Parc Vera
Overview & Key Facts
Parc Vera is a 452-unit condominium at Hougang Street 32 in District 19, completed in 2014 by Sim Lian Group. If The Minton down the road is the mega-development that dominates neighbourhood conversation, Parc Vera is its quieter, more compact counterpart — a mid-sized development that attracts residents who want private condo living in Hougang without the scale of a 1,000-unit project.
Sim Lian is a developer known for practical, value-oriented projects in the heartland — their portfolio includes Clover by the Park in Bishan and Treasure at Tampines, Singapore’s largest condo by unit count. Parc Vera follows this template: sensible layouts, competitive pricing, and a location that prioritises neighbourhood convenience over prestige. At an average PSF of ~$1,452, it sits firmly in the affordable OCR bracket.
The development’s resident community includes a notable expat contingent, drawn by the combination of reasonable rents, family-friendly surroundings, and proximity to the Kallang-Paya Lebar Expressway for east-side commutes. The 3.4% rental yield confirms the steady demand from this tenant base.
Location & Connectivity
Parc Vera’s location on Hougang Street 32 places it in a mature residential estate between Hougang and Defu. The nearest MRT stations are Defu (CR7) and Hougang (CR8) on the upcoming Cross Island Line, which will significantly improve rail connectivity when operational. Currently, the nearest functioning MRT is Hougang on the North-East Line, roughly 1.5 km away — not a comfortable daily walk, making bus or car the default commute mode.
For drivers, the Kallang-Paya Lebar Expressway (KPE) is immediately accessible, connecting to the CBD in approximately 20 minutes. The Central Expressway (CTE) is also reachable via Hougang Avenue 3, providing northbound access to the rest of the island.
Daily amenities are genuinely convenient. A neighbourhood centre sits directly opposite the development, housing a Sheng Siong supermarket, eateries, and everyday shops. Hougang Mall and Heartland Mall at Kovan are within a short drive. The Punggol Park Connector starts nearby, offering a well-maintained route for cycling and running along the Serangoon River.
Schools & Education
3 primary schools within the 1 km Priority Phase balloting radius.
| School | Type | Distance |
|---|---|---|
| Hougang Primary School | primary | Within 1 km |
| Hougang Secondary School | secondary | Within 1 km |
| St. Gabriel's Primary School | primary | Within 1 km |
| Holy Innocents' Primary School | primary | Within 1 km |
| Holy Innocents' High School | secondary | ~1.1 km |
| Montfort Secondary School | secondary | ~1.3 km |
| Montfort Junior School | primary | ~1.4 km |
| Xinmin Primary School | primary | ~1.4 km |
Facilities
Parc Vera offers a standard but well-maintained set of condo facilities. The lap pool serves as the centrepiece, accompanied by a children’s pool, jacuzzi, pool pavilion, and sun decks. The clubhouse contains a gymnasium, function rooms, and social spaces. Outdoor amenities include a tennis court, BBQ area, children’s playground, and landscaped gardens. Basement parking provides shelter for vehicles.
“Awesome place. Fantastic facilities. Expat living with a touch of class on a reasonable budget. A gem nestled away in Hougang quietly.”
— Resident review via Singapore Expats
The facilities are adequate for the development’s size and price point, but they are not the reason you buy here. There is no indoor sports hall, no elaborate waterplay features, and no sky terrace. What exists is clean, functional, and well-kept — which, frankly, is more important than having 50 amenities of which half are poorly maintained.
Unit Sizes & Layout
The unit mix spans one- to four-bedroom configurations, with the two- and three-bedroom units forming the bulk of inventory. Three-bedroom units in the 1,000–1,100 sqft range are the sweet spot for families, offering a practical layout with a decent-sized living/dining area. The larger four-bedrooms provide genuine family-scale living with separate utility and helper’s areas.
Higher-floor units enjoy views toward Paya Lebar Airbase (still active as of 2026), which provides an unusual open-sky vista that most urban condos cannot match. Some residents note you can see aircraft operations from the balcony — entertaining for aviation enthusiasts, potentially noisy for others. Once the airbase eventually relocates under the Paya Lebar redevelopment plans, this vista will change dramatically.
| Bedrooms | Transactions | Avg PSF | Avg Price |
|---|---|---|---|
| 2 BR | 46 | $1,276 | $1,036,908 |
| 3 BR | 29 | $1,288 | $1,486,230 |
| 4 BR | 5 | $1,356 | $1,911,600 |
| 5 BR | 7 | $926 | $3,021,286 |
Pricing & Market Position
Based on 87 recorded transactions, sale prices range from $790,000 to $3,399,000, averaging $1,396,614 (~$1,428 psf).
Rents range from $1,500 to $8,000 per month across 292 rental transactions. Current rental yield sits at approximately 3.2%.
Price Appreciation
From 2021 to 2026, the average PSF has appreciated by 25.6% (from $1,044 to $1,312 psf).
