Projected Rental Yield of The Sen (Type C1): How It Stacks Up Against Nearby Upper Bukit Timah Condos
When a project is expected to be completed in 2030, purchasing today is essentially a bet on what the rental market will be willing to pay upon vacant possession, which ultimately reveals the property’s true market value. It also depends on whether the unit’s design efficiency and its true comparable size can compete with nearby developments that tenants are already familiar with, helping determine whether the purchase represents good value.
For The Sen’s 3-bedroom Type C1, the analysis is slightly more nuanced because it is a “harmonised” project: the published strata area treatment may differ from that of older condos. URA’s harmonisation framework (effective 1 June 2023) standardised floor area definitions across agencies—key changes include measuring to the middle of walls, including strata areas as GFA, and excluding voids from strata area computations.
That matters for rental benchmarking because many tenants (and landlords) still compare “how much home you get” across older and newer projects, even when the published floor area labels were produced under different rules.
Making the size comparison apples-to-apples
What “harmonised” can change in practice
URA’s joint circular explains the intent of harmonisation and the implementation date, and summarises the standardisation outcomes.
In the supporting appendices, URA specifically notes that air-conditioner (AC) ledges can be treated differently depending on whether they are strata area or retained as common property: if included as strata area, they are computed as GFA; if retained as common property, they can continue to be excluded from GFA (with an exemption approach described for common property AC ledges).
This connects to a long-standing market concern that developers could previously build sizeable balconies/AC ledges that were not counted as GFA yet were still “sold” as part of the unit’s paid-for space—an issue discussed in an MND parliamentary reply on air-con ledges and balconies.
The Sen Type C1 size used in this analysis
We used the estimated aircon ledge as the key adjustment needed for best-fit comparison:
- Published (harmonised) strata: 872 sqft
- Estimated aircon ledge: ~37 sqf
- Estimated “non-harmonised equivalent” for older-project comparison: 872 + 37 = 909 sqft
This analysis uses 909 sqft as the “comparison size” for rents (i.e., the size basis you requested for older condos).
Separately, using our price range of $1,956,000 to $2,097,00 for the C, this implies two different “headline psf” ways the market might perceive pricing:
- Based on 872 sqft (harmonised): about $2,243–$2,405 psf
- Based on 909 sqft (adjusted comparable area): about $2,152–$2,307 psf
Those differences are exactly why harmonisation can confuse casual comparisons: the same home can look “more expensive per sqft” if the published area excludes certain ledges or void treatments.
The competitive set and why these five projects are credible benchmarks
Our selected five comparables are close enough in District 21 and broadly similar in modern project typology and unit mix, making them reasonable anchor points.
Here are the characteristics of these 5 projects:
- The Creek @ Bukit: Freehold, District 21, vacant possession 30 Sep 2017; 3-bedroom type at 969 sqft, with units featuring ~5m floor-to-floor height, enabling loft-style usability (a differentiator that can affect rent comparisons).
- Daintree Residence: 99-year leasehold (from July 2017), District 21, vacant possession 2021; 3-bedroom range 1001–1249 sqft.
- Forett @ Bukit Timah: Freehold, District 21, vacant possession Jan 2023; comparative 3-bedroom type ranges from 947–980 sqft.
- View at Kismis: 99-year leasehold (from 31 May 2019), District 21, vacant possession 1 May 2023; 3-bedroom listed at 807 sqft (with limited unit count in that size band).
- Verdale: 99-year leasehold (from 5 Dec 2018), District 21; vacant possession listed as 30 Sep 2024; 3-bedroom listed at 947 sqft.
One additional reason these are good “best fit” anchors: they span a realistic age ladder relative to The Sen’s expected 2030 completion—meaning we can reason about what a “newer” condo might command against 6–13-year-old nearby stock.
What the nearby rental graph is telling us
The above ProNex Investment Suite “ProTrend” graphic (yearly, 2018–2026, generated 04 Mar 2026) shows average rental $psf per month trajectories and also summarises min/avg/max psf for each development over the displayed period.
Two signals matter most for projecting The Sen at 2030 TOP:
A clear rental “band” for newer District 21 condos
Across the newer/modern comparables (Daintree, Forett, View at Kismis, Verdale), the graph clusters around roughly high-$4 to mid-$5 psf territory in recent years, with some projects showing higher peaks and subsequent normalisation.
This is consistent with how URA frames rental statistics: rental rates are typically evaluated as gross rent per month, and official rental statistics are updated quarterly.
Separately, URA’s private residential rental index (published on data.gov.sg) is computed from IRAS tenancy return information and uses methods intended to control for unit attributes (e.g., age and size) when aggregating rental movement.
That context is useful: it reminds us rental levels are cyclical and can shift as supply comes on stream—even if a project is “good.”
The Creek is the natural lower-anchor (but also the “different product”)
The Creek’s rental psf sits meaningfully lower across the period shown. But it is also structurally different: it includes SOHO, maisonettes, penthouses, and some loft-style high ceiling units.
So it works as a conservative “what if the market discounts this micro-location or layout” anchor, but not a perfect like-for-like with a conventional family 3-bedroom.
