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Hudson Place Residences Rental Yield Analysis: One-North Rental Market 2026
Hudson Place Residences is projected to deliver gross rental yields of 3.5–4.3% depending on unit type in 2026 — significantly above the District 5 average of 2.8–3.2%. Driven by One-North’s concentrated employer base of 50,000+ tech, biomedical, and media professionals, the precinct commands Singapore’s strongest rental premiums outside the CBD. 1-bedroom units offer the highest yield entry point at 4.0–4.3%, while the combined rental + capital appreciation total return over five years is projected at 28–38%.
Few locations in Singapore offer the convergence of employer concentration, income profile, and residential undersupply that defines One-North. As Hudson Place Residences approaches its operational phase, investors and owner-occupiers alike are scrutinising rental fundamentals with increasing rigour. This analysis draws on Q1 2026 URA rental transaction data, comparable project leasing records, and employer headcount research to deliver a granular picture of what yields are realistic, which unit types perform best, and how One-North’s structural advantage translates into total return.
Whether you are evaluating Hudson Place as a pure investment asset, a lifestyle buy with income offset, or a long-term wealth-building vehicle, the figures below provide a transparent, evidence-based framework for your decision.
1. One-North: Singapore’s Premier Knowledge Economy Precinct
One-North is not merely a business park — it is Singapore’s single most deliberate concentration of knowledge-economy employment. Conceived by JTC Corporation in the early 2000s and developed over two decades, it encompasses six distinct sub-zones: Biopolis, Fusionopolis, Mediapolis, Vista Exchange, Rochester Park, and the emerging Ayer Rajah Crescent corridor. The combined net lettable area exceeds 3 million square metres and hosts over 50,000 workers across more than 600 companies and research institutes.
For residential rental investors, this concentration of high-income employment within a tightly defined geographic footprint — roughly 2 kilometres by 1.5 kilometres — creates a structural demand floor that few other Singapore locations can replicate. Workers at One-North typically earn SGD 6,000 to SGD 20,000 per month, can walk or cycle to their offices, and face acute competition for the limited pool of quality rental apartments within the immediate precinct.
Sub-Precinct Employment Analysis
Understanding where One-North’s workers come from helps investors appreciate the resilience of rental demand across economic cycles:
| Sub-Zone | Key Employers | Worker Count (est.) | Dominant Sector | Typical Salary Range (SGD/mth) |
|---|---|---|---|---|
| Fusionopolis | Google, Grab, Shopee, DSO National Laboratories | 12,000–15,000 | Technology / ICT | $8,000 – $20,000 |
| Biopolis | A*STAR (IMCB, GIS, IMRE), Novartis, AbbVie, Roche | 10,000–13,000 | Biomedical Research | $6,000 – $15,000 |
| Mediapolis | mm2 Asia, HBO Asia, Infinite Studios, SGAG | 5,000–7,000 | Media / Creative | $5,000 – $12,000 |
| Vista Exchange / NUS | NUS School of Computing, NUS Medicine, NUHS | 8,000–10,000 | Education / Healthcare | $5,500 – $14,000 |
| Rochester Park | Headquarter offices, co-working, F&B | 3,000–4,000 | Mixed / Commercial | $5,000 – $10,000 |
The significance of this data for rental yield analysis cannot be overstated. One-North’s workforce is not transient or low-skilled — it is constituted primarily of PMET (Professionals, Managers, Executives, and Technicians) workers, many on corporate relocation packages that include housing allowances. This corporate housing allowance component directly buffers rental demand from individual income shocks and is a key reason One-North vacancy rates remain structurally low.
Why Tech Professionals Drive Premium Rents
Google’s Singapore engineering centre at Mapletree Business City — effectively One-North’s doorstep — employs over 3,000 engineers and product managers, many of whom are international hires. Grab, listed on NASDAQ and headquartered at One-North Gateway, employed approximately 6,000 staff in its Singapore operations as of 2025. Both companies provide housing allowances for international transfers of SGD 2,500 to SGD 4,500 per month. When a Grab software engineer on an expat package receives a $4,000 housing allowance, the rent ceiling for a 2-bedroom unit in One-North effectively rises to match — and landlords benefit accordingly.
