IndustrialRESIDENTIALFreeholdDistrict 23 · Bukit Batok

Hillview Building

Reviewed by Nathan TangUpdated 8 November 2026Data through Feb 2025

Quick Summary

Hillview Building is a industrial building in District 23 · Bukit Batok, on land zoned RESIDENTIAL under the URA Master Plan with a gross plot ratio of 1.62. It is freehold. 39 transactions are on record since 1995, at a median S$540 psf, most recently in Feb 2025. ACRA records 104 live company registrations at this address.

The facts are here — now get the verdict on Hillview Building.

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What are the key facts about Hillview Building?

Key takeawayHillview Building is a industrial building in District 23 · Bukit Batok, zoned RESIDENTIAL, held freehold.

Asset class: Industrial
Land-use zone: RESIDENTIAL
Gross plot ratio: 1.62
Tenure: Freehold
District / Area: District 23 · Bukit Batok
Address: 48 Hillview Terrace
Land area: 3,669 sqm
Completed: Not on record
Storeys: 7 (© OpenStreetMap contributors)
Strata lots (whole development, MCST): 54
Strata formed: 1983 (MCST 0724)
Units with a recorded sale: At least 28
Transactions on record: 39 (records start 1995)
Live listings: None
ACRA registrations: 104

About Hillview Building

Hillview Building is a mixed-use building in Bukit Batok (District 23). It is located along Hillview Terrace, Singapore 669269.

Under the URA Master Plan the site is zoned Residential with a gross plot ratio of 1.62.

The site is freehold. It sits on about 3,669 sqm of land with roughly 5,944 sqm of gross floor area.

39 transactions have been recorded here, at a median of S$540 psf. The most recent was in February 2025.

Across JTC's rental returns for Hillview Terrace, the median rent for industrial space on this street works out to about S$1.33 psf per month over 95 observations. Observed medians on the street span S$0.46 to S$2.67 psf per month. These are street-level figures from undated JTC snapshots, not a rent quoted for this property.

The nearest port or airport land is about 5.9 km away. The closest business-park zone is about 2.6 km away. The nearest MRT is Bukit Gombak MRT, 906 m away (about a 14-minute walk). The closest bus stop (Opp Blk 258) is 200 m away (about a 3-minute walk).

128 businesses are currently registered at this address with ACRA.

What is Hillview Building zoned as?

Key takeawayHillview Building sits on land zoned RESIDENTIAL with a gross plot ratio of 1.62.

Land-use zone: RESIDENTIAL
Gross plot ratio: 1.62

Run the full zoning report for this building →

What has Hillview Building sold for?

Key takeawayAcross 39 recorded transactions since 1995, the median price is about S$960k, most recently in Feb 2025.

Date	Use	Price	Area	PSF
Feb 2025	Multiple-user Factory	S$1.45M	2,034 sqft	$712
Jun 2024	Multiple-user Factory	S$1.13M	1,464 sqft	$772
May 2024	Multiple-user Factory	S$1.10M	1,464 sqft	$751
Feb 2024	Multiple-user Factory	S$1.42M	2,034 sqft	$700
Feb 2024	Multiple-user Factory	S$975k	1,464 sqft	$666
Aug 2022	Multiple-user Factory	S$1.04M	1,475 sqft	$705
Dec 2021	Multiple-user Factory	S$800k	1,464 sqft	$546
Sept 2021	Multiple-user Factory	S$1.62M	2,486 sqft	$652
Mar 2021	Multiple-user Factory	S$1.20M	2,034 sqft	$588
Feb 2021	Multiple-user Factory	S$1.00M	2,034 sqft	$492

URA/JTC records from 1995 — that is where the record starts, not when the building was built. Strata and land deals can mix in one building's history; compare like with like. sqm ↔ sq ft converter

What does space at Hillview Building rent for?

