The Essence
Chong Kuo Road · District 26 · Outside Central Region (OCR) · 99 yrs lease commencing from 2018
The Essence is an apartment development in District 26 (OCR). Based on 18 URA-recorded transactions from 2021–2026, its median price is $1,085,000, with prices moving about 1.8%/yr.
The verdict · for an investor
The Essence · Apartment · District 26 · Leasehold
The Essence 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 9 min on foot.
- Rentable — steady rental demand; transport nearby keep tenants coming.
And what makes it better
- Every unit type has risen — 2-bed +9.1% since 2021.
- Inside Woodlands Regional Centre — a government-committed long-term catalyst.
What's holding it back
- No Primary-1 priority school within 1km.
- 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
no rent record yet
Priced vs nearby
no walkable comparables
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 538 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 538 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
≤ $0.84M
Aim at the middle or below. A patient buyer has been getting closer to $0.81M.
If you’re selling
~$0.88M
List at the top of fair; realistic close is $0.84M–$0.85M 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: ~$164k 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 (~1.8%/yr), and past pace never promises the future.
Built from URA transactions for The Essence — an opinion to decide and negotiate with, never a valuation and never financial advice.
If you’re buying — the outlook
The Essence
Outside Central Region (OCR) · District 26 · ~$1,459 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 The Essence, 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 ~$1,459 psf, The Essence is priced below similar new projects nearby — good value against its peers. Its own prices are only creeping up (~1.8%/yr over ~5 years). The real watch-out: about 3,789 brand-new units come up for sale in this district by 2026 — 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
The Essence's own prices have softened — about -6% in the latest year.
Holds prices back
The suburbs (OCR) grew fastest since 2004 — a lot of that gain is already in, so there's more risk it cools from here.
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 3,789 new units are still unsold in this district, with the first big batch finishing around 2026 — plenty of fresh supply that can hold prices and rents back.
Supports prices
New launches in this district are selling well — 6 recent ones are around 100% 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.
About neutral · small effect
Foreign buyers are almost gone since the 60% tax (~1.4% of buyers), but the suburbs never leaned on them — so it barely affects you here.
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? ~$1,459 psf is ~34% below similar nearby projects (~$2,203). good value
(The whole suburbs average is ~$1,534 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.
The Essence has grown ~1.8%/yr over ~5 years. Similar nearby: Springleaf Residence -0.8%, Lentor Modern 4.2%, Lentor Hills Residences 3.6%, Lentor Mansion -0.4%, Hillock Green 6.6% — a -0.8–6.6%/yr spread (most around 3.6%).
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
$1,085,000
2021–2026 (URA)
Appreciation
1.8%/yr
median trend
Gross yield
—
rental n/a
Lease
~91 yrs left
leasehold
The Essence median price per sqft, by year
Median PSF of actual URA transactions each year, with year-on-year change.
Does The Essence 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 The Essence
Questions people ask about The Essence
Is The Essence freehold or leasehold?
The Essence is on a 99-year lease that began in 2018, so about 91 years remain. It sits in District 26 (Outside Central Region (OCR)).
How much does The Essence cost per square foot?
Recent transactions at The Essence are around $1,459 psf. Across its record, transacted prices range from $700,000 to $1,810,000.
Which MRT station is nearest The Essence?
The nearest MRT is Springleaf MRT, about 610 m away (straight-line).
Has The Essence gone up in value?
Across 18 URA-recorded transactions (2021–2026), prices at The Essence have moved about 1.8% a year on average. That is a past record, not a forecast.
What condos are comparable to The Essence?
Within a short walk: Springleaf Residence. These are the honest yardstick for its price and growth — closer and more alike than any whole-market average.
Is The Essence a good buy?
The Essence sits in Outside Central Region (OCR). 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.