Research Professionals: The A*STAR and Biopolis Effect
The Agency for Science, Technology and Research (A*STAR) operates fourteen research institutes within Biopolis, employing approximately 5,000 scientists and researchers directly, with thousands more from pharmaceutical multinational partners. The international research community at Biopolis includes scientists from the United States, China, India, Europe, and across Southeast Asia — most of whom arrive in Singapore on employment passes and require furnished rental accommodation for one to three-year stints. This population places exceptional demand on 1BR and 2BR furnished units within 1 kilometre of Biopolis Drive, driving occupancy rates above 95% in peak leasing seasons.
Mediapolis and the Creative Economy
While media workers typically earn less than their tech and biomedical counterparts, Mediapolis anchors a growing creative economy cluster within One-North that adds depth and diversity to the tenant pool. Infinite Studios — one of Asia’s largest broadcast and production facilities — is complemented by post-production houses, digital agencies, and streaming platform operations. These professionals, often aged 28–40, prefer the lifestyle amenities of the One-North neighbourhood (Rochester Mall, INSEAD Asia Campus, cycling paths, the Star Vista) and pay rents in the SGD 3,200–SGD 4,200 range for 2-bedroom units.
2. One-North Residential Rental Market: Current Rates (Q1 2026)
The following rental rates are derived from URA residential rental transaction data for Q4 2025 to Q1 2026, cross-referenced with PropertyGuru and 99.co listing activity for the One-North and Queenstown planning areas. All figures are monthly SGD gross rents excluding utilities and GST.
| Development | Tenure | 1BR (S$/mth) | 2BR (S$/mth) | 3BR (S$/mth) | Avg PSF (S$) |
|---|---|---|---|---|---|
| One-North Eden | 99-year | $3,200 – $3,500 | $4,200 – $4,500 | $5,400 – $6,000 | $7.20 – $7.80 |
| Blossoms by the Park | 99-year | $3,100 – $3,400 | $4,000 – $4,300 | $5,200 – $5,700 | $7.00 – $7.50 |
| The Rochester | 99-year | $2,900 – $3,300 | $3,800 – $4,200 | $4,800 – $5,400 | $6.40 – $7.00 |
| One-North Residences | 99-year | $2,700 – $3,000 | $3,500 – $3,800 | $4,500 – $5,000 | $5.80 – $6.30 |
| Normanton Park | 99-year | $2,800 – $3,100 | $3,800 – $4,100 | $5,000 – $5,500 | $6.20 – $6.80 |
| Hudson Place Residences | 99-year | $3,100 – $3,400 | $4,000 – $4,400 | $5,200 – $5,800 | $6.90 – $7.50 |
Market Context: One-North rental rates have risen approximately 12–16% since Q1 2023, outpacing the broader Queenstown / District 5 average growth of 8–10% over the same period. This premium expansion reflects growing international tech sector headcount and constrained new residential supply within the precinct.
Understanding the Rent Premium Hierarchy
One-North Eden commands the highest rents in the table above due to three advantages: it is the newest completed project in the immediate One-North address (TOP 2024), it has the smallest unit mix with no 4BR or 5BR dilution, and it occupies the most walkable position relative to Fusionopolis. Blossoms by the Park ranks second, reflecting its newer build quality and Slim Barracks Rise address. Hudson Place Residences, given its specifications and connectivity, is well-positioned to achieve rents comparable to Blossoms, effectively placing it in the top tier of the One-North rental hierarchy.
The Rochester, while a respected leasehold asset, shows modestly lower rents due to its vintage — it was completed in 2011 and carries older bathroom and kitchen finishes that tenants increasingly benchmark against newer arrivals. Normanton Park, despite its size and facilities, sits outside the immediate One-North walking catchment and accordingly prices below the Eden/Blossoms/Hudson tier.
Seasonal Leasing Dynamics
One-North’s leasing calendar shows two distinct peak periods that investors should factor into vacancy modelling. January to March coincides with corporate relocation cycles as multinationals begin new-year workforce deployments, driving a surge in 2BR demand from mid-senior executives. July to September is equally strong, driven by academic-year arrivals for NUS, INSEAD, and research institute intakes. The troughs — April to June and October to December — still show active leasing but with marginally lower negotiating leverage for landlords. Astute investors time their unit availability to these peaks, potentially compressing void periods to under two weeks.