Key takeawayJTC publishes leases at Hillview Building itself: strata factory space leased at a median of $2.00 psf a month in 2026Q3, with the middle half of leases between $1.79 and $2.30. That is the building's figure across its leases, and never a quote for a particular unit.

Strata factory space in this building

This building · 2026Q3

25th pct

$1.79

$19.32 psm

Median

$2.00

$21.53 psm

75th pct

$2.30

$24.76 psm

S$ per sq ft per month · median +16.7% on a year earlier

2022Q4 · $14.71 psm2026Q3 · $21.53 psm median

JTC's percentiles of the gross rent declared to IRAS for strata factory units leased in THIS building in the stated quarter (J-SPACE). It is the building's figure across its leases, not any one unit's rent; a unit's floor, size and fit-out move it. '*' quarters (too few leases) are absent, not zero.

Source: JTC J-SPACE, rentals of strata-titled multiple-user factories.

Strata factory space on Hillview Terrace

Street level · 2026Q3

25th pct

—

— psm

Median

$2.00

$21.53 psm

75th pct

—

— psm

S$ per sq ft per month (median only published) · median +16.3% on a year earlier

2023Q3 · $16.15 psm2026Q3 · $21.53 psm median

This is the MEDIAN of JTC-published rents across leases on this street in the stated quarter, not the asking or contracted rent of any particular unit. Streets with too few leases are suppressed by JTC and appear as no value -- suppressed is not zero.

Source: JTC J-SPACE, rental of industrial space by street.

Market context around Hillview Building

Key takeawayBrokers' industrial figures for Singapore as a whole — a broker's market figure, not this building's rent.

CBRE, 2Q 2026 (island-wide)

Factory (ground floor): Rent S$1.81 psf/mth
Factory (upper floor): Rent S$1.41 psf/mth
Prime logistics: Rent S$1.87 psf/mth · Capital value S$245 psf · Net yield 6.5%
Warehouse (ground floor): Rent S$1.91 psf/mth
Warehouse (upper floor): Rent S$1.39 psf/mth

Singapore Figures Q2 2026

Cushman & Wakefield, 2Q 2026 (island-wide)

Factory - Ground Floor: Rent S$1.79 psf/mth
Factory - Upper Floor: Rent S$1.57 psf/mth
High-Tech: Rent S$3.56 psf/mth
Prime Logistics - Ground Floor: Rent S$1.92 psf/mth
Prime Logistics - Upper Floor: Rent S$1.74 psf/mth
Warehouse - Ground Floor: Rent S$1.81 psf/mth
Warehouse - Upper Floor: Rent S$1.49 psf/mth

Singapore Industrial MarketBeat Q2 2026

Official series (JTC, 2026Q3): Multiple-User Factory occupancy (island-wide) 90.3% (-0.7 pp on the year) · Single-User Factory occupancy (island-wide) 89.1% (0 pp on the year) · Warehouse occupancy (island-wide) 89.7% (+0.1 pp on the year).

Brokers draw submarkets and grades differently; each figure is the broker's own, for its own area, cited to its report. Rents are per square foot per month.

How does Hillview Terrace price?

Key takeawayHillview Terrace's current JTC street rent is S$21.53 psm/month (2026Q3), which against the street's strata sale median works out to an indicative gross yield of 3.4% (3.1% net of property tax).

Strata sales on the street (5y)

Street median PSF (strata)

$703

Indicative street yield

3.4% gross

3.1% net of property tax

An INDICATIVE street-level yield, not a yield for any particular unit: the current-quarter JTC street rent divided by the street's strata sale PSF median.

Net deducts the 10% non-residential property tax ONLY — not vacancy, maintenance, agent fees, financing, or the 9% GST on purchase.

Street figures cover strata deals only — land and strata PSF are not comparable.

What is near Hillview Building?

Key takeawayThe nearest MRT/LRT is Bukit Gombak MRT, about 906 m away.

