Treasure Crest
When Sim Lian launched Treasure Crest along Anchorvale Crescent in 2015, buyers were paying roughly $860 psf at launch — a figure that now reads like a relic from a different market era. Fast-forward to May 2026 and resale units are clearing between $1,429 and $1,672 psf, with a trailing 12-month average of ~$1,543 psf (as of 2026-05), delivering early buyers gains that rival many full private condominiums in the Outside Central Region.
Treasure Crest occupies a 99-year leasehold site that commenced in 2015, putting the development comfortably within the window where lease decay has barely begun to bite. The MOP clock stopped in September 2023, meaning every unit in all 504 homes is now freely transactable on the open resale market to Singapore Citizens and Permanent Residents — and full privatisation to foreigners follows in September 2028. That dual catalyst is not hypothetical: it is calendared and approaching, which makes right now a meaningful inflection point for both buyers and sellers. This review breaks down what Treasure Crest genuinely delivers, where it falls short, and who it suits best (as of 2026-05).
Overview & Key Facts
Treasure Crest is a 504-unit Executive Condominium (EC) by Sim Lian (Anchorvale) Pte Ltd, located along Anchorvale Crescent in Sengkang, District 19. The development obtained its Temporary Occupation Permit (TOP) in September 2018, on a 99-year lease commencing 2015, giving it approximately 88 years remaining as of 2026. Eight residential blocks of up to 17 storeys are arranged around a central facilities zone on a 17,450 sqm site designed for predominantly north-south orientation to minimise afternoon sun exposure.
Sim Lian Group is one of Singapore’s most pragmatic and family-oriented developers — known for large kitchen yards, space-efficient layouts with generously sized bedrooms, and quality branded fittings. At Treasure Crest, that philosophy is expressed through Bosch kitchen appliances, Hansgrohe sanitaryware, and Mitsubishi Electric air-conditioning across all unit types. The finishing standard sits comfortably above EC norms without reaching private-condominium luxury — exactly what families at this price point expect from Sim Lian.
As of April 2026, Treasure Crest is resale-eligible but not yet fully privatised. The unit mix is deliberately family-focused: 84 three-bedroom units (958 sqft), 364 three-bedroom premium units (1,076–1,249 sqft), and 56 four-bedroom units (1,345 sqft). No one-bedroom or two-bedroom units were offered — a deliberate choice by Sim Lian that reflects both the EC eligibility framework (households required) and the family character of the Sengkang catchment. The PSF trend across five years has been unambiguous: S$1,076 → S$1,119 → S$1,392 → S$1,434 → S$1,541 — a trajectory that reflects genuine demand rather than speculative rotation.
Location & Connectivity
Treasure Crest sits at the northern edge of Sengkang’s Anchorvale precinct, a mature residential cluster bounded by Anchorvale Crescent and Anchorvale Street. The development’s primary transport link is the Sengkang LRT system, with Cheng Lim LRT (SW1) approximately 250 metres away — a walk of roughly three minutes — and Farmway LRT (SW2) at 430 metres. From Cheng Lim, the LRT runs directly to Sengkang MRT (NE16, North East Line) in one stop, making the total rail journey from door to Sengkang MRT approximately 8–10 minutes including walk and wait time. From Sengkang MRT, residents can reach Serangoon interchange in two stops and Dhoby Ghaut in six.
The immediate neighbourhood amenity offering is strong. Compass Point (formerly Compass One) at Sengkang MRT is approximately 700 metres away and accessible by a single LRT stop — providing a supermarket, cinema, food court, enrichment centres, and extensive retail in an air-conditioned environment. Rivervale Mall and Rivervale Plaza, each under 1 km, offer NTUC FairPrice, hawker stalls, food outlets, and daily convenience. The Kopitiam Square wet market and food centre at Sengkang Town Centre — 60 stalls, half open 24 hours — is two LRT stops away. For larger shopping, Waterway Point at Punggol and The Seletar Mall at Fernvale are accessible within 15 minutes by LRT or car.
