Renting out a 2-bedroom at Thomson Reserve: rent, tenants, and the yield against a resale 2-bedroom nearby

A 2-bedroom bought at Thomson Reserve today earns no rent until the developers hand over the keys, expected on 28 February 2031. This note looks at what 2-bedrooms near here rent for, how many tenants they draw, what that rent would be as a yield on Thomson Reserve's prices against buying a 2-bedroom on resale nearby, and how 2-bedroom rents here have moved.

Rent in this note is the monthly rent in URA's records of private leases. Gross yield is a year's rent as a share of the price, before any cost.

More on this: what a 2-bedroom here could make, rent and price together

What is in this note

• The short answer
• What 2-bedrooms near here rent for
• The yield: Thomson Reserve or a resale 2-bedroom
• Rent at handover
• Supply and demand
• What the numbers cannot weigh

The short answer

• Rent nearby. Over the past year, 2-bedrooms at the four condos this series compares with Thomson Reserve (Thomson Three, Thomson Impressions, Thomson Grand and Jadescape) rented for a median of $4,000 a month; at Jadescape, the newest of the four condos, $4,500.
• Tenants. For every 100 homes with 2 bedrooms at those condos, 21 new leases were signed in the year.
• Buying today. At $1.544M and today's rent, Thomson Reserve's cheapest 2-bedroom would yield 3.11%. A 2-bedroom bought on resale near here today yields 2.34% to 3.28%, so Thomson Reserve's figure is within that range. A resale buyer collects rent from the start; Thomson Reserve's buyer waits 4 years and 4 months for the keys, which is about $208,000 of rent at $4,000 a month.
• A range for Thomson Reserve. At rents of $3,819 to $4,500 and prices of $2,608 to $3,300 psf, the cheapest 2-bedroom would yield 2.35% to 3.50%.
• Earlier launch buyers. 2-bedroom launch buyers near here earned a gross yield of 2.25% to 4.50% on what they paid in the first year after completion. Today that yield is higher at every launch except the two most recently completed, Jadescape and AMO Residence.
• At handover. In their first year of leases, a new condo's 2-bedrooms rented for more than 2-bedrooms at the other condos nearby at 4 of 8 launches, and for less at 4.
• Supply and demand. From 2014 to 2017, 1,169 homes with 2 bedrooms were completed nearby. 2-bedroom leases signed nearby rose from 211 to 536 a year, and the median 2-bedroom rent fell 21% near here against 20% across Singapore.

More on this: 2-bedroom launch prices here and how their buyers did

What 2-bedrooms near here rent for

Leases signed from September 2025 to August 2026.

Condo	Leases	Median rent	Leases per 100 homes
Thomson Three	50	$3,819	30
Thomson Impressions	15	$3,900	21
Thomson Grand	23	$4,080	21
Jadescape	70	$4,500	17
The four comparison condos	158	$4,000	21

Thomson Reserve's cheapest 2-bedroom, 592 sq ft, is smaller than most 2-bedrooms leased nearby. At the four comparison condos, the 77 leases of 2-bedrooms close to its size had a median rent of $3,900.

The yield: Thomson Reserve or a resale 2-bedroom

Buying today

What a 2-bedroom bought today would yield at today's rent: on resale at the condos near here, or at Thomson Reserve.

2-bedroom	Price	Rent a month	Gross yield
Sky Vue, resale	$1.54M	$4,200	3.28%
Jadescape, resale	$1.73M	$4,500	3.12%
The Gardens at Bishan, resale	$1.54M	$3,900	3.04%
Thomson Impressions, resale	$1.60M	$3,900	2.93%
Thomson Three, resale	$1.58M	$3,819	2.91%
AMO Residence, resale	$1.85M	$3,600	2.34%
Thomson Reserve, cheapestrent from 2031	$1.544M	$4,000	3.11%

At its starting price and today's rent, Thomson Reserve's cheapest 2-bedroom would yield about what a resale 2-bedroom near here yields, between 2.34% and 3.28%. At $3,300 psf and a $4,000 rent it would yield 2.46%, less than every resale 2-bedroom in the table except AMO Residence's. The main difference is when the rent starts. A resale buyer collects rent from the start; Thomson Reserve's buyer collects none for 4 years and 4 months, about $208,000 of rent at $4,000 a month.

