Mount Pleasant – A Pleasant Place to Live?

During Budget 2025, Prime Minister Lawrence Wong made a series of announcements with regards to the housing market. Among them was the official confirmation that we will see the inaugural launch of public housing Build-To-Order (BTO) flats in Mount Pleasant during the October 2025 BTO launch.  

Mount Pleasant, located in the central region of Singapore, named after a hill located within its boundaries. The area is well known for its many black and white bungalows, which used to be home to senior officers of the (former) Police Academy, which has since been torn down. 33 hectares of land, inclusive of the former location of the police academy and its surrounding areas will now house these BTO projects.

The boundaries of the upcoming Mount Pleasant public housing estate

What can we expect from this new housing estate?

This Mount Pleasant HDB estate can be seen as an extension of Toa Payoh – its nearest and adjacent HDB town. It will experience the same city-fringe convenience and connectivity. While there are currently no amenities located in the immediate vicinity, residents can take advantage of the estate’s proximity to Toa Payoh, Balestier and Thomson, where there are plenty of amenities to be found.  

Considering its location being near the central region of Singapore, and having immediate access to an MRT station (such as Bayshore and Tanjong Rhu that have launched recently), we can expect this project to be a Plus or Prime project. In short, they would come with tighter resale and rental restrictions, such as a longer 10-year Minimum Occupation Period (MOP), subsidy clawback upon resale, and a resale income ceiling.

Moreover, its neighbouring and closest HDB town, Toa Payoh, is regularly among the top five HDB towns in the number of million-dollar flats transacted annually. The closest HDB flats to the Mount Pleasant housing estate are those located in Toa Payoh West, within the vicinity of Caldecott MRT station.

Location attributes: schools, amenities, transport and connectivity

Schools

Those with or looking to have children (particularly daughters) will be pleased to know that the Mount Pleasant HDB estate will very likely be within the 1km priority enrolment distance of prominent primary schools, such as But this is subject to eventual confirmation by the government.

ACS Primary currently sits within 1km of the site, but is expected to shift to its new location in Tengah in 2030. It is unsure if the grounds that hold the current school will be repurposed to host another school in the future, or be used for other forms or urban redevelopment.

Image 2: Schools within the vicinity of Mount Pleasant Road, where the projects will be built around

Source: OneMap, ERA Research and Market Intelligence as at 8 May 2025

What About Future Resale-ability?

While there are no existing housing projects in the direct locale, the nearest comparable projects would be those located in Toa Payoh West, along Lorong 1 Toa Payoh and close by to Caldecott MRT station.

There is a lack of newer flats in the locale around Toa Payoh West/Caldecott MRT. As of May 2025, there are only 2,727 3-room and larger flats under 15 years of age in Toa Payoh town itself. Their scarcity has caused property prices to grow at an extremely fast pace in the area.

In fact, the average resale price of 4-room flats aged under 15 years in this sample area was $1.07 million, with the average for 5-room flats at a whopping $1.38 million across the past year.

Chart 1: Average resale prices of 4-room and larger HDB flats under 15 years old

Source: HDB, ERA Research and Market Intelligence as at 7 May 2025

Does this necessarily mean that scoring a unit in the Mount Pleasant BTO launch is the next golden ticket? The answer might not as straightforward as it seems.

A combination of factors make these projects attractive for future resale buyers: from its city fringe location, doorstep MRT convenience, and charming location surrounded by the lush greenery of Singapore’s central water catchment areas. All of this is on top of the fantastic price performance of nearby Toa Payoh West resale flats, which share some of the same attributes.

This demand will be therefore balanced by the fact that these projects will be classified most likely under “Prime”, or at the very least “Plus”. In the upcoming July BTO launch, we will see a Toa Payoh project, that is likely to fall under the Prime category as well. The categorisation and pricing of that project will likely be indicative of what to expect from the upcoming Mount Pleasant HDB project.

Conclusion

If you are a first-time homebuyer, could the Mount Pleasant HDB project be something worth considering?

The project differs itself from other BTO flats as it is an entirely new housing estate built on a conserved piece of land in the city fringe. Most other projects in new, or up-and-coming estates are located in farther-out satellite towns, such as Tengah, or the future Bayshore precinct.

Its unique locational and features stand out with its close proximity to prime districts 10 and 11, and access to an already-built MRT station. This is an extremely convenient location to stay in – connectivity wise, and is sure to attract homebuyers purely for that reason. This project could also be a great option for those who want to stay close by to family residing in Toa Payoh, Stevens, or Novena.

BTO flats with strong locational attributes are now balanced by having tighter resale restrictions – buyers now have to exercise more discretion when applying for a new flat.

However, if your primary objective is asset progression, you are probably better off going for one of the standard projects in the year. A standard flat with a 5-year MOP would be the most flexible when it comes to resale restrictions, allowing for swift progression in your property journey.

Overall, everyone’s property journey is unique – being presented with the facts, you can now decide if Mount Pleasant’s BTO project is the right move for you. If you have any further inquiries, do not hesitate to reach out to an ERA trusted adviser today!

Disclaimer

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