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|February 19,2025Condo In Sengkang Booked Gains Of More Than $667,000 On Average In January
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Quieter resale condo activity in January
The resale market momentum stalled in January, with 665 condo units worth $1.27 billion being resold during the month compared with the previous month, which saw 950 resale transactions valued at nearly $1.83 billion being done. Going by districts, district 10 (Tanglin, Holland, Bukit Timah) resale homes raked in the highest profits, with transactions reaping average gains of about $980,000 per deal. In terms of annualised gains, resale homes in district 20 (Ang Mo Kio, Bishan) enjoyed 5% annualized profit per deal.
Top 10 Resale Condo districts^ in terms of average gross profit*
District | No. of transactions** | Average Gains ($) | Average Annualised Gains (%)# |
D10 | 38 | $981,414 | 2.7% |
D21 | 20 | $901,207 | 4.2% |
D15 | 52 | $837,488 | 4.8% |
D12 | 12 | $831,559 | 3.7% |
D16 | 23 | $719,938 | 4.4% |
D11 | 16 | $709,569 | 2.5% |
D20 | 33 | $674,077 | 5.0% |
D23 | 32 | $483,596 | 4.6% |
D3 | 25 | $451,871 | 3.3% |
D27 | 20 | $441,089 | 3.9% |
A suburban condo project in Sengkang, District 28 - High Park Residences - pulled in average resale gains of more than $667,000 across five resale transactions in January. The top 10 most profitable projects in the month of January were varied, with developments mostly located in the suburbs, based on URA Realis caveat data analysed by PropNex Research. In January, the top 10 most profitable projects had average profits ranging from $276,000 to $667,000. By a ranking of the average profit, seven projects are in the Outside Central Region (OCR), three out of the top 10 projects are in the Rest of Central Region (RCR), there were no projects in the Core Central Region (CCR) which made the top 10 rankings.
First, some details about the methodology which entails a comparison of sales caveats. The gains garnered for the units were derived by matching the condo resale transactions in January with their previous purchase prices according to caveats lodged. The average profit was subsequently computed on a project basis. To minimise sampling errors, resale condominium projects that posted fewer than five transactions during the month are excluded from the study.
Top 10 Resale Condo projects^ in terms of average gross profit*
Project Name | No. of transactions | Average Gains ($) | Average Annualised Gains (%)# | Year completed | Region |
| HIGH PARK RESIDENCES | 5 | $667,800 | 6.1% | 2019 | OCR |
| THE MINTON | 6 | $643,833 | 6.0% | 2013 | OCR |
| A TREASURE TROVE | 5 | $592,800 | 5.6% | 2015 | OCR |
| JADESCAPE | 11 | $480,241 | 5.9% | 2022 | RCR |
| PARC ESTA | 13 | $436,530 | 5.7% | 2022 | RCR |
| LAKEVILLE | 5 | $334,657 | 2.5% | 2017 | OCR |
| RIVERSAILS | 8 | $321,511 | 4.6% | 2016 | OCR |
| THE ALPS RESIDENCES | 5 | $319,324 | 4.7% | 2019 | OCR |
| SIMS URBAN OASIS | 6 | $294,864 | 3.7% | 2017 | RCR |
| PARC RIVIERA | 7 | $276,597 | 3.6% | 2019 | OCR |
Most of the projects that made the top 10 list are developments that have desirable locational or physical attributes, such as being near a waterbody (Lakeville, Riversails), close to an MRT station (A Treasure Trove, Parc Esta), or are recently completed developments (Parc Esta, Jadescape).