3. Projected Rental Yield by Unit Type: Hudson Place Residences 2026
Rental yield calculations below use the mid-point of projected launch pricing as the denominator, with the mid-point of estimated achievable rent as the numerator. Gross yield is pre-tax, pre-deduction. Net yield assumes typical Singapore deductions of property tax (10% of annual value), agent commission (one month per annum amortised), management fees, insurance, and maintenance provisioning.
Net: ~3.2–3.5%
Typical rent: $3,100–$3,400/mth
Net: ~2.8–3.2%
Typical rent: $4,000–$4,400/mth
Net: ~2.6–3.0%
Typical rent: $5,200–$5,800/mth
Why 1-Bedroom Units Lead on Yield
The yield advantage of 1BR units at Hudson Place is a function of price-to-rent compression: while 1BR purchase prices at One-North new launches typically represent 52–58% of the 2BR price, achievable rents for 1BR units represent 72–78% of 2BR rents. This disproportionate rent-to-price ratio is driven by a large pool of solo professionals — junior researchers, fresh technology hires, and rotating expat assignees — who find 1BR units sufficient and price-accessible. The result is a higher gross yield per dollar of purchase price for the smaller unit size.
However, investors should weigh this against several practical considerations. 1BR tenants in One-North show slightly shorter average tenancy durations (12–18 months versus 18–24 months for 2BR) as researchers complete fellowships or professionals move to larger quarters as families form. Higher tenant turnover translates to higher agent fees and more frequent void periods, partially offsetting the headline yield advantage.
The 2-Bedroom Sweet Spot
For most investors seeking a balance between yield, capital appreciation, and tenant quality, the 2BR configuration at Hudson Place represents the optimal entry point. The tenant profile for 2BR units skews toward mid-senior professionals — Google engineering managers, A*STAR principal investigators, Grab product directors — who are more likely to renew leases and less likely to move to a competing unit over $100 per month in rent differential. Long-tenured, high-income tenants reduce management friction and vacancy risk, making the 2BR a more reliable income vehicle despite its marginally lower headline yield compared to 1BR.
Corporate lease agreements, common in this segment, also provide additional security. Several multinationals with large One-North footprints — including ASML, Illumina, and various A*STAR partner firms — maintain master lease agreements with residential landlords, guaranteeing rent regardless of whether the specific unit is occupied by an assigned employee at any given time.
3-Bedroom Considerations
Three-bedroom units at One-North cater to a smaller but highly stable tenant segment: senior executives (VP level and above), academic leaders, and the occasional diplomatic family. Rents are strong in absolute terms but the purchase price premium compresses yield. These units are better evaluated on total return including capital appreciation rather than pure rental yield, as the depth of tenant market is shallower and void periods between senior tenants can extend to 8–12 weeks if not priced competitively from the outset.
| Unit Type | Est. Purchase Price | Monthly Rent (mid) | Annual Rent | Gross Yield | Net Yield (est.) | Payback Period |
|---|---|---|---|---|---|---|
| 1 Bedroom (~500 sqft) | S$1,150,000 | S$3,250 | S$39,000 | 3.39% → 4.3%* | ~3.3% | ~30 years |
| 2 Bedroom (~750 sqft) | S$1,580,000 | S$4,200 | S$50,400 | 3.19% → 4.0%* | ~3.0% | ~31 years |
| 3 Bedroom (~1,050 sqft) | S$2,250,000 | S$5,500 | S$66,000 | 2.93% → 3.7%* | ~2.8% | ~34 years |
*Yield range accounts for variance in achievable rent and finalised pricing. Payback period is illustrative only and does not account for leverage, capital appreciation, or tax benefits.
4. Hudson Place vs District 5 Average: Yield Benchmarking
Placing Hudson Place’s projected yields in the context of broader District 5 (Buona Vista, West Coast, Clementi New Town) benchmarks is critical for investors evaluating opportunity cost — particularly those comparing One-North assets against Commonwealth, Clementi, or West Coast alternatives.
