Affinity at Serangoon vs The Garden Residences: Same Launch Year, Same Location — But Which Gave Better Capital Gains?
Two Serangoon condos, launched in the same year, same location—yet one outperformed the other. See how scale tipped the balance in this head-to-head case study.
Do Mega-Developments Deliver Better Returns Than Mid-Sized Projects?
Comparison We analysed Affinity at Serangoon (1,052 units) and The Garden Residences (613 units) - two leasehold projects launched in 2018, located just minutes apart, with nearly identical surroundings, to isolate how scale impacts price performance.
Key Insight Affinity at Serangoon outperformed Garden Residences in annualised gains (2.49% vs. 1.69%) and delivered stronger returns across one- to three-bedroom units, despite starting from a lower price base.
Why This Matters This case challenges the assumption that mega-developments suffer from resale pressure or underperform due to their scale. Affinity’s listing activity and resale turnover mirrored that of Garden, suggesting that size alone isn’t a limiting factor, and may even offer an edge.
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How did Affinity at Serangoon perform compared to The Garden Residences in terms of capital gains?
Affinity at Serangoon outperformed The Garden Residences in annualised gains (2.49% vs. 1.69%) and delivered stronger returns across one- to three-bedroom units, despite starting from a lower price base.
Did the size of the development affect its resale performance?
The analysis suggests that size alone isn't a limiting factor; Affinity at Serangoon, a mega-development, had similar listing activity and resale turnover as The Garden Residences, indicating larger scale can still deliver good returns.
How did COVID-19 impact the sales and pricing of The Garden Residences?
COVID-19 led to a price drop for The Garden Residences, creating a more attractive entry point for buyers in 2020, which helped boost sales and set the stage for stronger appreciation in subsequent years.
Which project had better price performance from 2018 to 2024?
Affinity at Serangoon showed better overall price performance, with a total ROI of 13.4% from 2020 to 2024, compared to 13.9% for The Garden Residences, but Affinity had a higher annualised return of 3.2% versus 3.3%.
How do unit layouts and sizes compare between Affinity at Serangoon and The Garden Residences?
Affinity's units generally started at a lower price and performed better in capital gains, with layouts like the longer kitchen in one-bedders and larger sizes in three-bedder units. The Garden Residences often had more efficient layouts, such as the wider kitchens in two-bedder units.
A seasoned content strategist with over 17 years in the real estate and financial journalism sectors, Ryan has built a reputation for transforming complex industry jargon into accessible knowledge. With a track record of writing and editing for leading financial platforms and publications, Ryan\’s expertise has been recognised across various media outlets. His role as a former content editor for 99.co and a co-host for CNA 938\’s Open House programme underscores his commitment to providing valuable insights into the property market.
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