Details
Location: Fernvale Road
Postal District: 28
Tenure: 99-year leasehold
Nearest MRT: Thanggam LRT (50 metres)
Year of Completion: 2019
Summary
High Park Residences, a mega condominium project that was completed in 2019, is located in the tranquil residential estate in Fernvale, a fairly new neighbourhood of Sengkang New Town within District 28. The residential development consists of six 25-storey towers, with 1,390 units. The project has a wide range of unit sizes and types, ranging from studio units to bungalows, and semi-detached houses. The sprawling mega project also features nearly 120 facilities, including retail units, eateries, a childcare centre, an infinity pool, outdoor movie theatre, gymnasium, cycling track, amongst others. Additionally, it is in close proximity to the Seletar Aerospace Park, as well as the upcoming Sengkang West Industrial and Ang Mo Kio Industrial Parks. The project is next to the Thanggam LRT station, which is a few stops from the Sengkang MRT interchange station.
HIGH PARK RESIDENCES Transactions in January 2025
Floor/Unit | Resale Price ($) | Area (SQFT) | Unit Price ($ PSF) | Gains from previous caveat ($) | Purchase date | Annualized Gains (%) |
#13-XX | 1,950,000 | 1,152 | 1,693 | 380,000 | Dec-21 | 7.5% |
#07-XX | 1,990,000 | 1,227 | 1,622 | 882,000 | Jul-15 | 6.4% |
#23-XX | 2,500,000 | 1,485 | 1,683 | 1,134,000 | Jul-15 | 6.6% |
#13-XX | 1,500,000 | 947 | 1,584 | 536,000 | Jul-15 | 4.8% |
#06-XX | 1,090,000 | 667 | 1,633 | 407,000 | Jul-15 | 5.1% |
Details
Location: Hougang Street 11
Postal District: 19
Tenure: 99-year leasehold
Nearest MRT: Serangoon (800 metres)
Year of Completion: 2013
Summary
The Minton is a leasehold condominium project in Hougang Street 11 in District 19. It is a newly developed mega condominium project - completed in 2013 with a total of 1,145 units. The project is conveniently located in the heart of Serangoon and Lorong Ah Soo, and it is a 15-minute walk from the Serangoon MRT station - an interchange between the North-East Line (NEL) and the Circle Line (CCL). Residents will not need to venture far to fulfil their daily needs, with NEX, the largest mall in the north east, just a short stroll from the project.
THE MINTON Transactions in January 2025
Floor/Unit | Resale Price ($) | Area (SQFT) | Unit Price ($ PSF) | Gains from previous caveat ($) | Purchase date | Annualised Gains (%) |
#11-XX | 1,500,000 | 980 | 1,531 | 420,000 | Feb-21 | 8.7% |
#14-XX | 2,100,000 | 1,216 | 1,727 | 700,000 | Nov-15 | 4.6% |
#13-XX | 2,080,000 | 1,216 | 1,710 | 940,000 | Jan-11 | 4.4% |
#09-XX | 1,528,000 | 980 | 1,560 | 328,000 | Jan-22 | 8.4% |
#11-XX | 2,300,000 | 1,324 | 1,737 | 1,087,000 | Dec-11 | 5.0% |
#03-XX | 1,318,000 | 980 | 1,346 | 388,000 | Nov-17 | 5.0% |
Details
Location: Punggol Walk
Postal District: 19
Tenure: 99-year leasehold
Nearest MRT: Punggol (260 metres)
Year of Completion: 2015
Summary
A Treasure Trove is a residential development nestled in the heart of Punggol town. It consists 882 units spread across 12 blocks. A Treasure Trove has a wide range of units ranging from 2-bedroom units up to the spacious 7-bedroom units. In addition, residents have access to a wide range of facilities on-site such as barbeque area, fitness corner, gymnasium room, lap pool, sauna, tennis courts, clubhouse. A Treasure Trove is located directly opposite Punggol MRT Station on the North-East Line, as well as Punggol Waterway Point, which provides numerous retail and dining options including a cineplex.
