District 11 · Novena · CCR
The Chancery Residence
Chancery Lane · Strata Terrace · 99 yrs lease commencing from 2004
Current PSF
$1,019
-48.8% vs district median
Gross yield
4.5%
median rent $8,350/mo
3-year gain
2.2%
Transactions · 5y
10
2 in last 12 months
Nearest MRT
Novena Mrt Station · 757.832m
NSL
Future MRT
Bright Hill Mrt Station
CRL · 2030
Vs local HDB
-
Area income
$11,500/mo median
residential zone
En-bloc potential45 / 100
22 years old · composite of plot use, age, tenure, value gap & size
Lease decay77 years left
worth 89.5%of freehold today (Bala’s Table) · loses ~5.3pts of freehold value over the next decade
Tenanted
100%
units with active leases
Rent momentum
-
latest 2 qtrs vs year ago
Sub-sales
0.0%
flip ratio, last 24 months
Price spread
0%
PSF dispersion within project
The neighbourhood
P1 ring
Anglo-Chinese School (Primary) 697m · Phase 2C 1.5× balloted - inside the 1km priority ring; Phase 2C demand is last year’s applicants ÷ vacancies (MOE)
Food
Newton Food Centre · 1.4km
Green
Gentle Dr Pg · 510m - 4 parks within 1km
Mall
Balestier Hill Shopping Centre · 573m
Health
Thomson Medical Centre (hospital) · 398m
Who lives in Novena
Census of Population 2020 · planning-area aggregates · SingStat via data.gov.sg
Residents
49,330
Median age
43 yrs
45% under 40 · getting older
Children 0–9
5,060
▲ 1% since 2015 · future P1 demand
Household size
3.1 avg
Homes
44% HDB
39% condo · 16% landed
Degree holders
48%
residents 15+
Commute
48% transit
31% drive
45 min+ to work
16%
The neighbourhood, photographed
freely-licensed photographs taken within ~450 m · Wikimedia Commons
Price trend average PSF by year
2021
$843
2022
$934
+10.8%
2023
$998
+6.9%
2024
$1,060
+6.2%
2026
$1,020
-3.8%
Recent transactions URA, latest 10
| Date | Price | Area (sqft) | PSF | Floor |
|---|---|---|---|---|
| May 2026 | $3,520,000 | 3,455 | $1,019 | 01-05 |
| Mar 2026 | $3,875,000 | 3,800 | $1,020 | 01-05 |
| Jan 2024 | $3,400,000 | 3,208 | $1,060 | 01-05 |
| Apr 2023 | $3,500,000 | 3,380 | $1,036 | 01-05 |
| Feb 2023 | $3,335,000 | 3,477 | $959 | 01-05 |
| Nov 2022 | $3,152,000 | 3,175 | $993 | 01-05 |
| Mar 2022 | $3,000,000 | 3,434 | $874 | 01-05 |
| Nov 2021 | $2,930,000 | 3,272 | $895 | 01-05 |
| Oct 2021 | $2,900,000 | 3,477 | $834 | 01-05 |
| Oct 2021 | $2,700,000 | 3,380 | $799 | 01-05 |
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More in District 11
The HDB blocks next door
The entry point, measured: what the resale flats around The Chancery Residence actually sell for - this project trades at 1.6× the nearest block’s PSF.