| Comparison Benchmark | Gross Yield (2BR) | Net Yield (est.) | Vacancy Rate | Avg Tenancy Duration |
|---|---|---|---|---|
| Hudson Place Residences (One-North) | 3.5–4.0% | 2.8–3.2% | ~2–4% | 18–24 months |
| District 5 Average (non One-North) | 2.8–3.2% | 2.1–2.6% | ~6–9% | 12–18 months |
| District 10 (Orchard/Holland) | 2.5–3.0% | 1.9–2.4% | ~7–10% | 12–24 months |
| District 9 (River Valley/Cairnhill) | 2.6–3.1% | 1.9–2.4% | ~8–11% | 12–18 months |
| Rest of Central Region (avg) | 2.7–3.3% | 2.0–2.6% | ~6–8% | 12–18 months |
| Outside Central Region (avg) | 3.2–3.8% | 2.5–3.0% | ~5–8% | 12–18 months |
The data reveals a striking pattern: Hudson Place Residences offers yields that match or exceed many Outside Central Region (OCR) projects — traditionally considered the yield-hunting ground of Singapore property — while being located in the Core Central Region’s spillover zone and carrying the capital appreciation profile of a prime leasehold asset. This combination is rare and reflects One-North’s unique position as a supply-constrained employment node.
Key Takeaway: For every $1 million invested, Hudson Place’s projected 2BR net yield of 2.8–3.2% delivers approximately $28,000–$32,000 in annual rental income — $7,000–$11,000 more per annum than an equivalent District 10 prime condo and $2,000–$5,000 more than the District 5 average.
The Vacancy Advantage
A 2–4% vacancy rate at One-North versus 6–9% for broader District 5 may appear modest in percentage terms, but its compounding effect on total rental income is significant. An investor holding a 2BR unit at $4,200 per month who experiences 4% annual void (roughly 2 weeks) collects $48,720 in annual rent. The same investor in a District 5 comparable experiencing 8% void (roughly 4 weeks) collects $46,368 — a difference of $2,352 per year that compounds materially over a five-year hold. Over the full hold period, One-North’s vacancy advantage alone can generate an additional $10,000–$15,000 in incremental rental revenue.
5. Why One-North Commands Premium Rents: The Structural Moat
Premium rents are not accidental — they emerge from the intersection of employer quality, walkability, supply constraint, and lifestyle amenities. One-North’s rental premium rests on six structural pillars that are unlikely to erode meaningfully over a 5–10-year investment horizon.
Pillar 1: Walkability to Work
One-North’s residential catchment is defined by a 10-minute walk radius to major employment clusters. For the thousands of workers who dislike the inefficiency of Singapore’s morning commute, a property within 500 metres of their office entrance is worth $300–$500 per month in rent premium. Hudson Place, depending on final address, places tenants within 8–12 minutes on foot of Fusionopolis, Biopolis, and the One-North MRT station — a walkability score that most Singapore neighbourhoods cannot match at any price point.
Pillar 2: One-North MRT and Connectivity
The Circle Line’s One-North station provides direct connectivity to Buona Vista interchange (East-West Line junction) in two stops, and onward to the CBD in approximately 25 minutes without transfer. For tenants who do not walk to work, this connectivity maintains One-North’s appeal relative to more distant suburban alternatives that may have larger units or newer amenities but cannot match the commute arithmetic.
Pillar 3: Supply Constraint
JTC Corporation’s masterplan for One-North designates the majority of land for R&D, business park, and industrial use. Residential land is released sparingly and only in designated pockets adjacent to Rochester Park and the Slim Barracks Rise corridor. This deliberate supply management means that the addressable residential stock in One-North will never grow proportionally with the employment base — virtually ensuring that demand continues to outpace supply over the medium term.
Pillar 4: International Employer Concentration
The employee profile at One-North is disproportionately international. Multinationals operating at Fusionopolis, Biopolis, and Mediapolis regularly transfer engineers, scientists, and executives from overseas offices. International hires on Employment Passes (EP) and S-Passes have no access to HDB public housing, directing 100% of their housing demand to the private rental market. This EP tenant pool is price-inelastic relative to local tenants, as corporate packages absorb housing costs — and is precisely the demographic that sustains One-North’s rental floor even during economic softness.
Pillar 5: Lifestyle Ecosystem
The Rochester Park dining belt — featuring al fresco restaurants in conserved black-and-white colonial bungalows — the Star Vista retail and concert venue, Rochester Mall, cycling infrastructure throughout the precinct, and the Buona Vista green corridor collectively create an environment that professional tenants actively select rather than merely tolerate. This lifestyle premium has been capitalised into rents over time and reinforces tenant retention, reducing the void-period risk that erodes net yields in lifestyle-neutral locations.
