38 I Suites
Ipoh Lane · District 15 · Rest of Central Region (RCR) · Freehold
38 I Suites is an apartment development in District 15 (RCR). Based on 39 URA-recorded transactions from 2021–2026, its median price is $1,088,000, with prices moving about 3.1%/yr and a gross rental yield near 3.7%.
The verdict · for an investor
38 I Suites · Apartment · District 15 · Freehold
38 I Suites is a mixed picture — a real case, with real caveats.
There's a genuine case here, but weigh the caveats below before you commit — the fundamentals and the record don't all point the same way.
Why it's pushing up
What matters most for you
- Convenient — MRT about 13 min on foot; 14 supermarkets, 8 food & retail spots nearby.
- Rentable — ~3.7% gross yield; transport and schools nearby keep tenants coming.
And what makes it better
- Every unit type has risen — 1-bed +16.6%, 2-bed +10.7% since 2021.
- A Primary-1 priority school within 1km — a real family draw.
- Steady ~3.7% gross rental yield.
What's holding it back
- MRT is a real walk — Paya Lebar MRT, about 13 min.
- The market's near the top of its cycle — mind your entry price.
Should I buy?
There's a case — weigh the caveats first.
Rental yield
gross, on this project
Priced vs nearby
mid-priced for the immediate area.
Independent research, not advice. A fair price still isn’t automatically a good buy — the call is always yours.
Pick your exact unit — then check your price
Your unit’s exact size
Every real size that has sold here (URA caveats). Pick yours — or the closest.
What 506 sqft (1-bed) units go for here
The price they’re asking
Type the price they’re quoting — we’ll judge it against what this exact size really sold for. No opinion until you do.
Recent 506 sqft sales
What it rents for — and if that works
The rent you’d get
The price to fight for — and the endgame
No agent, no listing, no one paying us — so we’ll say it plainly, whichever side of the table you’re on, for the size you picked.
If you’re buying
≤ $0.89M
Aim at the middle or below. A patient buyer has been getting closer to $0.86M.
If you’re selling
~$0.93M
List at the top of fair; realistic close is $0.89M–$0.90M unless it’s a high floor.
Why no rush either way: Seller’s Stamp Duty means a buyer can’t sell penalty-free for ~4 years — so you’re holding regardless. That’s your leverage to negotiate down now, not overpay.
The reality check — does the gain even make sense?
Our blunt read: ~$317k over 10 years at this project’s own pace. It works — but forward from a cycle top, treat it as a maybe, not a promise. This is our own POV, not a forecast — the pace is the project’s own (~3.1%/yr), and past pace never promises the future.
Built from URA transactions for 38 I Suites — an opinion to decide and negotiate with, never a valuation and never financial advice.
If you’re buying — the outlook
38 I Suites
Rest of Central Region (RCR) · District 15 · ~$1,728 psf · 3.7% yield
Prices are near the top of the cycle, and the government is still cooling it — but cheap loans and steady immigration are holding them up. For 38 I Suites, its own prices have been flat lately. Over a 4-year hold, expect sideways-to-modest — not a big jump.
On balance, the wind is against you.
What it means for you: At ~$1,728 psf, 38 I Suites is priced below similar new projects nearby — good value against its peers. Its own prices are only creeping up (~3.1%/yr over ~5 years). The real watch-out: about 2,896 brand-new units come up for sale in this district by 2028 — direct competition for when you sell. Buying near the top of the cycle just as that lands can cap your gains. So — use the incoming supply as your reason to negotiate the price down now, don't overpay, and plan to hold past the 4-year stamp-duty window before selling.
The signals behind it
Dots show how much weight each one carries.
Holds prices back
Prices are near the top — up 33% in 5 years, well above the 4.6%/year long-run pace. Less room left to climb.
Holds prices back
38 I Suites's own prices have softened — about -4% in the latest year.
About neutral
The city fringe (RCR) sits in the middle of the three areas on long-run growth.
Holds prices back
The government is still cooling the market — the latest was SSD back to 4 years at 16/12/8/4% (2025). That caps how fast prices can run.
Supports prices
Loan rates are cheap right now (~1.08%) and falling. Easy to carry — which supports prices, but also means more buyers competing with you.
Supports prices
Against salaries, prices aren't expensive by past standards — people can still afford to buy.
