Nova 48
Located in District 12 (Toa Payoh, Serangoon, Balestier), Nova 48 is a freehold condominium in the Rest of Central Region (RCR). Completed in 2012, the development comprises 48 units. Sale and rental figures on this page are compiled from URA transaction records.
Overview & Key Facts
NOVA 48 is a freehold condominium at PROME ROAD in District 12 (RCR), developed by ROXY HOMES PTE LTD, comprising 48 units, completed in 2012.
Location & Connectivity
NOVA 48 is approximately 770m from Novena MRT station, with 2 stations within 1.5 km.
Schools & Education
24 schools within 2 km (4 within 1 km priority zone).
| School | Type | Distance |
|---|---|---|
| CHIJ Our Lady Queen of Peace | Primary | 690m |
| Beatty Secondary School | Secondary | 760m |
| CHIJ Secondary (Toa Payoh) | Secondary | 930m |
| School of Science and Technology | JC | 930m |
| Balestier Hill Primary School | Primary | 1.2 km |
| Saint Joseph's Institution International | International | 1.3 km |
| New Town Primary School | Primary | 1.3 km |
| St. Joseph's Institution | Secondary | 1.4 km |
Unit Mix & Pricing
| Type | Sales | Avg PSF | Avg Price |
|---|---|---|---|
| 2 BR | 5 | $1,726 psf | $1,563,960 |
| 3 BR | 5 | $1,691 psf | $1,844,000 |
Market Position
NOVA 48 has recorded 10 sales at an average price of $1,703,980.
Rental Yield by Bedroom Type
Blended yield hides the spread between unit sizes — smaller units at NOVA 48 typically rent harder per dollar of purchase price. The final column shows monthly rent per $100,000 invested, so unit sizes compare on equal capital:
| Type | Avg Rent | Avg Price | Gross Yield | Rent per $100k |
|---|---|---|---|---|
| 2 BR | $4,043/mo | $1,563,960 | 3.10% | $259/mo |
| 3 BR | $4,460/mo | $1,844,000 | 2.90% | $242/mo |
Loading chart data...
Price Appreciation
| Year | Sales | Avg PSF | Change |
|---|---|---|---|
| 2022 | 1 | $1,577 psf | — |
| 2023 | 4 | $1,695 psf | ↑ 7.5% |
| 2024 | 3 | $1,730 psf | ↑ 2.1% |
| 2025 | 2 | $1,768 psf | ↑ 2.2% |
Loading chart data...
NOVA 48 prices sit at a fresh series high after a 2.2% gain on the prior period, now 12.2% above the 2022 starting level.
Price Index Check
The ShiokNest Price Index for District 12 reads 147.7 as of June 2026 — up 14.3% 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.
Loading chart data...
Neighbourhood Comparison
| Condo | Tenure | Avg PSF | Sales |
|---|---|---|---|
| THE ORIE | 99 yrs lease commencing from 2024 | $2,730 psf | 741 |
| EIGHT RIVERSUITES | 99 yrs lease commencing from 2011 | $1,649 psf | 312 |
| GEM RESIDENCES | 99 yrs lease commencing from 2015 | $1,845 psf | 202 |
| TREVISTA | 99 yrs lease commencing from 2008 | $1,711 psf | 150 |
| VERTICUS | Freehold | $2,127 psf | 131 |
What Could Work Against You
- Only 2 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 48 units, this is a boutique development — fewer comparable sales to anchor valuations, and maintenance costs spread across a smaller fee base.
Best suited for
Who This Actually Suits
Buyers most likely to be happy here: car-owning households, yield-focused investors, long-term hold (10+ yr) and freehold / generational hold. At ~772m from the nearest MRT, this property suits households with a car who value arterial road access over transit proximity.
It is a weaker fit for short-term flippers (<5 yr) and resort facilities — other options likely serve them better. TOP 2012 keeps the SSD window in mind for buyers exploring the 3-5 year resale-arbitrage strategy.
Verdict
NOVA 48 is a freehold development in District 12 (RCR), with 48 units, offering a gross yield of 3.0%.
At ~$1,768 psf, it sits at a city-fringe price point balancing accessibility and value.
Explore the full NOVA 48 dashboard for interactive analytics.
HDB Alternatives Nearby
Weighing NOVA 48 against staying public? These HDB towns sit within walking or short-drive distance:
- Kallang/whampoa — 4-room average $882,887 (440m away), an upgrader gap of about $800,000
- Toa Payoh — 4-room average $929,793 (740m away), an upgrader gap of about $750,000
- Central Area — 4-room average $1,088,814 (1.8 km away), an upgrader gap of about $600,000
FAQ
What is the average PSF for NOVA 48?
Is NOVA 48 freehold?
What is the rental yield for NOVA 48?
Which MRT is nearest to NOVA 48?
Sources & Next Steps
- NOVA 48 Dashboard — Live charts and analytics
- URA — Official transaction data
- District 12 (Toa Payoh, Serangoon, Balestier) — District 12 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: 10 transactions
- Rental data: 65 leases
- Source: URA
Median values used to minimise outlier impact. PSF = price per square foot.
Latest recorded data point: Oct 2025 · 10 records analysed · Source: URA private-sale caveats