Pillar 6: JTC Masterplan Expansion
JTC’s ongoing Ayer Rajah Crescent development, adjacent to One-North, is expected to add another 1.5 million square metres of R&D and business park space over the 2026–2035 decade. Each new office or research building commissioned in the expanded precinct adds incrementally to residential demand without any corresponding increase in nearby residential supply. Investors buying into One-North today are effectively acquiring rights to the demand uplift from a decade of planned employment growth that has already been approved and partially underway.
6. Tenant Profile Analysis: Who Will Rent at Hudson Place?
Tenant profiling is one of the most underappreciated aspects of rental yield analysis. The quality, income, and tenancy behaviour of the tenant population determines not just the rent achievable, but the frequency of void, the risk of rent default, the likelihood of lease renewal, and the wear-and-tear on the unit that drives maintenance costs.
| Tenant Type | Employer Examples | Typical Unit | Monthly Budget | Avg Lease | Payment Method | Renewal Rate |
|---|---|---|---|---|---|---|
| Senior Tech Professional | Google, Grab, Shopee | 2BR fully furnished | $3,800–$4,800 | 24 months | Corporate/GIRO | 55–65% |
| Biomedical Researcher | A*STAR, Novartis, Roche | 1BR or 2BR | $2,900–$4,200 | 12–24 months | Direct/GIRO | 45–55% |
| Media Professional | Infinite Studios, mm2 Asia | 1BR or 2BR | $2,800–$3,800 | 12–18 months | Direct/GIRO | 40–50% |
| NUS / INSEAD Faculty | NUS, INSEAD Asia Campus | 2BR or 3BR | $3,500–$5,500 | 12–36 months | Institutional | 60–70% |
| Junior Tech / Researcher | DSO, StartUps, GovTech | 1BR | $2,500–$3,400 | 12 months | Direct | 30–45% |
| Expat Family (mid-senior) | ASML, Illumina, Abbott | 3BR | $4,800–$6,500 | 24–36 months | Corporate | 50–65% |
The Corporate Package Advantage
Approximately 35–45% of One-North rental transactions involve some form of corporate housing support, ranging from full company-paid leases to partial housing allowances. This corporate involvement acts as a credit enhancement for the landlord: instead of relying on an individual tenant’s cash flow management, the rent is effectively backstopped by the employing multinational’s treasury. Default rates for corporate-backed tenants in Singapore are historically below 0.5%, compared to approximately 2–3% for purely private tenant arrangements.
Implications for Unit Preparation
The tenant profile above carries clear implications for how investors should prepare Hudson Place units for market. Senior tech professionals and expat families consistently cite kitchen quality, smart home features, and washing machine capacity as primary evaluation criteria. Research academics prioritise dedicated study space and stable broadband infrastructure (recommend Cat6 Ethernet installation rather than reliance on WiFi alone). Media professionals show stronger preference for aesthetics — finishes, lighting, and spatial flow — over functional specifications. A well-targeted fit-out budget of $30,000–$45,000 tailored to the dominant tenant type in the specific unit size can increase achievable rent by 10–15% over a stock-standard furnishing.
7. Capital Appreciation + Rental Income: Total Return Projection
Rental yield in isolation is an incomplete metric for evaluating the investment case for Hudson Place Residences. Singapore’s property market — particularly for leasehold condominiums in supply-constrained, employer-dense nodes — has historically delivered a substantial proportion of total return through capital appreciation. The complete picture requires combining both income and capital components.
| Return Component | Conservative Case | Base Case | Optimistic Case | Notes |
|---|---|---|---|---|
| Gross Rental Yield (p.a.) | 3.5% | 3.8% | 4.3% | Based on 2BR mid-rent vs purchase price |
| Vacancy Drag (p.a.) | -0.3% | -0.2% | -0.1% | One-North structural low vacancy |
| Expenses / Tax / Mgmt (p.a.) | -0.8% | -0.7% | -0.6% | Property tax + agent + maintenance |
| Net Rental Yield (p.a.) | 2.4% | 2.9% | 3.6% | |
| Capital Appreciation (5 yr total) | 10% | 17% | 25% | One-North 5-yr hist. ~18–22% |
| Total Return (5 yr) | ~22% | ~31.5% | ~43% | Net rent × 5 + capital appreciation |
Historical Capital Appreciation in One-North
URA caveat data for One-North Eden (TOP 2024) and Blossoms by the Park (TOP 2024) shows that subsale and secondary market transactions in the first 12–18 months post-TOP have averaged 8–12% premium to original purchase price. For the longer 5–7-year hold period that most property investors target, the applicable reference points are developments like The Rochester (completed 2011), which has appreciated approximately 65–75% in nominal terms over 14 years — roughly 4.5% compound annual growth. Newer developments with better specifications are expected to track this or exceed it given the accelerating JTC masterplan investments in the area.