Sengkang Riverside Park is the development’s green lungs — a well-maintained waterside park with cycling paths, jogging trails, and family picnic areas that connects via the North Eastern Riverine Loop to Punggol Waterway and Coney Island Park. This park connector network is one of the most scenic in Singapore’s northeast, and residents regularly cite it as a decisive quality-of-life factor. Sengkang General Hospital is approximately 1.5 km away, and the Sengkang Sports and Recreation Centre provides an Olympic-sized swimming complex and sports hall within cycling distance. Expressway access is strong: TPE, SLE, CTE, and KPE are all reachable within minutes, connecting to the CBD in approximately 20–25 minutes off-peak.
One environmental consideration flagged consistently by Treasure Crest residents is low-altitude military aircraft noise: the Sengkang-Punggol corridor sits within the approach path of RSAF training routes, and fighter jet overflights can be loud — particularly during National Day rehearsals in July–August. This is a known characteristic of the entire northeastern residential zone and is not unique to Treasure Crest, but buyers with noise sensitivity should visit the site at different times before committing.
Schools & Education
4 primary schools within the 1 km Priority Phase balloting radius.
| School | Type | Distance |
|---|---|---|
| Compassvale Secondary School | secondary | Within 1 km |
| Sengkang Green Primary School | primary | Within 1 km |
| Greendale Primary School | primary | Within 1 km |
| Anchor Green Primary School | primary | Within 1 km |
| Greendale Secondary School | secondary | Within 1 km |
| Compassvale Primary School | primary | Within 1 km |
| Seng Kang Primary School | primary | ~1.0 km |
| Sengkang Secondary School | secondary | ~1.0 km |
Facilities
Treasure Crest’s facilities programme is purpose-built for family living rather than resort showmanship. For 504 units, the offering is appropriately scaled: a lap pool, spa pool, Jacuzzi, sun deck, tennis court, gymnasium, children’s pool with playground, gourmet BBQ dining pavilions, and a clubhouse function room. The eight blocks are arranged in a ring around the central facilities zone, maximising inward-facing views across the water and greenery while protecting pool privacy from the street. Most mid-to-high floor units on the inner-facing stacks overlook the pool deck directly.
The facility ratios are adequate rather than generous — one tennis court for 504 units is the practical limitation most commonly noted by residents, with booking slots filling quickly at peak weekend times. The lap pool is well-maintained and long enough for serious swimmers. The BBQ pavilions are a genuine community hub: residents report regular weekend gatherings and a strong kampung-spirit community fostered partly by the development’s manageable scale. The children’s pool and playground see heavy weekend use — units adjacent to this zone will experience more ambient noise, which is worth verifying during a site visit.
“The facilities are quite well maintained, as expected of a relatively new development. The size of the estate — 504 units — is neither too large nor too small, striking a good balance between community feel and manageable maintenance costs. We have friendly neighbours and a real kampung spirit here.”
— Owner-resident, five-year review via Stacked Homes
Parking is well-provisioned at 504 covered lots with 5 additional handicapped bays — a 1:1 ratio per unit that avoids the chronic parking shortfall that afflicts some denser developments in the area. The main entrance features a welcoming waterfall garden and entrance portico that elevates the arrival experience above the EC segment norm. Security is 24-hour with access control throughout the development. A side gate opens to an internal road leading to the car park — residents note this requires pedestrians to watch for vehicle traffic, a minor design trade-off in an otherwise well-considered site plan.
Pricing & Market Position
Based on 182 recorded transactions, sale prices range from $1,015,000 to $2,250,000, averaging $1,576,787 (~$1,576 psf).
Rents range from $3,500 to $6,100 per month across 47 rental transactions. Current rental yield sits at approximately 3.2%.
Price Appreciation
From 2021 to 2026, the average PSF has appreciated by 48.6% (from $1,076 to $1,599 psf).
Neighbourhood Comparison
The most instructive comparison in the Anchorvale sub-market is Treasure Crest against its EC neighbours. The Vales (EC, 99-year from 2014, ~517 units) is the closest contemporary — launched slightly earlier and priced at a similar PSF at launch. Both are Sengkang ECs with LRT access, and both have delivered strong post-MOP appreciation. Treasure Crest has consistently transacted above The Vales in PSF terms on the resale market, attributable partly to Sim Lian’s stronger brand recognition for build quality and partly to its slightly better LRT positioning. Bellewaters (EC, 99-year from 2013, 651 units) is larger and slightly older — another Sengkang EC that Treasure Crest buyers consistently use as a benchmark. Treasure Crest’s Sim Lian quality advantage over Bellewaters is a recurring theme in resident comparisons.
