Project Overview

Ikigai is a boutique freehold residential development by Opulent Development Pte. Ltd., located at 38 Shrewsbury Road (Singapore 307818) in District 11 (Newton / Novena).

• Number of units: 16 units only — a very low-density boutique project.

• Structure: One block, 5 storeys.

• Design inspiration: The name “Ikigai” is derived from the Japanese concept meaning “reason for being”; the architecture and finishes reflect wabi-sabi + Scandinavian hygge influences.

Location & Connectivity

• MRT Connectivity: Novena MRT Station (NS20) is about ~6-7 mins’ walk.

• Road / Expressway: Close to Central Expressway (CTE) and access to Pan Island Expressway (PIE) etc

• Neighbourhood amenities: The Novena / Newton area is a matured central-region estate with shopping malls (Velocity@Novena, United Square), dining, medical hub (Tan Tock Seng Hospital / Novena Health City) etc.

• Appeal: Being in the Core Central Region (CCR) with freehold tenure and boutique size, it offers prime address value.

Product & Features

• Boutique size: Only 16 units over 5 storeys — delivering exclusivity and privacy.

• Unit mix & sizes:

  • 1-Bedroom ~603 sq ft / 56 sqm & 635 sq ft.

  • 2-Bedroom ~969–1,087 sq ft.

  • 3-Bedroom (Penthouse) ~1,496 sq ft / ~1,915 sq ft.

• Facilities: Swimming pool, kids’ pool, gymnasium, garden pavilion — commendable for such a small project.

• Design Quality: Architect ipli Architects; premium finishes; design influenced by Japanese minimalism + Scandinavian comfort.

• Neighbourhood context: Low-rise environment, near landed houses, giving an elevated living environment in a central location.

Investment & Appeal

• Freehold tenure in the CCR is rare and highly prized — supports long-term capital value.

• Boutique scale (16 units) means low supply; helps exclusivity and future resale value.

• Strong rental demand possibility given central location, job hubs, medical hub at Novena — attractive to professionals and expatriates.

• Positioned at a relatively more affordable psf compared to many other CCR launches (as reviews note) which may provide value.

• Good for own-stay and also investment, but more skewed toward owner-occupiers given unit sizes and freehold nature .

Price & Unit Summary

• Sale price range (recent listings): approx S$1.45 million to S$4.38 million.

• PSF range: ~ S$2,105 – S$2,404 psf for available listings.

• Example listings:

  • 3-bedroom 1,915 sq ft listed at S$4,152,000 (~S$2,168 psf)

• Review commentary: Reviewer mentions PSF ~ S$2,198–S$2,241 for launch.

• Key point: Entry at 1-bedroom likely in the lower millions; larger 3-bed/penthouse in multi-million range.

Schools

Nearby good schools add appeal for families:

• St Joseph’s Institution Junior (SJI Junior) — ~3 minutes away.

• Anglo-Chinese School (Junior/Primary) within ~2 km radius.

• CHIJ Primary Toa Payoh, Singapore Chinese Girls’ School, School of the Arts (SOTA) are also accessible.

• International schools and tertiary institutions: Many in the central region are a short drive (Chatsworth International, etc).
  This school proximity makes it viable for families, though the unit size entry point and premium nature may make it more suitable for upgraders.

Key Takeaways for Investors / Buyers

• Rare freehold boutique development in a prime central district — strong hold value.

• Low unit count (16) means higher exclusivity, less supply competition.

• Good location + connectivity — close to Novena MRT, major roads, shopping, medical hub.

• Strong candidate for owner-occupiers who seek central living with elevated privacy and premium finishes.

• Investment viability: Good potential for capital appreciation; rental yield moderate given price and size — better suited for long-term hold rather than short-term flip.

• For families: Excellent school access; premium environment; better suited for upgraders or established households.