The M
Middle Road · District 07 · Core Central Region (CCR) · 99 yrs lease commencing from 2019
The M is an apartment development in District 07 (CCR). Based on 105 URA-recorded transactions from 2021–2026, its median price is $1,787,000, with prices moving about -0.9%/yr and a gross rental yield near 3.9%.
The verdict · for an investor
The M · Apartment · District 07 · Leasehold
The M 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 3 min on foot; 18 supermarkets, 10 food & retail spots nearby.
- Rentable — ~3.9% gross yield; transport nearby keep tenants coming.
And what makes it better
- 3-bed has risen since 2021.
- Steady ~3.9% gross rental yield.
What's holding it back
- The 1-bed, 2-bed have lagged (−13.9%, −4.3%).
- 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
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 527 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 527 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
≤ $1.49M
Aim at the middle or below. A patient buyer has been getting closer to $1.44M.
If you’re selling
~$1.55M
List at the top of fair; realistic close is $1.49M–$1.51M 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: ~$512k 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 (~3.0%/yr), and past pace never promises the future.
Built from URA transactions for The M — an opinion to decide and negotiate with, never a valuation and never financial advice.
If you’re buying — the outlook
The M
Core Central Region (CCR) · District 07 · ~$2,485 psf · 3.9% 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 The M, 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 ~$2,485 psf, The M is priced below similar new projects nearby — good value against its peers. But its own prices have gone flat (~-0.9%/yr over ~5 years). At this prime end foreign buyers are taxed out, so demand is thin — the seller may be more stuck than you are. So — push hard on price — this is a buyer's situation. If the seller won't move, walk; there's no rush.
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 M's own prices have softened — about -6% in the latest year.
Supports prices
The prime districts (CCR) lagged the others since 2004 — more room to catch up.
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.
About neutral
New launches in this district are selling at a middling pace (~67% sold).
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
Foreign buying has collapsed since the 60% tax — only ~1.4% of buyers now. For the prime market you're looking at, that's a real missing piece of demand.
About neutral
Rents at The M have been flat over the last couple of years.
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? ~$2,485 psf is ~17% below similar nearby projects (~$3,006). good value
(The whole prime average is ~$2,284 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 M has grown ~-0.9%/yr over ~5 years. Similar nearby: Midtown Modern 5.4%, Duo Residences 0.3%, Concourse Skyline 1.4%, Midtown Bay 2.8% — a 0.3–5.4%/yr spread (most around 2.8%).
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
$1,787,000
2021–2026 (URA)
Appreciation
-0.9%/yr
median trend
Gross yield
3.9%
~$8.09/psf rent
Lease
~92 yrs left
leasehold
The M median price per sqft, by year
Median PSF of actual URA transactions each year, with year-on-year change.
Does The M 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 M
Questions people ask about The M
Is The M freehold or leasehold?
The M is on a 99-year lease that began in 2019, so about 92 years remain. It sits in District 07 (Core Central Region (CCR)).
How much does The M cost per square foot?
Recent transactions at The M are around $2,485 psf. Across its record, transacted prices range from $908,000 to $2,588,000.
Which primary schools are near The M?
Within 1–2 km: St. Margaret's School (primary), Farrer Park Primary School. Distances are straight-line — the basis MOE uses for P1 priority.
Which MRT station is nearest The M?
The nearest MRT is Bugis MRT, about 230 m away (straight-line).
Has The M gone up in value?
Across 105 URA-recorded transactions (2021–2026), prices at The M have moved about -0.9% a year on average, with a gross rental yield near 3.9%. That is a past record, not a forecast.
What condos are comparable to The M?
Within a short walk: Midtown Modern, Midtown Bay, Duo Residences, The Bencoolen, Concourse Skyline. These are the honest yardstick for its price and growth — closer and more alike than any whole-market average.
Is The M a good buy?
The M sits in Core Central Region (CCR). 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.