Getting around

Bukit Gombak MRT906 m · ~14 min

Amenities nearby

Opp Blk 258 · 200 mEducational Institution · 326 mOng Clinic & Surgery · 412 mBukit Gombak MRT Exit B · 889 m

Straight-line distances. Source: PropKaki amenities data.

Getting there and parking at Hillview Building

Key takeawayThe nearest station is Bukit Gombak (NS3), 889 m away — a busy station, with about 42,000 taps in and out on an average weekday. 6 public car parks are within 500 m; the cheapest URA season parking nearby is S$90 a month.

Foot traffic: busier than 14% of retail buildings

nearest MRT/LRT Bukit Gombak (NS3) 889 m, about 42,000 taps a weekday; 1 more station within 1 km; bus stops within 400 m: 8, about 9,708 taps a weekday; Bukit Batok: 33,792 resident workers (Census 2020, by workplace); about 50,000 residents within 1 km (June 2026); 0 other malls within 1 km. Ranked against 12,856 retail buildings by PropKaki's model: a relative score, not a footfall count.

A relative score from PropKaki's model (station and bus taps nearby, workers and residents around, and competing malls), not a count of people.

Stations within 1 km

Bukit Gombak (NS3)889 m · about 42,000 weekday taps
Bukit Batok (NS2)943 m · about 63,000 weekday taps

Taps are fare-card taps in and out at the station's gates on an average weekday (Jul 2026 to Sep 2026) — people passing through, not visitors to Hillview Building. Transfers between lines don't tap, so interchanges read low.

Bus

8 bus stops within 400 m, with 9,708 boardings and alightings on an average weekday.

Public car parks within 500 m

Hillview Terrace (URA)50 m
S$0.60 per half-hour at midday on a weekday · season S$90/month · 10 car lots
Blk 254/265 Bukit Batok East Avenue 4 (HDB)242 m
S$0.60 per half-hour at midday on a weekday · gantry 4.5 m · 312 car lots
Blk 242/253 Bukit Batok East Avenue 2/5 (HDB)340 m
S$0.60 per half-hour at midday on a weekday · gantry 5.4 m · 427 car lots
241A Bukit Batok East Avenue 5 (HDB)370 m
S$0.60 per half-hour at midday on a weekday · gantry 2.15 m · 235 car lots
Blk 238/241 Bukit Batok East Avenue 5 (HDB)411 m
S$0.60 per half-hour at midday on a weekday · gantry 5.4 m

HDB season (car): Tier 1 $80/month (a resident's or registered HDB shop/industrial tenant's first car); Tier 2 (other cars, non-residents) $90 Rest of Island, $150 Designated Area, $165 Restricted Zone (surface). Which zone this car park is in is not published as data.

Public car parks only, by straight-line distance, with the operator's published rates. Hillview Building's own car park, if it has one, and its charges are not in the open data.

Who's registered at Hillview Building?

Key takeaway104 live companies (and LLPs and branches; sole proprietors are not counted) list Hillview Building as their registered address. These are registered businesses, not who occupies the space.

Wholesale and retail trade
32
Construction
18
Professional, scientific and technical services
18
Manufacturing
15
Administrative and support services
5
Information and communications
5
Accommodation and food services
3
Financial and insurance
2
Education
2
Transportation and storage
1

Registered businesses, not who occupies the space: companies, LLPs and branches whose REGISTERED address is this building (ACRA), by industry. Sole proprietors are not counted; no business is named. ACRA, as of 2026-09-16.

What does industrial space rent for on this street?

Key takeawayJTC's street-level record shows a median of S$14.32 psm/month — an all-time median from 2000 onwards, not a current rent.

Street rent, median: S$14.32 psm/mo
Observed range: S$4.90 – S$28.69

JTC street medians span 2000 to today and are an all-time level, not today's asking rent; the forward pipeline is a forecast, not committed completions.

Frequently asked questions about Hillview Building

Where is Hillview Building?⌄

Hillview Building is at 48 Hillview Terrace, Singapore 669269, in the Bukit Batok planning area.

