Nova 48
Prome Road · District 12 · Rest of Central Region (RCR) · Freehold
Nova 48 is an apartment development in District 12 (RCR). Based on 10 URA-recorded transactions from 2022–2025, its median price is $1,655,000, with prices moving about 3.2%/yr.
The verdict · for an investor
Nova 48 · Apartment · District 12 · Freehold
Nova 48 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; 15 supermarkets, 8 food & retail spots nearby.
- Rentable — steady rental demand; transport and schools nearby keep tenants coming.
And what makes it better
- Every unit type has risen — 3-bed +9.8% since 2022.
- A Primary-1 priority school within 1km — a real family draw.
- Inside Kallang – Sports Hub & riverside — a government-committed long-term catalyst.
What's holding it back
- MRT is a real walk — Novena MRT, about 13 min.
- The market's near the top of its cycle — mind your entry price.
- Larger units — entry starts around $1.62M, not an easy first step.
Should I buy?
There's a case — weigh the caveats first.
Rental yield
no rent record yet
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 936 sqft (3-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 936 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
≤ $1.62M
Aim at the middle or below. A patient buyer has been getting closer to $1.56M.
If you’re selling
~$1.69M
List at the top of fair; realistic close is $1.62M–$1.64M 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: ~$600k 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 (~3.2%/yr), and past pace never promises the future.
Built from URA transactions for Nova 48 — an opinion to decide and negotiate with, never a valuation and never financial advice.
If you’re buying — the outlook
Nova 48
Rest of Central Region (RCR) · District 12 · ~$1,768 psf
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 Nova 48, its own prices are still climbing. Over a 4-year hold, expect modest growth — not a big jump.
On balance, the wind is leaning to your favour.
What it means for you: At ~$1,768 psf, Nova 48 is priced below similar new projects nearby — good value against its peers. Its own prices are only creeping up (~3.2%/yr over ~3 years). You'd also be buying near the top of the cycle, so entry price matters. So — negotiate, 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.
Supports prices
Nova 48's own prices are still climbing — about +2% in the latest year of sales.
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.
Supports prices
Not many new units are being built in this district (~777) — less new supply competing with you.
Supports prices
New launches in this district are selling well — 3 recent ones are around 95% 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.
About neutral
Rents across Singapore have flattened out lately.
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? ~$1,768 psf is ~16% below similar nearby projects (~$2,100). 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.
Nova 48 has grown ~3.2%/yr over ~3 years. Similar nearby: The Orie 4.9%, Eight Riversuites 4.8%, Gem Residences 3.2%, Trevista 7.9%, Verticus 2.7% — a 2.7–7.9%/yr spread (most around 4.8%).
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
$1,655,000
2022–2025 (URA)
Appreciation
3.2%/yr
median trend
Gross yield
—
rental n/a
Lease
Freehold
Nova 48 median price per sqft, by year
Median PSF of actual URA transactions each year, with year-on-year change.
Does Nova 48 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 Nova 48
Questions people ask about Nova 48
Is Nova 48 freehold or leasehold?
Nova 48 is a freehold development in District 12 (Rest of Central Region (RCR)). Freehold means there is no lease running down.
How much does Nova 48 cost per square foot?
Recent transactions at Nova 48 are around $1,768 psf. Across its record, transacted prices range from $1,480,000 to $2,080,000.
Which primary schools are near Nova 48?
Within 1 km (top Primary 1 priority): St. Joseph's Institution Junior (0.89 km). Within 1–2 km: Hong Wen School, Chij Primary (toa Payoh), Kheng Cheng School. Distances are straight-line — the basis MOE uses for P1 priority.
Which MRT station is nearest Nova 48?
The nearest MRT is Novena MRT, about 770 m away (straight-line).
Has Nova 48 gone up in value?
Across 10 URA-recorded transactions (2022–2025), prices at Nova 48 have moved about 3.2% a year on average. That is a past record, not a forecast.
What condos are comparable to Nova 48?
Within a short walk: Verticus, Prestige Heights, The Interweave, Vista Residences, Soleil @ Sinaran. These are the honest yardstick for its price and growth — closer and more alike than any whole-market average.
Is Nova 48 a good buy?
Nova 48 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.