10 Most Profitable Executive Condos In 2024 (One Owner Made A Stunning $1 Million)

2024 is a very different time from when Executive Condos (EC) were first conceived in the 1990’s. Given how much private property prices have risen since the pandemic, the profits that some EC owners have made have been substantial. In this piece, we take a look at ECs that were recently built, to see how well things are going:

Profits from recent ECs

Note: New ECs come with a five-year MOP. Transactions before this are special cases, where owners have been permitted to sell for exceptional reasons (e.g., divorce, death of a co-owner, migration, and so forth). 

In these unique cases, the transactions may not be exact representations of resale potential. In crisis situations, for example, the unit may have transacted for lower than market value. Do keep this in mind for ECs that have yet to reach their MOP. 

Which were the top ECs for gains?

Hundred Palms Residences was one of the top performers, but we won’t go into that in this article, as it’s covered in more detail here. 

As an aside, do note that many profitable ECs tend to come from the 2016 period when there was an EC oversupply that incentivised more competitive pricing.

1. Treasure Crest

Treasure Crest is a 504-unit EC, which was launched in July 2016. Like many ECs at the time, developer prices were much lower; in part due to the income ceiling being $14,000 (as opposed to $16,000 today), and the market seeing an EC oversupply. 

During initial sales, the average price was about $751 psf. At the close of developer sales in March 2019, the average was $1,019 psf. Today, Treasure Crest already has 143 profitable transactions with no losses, and current prices average $1,446 psf. Profits have been stunning for the first owners here, with an average gain of $721k over the 143 transactions. There was even an owner who made slightly over a million dollars ($1,051,000, to be exact. This was for a 1,346 sq. ft. unit that was bought for $780 psf and sold for $1,561 psf in June 2024.

Even with such profits, the resale prices are quite attractive to buyers today: the project has seen 958 sq. ft. units transact at around $1.35 million, while 1,076 sq .ft. units have gone for as low as $1.54 million. This quantum is within the “sweet spot” for most HDB upgraders.

The pricing does account for some locational issues though. The most glaring of these is the proximity to Sengkang General Hospital; buyers with taboos, or who worry about noise, may consider this a disamenity. Treasure Crest also lacks an MRT station within walking distance; residents will need to use Cheng Lim LRT, near the hospital, to get to Sengkang MRT station (NEL).

If Compass One Mall (near Sengkang MRT) is too far, residents can also walk to Anchorvale Village; this is an HDB-run mall that meets most daily needs. 

Whilst Sengkang isn’t a mature neighbourhood, the combination of Anchorvale Village, plus the developed HDB cluster around the hospital, makes Treasure Crest quite convenient; even if it’s not the most stellar location. 

2. Wandervale

Wandervale is a 534-unit EC launch and was the very first EC launch for 2016. It was quite popular, selling out 70 per cent during the launch weekend. 

Prices averaged $770 psf during launch, with the last few units selling much higher at $979 psf. Today Wandervale averages $1,450 psf, and has a perfect record of 101 profitable transactions with zero losses. The average profit per owner so far is $618,960, with the highest profit a cool $916,000 from an owner who recently sold a 1,259 sq. ft. unit in November 2024.

Three-bedders here average $1.4 million on the resale market, making it quite the draw for upgraders in the Choa Chu Kang area. 

Wandervale is one of the rare ECs that can claim to be close to an MRT station; this is Choa Chu Kang (NSL, JSL). This places the project within walking distance of Lot One, the major mall for the CCK area. While this condo is near a SAF army camp (Stagmont Camp), this is not one of the noisier or more traffic-heavy bases, so there’s no real disruption. There is, however, a place of worship nearby; so that may not be to every homebuyer’s liking.

The surrounding HDB enclave is very well developed, with plenty of coffee shops; and Teck Whye Shopping Centre (an HBD-run retail hub) covers most daily needs. While it is rather far to get to town, the location is a convenient one for people who love the West. 

