Bottom line Summary
Using the latest developer’s indicative pricing, a 20% premium for higher-floor units, Normanton Park rental benchmarks, and an adjusted “effective area” that accounts for non-strata space in the Hudson Place Residences floor plans, the conclusions are fairly clear. The 2 Bedroom Premium stands out as the most compelling option from a yield perspective; the 3 Bedroom Deluxe is viable when secured at close-to-entry pricing; and the 4 Bedroom Premium leans more toward an own-stay or long-term hold rather than a yield-driven investment.
This aligns with the project’s broader positioning. Hudson Place Residences is situated on the Media Circle Parcel A GLS site, awarded in March 2025 on a 99-year lease for a mixed-use development with commercial space at the first storey. The project comprises 327 units with an expected TOP of 30 September 2029. Its location within the one-north precinct is a key strength, given the concentration of over 400 companies, multiple research institutes, academic institutions, and a workforce exceeding 50,000 knowledge workers—forming a strong, employment-driven tenant base.
However, the investment case needs to be balanced against prevailing rental conditions. Recent URA data shows that private residential rents grew modestly by 1.9% in 2025 and declined by 0.5% quarter-on-quarter in 4Q2025. More importantly, there is a substantial supply pipeline of around 57,000 units, with approximately 29,000 expected to be completed from 2029 onwards. This introduces a meaningful supply overhang around Hudson Place Residences’s completion timeline. As such, the analysis deliberately avoids assuming aggressive rental growth by 2029, keeping the projections grounded in current market realities.
Why Hudson Place Residences has a real tenant story
Hudson Place Residences’ strongest investment argument is not “city-fringe” in the abstract. It is that Media Circle sits inside one-north’s employment machine. JTC describes One-North as an estate with more than 400 leading companies and over 50,000 knowledge workers, which is exactly the kind of live-near-work ecosystem that supports leasing demand for compact and family-sized units alike.
Connectivity here is more nuanced than a simple “near MRT” versus “not near MRT” distinction. The development is approximately a five-minute drive to the AYE and about a 10-minute walk to One-North MRT. While it is not a doorstep MRT project, it is far from isolated; it should be viewed as a work-adjacent, moderately walkable asset within the One-North cluster. This positioning makes Normanton Park a reasonable rental benchmark, while still allowing Hudson Place Residences to potentially command a premium as a newer 2029 completion within the same employment corridor.
The caution is that a strong tenant base does not automatically make every unit type a good investment. Large units can still underperform on yield if purchase quantum rises faster than achievable rent. That is exactly what the numbers show below.
Harmonisation and the underwriting method
Hudson Place Residences is a harmonised development, which changes how unit sizes should be interpreted. URA’s harmonisation took effect from 1 June 2023 for development applications and applies to GLS sites launched from 1 September 2022 onward. Under the revised framework, all strata areas are included as GFA, while qualifying non-strata A/C ledges and certain qualifying RC ledges can be excluded from GFA. This matters because older, nearby projects and newer, harmonised projects are not directly comparable based on their headline unit sizes alone.
For that reason, we added the estimated non-strata areas back to Hudson Place Residences’s published sizes to create a comparable effective area for rental estimation. This is not a legal redefinition of strata area. It is a practical normalisation step so that Hudson’s post-harmonisation layouts can be compared more fairly with a nearby rental benchmark.
The model uses three simple formulas:
Comparable effective area = official harmonised area + estimated non-strata area
Expected monthly rent = comparable effective area × Normanton Park rental psf benchmark
Gross yield = annual rent ÷ purchase price
Adjusted unit areas and purchase metrics
| Unit type | Official area | Estimated non-strata area | Comparable effective area | Starting price | Higher-floor price (20% Higher) | Starting price psf on the official area | Starting price psf on comparable area |
| 2 Bedroom Premium | 646 sq ft | 34.37 sq ft | 680.37 sq ft | $1,400,000 | $1,680,000 | $2,167 psf | $2,057 psf |
| 3 Bedroom Deluxe | 893 sq ft | 51.37 sq ft | 944.37 sq ft | $2,000,000 | $2,400,000 | $2,240 psf | $2,118 psf |
| 4 Bedroom Premium | 1,152 sq ft | 72.29 sq ft | 1,224.29 sq ft | $2,700,000 | $3,240,000 | $2,344 psf | $2,205 psf |
The key takeaway from this table is simple: the 2 Bedroom Premium is the cheapest on an apples-to-apples basis after harmonisation adjustment. That is the first reason it wins the yield contest.
On the other hand, the impact of harmonisation is most pronounced for the 4-bedroom units. Its comparable effective area is approximately 6.3% higher than the official harmonised size, compared to about 5.8% for the 3-bedroom and 5.3% for the 2-bedroom units.
What The Rental Data Is Really Saying
Normanton Park is used as the primary benchmark in this analysis as it is the closest relevant rental comparable within a 1km radius of Hudson Place Residences. Although the dataset only covers the period from Q3 2023 to Q1 2026, it still provides sufficient recent leasing evidence to establish a reasonable underwriting range. That said, it should be interpreted as reflective of current market conditions rather than a full-cycle view.
From the chart, the overall Normanton Park rental psf benchmarks are:
| Unit type | Min average psf | Average psf | Max average psf | Lease volume |
| 2 Bedroom | $5.73 | $5.96 | $6.92 | 716 |
| 3 Bedroom | $5.46 | $5.72 | $5.97 | 401 |
| 4 Bedroom | $4.56 | $5.55 | $6.70 | 63 |
A few things stand out immediately from the rental chart. The 2-bedroom and 3-bedroom data are much more reliable because the sample sizes are larger. The 4-bedroom band is far more volatile (possibly due to views, furnishings, etc), with only 63 leases in the charted sample and wide swings in quarterly psf. That makes the 4-bed comparison the least dependable part of the model.