Against the private condominiums in District 19, the PSF gap is striking. Chuan Park (S$2,596 psf, 99-year, Lorong Chuan) trades at a 69% PSF premium to Treasure Crest — a gap that reflects both its MRT-adjacent position on the Circle Line and its substantially stronger CCR-proximate address. For buyers who qualify under EC resale criteria and are comfortable with the Sengkang location, Chuan Park’s premium is difficult to justify purely on yield or near-term appreciation grounds. Florence Residences (S$1,743 psf, 99-year from 2020, Hougang) is the most directly relevant private-condo comparison: a family-focused development in the northeast corridor with strong school proximity. Florence trades at a 13% PSF premium over Treasure Crest — justified by its fully private status (no EC restrictions), newer completion date, and direct MRT access at Hougang MRT. For families who do not need EC resale eligibility restrictions to apply, Florence’s premium may be warranted; for those who qualify for EC resale, Treasure Crest offers comparable family amenities at a meaningful discount.
Looking forward to 2028 privatisation, Esparina Residences (S$1,694 psf, fully privatised since 2024, District 19, Buangkok) provides the most useful post-privatisation comparable. Esparina achieved approximately 47% appreciation since its 2019 MOP — a trajectory that illustrates the EC privatisation re-rating effect. If Treasure Crest follows a similar trajectory from its current S$1,541 psf base, the 2028–2030 period could be productive for current buyers. Esparina’s advantage is its exceptional 220m proximity to Buangkok MRT; Treasure Crest counters with fresher lease (88 years vs 83 years), stronger profitability score (87/100), and a larger share of three-bedroom premium units suited to family living.
| Development | Tenure | TOP | Units | ~Avg PSF |
|---|---|---|---|---|
| TREASURE CREST | 99 yrs lease commencing from 2015 | — | 504 | $1,576 |
| 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 |
ShiokNest Scores
Our proprietary scoring system evaluates TREASURE CREST across multiple dimensions.
What Residents Say
“Picking Treasure Crest was a no-brainer for us — it ticked all the boxes. Good transport links to the CBD via the LRT to Sengkang MRT, not too close to the main road, close to Compass Point for shopping, and surrounded by greenery and the park connector. The price was also lower than The Vales or Bellewaters nearby, and we couldn’t argue with that.”
— Owner-resident, three-bedroom premium, five-year review via Stacked Homes
“The Sim Lian utility yard design is something we really appreciate. We don’t need to use the balcony for laundry — it keeps the facade looking tidy. The bedrooms are genuinely bigger than what you get in similar-priced developments; our kids each have room for a bed and a study desk, which made a huge difference when homework loads increased. The branded fittings — Bosch and Hansgrohe — still look good five years in.”
— Owner-resident, four-bedroom, via 99.co
“One thing that surprised us was the community here. Because it’s only 504 units, you start to recognise faces and people actually talk to each other at the pool. My biggest gripe is the fighter jet noise — it was noticeable when we started working from home during COVID. It’s not constant, but on some mornings it can be quite loud with windows open. Also the tennis court — only one for the whole development, and it books out fast on weekends.”
— Owner-resident, three-bedroom premium, via EdgeProp
“We bought at launch in 2016 and the capital gains at MOP exceeded our most optimistic projections. The resale market has been very active since 2023 and we’ve seen units transact well above S$1,600 psf. As an investment it’s been exceptional — the school catchment and LRT connectivity keep rental demand strong, and we’re watching the privatisation timeline closely as we think there’s another leg of appreciation when that opens to foreign buyers in 2028.”
