Overview & Key Facts
CHESTNUT GARDENS is a 999 yrs lease commencing from 1882 condominium at CHESTNUT GARDENS in District 23 (OCR), developed by SIANG HOW REALTY PTE LTD, comprising 30 units, completed in 1993.
Location & Connectivity
CHESTNUT GARDENS is approximately 540m from Cashew MRT station, with 7 stations within 1.5 km.
| Station | Line | Distance |
|---|---|---|
| Cashew | Downtown Line | 540m |
| Hillview | Downtown Line | 750m |
| Pending | Bukit Panjang LRT | 800m |
| Petir | Bukit Panjang LRT | 1 km |
| Bukit Panjang | Downtown Line | 1.2 km |
| Bukit Panjang | Bukit Panjang LRT | 1.2 km |
Schools & Education
8 schools within 2 km (1 within 1 km priority zone).
| School | Type | Distance |
|---|---|---|
| Pei Hwa Presbyterian Primary School | Primary | 980m |
| Bukit Panjang Government High School | Secondary | 1.4 km |
| Fajar Secondary School | Secondary | 1.4 km |
| Springdale Primary School | Primary | 1.5 km |
| Bukit Panjang Primary School | Primary | 1.5 km |
| Xishan Primary School | Primary | 1.6 km |
| Greenridge Secondary School | Secondary | 1.7 km |
| Zhenghua Primary School | Primary | 2 km |
Market Position
CHESTNUT GARDENS has recorded 5 sales at an average price of $5,342,778.
Price Appreciation
| Year | Sales | Avg PSF | YoY |
|---|---|---|---|
| 2021 | 1 | $1,097 psf | — |
| 2022 | 2 | $1,825 psf | ↑ 66.4% |
| 2023 | 1 | $1,701 psf | ↓ 6.8% |
| 2025 | 1 | $1,458 psf | ↓ 14.3% |
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CHESTNUT GARDENS prices have cooled 20.1% from the 2022 peak, yet remain 33.0% above where the series began in 2021.
Price Index Check
The ShiokNest Price Index for District 23 reads 128.2 as of June 2026 — up 3.6% 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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Neighbourhood Comparison
| Condo | Tenure | Avg PSF | Sales |
|---|---|---|---|
| SOL ACRES | 99 yrs lease commencing from 2014 | $1,389 psf | 568 |
| MIDWOOD | 99 yrs lease commencing from 2018 | $1,736 psf | 544 |
| LUMINA GRAND | 99 yrs lease commencing from 2022 | $1,515 psf | 512 |
| DAIRY FARM RESIDENCES | 99 yrs lease commencing from 2018 | $1,660 psf | 458 |
| THE MYST | 99 yrs lease commencing from 2023 | $2,093 psf | 390 |
Lease Analysis
With 66 years remaining on its 99-year lease, CHESTNUT GARDENS still qualifies for full bank financing and CPF usage.
What Could Work Against You
- Only 1 transactions were recorded in the past 12 months, so the price figures here rest on a thin sample — a single outlier deal can move the averages.
- At 30 units, this is a boutique development — fewer comparable sales to anchor valuations, and maintenance costs spread across a smaller fee base.
- Completed in 1993, the development is over 33 years old — budget for rising maintenance, dated M&E systems, and the possibility that value increasingly rests on en-bloc potential rather than the units themselves.
Best suited for
Who This Actually Suits
Buyers most likely to be happy here: car-owning households, wfh / hybrid workers, nature / park-fronting and long-term hold (10+ yr). At ~535m from the nearest MRT, this property suits households with a car who value arterial road access over transit proximity.
en-bloc speculators and foreign / absd-aware buyers should treat this as a shortlist candidate, not a default choice.
It is a weaker fit for yield-focused investors — other options likely serve them better. OCR (Outside Central Region) location with rental demand profile worth running through our Rental Yield Calculator.
Verdict
CHESTNUT GARDENS is a 999 yrs lease commencing from 1882 development in District 23 (OCR), with 30 units, offering a gross yield of 1.8%.
At ~$1,458 psf, it represents a competitive entry point in the OCR segment.
Explore the full CHESTNUT GARDENS dashboard for interactive analytics.
HDB Alternatives Nearby
Weighing CHESTNUT GARDENS against staying public? These HDB towns sit within walking or short-drive distance:
- Bukit Panjang — 4-room average $581,903 (550m away), an upgrader gap of about $4,750,000
- Choa Chu Kang — 4-room average $559,427 (1.6 km away), an upgrader gap of about $4,800,000
- Bukit Batok — 4-room average $626,224 (1.8 km away), an upgrader gap of about $4,700,000
FAQ
What is the average PSF for CHESTNUT GARDENS?
Is CHESTNUT GARDENS freehold?
What is the rental yield for CHESTNUT GARDENS?
Which MRT is nearest to CHESTNUT GARDENS?
Sources & Next Steps
- CHESTNUT GARDENS Dashboard — Live charts and analytics
- URA REALIS — Official transaction data
- District 23 (Choa Chu Kang, Dairy Farm, Hillview, Bukit Panjang) — District 23 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: 5 transactions
- Rental data: 5 leases
- Source: URA REALIS
Median values used to minimise outlier impact. PSF = price per square foot.
Latest recorded data point: Jul 2025 · 5 records analysed · Source: URA private-sale caveats