A TREASURE TROVE Transactions in January 2025
Floor/Unit | Resale Price ($) | Area (SQFT) | Unit Price ($ PSF) | Gains from previous caveat ($) | Purchase date | Annualised Gains (%) |
#13-XX | 1,273,000 | 775 | 1,643 | 335,000 | Aug-21 | 9.6% |
#05-XX | 1,260,000 | 775 | 1,626 | 400,000 | Mar-18 | 5.8% |
#14-XX | 1,868,000 | 1,206 | 1,549 | 774,000 | Oct-11 | 4.1% |
#03-XX | 1,668,000 | 1,044 | 1,598 | 729,000 | Sep-11 | 4.4% |
#06-XX | 1,748,000 | 1,130 | 1,547 | 726,000 | Oct-11 | 4.1% |
Details
Location: Shunfu Road
Postal District: 20
Tenure: 99-year leasehold
Nearest MRT: Marymount (250 metres)
Year of Completion: 2022
Summary
Jadescape, a mega condominium project completed in 2022 is located in Bishan, within District 20. This mega residential development consists of five 23-storey towers and two 21-storey towers, with 1,206 units in total. The project has a wide range of unit sizes and types, ranging from 1-bedroom units to 5-bedroom apartments. Families with school-going children will be attracted to the project as it is situated near a number of schools, including Raffles Institution, Raffles Girls' School, and Whitley Secondary School. The project is also located close to a number of amenities, including the Bishan MRT station and bus interchange, Junction 8 mall, MacRitchie Reservoir and more. The project is less than 5 minutes' walk from Marymount MRT station on the Circle Line and the Upper Thomson MRT station, on the newly-opened Thomson-East-Coast Line (TEL).
JADESCAPE Transactions in January 2025
Floor/Unit | Resale Price ($) | Area (SQFT) | Unit Price ($ PSF) | Gains from previous caveat ($) | Purchase date | Annualized Gains (%) |
#21-XX | 1,105,000 | 527 | 2,095 | 139,000 | Jun-20 | 3.0% |
#20-XX | 1,828,000 | 775 | 2,359 | 509,000 | Sep-18 | 5.4% |
#18-XX | 1,800,000 | 775 | 2,323 | 463,700 | Aug-19 | 5.7% |
#10-XX | 3,080,000 | 1,259 | 2,446 | 891,300 | Feb-21 | 9.3% |
#03-XX | 1,640,055 | 764 | 2,146 | 393,055 | Sep-18 | 4.5% |
#15-XX | 1,690,000 | 764 | 2,211 | 372,000 | Jun-20 | 5.7% |
#04-XX | 2,735,000 | 1,259 | 2,172 | 650,000 | Dec-20 | 6.9% |
#23-XX | 1,735,000 | 764 | 2,270 | 360,000 | Jun-20 | 5.3% |
#03-XX | 2,660,000 | 1,141 | 2,331 | 788,000 | Jun-20 | 8.1% |
#09-XX | 1,680,000 | 764 | 2,198 | 376,300 | Feb-20 | 5.3% |
#13-XX | 1,700,000 | 764 | 2,224 | 340,300 | Jul-20 | 5.2% |
Details
Location: Sims Avenue
Postal District: 14
Tenure: 99-year leasehold
Nearest MRT: Eunos (150 metres)
Year of Completion: 2022
Summary
Located in the city fringe in District 14, Parc Esta is a recently completed mega development. It has 1,399 residential units, offering purchasers a wide choice of formats, from 1-bedroom units to 5-bedroom units. Parc Esta has several retail shops and other communal amenities onsite. The development is also a short walk away from the amenities at Geylang Serai Market and the Paya Lebar regional centre. The project is located across from the Eunos MRT Station on the East-West Line - just several MRT stops from Raffles Place and City Hall. For residents who drive, the Pan-Island Expressway (PIE) is nearby, giving commuters quick access to other areas of the island via the PIE.