Best-fit projection for The Sen Type C1 rent and yield at TOP 2030
Step one: translate comparable rents into a 909 sqft monthly rent frame
Using the ProTrend summary psf levels as anchors, we can estimate what a 909 sqft unit would rent for if it achieved the same psf band:
- Low-ish modern-comp anchor (Forett avg psf): ~$4,436/month (4.88 × 909)
- High-ish modern-comp anchor (Daintree avg psf): ~$4,881/month (5.37 × 909)
A simple “best-fit” midpoint (average of the four newer comparables’ avg psf values) lands around ~$4,640/month.
This yields an intuitive starting conclusion: in today’s rent-dollar terms, a reasonable “apples-to-apples” expectation for The Sen Type C1 at TOP is roughly mid-$4k to just under $5k per month, before we consider market growth to 2030.
Step two: layer in time-to-2030 rent growth scenarios
Because vacant possession is expected in 2030, rents will not be paid in 2026 dollars. Rather than pretending we can know the exact state of the rental market in 2030, a more investor-useful approach is to use a scenario band.
Below is an illustrative scenario table using: – Base 2026 comparable psf: ~$5.10 psf/month (best-fit average of the newer comparables) – Area: 909 sqft (our comparable basis) – Two purchase prices: $1,956,000 (lower floor) and $2,097,000 (higher floor). (Accurate as of 4th March 2026)
| Scenario (illustrative) | Implied psf rent (S$/sf/mth) | Monthly rent (S$) | Gross yield @ $1,956,000 | Gross yield @ $2,097,000 |
| 2026 comp baseline (no growth) | 5.10 | 4,640 | 2.85% | 2.66% |
| 2030, rents +2% p.a. | 5.53 | 5,023 | 3.08% | 2.87% |
| 2030, rents +4% p.a. | 5.97 | 5,429 | 3.33% | 3.11% |
These are gross yields: they do not include vacancy, maintenance, property tax, insurance, agent fees, or financing costs.
What the yield math implies for buyers today
Using the best-fit rental band implied by nearby projects, the Type C1 price range suggests:
- If rents at vacant possession are still “2026-like,” the gross yield is likely to sit in the mid‑2% range.
- If rents rise moderately into 2030, it becomes more plausible to see yields pushing toward ~3%+, depending on where within the price range you bought.
In other words, the higher-floor price premium is real, but it only “pays for itself” in yield terms if higher floors also command consistently higher rents (which is often true but not guaranteed).
Layout-driven “premium/discount” factors specific to The Sen Type C1
Numbers alone miss what tenants actually rent: livability.
Why The Sen’s dumbbell-like 3BR could support stronger rent resilience
The Sen Type C1 is closer to a 2-bedroom dumbbell layout concept applied to a 3-bedroom: bedrooms on opposite sides of the living space, reducing “wasted” corridor.
For rental demand, that can be a meaningful advantage because it tends to: – Improve privacy for multi-generation families or co-living roommates – Make the living/dining feel larger relative to the stated floor area – Reduce the “long hallway” effect common in compact 3BRs
That kind of efficiency is hard to price into psf comps directly, but it can show up as lower vacancy and stronger renewal rents compared to similarly sized but less efficient layouts.
Where it could be discounted versus the older condos
However, two features of this layout can create a narrower tenant profile:
- An open-concept kitchen that forms part of the entrance experience. Some tenants (especially heavy-cooking households) strongly prefer enclosed kitchens for ventilation and mess containment.
- A layout that is “non-standard” versus traditional 3BRs. Uniqueness can be a plus, but it can also reduce the pool of tenants who instantly “get it” from photos.
This is why it’s reasonable to treat the ProTrend psf band as the centre of the range, while acknowledging that the Sen could rent slightly above or below that band in 2030, depending on tenant preferences.
Conclusion: Is The Sen 3-Bedroom Type C1 a Good Buy?
The rental data from nearby District 21 developments indicate that modern condominiums within this cluster have generally transacted at around $5 psf/month in recent years, while The Creek @ Bukit tends to sit slightly lower due to its different product profile.
Using the adjusted comparable size of 909 sqft, this implies that a reasonable rental expectation for The Sen’s 3-Bedroom Type C1 at vacant possession could fall within the mid-$4,000 to high-$4,000 per month range in today’s rental terms, with the potential to reach the low-$5,000 range by 2030 under moderate rental growth assumptions.
Based on the current price range of $1.956M to $2.097M, this translates into an estimated gross rental yield of about 2.6%–2.9% if rental levels remain around today’s range, and potentially 2.9%–3.3% if rents grow at approximately 2%–4% annually leading up to 2030.
However, there may be additional yield upside depending on how the unit is utilised. The Type C1 layout resembles a dumbbell configuration, with bedrooms positioned on opposite sides of the living area, leaving minimal corridor space. This layout provides greater privacy between rooms and may lend itself well to co-living arrangements, where individual rooms are rented separately to different tenants. In such cases, landlords may be able to achieve a higher combined rental income compared with leasing the entire unit to a single household, potentially improving the effective rental yield.
Lastly, it is important to recognise that The Sen is a harmonised project, meaning the published strata area does not always align directly with the way sizes were reported in older developments. Adjusting the unit to an estimated 909 sqft comparable size (including the aircon ledge) provides a more balanced benchmark when comparing rental performance against surrounding projects, ensuring that the analysis remains fair and meaningful.
Disclosure: This post is educational and analytical. It is not financial advice. Projections are scenarios based on the provided ProTrend 3BR graph values, our 909 sqft comparability assumption, and an indicative price of $1,956,000 to $2,097,000 (as of this article). Actual rents, yields, 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.