What is Hillview Building zoned as?⌄

Hillview Building is zoned Residential under the URA Master Plan, with a gross plot ratio of 1.62.

What is the tenure of Hillview Building?⌄

Hillview Building is freehold.

What have units at Hillview Building sold for?⌄

Across 39 recorded transactions, the median is S$540 psf. The latest was in February 2025.

What does industrial space near Hillview Building rent for?⌄

JTC's rental returns for Hillview Terrace put the median at about S$1.33 psf per month. That is a street-level figure from undated snapshots covering all industrial space on Hillview Terrace, not a rent quoted for Hillview Building itself.

What is the nearest MRT station to Hillview Building?⌄

Bukit Gombak MRT is the closest, 906 m away (about a 14-minute walk).

How many businesses are registered at Hillview Building?⌄

128 businesses are currently registered at this address with ACRA. That counts registered addresses, not physical occupiers.

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Read the figures right

Year of completion is not on record for this building. Building age cannot be stated.

Strata lots: the lot count in the development's MCST (BCA's register) — the whole development, homes included where it is mixed; a single-owner mall or tower can be one lot.

Strata formed: the year the MCST was set up (BCA's register). NOT the year the building was completed — an MCST forms after TOP, sometimes years later. Never state it as the building's age.

Station taps: average weekday fare-card taps in and out at the nearest MRT/LRT station (LTA DataMall). People passing the station's gates, not people visiting this building.

Season parking: the cheapest URA car season rate (commercial ticket) at a public car park within 500 m, per month. HDB's season rates depend on a zone we don't have, so they are shown as HDB's tiers.

Foot-traffic score: PropKaki's relative score from nearby MRT and bus taps, workers and residents around (and, for retail, competing malls), ranked against buildings of the same kind. A percentile, not a count of people.

Company REGISTRATIONS at this address (ACRA), not a tenancy schedule. Registration does not mean the company physically occupies space here, and a low count does not mean the building is empty. Do not describe this as occupancy or vacancy.

Unbuilt GFA cannot be computed here — it needs BCA built-GFA, which covers about 5% of commercial buildings and no industrial ones. Zoning and plot ratio are on record; headroom is not.

Median across 2000Q1-2026Q2 — an all-time level, NOT a current rent. Quote the latest quarter for "what does it rent for now".

Storeys: from OpenStreetMap (© OpenStreetMap contributors), volunteer-mapped, not an official record. Shown only because no official or listed floor count is held for this building.

Reviewed by Nathan Tang

Nathan Tang has over 10 years of property experience across condominiums, HDB flats and commercial property, specialising in property research and finance.

Figures draw on URA and JTC records, URA Master Plan zoning, ACRA registrations and live commercial-portal listings; building facts from BCA's MCST register, URA car park data (URA Data Service), LTA DataMall passenger volumes, PropKaki's foot-traffic model, OpenStreetMap (© OpenStreetMap contributors) — see our methodology. Last updated 8 November 2026. For general information, not financial advice.

Getting there and parking: LTA DataMall passenger volumes and car parks, URA Data Service car park rates, HDB and JTC car park information (data.gov.sg) and HDB's published parking charges, Census of Population 2020 and the Singapore Department of Statistics' June 2026 resident population (Singapore Open Data Licence). The foot-traffic score is PropKaki's own relative model, not a count.

Market context: figures cited from CBRE Research (Singapore Figures) and Cushman & Wakefield (Singapore MarketBeat), each with its quarter and report; flexible-workspace centres from the operators' public location lists; collective sales from marketing agents' announcements and news reports, each linked.

Rents: URA rental statistics for office and retail space by street (IRAS-stamped contracts), JTC J-SPACE rentals by building and by street, JTC price tenders, and URA REALIS rental grids. SLA tender results and JTC posted land rents are held for state and JTC land.