PARC ESTA Transactions in January 2025
Floor/Unit | Resale Price ($) | Area (SQFT) | Unit Price ($ PSF) | Gains from previous caveat ($) | Purchase date | Annualized Gains (%) |
#01-XX | 1,500,000 | 700 | 2,144 | 335,000 | Apr-19 | 4.6% |
#17-XX | 1,690,000 | 743 | 2,275 | 371,000 | Jun-20 | 5.7% |
#10-XX | 995,000 | 452 | 2,201 | 171,000 | Sep-19 | 3.7% |
#01-XX | 2,000,000 | 915 | 2,186 | 507,000 | Mar-20 | 6.2% |
#16-XX | 1,010,000 | 452 | 2,234 | 130,000 | May-20 | 3.1% |
#05-XX | 2,165,000 | 926 | 2,339 | 623,000 | Jun-20 | 7.8% |
#07-XX | 2,400,000 | 1,001 | 2,397 | 810,000 | Nov-19 | 8.3% |
#04-XX | 1,608,000 | 700 | 2,298 | 367,000 | Aug-20 | 6.0% |
#16-XX | 1,708,888 | 743 | 2,301 | 437,888 | Dec-19 | 6.1% |
#16-XX | 1,180,000 | 517 | 2,284 | 205,000 | Oct-19 | 3.8% |
#13-XX | 1,468,000 | 635 | 2,312 | 385,000 | Oct-19 | 6.0% |
#07-XX | 2,225,000 | 926 | 2,404 | 670,000 | Nov-18 | 6.0% |
#03-XX | 2,120,000 | 915 | 2,317 | 663,000 | Dec-18 | 6.4% |
Details
Location: Jurong Lake Link
Postal District: 22
Tenure: 99-year leasehold
Nearest MRT: Lakeside (560 metres)
Year of Completion: 2017
Summary
Lakeville is a residential development located within close proximity to the Jurong Lake District in District 22 where major redevelopment plans are underway to transform the area into an exciting waterfront leisure and commercial destination. Lakeville has 696 residential units, comprising 1-bedroom units to 4- and 5-bedroom penthouses, as well as 4-bedroom dual key units. The project offers panoramic views of Jurong Lake and is just 5 minutes' walk from Lakeside MRT Station on the East West Line, linking commuters to the commercial amenities at Jurong Gateway, such as JEM, Westgate and IMM malls. It also takes commuters directly to the downtown CBD within 30 minutes via the MRT.
LAKEVILLE Transactions in January 2025
Floor/Unit | Resale Price ($) | Area (SQFT) | Unit Price ($ PSF) | Gains from previous caveat ($) | Purchase date | Annualised Gains (%) |
#16-XX | 1,350,000 | 764 | 1,766 | 122,000 | Jan-22 | 3.2% |
#11-XX | 2,080,000 | 1,141 | 1,823 | 718,295 | Feb-16 | 4.9% |
#15-XX | 2,198,888 | 1,163 | 1,891 | 564,888 | Apr-14 | 2.8% |
#13-XX | 2,680,000 | 1,528 | 1,753 | -20,000 | May-24 | -1.1% |
#16-XX | 1,288,000 | 732 | 1,760 | 288,100 | Aug-14 | 2.5% |
Details
Location: Upper Serangoon Crescent
Postal District: 19
Tenure: 99-year leasehold
Nearest MRT: Buangkok (900 metres)
Year of Completion: 2016
Summary
Riversails is a residential development located along Upper Serangoon Crescent in District 19. The development was completed around 2016 and is conveniently located at the edge of Serangoon and Hougang, with plenty of amenities nearby, including shops located within the development. The development is a 15-minute walk from the Buangkok MRT station on the North-East Line (NEL). Residents will not need to venture far to fulfil their daily needs, with amenities at Sengkang Grand Mall, Hougang Mall and Hougang Central just a short walk away.