Supports prices
Lots of new people keep moving to Singapore (non-residents up ~16% over 5 years) — steady demand for homes and rentals.
Holds prices back
About 2,896 new units are still unsold in this district, with the first big batch finishing around 2028 — plenty of fresh supply that can hold prices and rents back.
Supports prices
New launches in this district are selling well — 15 recent ones are around 91% sold, so buyer demand here is healthy right now.
Holds prices back · small effect
The government keeps releasing a lot of new land (~9,200 units this half-year) — more future supply that can weigh on prices years down the road.
Holds prices back · small effect
Foreign buyers are almost gone since the 60% tax (~1.4% of buyers) — a small drag on the city fringe.
Holds prices back
Rents at 38 I Suites have slipped ~3% over the last couple of years — weaker support if you rent it out.
Supports prices · small effect
There's more CPF money sitting ready to put toward a home than a few years back — a small support in the background.
Supports prices · small effect
The economy is growing (5% last year) and jobs are steady (1.9% unemployment) — no alarm bells.
Supports prices · small effect
Building costs are high (up ~39% since 2010) and still creeping up — developers can't build cheap, which puts a floor under new-launch prices.
Built from real public data (URA price index back to 1975, plus rates, immigration, rents, the economy). It prepares you — it never promises a price.
How far could it go — and when?
Is the price high? ~$1,728 psf is ~37% below similar nearby projects (~$2,728). good value
(The whole city fringe average is ~$1,830 psf — but that lumps in older stock, so we compare like with like, not against that.)
What’s realistic here? Its own record and its real neighbours — not the market.
38 I Suites has grown ~3.1%/yr over ~5 years. Similar nearby: Grand Dunman 5.5%, Emerald Of Katong 6.3%, The Continuum -2.1%, Tembusu Grand 5.6%, Liv @ Mb 3.1% — a -2.1–6.3%/yr spread (most around 5.5%).
You can’t sell for ~4 years without a penalty. Seller’s Stamp Duty is 16/12/8/4% in years 1–4, then 0% — so the honest question is what happens from year 4 on.
What price per sqft are you hoping to sell at one day?
Our own read, not financial advice. We don’t predict a price — we show what your target would need, and when, against what this project and its real neighbours have actually done.
Median price
$1,088,000
2021–2026 (URA)
Appreciation
3.1%/yr
median trend
Gross yield
3.7%
~$5.34/psf rent
Lease
Freehold
38 I Suites median price per sqft, by year
Median PSF of actual URA transactions each year, with year-on-year change.
Does 38 I Suites fit your budget?
GrowKaki models the real take-home — net of stamp duty, agent fee, mortgage interest and CPF — for the exact unit your budget reaches, then hands you to an agent when you’re ready.
Plan your purchase →Units for sale at 38 I Suites
Questions people ask about 38 I Suites
Is 38 I Suites freehold or leasehold?
38 I Suites is a freehold development in District 15 (Rest of Central Region (RCR)). Freehold means there is no lease running down.
How much does 38 I Suites cost per square foot?
Recent transactions at 38 I Suites are around $1,728 psf. Across its record, transacted prices range from $720,000 to $1,450,000.
Which primary schools are near 38 I Suites?
Within 1 km (top Primary 1 priority): Haig Girls' School (0.73 km), Tanjong Katong Primary School (0.85 km), Kong Hwa School (0.89 km). Within 1–2 km: Geylang Methodist School (primary), Chij (katong) Primary, Tao Nan School. Distances are straight-line — the basis MOE uses for P1 priority.
Which MRT station is nearest 38 I Suites?
The nearest MRT is Paya Lebar MRT, about 820 m away (straight-line).
Has 38 I Suites gone up in value?
Across 39 URA-recorded transactions (2021–2026), prices at 38 I Suites have moved about 3.1% a year on average, with a gross rental yield near 3.7%. That is a past record, not a forecast.
What condos are comparable to 38 I Suites?
Within a short walk: The Continuum, Katong Regency, Haig Court, Tembusu Grand, Park Place Residences At Plq. These are the honest yardstick for its price and growth — closer and more alike than any whole-market average.
Is 38 I Suites a good buy?
38 I Suites sits in Rest of Central Region (RCR). Whether it is right for you depends on your budget, purpose and holding period — GrowKaki models the net take-home after stamp duty, agent fee and CPF. This is independent research, not advice, and a fair price is not automatically a good buy.