3. INZ Residence

INZ Residence was the first EC launch of 2017, and at the time the key feature was unit size. This 497-unit condo is one of the few ECs with double-storey units, ranging between 1,690 to 1,711 sq. ft. Because these units are quite scarce, they were quick to sell out despite the higher quantum.

Prices didn’t move much during developer sales, starting at $774 psf at launch, and ending just marginally higher at $786 psf. Nonetheless, average prices today have reached $1,406 psf, with 68 transactions (no losses). The average owner here has made $565,293 so far, with 2 transactions nearly breaching the $1 million mark. These were the larger 1,711 sq. ft. units that were sold in October/November 2024.

INZ Residence is not the most accessible condo. It’s on the boundary line between Tengah and Choa Chu Kang; and whilst the future development of Tengah will greatly improve things, there isn’t a whole lot of benefit from its neighbour right now. There’s also no MRT station within walking distance, although Choa Chu Kang West (JSL) may fix that in 2026. For now, you’ll have to use the bus or drive.

The surrounding HDB areas have the usual heartland amenities, and the hub is the HDB-run Sunshine Place (which has a Giant supermarket). The Market & Food Centre, at Block 253, is also within talking distance; though perhaps a bit far for older residents. The location can meet most day-to-day needs, but you’re going to have to travel out for more serious retail or entertainment.

4. Sol Acres

One of the largest ECs in Singapore, Sol Acres has mega-development status with 1,327 units. This is the largest condo currently in Choa Chu Kang, with a land area of over 177,100 sq. ft. 

Sol Acres averaged $787 psf when sales began in August 2015 and ended at $963 psf in August of 2028. At present, it’s seen 452 profitable transactions with no losses and averages $1,452 psf. Each seller has made an average of $466,096 – a tidy sum still given the less accessible location.

That said, Sol Acres can be considered accessible if you don’t mind having to use the LRT. It’s roughly equidistant between Keat Hong and Teck Whye LRT, both of which lead to Choa Chu Kang MRT station (NSL, JSL). This is also where the major mall Lot One is located. Coupled with Teck Whye’s well-developed HDB enclave, there’s no need to travel too far out for daily conveniences.

The nearby Lian Hup Quarry provides a nice bit of greenery too, and the neighbouring town of Tengah could make this area more interesting (though that’s far in the future). The 1,076 sq. ft. units here have transacted for as low as $1.45 million, whilst smaller, 614 sq .ft. units still transact for under $1 million. If you don’t mind a high unit count and need to move in immediately, this is a decently-priced project in CCK.

5. The Visionaire

The Visionaire was one of a cluster of ECs to suddenly spring up in the Canberra area, including Parc Canberra and The Brownstone. For a time this caused worries about an oversupply, but as The Visionaire shows, there’s sufficient demand for now.  

This 632-unit project was the first EC to market itself with the “smart home” angle, although that feature probably won’t stand out anymore in the current market. The Visionaire saw very little price movement in its initial developer sales:

Prices averaged $821 psf in April 2016, slightly dipping to $815 psf by February 2018. As of today, there are 208 profitable transactions with no losses, and prices are around $1,395 psf. Each owner has made an average gain of $507,543 so far, with the highest profit of $811,500 going to a recent 1,313 sq. ft. unit in November 2024.

While Canberra is not the most developed area, The Visionaire manages to escape any real inconvenience. Canberra MRT station (NSL) is within walking distance, which is quite rare for an EC. Canberra Plaza, the staple mall for the area, can cater to most daily needs. Alternatively, Sembawang Shopping Centre is also nearby. So whilst Canberra itself isn’t mature, this specific spot is quite well developed.

Ongoing developments in the area, such as the launch of Bukit Canberra, are also promising – as the neighbourhood has a ways to go, there may be a lot of room for appreciation still. It remains to be seen, however, if the presence of so many nearby ECs will impact the price in the longer run. 

Ultimately, it’s a matter of timing

One thing’s for sure, it’s clear that buyers from 2015/16 benefited from purchasing during a market low, and those who sold in 2024 capitalised on a property market high. The jury is still out on the later ECs such as Rivercove Residences and Piermont Grand, as the starting prices were already hovering close to $1,000 psf or more.