RIVERSAILS Transactions in January 2025
Floor/Unit | Resale Price ($) | Area (SQFT) | Unit Price ($ PSF) | Gains from previous caveat ($) | Purchase date | Annualised Gains (%) |
#12-XX | 748,000 | 506 | 1,479 | 219,490 | Oct-12 | 2.9% |
#07-XX | 2,000,000 | 1,367 | 1,463 | 450,000 | Oct-21 | 8.4% |
#09-XX | 725,000 | 506 | 1,433 | 225,000 | Feb-17 | 4.9% |
#14-XX | 1,210,000 | 850 | 1,423 | 398,670 | Jun-13 | 3.5% |
#16-XX | 760,000 | 506 | 1,502 | 227,540 | Oct-12 | 3.0% |
#03-XX | 1,930,000 | 1,367 | 1,412 | 380,000 | Aug-21 | 6.6% |
#06-XX | 1,610,000 | 1,066 | 1,511 | 470,000 | Dec-17 | 5.0% |
#11-XX | 722,000 | 506 | 1,427 | 201,390 | Oct-12 | 2.7% |
Details
Location: Tampines Street 86
Postal District: 18
Tenure: 99-year leasehold
Nearest MRT: Tampines (1,400 metres)
Year of Completion: 2019
Summary
The Alps Residences is a residential development in the heart of Queenstown. It comprises 626 units within nine storey blocks and was completed in 2019. Besides an open terrace and jogging track, there are other facilities such as a swimming pool, fitness corner, function room and a gymnasium. The Stirling Residences is about 15 minutes away from the Tampines MRT station, on the Downtown and East West Lines, offering its residents convenience, being located less than 45 minutes' away from the city centre.
THE ALPS RESIDENCES Transactions in January 2025
Floor/Unit | Resale Price ($) | Area (SQFT) | Unit Price ($ PSF) | Gains from previous caveat ($) | Purchase date | Annualised Gains (%) |
#05-XX | 1,430,000 | 936 | 1,527 | 362,000 | Feb-18 | 4.4% |
#03-XX | 765,000 | 506 | 1,512 | 223,000 | Oct-16 | 4.3% |
#12-XX | 1,680,000 | 1,087 | 1,545 | 445,000 | Nov-17 | 4.4% |
#07-XX | 735,000 | 463 | 1,588 | 129,000 | May-21 | 5.5% |
#02-XX | 1,595,000 | 1,087 | 1,467 | 437,620 | Feb-18 | 4.8% |
Details
Location: Sims Drive
Postal District: 14
Tenure: 99-year leasehold
Nearest MRT: Aljunied (420 metres)
Year of Completion: 2017
Summary
Located in the city fringe in District 14, Sims Urban Oasis is a mixed-use development with 1,024 residential units - spanning from 1-bedroom units up to 5-bedroom units. The 2-, 3- and 4-bedders come with the option of a dual key configuration. Sims Urban Oasis has seven shops and a childcare centre, with a wide range of amenities on-site. The development is also a short walk from two hawker centres and the Aljunied MRT station on the East-West line, is just several train stops from Raffles Place and City Hall. The Pan-Island Expressway (PIE) nearby also gives residents quick access to other areas of the Singapore. Sims Urban Oasis is developed by GuocoLand Limited along with its subsidiaries.
SIMS URBAN OASIS Transactions in January 2025
Floor/ Unit | Resale Price ($) | Area (SQFT) | Unit Price ($ PSF) | Gains from previous caveat ($) | Purchase date | Annualized Gains (%) |
#18-XX | 1,800,000 | 1,130 | 1,593 | 268,700 | Oct-17 | 2.3% |
#06-XX | 800,000 | 409 | 1,956 | 140,000 | Apr-21 | 5.3% |
#04-XX | 860,000 | 463 | 1,858 | 180,000 | Apr-15 | 2.5% |
#18-XX | 1,920,000 | 1,184 | 1,622 | 382,900 | Oct-17 | 3.2% |
#03-XX | 1,788,000 | 958 | 1,866 | 300,000 | Jul-21 | 5.4% |
#07-XX | 1,820,000 | 958 | 1,900 | 497,586 | Oct-15 | 3.5% |
Details
Location: West Coast Vale
Postal District: 5
Tenure: 99-year leasehold
Nearest MRT: Clementi (650 metres)
Year of Completion: 2019
Summary
Tucked directly at the edge of Clementi town is Parc Riviera condominium - with 752 residential units across two 36-storey elevated towers. It comprises a unit-mix ranging from cosy 1-bedroom apartments to 2-, 3- and 4-bedroom units. Parc Riviera offers its residents exceptional convenience, being located about 20 minutes from the city centre via the MRT and Ayer Rajah Expressway (AYE). Clementi MRT station takes commuters directly to employment hubs such as Raffles Place, Paya Lebar, and Jurong East within 20 minutes. The development features modern facilities, including tennis court, function room and lap pool.