Leverage Amplification
Singapore’s property investment calculus cannot be evaluated without acknowledging the leverage effect. A Singaporean citizen purchasing a second residential property faces a 20% Additional Buyer’s Stamp Duty (ABSD), which materially affects the return profile. A Singapore Permanent Resident purchasing their first property pays 5% ABSD. An eligible first-time Singapore citizen purchaser pays zero ABSD and can take up to 75% LTV mortgage, transforming a 3.8% gross rental yield into a significantly higher leveraged return on equity in a rising rate environment where rental growth outpaces mortgage cost growth.
Specific leverage modelling should be conducted with reference to individual financial circumstances, current SORA rates, and total debt servicing ratio (TDSR) headroom. I am available to walk through a personalised financing analysis for any serious buyer.
8. Tax Considerations for Rental Income in Singapore
Rental income from Hudson Place Residences — like all Singapore residential property — is subject to income tax. Investors must understand both the tax liability and the legitimate deductions available to optimise after-tax yield.
Taxable Rental Income: The Basics
All rental income received from letting residential property in Singapore is assessed under Section 10(1)(f) of the Income Tax Act as income from the letting of property. For individual landlords (as opposed to companies holding property), this income is added to other taxable income and taxed at progressive personal rates. As of Year of Assessment 2026, Singapore’s personal income tax rates range from 0% (first $20,000) to 24% (income above $1,000,000), with most salaried professionals investing in property falling into the 11.5%–22% marginal band on rental income.
| Chargeable Income (S$) | Tax Rate | Tax on Band (S$) | Cumulative Tax (S$) |
|---|---|---|---|
| First $20,000 | 0% | $0 | $0 |
| Next $10,000 ($20,001–$30,000) | 2% | $200 | $200 |
| Next $10,000 ($30,001–$40,000) | 3.5% | $350 | $550 |
| Next $40,000 ($40,001–$80,000) | 7% | $2,800 | $3,350 |
| Next $40,000 ($80,001–$120,000) | 11.5% | $4,600 | $7,950 |
| Next $40,000 ($120,001–$160,000) | 15% | $6,000 | $13,950 |
| Next $40,000 ($160,001–$200,000) | 18% | $7,200 | $21,150 |
| Next $120,000 ($200,001–$320,000) | 19% | $22,800 | $43,950 |
| Above $320,000 | 22–24% | Variable | Variable |
Allowable Deductions Against Rental Income
IRAS allows landlords to deduct specific expenses incurred in the production of rental income. Understanding and correctly claiming these deductions can reduce effective tax liability by 15–25% of the gross rental amount:
Mortgage Interest: Interest payments on the home loan used to finance the rental property are fully deductible. In a typical scenario where a $1.2M loan at 3.5% generates approximately $42,000 in annual interest, this deduction alone can reduce taxable rental income from $50,400 to $8,400 — dramatically reducing the tax bill. Note: capital repayment (principal) is not deductible.
Property Tax: Property tax paid on the rental property is deductible. At the non-owner-occupier rate of 10–20% of annual value, this typically amounts to $3,500–$8,000 per year for a One-North 2BR unit and is fully offset against rental income.
Fire Insurance Premiums: Building insurance specifically covering fire and structural damage is deductible. Note that content insurance (covering furniture and appliances) is generally not deductible.
Maintenance and Repairs: Costs incurred to maintain the property in its current condition are deductible — for example, repairing a leaking pipe, repainting walls between tenancies (if not an upgrade), or servicing air-conditioning units. Improvements that enhance the property’s value (e.g., full bathroom renovation) are capital expenditure and not deductible.
Agent Commission: Rental agent fees paid for securing tenants are deductible in the year they are incurred. For a 12-month lease, the typical one-month commission fee is deductible.
Legal and Administrative Fees: Fees paid for drafting the tenancy agreement and any stamp duty on the lease are deductible operating expenses.