Applying those psf benchmarks to the comparable effective areas gives the following rent ranges:
| Unit type | Comparable effective area | Low-case monthly rent | Base-case monthly rent | High-case monthly rent |
| 2 Bedroom Premium | 680.37 sq ft | $3,899 | $4,055 | $4,708 |
| 3 Bedroom Deluxe | 944.37 sq ft | $5,156 | $5,402 | $5,638 |
| 4 Bedroom Premium | 1,224.29 sq ft | $5,583 | $6,795 | $8,203 |
The harmonisation adjustment is not trivial. If you ignored the non-strata areas and used only the official harmonised sizes, the base-case rents would come out roughly $204 per month lower for the 2-bed, $294 per month lower for the 3-bed, and $401 per month lower for the 4-bed. In other words, the normalisation step materially improves the realism of the rent estimate, especially for the larger bedroom sizes.
Yield results by unit type
To keep the analysis decision-useful, we modelled three yield views for each unit type:
- Conservative = low-case rent and higher-floor purchase price
- Base = base-case rent and midpoint purchase price
- Optimistic = high-case rent and starting purchase price
Gross-yield matrix
| Unit type | Gross yield at the starting price using the base rent | Gross yield at +20% price using base rent | Conservative yield | Base yield | Optimistic yield |
| 2 Bedroom Premium | 3.48% | 2.90% | 2.79% | 3.15% | 4.03% |
| 3 Bedroom Deluxe | 3.24% | 2.70% | 2.58% | 2.95% | 3.38% |
| 4 Bedroom Premium | 3.02% | 2.52% | 2.07% | 2.75% | 3.65% |
These are gross yields only. They do not deduct maintenance, property tax, vacancy, furnishing, agent commissions, or financing costs.
What the numbers mean in practice
The 2 Bedroom Premium stand out as the most straightforward investment option. It offers the lowest entry psf on a comparable-area basis and is supported by the most robust rental data from the Normanton Park benchmark. Equally important, the rental quantum for a 2-bedroom unit is far more accessible to tenants than that of a 4-bedroom. Even after factoring in a 20% premium for higher-floor units, the 2-bedroom still delivers around 2.90% gross yield on base rent, and approximately 3.15% on a midpoint basis. This makes it the strongest balance of affordability, leasing demand, and underwriting reliability.
The 3 Bedroom Deluxe is not bad, but it is clearly more price-sensitive. At the starting price with the base rent, it still reaches about 3.24% gross, which is respectable. But once the 20% floor premium is introduced, the same base-rent yield compresses to 2.70%. That tells you the 3-bed only works well if you buy it close to the guide price, not if you chase stack or floor premiums too aggressively. However, with only 14 units of this type, scarcity could help future appeal, but scarcity does not fully rescue the weaker yield math.
The 4 Bedroom Premium is the weakest pure-investment case. Its starting-price base-rent yield is only about 3.02%, and with the higher-floor premium, that falls to 2.52%. The optimistic case looks better at 3.65%, but that depends on the top end of a small and volatile 4-bedroom rental sample. Put differently, the 4-bed can work if the leasing outcome is excellent, but it is the least defendable unit to underwrite on yield alone. With just 26 units available, there is some scarcity, but for most buyers, this leans more toward own-stay appeal than consistent rental efficiency.
Final Assessment From A Yield Perspective
From a rental-yield perspective, Hudson Place Residences can be a good buy, particularly when approached selectively with the right unit choice and entry pricing.
For a buyer whose main objective is investment income, the answer is yes for the 2 Bedroom Premium, because it has the strongest normalised value, the broadest tenant market, and the most robust comparative data from the Protrend chart. It is the only one of the three unit types that still looks reasonably defendable even after a meaningful floor premium.
For the 3 Bedroom Deluxe, the answer is maybe, and the word that matters is price discipline. If bought near entry pricing, it can still make sense as a hybrid own-stay/investment unit, given the acceptable yield and low unit count. If bought after a full 20% premium, it may stop looking compelling as a yield-led purchase.
For the 4 Bedroom Premium, the answer is no if the question is “good buy for yield?” The quantum is high, the rent benchmark is the least reliable, and the modelled yield drops too quickly once you move away from the guide price. It may still be attractive for family buyers who value layout, newness, and long-term one-north positioning, but that is a different thesis from rental efficiency.
The most defensible conclusion is this: Hudson Place Residences is broadly investable given the depth of the one-north employment base and its 2029 completion, but across the three unit types, the 2 Bedroom Premium emerges as the clearest yield-driven opportunity; the 3 Bedroom Deluxe is attractive if secured near launch pricing; and the 4 Bedroom Premium may not be compelling as a pure investment based on the current numbers.
Disclosure: This post is for educational and analytical use only. It is not financial advice. Projections are scenarios based on the provided ProTrend graph values, our normalised unit-size comparability assumptions, and the current indicative prices (as of 27th April 2026). Actual rents, yields, launch prices and timelines may differ.
Article contributed by Jerry Wong.
Jerry Wong is a realtor at Propnex Realty, bringing a rich background in interior and lighting design to his work. He loves exploring diverse spaces and observing the transformative power of real estate. Beyond his professional role, Jerry finds his greatest fulfillment in connecting people with the right properties, gaining immense satisfaction from helping clients achieve their dreams.