PARC RIVIERA Transactions in January 2025
Floor/ Unit | Resale Price ($) | Area (SQFT) | Unit Price ($ PSF) | Gains from previous caveat ($) | Purchase date | Annualized Gains (%) |
#15-XX | 1,500,000 | 904 | 1,659 | 415,200 | Mar-17 | 4.3% |
#23-XX | 805,000 | 463 | 1,739 | 205,000 | Jun-17 | 4.0% |
#24-XX | 1,190,000 | 710 | 1,675 | 252,000 | May-17 | 3.2% |
#23-XX | 1,080,000 | 646 | 1,672 | 258,000 | Nov-16 | 3.4% |
#36-XX | 1,330,000 | 1,033 | 1,287 | 301,980 | Apr-17 | 3.4% |
#13-XX | 1,060,000 | 646 | 1,641 | 285,000 | Jul-17 | 4.3% |
#30-XX | 1,080,000 | 646 | 1,672 | 219,000 | Mar-17 | 2.9% |
Top individual gainers found mostly in central region
In January, the top gainers heralded from mostly Central Region homes, with the CCR leading the pack, pulling in bigger numbers in terms of profit quantum by individual deals. By a ranking of the gross profit, six out of the top 10 transactions were for units in projects located in the CCR and four transactions in the RCR.
The gross profits of the top 10 transactions - based on caveats lodged - ranged from $2.04 million to $.54 million. In January, the units which chalked up larger gains were mostly sizeable large format condos that are more than 1,400 sq ft in size, and consisted mostly of older projects built in the 1970s to early 2000s. The respective holding periods for the top 10 resale properties were mostly beyond 10 years - the oldest being a unit held for nearly 26 years.
Top 10 Resale Condo transactions in January 2025 by gross profit
It was found that the most profitable transaction in January 2025 was for a 7th floor unit at Ardmore Park, a CCR project. It was resold for an estimated profit of $8.54 million, reflecting an annualised profit of 4.7%. Based on URA Realis caveat data, the 2,885-sq ft unit was first bought in May 2002 and subsequently resold for $13.2 million in January 2025, with a holding period of nearly 23 years. The freehold project in Newton (District 10) was built in 2001, and it is situated within the prestigious Ardmore housing enclave - a stone's throw from the Orchard Road shopping belt.
The second top gainer in terms of gross profit was for unit transacted at Palm Spring in district 10, which fetched a gross profit $3.19 million (annualised profit of 6.9%) based on caveats lodged. The 1,884 sq ft 4th floor apartment was sold for $4.4 million, with a holding period of nearly 20 years. The freehold project in Tanglin (District 10) was built in 1997, and it is situated within the Balmoral housing enclave - a short walk to Newton Circus and just a short drive from the Orchard Road shopping belt.
The top 10 gainer in the suburbs for the month was for a 5th floor unit located in The Sea View. The 1,518-sq ft unit was sold for $3.95 million, achieving an estimated profit of around $2.8 million which reflects a decent annualised profit of 6.7% over a holding period of about 19 years. The freehold waterfront project was built in 2008 and is also a short walk to the newly-opened Marine Terrace MRT station on the Thomson-East-Coast line (TEL). The development is located close to a myriad of amenities in the Marine Parade estate including, Parkway Parade, Katong Plaza, Roxy Square, i12 Katong and Marine Parade Central Market and Food Centre.
With interest rate cuts starting to moderate and the economy expected to expand, resale activity and gains is expected to pick up further in 2025.
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