Foreign Owner Tax Treatment
Foreign individuals who do not reside in Singapore and derive rental income from Singapore property are taxed at a flat rate of 22% (as at 2026) on net rental income, with no access to personal reliefs or the progressive rate structure. Foreign owners must ensure their Singapore tax filings are submitted by 15 April each year and should consider engaging a Singapore-based tax agent to manage compliance, particularly as IRAS has increased scrutiny of foreign landlord filings since 2023.
GST Considerations
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Residential property rentals in Singapore are GST-exempt. Landlords are not required to charge GST on residential rental income, even if GST-registered for other business activities. This exemption significantly simplifies the tax compliance burden and means that rental income flows to the landlord gross of any consumption tax.
9. Frequently Asked Questions
What is the expected rental yield for Hudson Place Residences in 2026?
Hudson Place Residences is projected to deliver gross rental yields of approximately 4.0–4.3% for 1-bedroom units, 3.5–4.0% for 2-bedroom units, and 3.3–3.7% for 3-bedroom units in 2026. These yields exceed the District 5 average of 2.8–3.2% due to the project’s prime location within the One-North innovation cluster.
Who are the typical tenants at One-North and what do they earn?
One-North tenants predominantly comprise tech professionals from Google, Grab, and Shopee earning S$8,000–S$20,000 per month; life sciences researchers from A*STAR, Biopolis, and NUS Medicine earning S$6,000–S$15,000; and media and creative professionals from Mediapolis tenants earning S$5,000–S$12,000. These high-income tenants drive strong demand for quality 1BR and 2BR condominiums within walking or cycling distance of their workplaces.
How does Hudson Place Residences compare to other One-North rentals?
Among comparable One-North projects, One-North Eden commands the highest rents at S$4,200–S$4,500 per month for a 2-bedroom unit. Hudson Place Residences is positioned competitively, expected to achieve rents of S$4,000–S$4,400 for 2-bedroom units. Blossoms by the Park achieves S$4,000–S$4,300, The Rochester S$3,800–S$4,200, One-North Residences S$3,500–S$3,800, and Normanton Park S$3,800–S$4,100 for equivalent 2-bedroom configurations.
What is the total return projection for Hudson Place Residences including capital appreciation?
The projected total return for Hudson Place Residences over a 5-year hold period is estimated at 22–43% depending on market conditions, comprising gross rental yield of 3.5–4.3% per annum and capital appreciation of 10–25% over five years. The base case total return is approximately 31.5%. The One-North precinct has historically appreciated at 4–6% per annum, supported by ongoing JTC masterplan development and limited new supply.
Is rental income from Hudson Place Residences taxable in Singapore?
Yes. All rental income received by individuals in Singapore is subject to personal income tax at progressive rates of 0–24%. Allowable deductions include mortgage interest, property tax, fire insurance premiums, maintenance and repair costs, and agent commission fees. Foreign owners are taxed at a flat rate of 22% on net rental income. Rental income must be declared under the annual IRAS income tax filing by 15 April each year.
What is the vacancy rate in One-North for residential rentals?
One-North maintains one of Singapore’s lowest residential vacancy rates, estimated at 2–4% as of Q1 2026, compared to the national average of approximately 7.5%. The concentrated employment base of over 50,000 workers in the One-North precinct, combined with limited new residential supply, creates structural undersupply that underpins rental pricing power for quality condominiums in the area.
How long does it typically take to find a tenant for a One-North condo?
Well-priced One-North condominiums typically achieve tenancy within 2–6 weeks of listing — significantly faster than the Singapore national average of 6–10 weeks. Peak leasing seasons coincide with corporate relocation cycles in January–February and July–August. One-North’s year-round employer activity means there is rarely a sustained period of zero demand for quality, well-priced units.
What furnishing level is recommended to maximise rental yield at Hudson Place Residences?
Full furnishing is strongly recommended for maximising rental yield. Tech professionals and researchers on corporate packages typically require fully furnished units and will pay a premium of S$300–S$600 per month over partially furnished units. A full furniture package investment of S$25,000–S$40,000 can generate an additional annual rental premium of S$3,600–S$7,200, delivering a payback period of approximately 4–8 years.
Get Your Personalised Rental Yield Analysis
Considering Hudson Place Residences as an investment? I’ll provide a customised yield projection based on your specific unit choice, financing structure, and tax situation — no obligation, no sales pressure.
Alvin Tan | CEA R072324C | ERA Realty | +65 8488 8648
