-year-old low-rise with floors spanning one to five, competing against glass-tower new launches. Part of it is thinness: just three sales in the record, two from 2021 at an average S$1.33 million and one from 2026 — a five-bedder at S$2.65 million — which crossed at S$1,075 PSF, marginally below the 2021 average (as of 2026-05).
But the location underneath is prime Katong: a heritage street, a hawker centre within 475m, and a school catchment that includes some of the East's most contested Primary 1 ballots. The interesting question is not whether Alpha Apartments is cheap — it demonstrably is — but whether the cheapness is a bargain or a verdict. The honest answer is: some of each.
The gap between Alpha Apartments and the rest of District 15 is the widest in this review series. Grand Dunman has averaged S$2,536 PSF across 912 sales, Emerald of Katong S$2,640 PSF, freehold The Continuum S$2,790 PSF, Tembusu Grand S$2,467 PSF and freehold Amber Park S$2,548 PSF — while Alpha Apartments' three recorded sales average S$1,094 PSF (as of 2026-05). Even granting the vintage and low-rise format, a freehold Katong address trading at roughly two-fifths of the district's new-launch benchmarks is an outlier, and the 5.4th-percentile ranking makes it the value floor of its own neighbourhood.
Overview & Key Facts
ALPHA APARTMENTS is a freehold condominium at KOON SENG ROAD in District 15 (RCR), developed by EVERSPRING PROPERTY PTE LTD, comprising 22 units, completed in 2005.
Location & Connectivity
ALPHA APARTMENTS is approximately 930m from Eunos MRT station, with 4 stations within 1.5 km.
| Station | Line | Distance |
|---|---|---|
| Eunos | East-West Line | 930m |
| Marine Parade | Thomson-East Coast Line | 1.0 km |
| Marine Terrace | Thomson-East Coast Line | 1.1 km |
| Kembangan | East-West Line | 1.3 km |
Schools & Education
13 schools within 2 km (8 within 1 km priority zone).
| School | Type | Distance |
|---|---|---|
| Tanjong Katong Girls' School | Secondary | 610m |
| Canadian International School (Tanjong Katong) | International | 650m |
| Broadrick Secondary School | Secondary | 710m |
| EtonHouse International School (Broadrick) | International | 710m |
| Canossa Catholic Primary School | Primary | 730m |
| CHIJ (Katong) Primary | Primary | 870m |
| Telok Kurau Primary School | Primary | 900m |
| Tao Nan School | Primary | 930m |
Unit Mix & Pricing
| Type | Sales | Avg PSF | Avg Price |
|---|---|---|---|
| 3 BR | 2 | $1,103 psf | $1,325,000 |
| 5+ BR | 1 | $1,075 psf | $2,650,000 |
Market Position
ALPHA APARTMENTS has recorded 3 sales at an average price of $1,766,667.
Ranks in the top 95% of condos in District 15 by average PSF.
Price Appreciation
| Year | Sales | Avg PSF | YoY |
|---|---|---|---|
| 2021 | 2 | $1,103 psf | — |
| 2026 | 1 | $1,075 psf | ↓ 2.5% |
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Neighbourhood Comparison
| Condo | Tenure | Avg PSF | Sales |
|---|---|---|---|
| GRAND DUNMAN | 99 yrs lease commencing from 2022 | $2,536 psf | 912 |
| EMERALD OF KATONG | 99 yrs lease commencing from 2023 | $2,640 psf | 844 |
| THE CONTINUUM | Freehold | $2,790 psf | 781 |
| TEMBUSU GRAND | 99 yrs lease commencing from 2022 | $2,467 psf | 644 |
| AMBER PARK | Freehold | $2,548 psf | 396 |
What Could Work Against You
- With just 1 sales in the trailing year, pricing signals are indicative rather than definitive; expect wider bid-ask spreads when you negotiate.
- The 22-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
Buyers most likely to be happy here: car-owning households, p1 school balloting families, international school families and long-term hold (10+ yr). Parking and arterial road access matter more here than walking-distance MRT.
wfh / hybrid workers and yield-focused investors should treat this as a shortlist candidate, not a default choice.
It is a weaker fit for resort facilities — other options likely serve them better. Resort-grade amenity stack including multiple pools, clubhouse, and recreational facilities.
One caution flagged here: avoid if mrt-dependent — MRT access is meaningfully constrained — transit-dependent buyers should consider better-connected alternatives.
Price of entry is the obvious lead. At an average S$1,094 PSF against a district running S$2,400-plus for new stock, Alpha Apartments offers freehold Katong space at a structural discount — the 2021 three-bedder average of S$1.33 million bought what many district newcomers now pay for a compact two-bedder (as of 2026-05). For a buyer prioritising square footage per dollar in the East, the arithmetic is hard to argue with.
