If you've been watching the Pasir Panjang corridor and wondering whether prices there have more room to run, a recent resale transaction at Bijou just gave you a very clear answer. A unit there transacted at a new project high of around $2,561 psf, and that number tells a story well beyond one single deal.
Bijou is a freehold, mixed-use project in Pasir Panjang, sitting at the fringe of the CCR and positioned firmly in the RCR city-fringe corridor. It's a boutique development combining retail at the podium with compact SOHO-style residential units above, and it's within walking distance of Pasir Panjang MRT. The $2,561 psf achieved here is a meaningful step up from where this project used to trade, historically in the low- to mid-$2,000 psf band.
To put that in absolute dollar terms, a 600 to 650 square foot unit at this psf implies a quantum of roughly $1.5 million to $1.7 million. A 700 to 800 square foot unit is looking at $1.8 million to $2.0 million. These are no longer numbers most people associate with "city fringe boutique." They're numbers that used to get you something much closer to the core of town.
The broader market context makes this less surprising than it sounds. New OCR launches, which are supposed to be the more affordable mass-market segment, have been printing at $2,700 to nearly $3,000 psf at some projects. New home sales in March 2026 hit around 1,300 units, up sharply from the month before. URA April 2026 flash data showed new sale volumes at a six-month high. The entire market is repricing, and Bijou is moving with it.
In my view, what's happening at Bijou reflects a compression trade that's been building for a while now. When OCR prices at new launches push toward $3,000 psf, buyers start doing the mental arithmetic. They ask themselves: why am I paying this much for a 99-year leasehold unit in the suburbs when I can get freehold, city-fringe, mixed-use at $2,500 to $2,600 psf? That logic is sound, and it's what's driving resale benchmarks like this one higher.
Here's the thing most people miss. Freehold mixed-use projects near MRT stations in this format are not being built anymore. Government land sales have tilted heavily toward 99-year leasehold and large integrated developments. The small-scale, freehold, mixed-use product that Bijou represents is legacy stock, and legacy stock with genuine scarcity commands a premium that only grows over time. In 25 years watching this market, I've seen this pattern repeat itself. The projects that feel expensive today often look reasonable five years later.
What I'm seeing on the ground is that sellers of well-located freehold resale stock are increasingly anchoring their expectations off new launch prices. That's a rational move. When a developer is selling a nearby 99-year leasehold at $2,700 psf, a freehold resale owner at $2,500 psf has genuine justification to hold firm. The gap between new launch and resale freehold is narrowing, and buyers are accepting it.
If you're an HDB upgrader looking at the city-fringe corridor, the Bijou transaction is both a signal and a reality check. The signal is that freehold, mixed-use, MRT-adjacent stock in this part of Singapore is appreciating, and waiting is not a free option. The reality check is that entry quantum at this psf level, even for a compact one or two bedder, is $1.5 million and above. You'll need to run your TDSR numbers carefully, and you may need to accept a smaller footprint than your current HDB flat. That's a trade-off worth evaluating honestly, not avoiding.
For private condo investors already in the market or looking to enter, the yield picture here is not the headline story. At $2,561 psf, gross rental yields in the Pasir Panjang area are running roughly 2.5 to 3.0 percent, which is not exceptional. The thesis for a unit like this is capital preservation and appreciation, not rental income. Freehold tenure, genuine mixed-use utility, and constrained future supply are the investment case. If you need strong yield, look elsewhere. If you want an asset that's hard to replicate and sits on land you own forever, this corridor deserves attention.
If you're an existing owner at Bijou or a comparable freehold city-fringe project, I'd encourage you to get a current valuation done. Many owners are sitting on gains they haven't fully measured against today's market. With resale benchmarks moving, you may have more options than you think, whether that's selling, refinancing, or using equity to restructure your portfolio.
The $2,561 psf record at Bijou isn't an outlier. It's a data point that confirms where the market is heading, freehold city-fringe assets near MRT, with real scarcity and genuine mixed-use utility, are being repriced upward alongside a broad market that shows no signs of softening. Whether you're an upgrader trying to time your move, an investor comparing entry points, or an existing owner wondering what your unit is worth today, this is a good moment to have a real conversation grounded in current numbers. Reach out to me directly on WhatsApp at +65 9750 1055 or visit keithtanboonkee.com and let's work through what this market shift means for your specific situation.
25 years experience · 1,000+ transactions · 4,379 TOP units managed
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