Race Course 138
Race Course Road · District 08 · Rest of Central Region (RCR) · Freehold
Race Course 138 is an apartment development in District 08 (RCR). Based on 10 URA-recorded transactions from 2022–2026, its median price is $1,250,000, with prices moving about 6.7%/yr.
The verdict · for an investor
Race Course 138 · Apartment · District 08 · Freehold
On balance, Race Course 138 points up.
Strong track record — the fundamentals buyers pay up for are here.
Why it's pushing up
What matters most for you
- Convenient — MRT about 5 min on foot; 20 supermarkets, 6 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 — 4-bed +29.4% since 2022.
- A Primary-1 priority school within 1km — a real family draw.
What's holding it back
- Its recent +6.7%/yr rode a hot cycle — don't bank on that pace repeating.
- The market's near the top of its cycle — mind your entry price.
Should I buy?
If you'll hold 5+ years and don't overpay.
Rental yield
no rent record yet
Priced vs nearby
priced under the walkable neighbours.
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 1,141 sqft (4-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 1,141 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
≤ $1.31M
Aim at the middle or below. A patient buyer has been getting closer to $1.26M.
If you’re selling
~$1.37M
List at the top of fair; realistic close is $1.31M–$1.33M 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: ~$1.20M 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 (~6.7%/yr), and past pace never promises the future.
Built from URA transactions for Race Course 138 — an opinion to decide and negotiate with, never a valuation and never financial advice.
If you’re buying — the outlook
Race Course 138
Rest of Central Region (RCR) · District 08 · ~$1,052 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 Race Course 138, 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 roughly even.
What it means for you: At ~$1,052 psf, Race Course 138 is priced below similar new projects nearby — good value against its peers. Its own prices are still climbing (~6.7%/yr over ~4 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.
Holds prices back
Race Course 138's own prices have softened — about -6% 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 · 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? ~$1,052 psf is ~52% below similar nearby projects (~$2,213). 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.
Race Course 138 has grown ~6.7%/yr over ~4 years. Similar nearby: Piccadilly Grand 2.7%, Citylights 3.2%, City Square Residences 4.6%, Sturdee Residences 3.4% — a 2.7–4.6%/yr spread (most around 3.4%).
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
$1,250,000
2022–2026 (URA)
Appreciation
6.7%/yr
median trend
Gross yield
—
rental n/a
Lease
Freehold
Race Course 138 median price per sqft, by year
Median PSF of actual URA transactions each year, with year-on-year change.
Does Race Course 138 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 Race Course 138
Questions people ask about Race Course 138
Is Race Course 138 freehold or leasehold?
Race Course 138 is a freehold development in District 08 (Rest of Central Region (RCR)). Freehold means there is no lease running down.
How much does Race Course 138 cost per square foot?
Recent transactions at Race Course 138 are around $1,052 psf. Across its record, transacted prices range from $630,000 to $1,725,000.
Which primary schools are near Race Course 138?
Within 1 km (top Primary 1 priority): Farrer Park Primary School (0.33 km), St. Margaret's School (primary) (0.96 km). Within 1–2 km: St. Joseph's Institution Junior, Anglo-chinese School (junior), Hong Wen School. Distances are straight-line — the basis MOE uses for P1 priority.
Which MRT station is nearest Race Course 138?
The nearest MRT is Farrer Park MRT, about 350 m away (straight-line).
Has Race Course 138 gone up in value?
Across 10 URA-recorded transactions (2022–2026), prices at Race Course 138 have moved about 6.7% a year on average. That is a past record, not a forecast.
What condos are comparable to Race Course 138?
Within a short walk: Piccadilly Grand, Uptown @ Farrer, City Square Residences, Parc Emily, Kerrisdale. These are the honest yardstick for its price and growth — closer and more alike than any whole-market average.
Is Race Course 138 a good buy?
Race Course 138 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.