The school geography carries real weight. CHIJ (Katong) Primary is 0.87km away and Tao Nan School 0.93km — both inside the 1km band that materially improves Primary 1 balloting odds, a fact the persona data flags directly. Tanjong Katong Girls' School (0.61km), the Canadian International School's Tanjong Katong campus (0.65km), EtonHouse (0.71km), Canossa Catholic Primary (0.73km) and Telok Kurau Primary (0.9km) deepen the bench for both local and international routes.
The rental engine works. Eighteen recorded contracts from S$2,350 to S$7,500 a month, averaging S$4,436, translate into a gross yield of roughly 3.01% (as of 2026-05) — solid for a freehold, and far healthier than the sub-1.5% yields common at the district's premium developments. Run the numbers through the ROI calculator and Alpha Apartments profiles as that unusual thing: a freehold with investor-grade income.
Transit improved around it. Eunos on the East-West Line (0.93km) was long the only rail option, but the Thomson-East Coast Line's 2024 openings added Marine Parade at 1.01km and Marine Terrace at 1.06km, tilting the whole Koon Seng pocket closer to the network. A hawker centre within 475m, a park and clinic within 525m, and the Joo Chiat conservation streetscape complete a daily-life package the walkability score map rates at 65 for the address.
The stagnation in the price record demands attention. The 2021 sales averaged S$1,103 PSF; the sole 2026 sale crossed at S$1,075 PSF (as of 2026-05). Over the same window, the district's new launches were transacting at more than double that level. Three data points cannot prove a trend, but they are consistent with a hard truth about ageing boutique stock: the district's appreciation has largely flowed past this building rather than through it. Buyers hoping the discount closes on its own may wait a long time.
Liquidity is correspondingly thin. Three sales in the full record, one transaction in the trailing twelve months, and a 22-unit base mean exits are slow and valuation-sensitive. A seller in a hurry here has very little market to sell into, and a buyer's bank valuation will lean on scarce, dated comparables.
Age is the third cost centre. At 21 years old, units will typically need renovation budgets on top of the purchase price, and the small owner base shares any building-level repair bills across just 22 households. The en-bloc score of 52 (Moderate) keeps redevelopment on the long-range radar — the 21-year building age and full unit-count score help — but it is not a plan a buyer can bank on. Factor renovation and holding costs into the true total with the total cost calculator before concluding the discount is as wide as it looks.
- ✅ P1 school balloting families
- ✅ International school families
- ✅ Freehold / generational hold
- ✅ Boutique low-density (<100 units)
- ✅ Car-owning households
- ⚠️ Yield-focused investors
Alpha Apartments is the value-floor play of the Katong market, and it should be bought — or declined — on exactly those terms. The S$1,094 PSF average is not a mispricing waiting to correct; it reflects a 21-year-old low-rise whose recorded prices have moved sideways while the district sprinted (as of 2026-05). What the discount buys is real, though: freehold tenure, family-scale space, a 3.01% gross yield, and a school catchment that includes Tao Nan and CHIJ (Katong) inside the balloting band.
The natural shortlister is a family playing the long game — Primary 1 registration in two years, renovation over the first six months, a decade of Katong life thereafter — or an income investor who wants freehold stock that actually pays. Both should price in renovation and assume slow capital growth; the reward profile here is utility and yield, not momentum.
Flippers and momentum buyers should stay away: one transaction a year and a sideways PSF record is a hostile environment for a quick exit. Before offering, weigh Alpha Apartments directly against the district's newer freeholds on the comparison tool — if the premium stock's growth continues to bypass the vintage stock, the gap you are buying into may be the gap you eventually sell into.
One closing discipline matters more here than in high-volume projects: at 3.01% gross (as of 2026-05), the income case only survives contact with real outgoings if your entry price is disciplined — model the net position before viewing, not after. The cash-flow calculator covers that arithmetic in a few minutes and costs nothing but attention.
FAQ
What is the average PSF for ALPHA APARTMENTS?
Is ALPHA APARTMENTS freehold?
What is the rental yield for ALPHA APARTMENTS?
Which MRT is nearest to ALPHA APARTMENTS?
Sources & Next Steps
- ALPHA APARTMENTS Dashboard — Live charts and analytics
- URA REALIS — Official transaction data
- District 15 (Joo Chiat, Amber Road, Katong) — District 15 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: 3 transactions
- Rental data: 18 leases
- Source: URA REALIS
Median values used to minimise outlier impact. PSF = price per square foot.
Latest recorded data point: May 2026 · 3 records analysed · Source: URA private-sale caveats
Price Index Check
The ShiokNest Price Index for District 15 reads 117.7 as of June 2026 — down 9.0% 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 ALPHA APARTMENTS against staying public? These HDB towns sit within walking or short-drive distance:
- Geylang — 4-room average $761,443 (750m away), an upgrader gap of about $1,000,000
- Marine Parade — 4-room average $648,065 (900m away), an upgrader gap of about $1,100,000
- Bedok — 4-room average $659,895 (1.4 km away), an upgrader gap of about $1,100,000