District 03 · Bukit Merah · RCR
Principal Garden
Prince Charles Crescent · Condominium · 99 yrs lease commencing from 2014
Current PSF
$2,173
-1.1% vs district median
Gross yield
3.6%
median rent $4,500/mo
3-year gain
8.9%
Transactions · 5y
217
24 in last 12 months
Nearest MRT
Redhill Mrt Station · 747.379m
EWL
Future MRT
West Coast Mrt Station
CRL · 2032
Vs local HDB
+175% premium
HDB median $789 psf
Area income
$8,500/mo median
residential zone
En-bloc potential25 / 100
12 years old · composite of plot use, age, tenure, value gap & size
Lease decay87 years left
worth 93.6%of freehold today (Bala’s Table) · loses ~4.1pts of freehold value over the next decade
Tenanted
100%
units with active leases
Rent momentum
+0.1%
latest 2 qtrs vs year ago
Sub-sales
0.0%
flip ratio, last 24 months
Price spread
9%
PSF dispersion within project
The neighbourhood
P1 ring
Alexandra Primary School 211m · Phase 2C 1.1× balloted · Zhangde Primary School 967m · Phase 2C 0.9× - inside the 1km priority ring; Phase 2C demand is last year’s applicants ÷ vacancies (MOE)
Secondary
Queenstown Secondary School · 1.1km
Food
Beo Crescent Market · 637m - 6 hawker centres within 1km
Green
Tiong Bahru Pk · 519m
Mall
Valley Point Shopping Centre · 462m
Health
Singhealth Polyclinics (Bukit Merah Polyclinic) (polyclinic) · 1.2km
Who lives in Bukit Merah
Census of Population 2020 · planning-area aggregates · SingStat via data.gov.sg
Residents
151,250
Median age
46 yrs
41% under 40 · getting older
Children 0–9
12,440
▼ 15% since 2015 · future P1 demand
Household size
2.7 avg
Homes
89% HDB
9% condo · 0% landed
Degree holders
32%
residents 15+
Commute
63% transit
17% drive
45 min+ to work
16%
What the record shows
The floor premium
Over the last 3 years, units on the 10th floor and above transacted at a median $2,190 psf - 7% above units on floors 1–5 ($2,041 psf).
Price trend average PSF by year
2021
$1,916
2022
$1,969
+2.8%
2023
$2,063
+4.8%
2024
$2,167
+5%
2025
$2,157
-0.5%
2026
$2,247
+4.2%
Rental by bedroom
| Bedrooms | Median rent | Rental PSF | Yield | Contracts |
|---|---|---|---|---|
| 1BR | $3,400/mo | $7.56 | 4.2% | 285 |
| 2BR | $4,700/mo | $6.27 | 3.5% | 378 |
| 3BR | $6,600/mo | $6.29 | 3.5% | 51 |
| 4BR | $9,250/mo | $5.97 | 3.3% | 26 |
Recent transactions URA, latest 10
| Date | Price | Area (sqft) | PSF | Floor |
|---|---|---|---|---|
| Jun 2026 | $1,830,000 | 861 | $2,125 | 01-05 |
| Jun 2026 | $1,825,000 | 807 | $2,261 | 06-10 |
| Jun 2026 | $980,000 | 495 | $1,979 | 11-15 |
| May 2026 | $1,880,000 | 807 | $2,329 | 11-15 |
| Mar 2026 | $2,905,000 | 1,076 | $2,699 | 16-20 |
| Mar 2026 | $1,800,000 | 807 | $2,230 | 11-15 |
| Mar 2026 | $1,608,000 | 764 | $2,104 | 11-15 |
| Feb 2026 | $1,888,000 | 861 | $2,193 | 06-10 |
| Feb 2026 | $945,000 | 484 | $1,951 | 11-15 |
| Jan 2026 | $2,800,000 | 1,076 | $2,601 | 11-15 |
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More in District 03
The HDB blocks next door
The entry point, measured: what the resale flats around Principal Garden actually sell for - this project trades at 4.3× the nearest block’s PSF.