— Investor-owner, three-bedroom, via ResaleEC.sg
EC cost advantage that still holds. Even at today’s resale price of ~$1,543 psf, Treasure Crest sits meaningfully below comparable full private condominiums in District 19 (Punggol, Hougang, Serangoon Gardens). New-launch private condos in the north-east have been pricing into the $1,700–$1,900 psf range in 2025–2026, so the EC discount persists even after MOP. Buyers who purchased via CPF Housing Grants at launch crystallised an additional $10,000–$30,000 of benefit that does not appear in the headline PSF, making the effective yield on entry capital notably stronger than raw transaction data suggest.
MOP cleared — full buyer pool from September 2028. The five-year MOP was satisfied in September 2023 under the old EC rules — Treasure Crest is entirely unaffected by the new 10-year MOP framework introduced for GLS sites tendered from 8 May 2026. This is a structural advantage: every resale listing here can be bought today by Singaporeans and PRs with no lock-in obligation, and from September 2028 the pool expands to foreigners and corporate entities. Historically, EC privatisation events coincide with a pricing step-up as foreign demand enters a previously restricted asset. Use the ROI calculator to model this re-rating scenario against your holding horizon.
Connectivity that punches above its postcode. The development is a five-minute walk from Cheng Lim LRT (Sengkang West Loop), which feeds directly into Sengkang MRT (NE16, North East Line). From Sengkang MRT, Dhoby Ghaut is reachable in approximately 25 minutes without a change. Looking further forward, the Cross Island Line Punggol Extension — targeting 2032 per the Land Transport Authority — will connect Punggol interchange (itself a 10-minute LRT ride from Sengkang) directly to Pasir Ris and onward to the eastern MRT spine, materially compressing cross-island commute times for north-east residents (as of 2026-05).
Family-grade facilities at an EC price point. Treasure Crest delivers a full condominium facility suite: 50-metre swimming pool, gymnasium, function rooms, tennis court, and landscaped play areas across the 504-unit development — a size that keeps management fees sensible while sustaining a genuine community feel. Cheng Lim Primary School (within 1 km), Nan Chiau High School, and Sengkang General Hospital within the immediate catchment round out the family-living credentials that have historically supported capital values in this sub-market. The liveability scores map shows District 19 consistently ranking in the top quartile for amenity density among OCR districts.
Outperforming OCR benchmarks. Sengkang condominium resale prices rose approximately 12% year-on-year in Q1 2026 against an island-wide average of 8%, per market data tracked by ShiokNest (as of 2026-05). Treasure Crest’s trajectory follows this pattern: transactions in late 2025 touched $1,664–$1,672 psf, up from sub-$1,400 psf prints in mid-2022. The combination of EC scarcity, post-MOP demand, and macro OCR outperformance creates a supportive backdrop, though buyers should note this context rather than extrapolate it linearly.
Privatisation is still two years away — foreign demand premium unrealised. Full privatisation to foreigners and corporate buyers does not arrive until September 2028. Until then, the buyer pool is restricted to Singapore Citizens and PRs only, which inherently caps liquidity relative to a fully private condominium. Transaction volume at Treasure Crest averages fewer than 20 units per quarter in our URA records — thin by comparison with larger private developments nearby. Buyers expecting a quick resale turnaround before 2028 may find bid-ask spreads wider and days-on-market longer than anticipated. The total cost of ownership calculator should factor in a realistic time-to-transact buffer when modelling net returns.
New EC supply wave in Sengkang. The government has scheduled approximately three new EC GLS sites in the Sengkang / Punggol corridor for 2026, representing an estimated 1,800 new units entering the pipeline. While these will launch under the new 10-year MOP framework (making them less directly competitive for the same upgrader cohort), aggressive pricing from new launches could anchor buyer price expectations and dampen resale momentum for existing ECs in the near term. The new launches map is worth monitoring as tender results filter through in 2026 (as of 2026-05).
Lease clock and distance from CBD. With a 99-year lease commencing 2015, buyers in 2026 are acquiring approximately 89 years of remaining tenure. While this is a healthy stack by any measure today, disciplined buyers should run the lease decay calculator to understand how CPF usage restrictions begin tightening once remaining lease falls below 60 years — relevant for anyone modelling a 25-to-30-year hold. Separately, Sengkang sits roughly 16 km from the CBD; while the North East Line handles this commute reasonably (Raffles Place in ~30 minutes at off-peak), international tenants and foreign professionals often weigh this distance against more central OCR alternatives, which may constrain rental upside relative to comparable ECs in, say, District 16 or District 18.