Thomson Reserve at different prices and rents

No one knows what a Thomson Reserve 2-bedroom will rent for in 2031, or what the average price will be. Three rents from the condos near here set a range: $3,819, the median at Thomson Three, the lowest median of the four comparison condos; $4,000, the four comparison condos' median; and $4,500, the median at Jadescape, the newest of the four comparison condos.

Price per sq ft	Price, 592 sq ft	At $3,819	At $4,000	At $4,500
$2,608, starting price	$1.544M	2.97%	3.11%	3.50%
$2,700	$1.60M	2.87%	3.00%	3.38%
$2,800	$1.66M	2.76%	2.90%	3.26%
$2,900	$1.72M	2.67%	2.80%	3.15%
$3,000	$1.78M	2.58%	2.70%	3.04%
$3,100	$1.84M	2.50%	2.62%	2.94%
$3,200	$1.89M	2.42%	2.53%	2.85%
$3,300	$1.95M	2.35%	2.46%	2.76%

Being new or being near the MRT has not, on its own, put a condo's rent at the top of that range here. At 4 of 8 earlier launches nearby, a new condo's 2-bedrooms rented for less than other condos nearby in their first year (Rent at handover). Thomson Three is 230 m from the same Upper Thomson MRT exit as Thomson Reserve, and its 2-bedroom median is the lowest of the four comparison condos. Jadescape's higher rent today may come from its age, its facilities or its larger homes; rent figures alone cannot separate these.

How earlier launch buyers' yields turned out

A buyer at Thomson Reserve is a launch buyer. These are the 2-bedroom launch buyers at earlier launches near here: what they paid, and the yield on that price when their condo was completed and today.

Launch	Launch buyers paid	First year after completion	Today
The Gardens at Bishan2000	$0.59M	–	$3,900 a month7.99%
Centro Residences2009	$0.95M	$3,500 a month4.42%	$4,200 a month5.30%
Thomson Grand2011	$1.36M	$2,550 a month2.25%	$4,080 a month3.60%
Sky Habitat2012	$1.42M	$3,475 a month2.94%	$4,700 a month3.98%
Thomson Three2013	$1.01M	$2,200 a month2.62%	$3,819 a month4.54%
Sky Vue2013	$1.05M	$2,800 a month3.20%	$4,200 a month4.80%
Thomson Impressions2015	$1.07M	$2,475 a month2.79%	$3,900 a month4.39%
Jadescape2018	$1.25M	$4,700 a month4.50%	$4,500 a month4.30%
AMO Residence2022	$1.51M	$3,600 a month2.87%	$3,600 a month2.87%

On what they paid, launch buyers' 2-bedrooms yielded 2.25% to 4.50% in the first year after completion. The two highest were Centro Residences and Jadescape. Between Jadescape's launch year and the year it was completed, the median 2-bedroom rent near here rose from $2,690 to $3,450. At every launch except the two most recently completed, Jadescape and AMO Residence, the yield on what buyers paid is higher today, because rents have risen since. A Thomson Reserve buyer's yield will depend on the rent from 2031, which is not known today.

Rent at handover

A launch's median 2-bedroom rent in its first year after handover, against 2-bedrooms at every other condo within 2.5 km of Thomson Reserve in the same months.

Launch	First-year rent	Against other condos
Centro Residences2014	$3,500	+7.7%
Sky Habitat2015	$3,475	+15.8%
Thomson Grand2015	$2,550	−15.0%
Thomson Three2016	$2,200	−21.4%
Sky Vue2016	$2,800	+12.0%
Thomson Impressions2018	$2,475	−8.3%
Jadescape2022	$4,700	+11.9%
AMO Residence2026	$3,600	−12.2%

In their first year, a new condo's 2-bedrooms rented above the other condos nearby at 4 of 8 launches and below them at 4. Jadescape's 2-bedroom rent fell from $4,700 in its first year to $4,400 in its second, while 2-bedrooms at the other three comparison condos held at $4,000.