Neighbourhood Comparison
The Minton (1,145 units, 99-year from 2007) is the natural comparison: it offers vastly superior facilities and larger units, but at a slightly higher PSF with a shorter remaining lease. For buyers who want the full resort experience, The Minton wins. For those who prefer a quieter development at a lower entry cost, Parc Vera is the more measured choice.
Kovan Regency (188 units, 99-year from 2010) near Kovan MRT trades size for MRT proximity and a boutique scale. High Park Residences in Sengkang and Parc Greenwich in Punggol are newer OCR alternatives at higher PSF but with fresher leases and more contemporary finishings. For buyers committed to the Hougang/Serangoon area, Parc Vera’s value case is strongest when paired with the Cross Island Line timeline.
| Development | Tenure | TOP | Units | ~Avg PSF |
|---|---|---|---|---|
| PARC VERA | 99 yrs lease commencing from 2010 | 2015 | 452 | $1,428 |
| CHUAN PARK | 99 yrs lease commencing from 2024 | 2024 | 916 | $2,596 |
| THE FLORENCE RESIDENCES | 99 yrs lease commencing from 2018 | 2021 | 1,410 | $1,746 |
| RIVERFRONT RESIDENCES | 99 yrs lease commencing from 2018 | 2021 | 1,451 | $1,589 |
| AFFINITY AT SERANGOON | 99 yrs lease commencing from 2018 | 2021 | 1,012 | $1,699 |
| SERANGOON GARDEN ESTATE | Freehold | 2021 | — | $1,735 |
Lease Decay Analysis
The 99-year lease runs from 2010, meaning approximately 16 years have already been consumed. Roughly 83 years remain — still comfortably within the range where most banks will offer full financing without restrictions.
| Year | Lease remaining | Implication |
|---|---|---|
| 2026 (now) | ~83 years | Full bank financing available |
| 2040 | ~69 years | CPF usage still unrestricted for most buyers |
| 2049 | ~59 years | Approaching 60-year threshold — CPF limits begin for some |
| 2069 | ~39 years | Significant financing restrictions for next buyer |
| 2109 | Expiry | Lease reverts to state |
For a buyer purchasing today with a 10-year horizon (exit around 2036), the lease situation is essentially a non-issue — you’d be selling a property with ~73 years remaining, which is still very bankable. The risk profile changes for longer holds.
ShiokNest Scores
Our proprietary scoring system evaluates PARC VERA across multiple dimensions.
What Residents Say
“A condo with great location, directly opposite one of the latest neighbourhood centres with eateries, Sheng Siong and many shops. Starting point of the PCN with beautiful views for cycling and running.”
— Resident review via 99.co
“Beautiful condominium. New, spacious and set amongst quiet and trees without being too disconnected.”
— Resident review via Singapore Expats
“Very noisy. Frequent fogging and grass trimming with loud motor sounds that could last for whole morning. Shops are a bit away, nearest public transport is by bus.”
— Resident review via 99.co
Resident feedback centres on two strengths — the neighbourhood centre convenience and the park connector access — and two weaknesses — daytime maintenance noise and limited public transport. The absence of an MRT within comfortable walking distance is the most frequently cited frustration, though this should improve with the Cross Island Line.
Strengths & Weaknesses
- Affordable OCR entry at ~$1,452 psf in District 19
- Neighbourhood centre directly opposite — Sheng Siong, eateries, shops
- Punggol Park Connector accessible for cycling and jogging
- Cross Island Line (Defu MRT) will add rail connectivity
- 3.4% rental yield — competitive for OCR leasehold
- Mid-sized 452-unit development — more intimate than mega-condos
- Well-maintained facilities with responsive management
- KPE expressway access for quick CBD commute by car
- Notable expat resident community
- Open-sky views toward Paya Lebar Airbase from higher floors
- No MRT within walking distance currently — bus or car required
- 99-year lease from 2010 (~83 years remaining)
- Daytime maintenance noise from landscaping equipment
- Basic facility set — no indoor sports, no sky terrace
- Limited retail and dining within the immediate compound
- Some road-facing units affected by KPE traffic noise
- Paya Lebar Airbase operations may affect some units (until relocation)
- Lower PSF appreciation historically vs better-connected peers
Verdict
Parc Vera is a no-frills, value-oriented proposition in Hougang. At ~$1,452 psf, it is one of the more affordable private condo options in District 19, undercut only by older developments with less remaining lease. The 3.4% rental yield is competitive for an OCR leasehold, and the Cross Island Line will add rail connectivity that the development currently lacks.
Compared to The Minton nearby, Parc Vera trades scale and facilities for a lower price point and a more intimate community. Families who find The Minton’s 1,145 units overwhelming may prefer Parc Vera’s 452-unit scale, while those who prioritise resort-style amenities will lean the other way. Kovan Regency, closer to Kovan MRT, offers better current rail access but at a higher PSF.
For own-stay buyers, Parc Vera delivers solid heartland living with genuine neighbourhood convenience. For investors, the Cross Island Line thesis is the key catalyst — but the timeline is uncertain, and the lease (99 years from 2010, ~83 years remaining) means the holding period matters. This is a buy-and-hold play for patient owners, not a quick-flip proposition.