Military flight path noise. Resident accounts flag intermittent noise from military aircraft over the Sengkang-Punggol corridor, associated with Sembawang Air Base operations. This is a quality-of-life factor that does not appear in URA data and is difficult to price precisely — but worth a weekend visit at different times of day before committing (as of 2026-05).
[
{
"persona": "HDB Upgrader (First Private Home)",
"fit_color": "green",
"reason": "Treasure Crest hits the sweet spot for HDB upgraders: EC resale pricing well below new-launch private alternatives in the north-east, a 5-minute LRT walk, family-grade facilities, and post-MOP flexibility to sell or rent freely. CPF OA can be applied to the purchase (subject to accrued interest rules) and no ABSD applies for Citizens buying their first private property."
},
{
"persona": "Young Couple (Dual Income, Planning Family)",
"fit_color": "green",
"reason": "Cheng Lim Primary within 1 km, Sengkang General Hospital nearby, and large 3-bedroom units averaging ~1,300 sqft at ~$1.57M all-in suit a young family building equity. The maturing estate means infrastructure is in place rather than promised."
},
{
"persona": "Private Property Investor (Mid-Term Hold)",
"fit_color": "amber",
"reason": "The privatisation re-rating in September 2028 is a concrete near-term catalyst, and 12% YoY OCR outperformance supports the thesis. However, thin EC resale liquidity pre-2028 and incoming new EC supply could compress returns. Best suited to investors with a 3-to-5-year horizon who can wait out the privatisation event."
},
{
"persona": "Sengkang / Punggol Tenant Seeking Owner-Occupier Upgrade",
"fit_color": "green",
"reason": "Tenants already living in Sengkang who know the neighbourhood and commute patterns are well-positioned to appreciate the estate quality here. The 504-unit scale avoids the anonymity of mega-developments while still supporting full facility maintenance."
},
{
"persona": "Foreign Professional (Employment Pass Holder)",
"fit_color": "red",
"reason": "EC units cannot be purchased by foreigners until full privatisation in September 2028. ABSD of 60% also applies to foreign buyers of residential property from 2023. This property is off-limits for direct purchase until 2028, and the economics are challenging even thereafter given ABSD exposure."
},
{
"persona": "Retiree / Empty Nester Downsizer",
"fit_color": "amber",
"reason": "The EC is well-served by amenities and healthcare (Sengkang General Hospital), but the distance from CBD lifestyle anchors and the predominantly family-centric estate design may feel oversized. Strong if family is nearby in Sengkang / Punggol; amber if lifestyle requires frequent city access."
}
]
Treasure Crest is a genuinely competent EC that has aged well — structurally sound, well-located within its north-east sub-market, and now sitting at a post-MOP juncture that separates it from the fully locked-in EC cohort. The asset carries a verifiable privatisation catalyst in September 2028, which historically translates into a widening buyer pool and a corresponding re-rating of transaction prices. For upgraders and investors with the patience to hold through that event, the current pricing around $1,543 psf looks defensible against the new-launch private benchmark of $1,700–$1,900 psf in the same district (as of 2026-05).
The honest caveats are these: pre-2028 liquidity is thinner than most sellers would prefer, the new Sengkang EC pipeline will keep price anchors competitive, and the CBD distance means rental premiums from international tenants will remain limited relative to more central OCR locations. Buyers should stress-test their exit against the side-by-side comparison tool using nearby private comparables, and model total ownership costs carefully — including ABSD for those holding other residential properties — via the stamp duty calculator.
Suggested holding period: Minimum three years, ideally five-plus to capture the post-privatisation pricing event while allowing the Sengkang macro tailwind (CRL Punggol Extension, 2032) to compound. Short-hold flips before 2028 carry execution risk given thin EC liquidity. Longer-term holders benefit from an 89-year lease stack with no meaningful lease-decay risk until well into the 2030s, per SLA leasehold records (as of 2026-05).