Supply and demand

Every private condo within 2.5 km of Thomson Reserve: the 2-bedroom homes completed each year, the 2-bedroom leases signed, and the median 2-bedroom rent against all of Singapore.

• 2-bedrooms completed
• 2-bedroom leases signed

As more 2-bedrooms were completed nearby, more 2-bedroom leases were signed. From 2014 to 2017, 1,169 homes with 2 bedrooms were completed within 2.5 km, and 2-bedroom leases signed rose from 211 a year to 536.

• Within 2.5 km of Thomson Reserve
• All of Singapore

Rent near here moved with rent across Singapore, not with the number of homes added nearby. While those homes were completed, from 2014 to 2017, the median 2-bedroom rent near here fell 21%, from $3,400 to $2,700; across Singapore it fell 20%. When rents rose from 2021 to 2023, the median 2-bedroom rent rose 48% near here and 47% across Singapore, even though Jadescape's 403 homes with 2 bedrooms were completed in 2022, in the middle of that rise. Over 5-year spans since 2012, 1 in 10 spans saw 2-bedroom rent near here fall 4.76% a year or more, the typical span saw it rise 3.71% a year, and 1 in 10 saw it rise 10.27% a year or more. About a third of spans saw rent fall.

More on this: what a 2 bedroom condo rents for and yields across Singapore

What the numbers cannot weigh

What a tenant pays for depends on the unit: its floor, view, furnishing and how it is kept. Rents here are medians across all of those. Comparing condos within 2.5 km of each other holds the wider location roughly fixed, so this note cannot say what this area is worth against another. A new condo's rent above or below its neighbours mixes several things: being new, its facilities, its unit sizes, the walk to the MRT and the project's own appeal. Rent figures alone cannot separate them.

What this tells you

At its starting price, Thomson Reserve's cheapest 2-bedroom would yield about what a resale 2-bedroom nearby yields today, around 3% before costs, but only from 2031, after about 4 years without rent. At the four comparison condos, 21 new leases a year were signed for every 100 of their 2-bedrooms. 2-bedroom rent here has followed the whole Singapore market rather than new supply nearby. Earlier launch buyers' yields rose after handover because rents near here rose, in step with rents across Singapore.

More on this: what a 2-bedroom here could make after costs, living in it or renting it out

What this does not tell you

• The rent for a particular unit. Floor, facing, furnishing and condition change it.
• Your net rent. Costs, property tax among them, are not deducted here.
• The rents in 2031. Every rent here is from past leases. None of it is a forecast.

Method and data notes

Rents. URA's records of private leases held by Realila, lease months to August 2026. A lease's bedroom count is URA's; leases without one are left out.

Close to its size. A lease whose recorded floor-area band overlaps 592 sq ft give or take 10%.

Homes. 2-bedroom homes at each condo from the developers' unit records; completed by URA's completion year.

Yields. Launch prices: the median 2-bedroom new sale in each launch's first year with at least 20 new sales. Handover: the month of each condo's first recorded lease, which falls in URA's completion year at 10 of 11 launches. Resale prices: the median 2-bedroom sub-sale or resale in the past year.

Places. Within 2.5 km means a condo's point within 2.5 km of Thomson Reserve's, in a straight line.

Corrections

21 October 2026. This note said a new condo's 2-bedrooms rented "above older homes nearby at 4 of 8 launches, below at 4". The comparison was with 2-bedrooms at every other condo nearby, some of them as new. It now says they "rented for more than 2-bedrooms at the other condos nearby at 4 of 8 launches, and for less at 4".

21 October 2026. This note said "When 1,169 homes with 2 bedrooms were completed nearby from 2014 to 2017, they found tenants, and rents fell in line with the rest of Singapore, no faster." The data counts leases across the area, not at those homes, and rents near here fell slightly faster. It now says "2-bedroom leases signed nearby rose from 211 to 536 a year, and the median 2-bedroom rent fell 21% near here against 20% across Singapore."