The 396-unit Chestervale was one of the first executive condominiums (ECs) that Singaporeans encountered, after the hybrid housing scheme was launched in 1995. We’ve shared in previous articles that the first tranche of ECs got off to a relatively rough start.
Those projects hit the market when the Asian Financial Crisis struck in 1997, and Chestervale launched that year. This makes Chestervale an interesting study for our examination of EC projects, especially as a point of comparison against newer EC counterparts.
Chestervale features many of the attributes commonly associated with most older ECs. Its unit mix features larger-sized units, the development was far from existing MRT lines (the Downtown Line was only operational in 2013), and the project had a full suite of facilities.
Despite these attributes, how have selling prices at Chestervale performed to date? Let’s take a look at how this emblematic, early-generation EC has fared over time.
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A snapshot of Chestervale as of end-2025
Average transacted prices for Chestervale in 2025
| Unit type | Average $PSF | Average price | Transaction volume |
| 3-bedroom | $1,037 | $1,418,889 | 10 |
In our view, a resale three-bedroom unit going for under $1.5 million is affordable compared to prevailing resale prices on the market, especially since we see some two-bedroom units in new launch condos fetch close to $1.8 million.
| Likely buyer profiles | Less suitable for |
| Buyers prioritising larger units over newer layouts and facilities | Buyers who are more sensitive to the age of units and facilities |
| Buyers looking at longer holding periods, as the post-MOP price boom has already happened | Buyers looking for quicker resale gains |
| HDB upgraders from Bukit Panjang or nearby, who want to stay in the general idea | Buyers who want a more central or accessible location |
Let’s look at the overall property price performance of District 23 (D23), where Chestervale is located.
This will help to frame our expectations for the overall performance of condos here.
All tenures
| Year | D23 | All non-landed private properties |
| 2015 | $957 | $1,180 |
| 2016 | $914 | $1,232 |
| 2017 | $945 | $1,304 |
| 2018 | $999 | $1,435 |
| 2019 | $1,089 | $1,560 |
| 2020 | $1,094 | $1,513 |
| 2021 | $1,285 | $1,600 |
| 2022 | $1,263 | $1,712 |
| 2023 | $1,525 | $1,869 |
| 2024 | $1,591 | $1,886 |
| 2025 | $1,533 | $2,092 |
| Annualised | 4.82% | 5.90% |
99-year leasehold
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