10 Most Profitable Condos Based On Their Average Performance Since 2012
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Sean
- May 18, 2022
- 13 min read
13 min read
The last time we did an article on profitable condos, this was by a ratio of the highest profitable-to-unprofitable transactions since 1995. But with the various cooling measures and different policies throughout the years, sometimes looking at transactions dating so many years back may not be the most accurate way of looking at profitability.
As such, this time we narrowed it down to the more profitable condos from the past 10 years (since 2012).
Table Of Contents
How the data is obtained
We looked at transactions of actual units that were bought and sold within the last 10 years (since 2012). Only developments with at least 10 of such transactions were included. The results were ranked based on the average profitability (including losses and breakeven transactions).
Without further ado, let’s get on with the list!
Thomson 800
Location: 800-808 Thomson Road (District 11)
Lease: Freehold
Developer: Property Enterprises Development Pte Ltd
Completion: 1999
Number of units: 390
Average price: $1,6xx psf
| Project | Breakeven (Vol.) | Loss (Vol.) | Gain (Vol.) | Total Tnx | Loss (%) | Profit (%) | Average % Gain/Loss | Region | No. of Buy/Sell Tnx |
| THOMSON 800 | NA | 1 | 11 | 12 | -5.59% | 32.23% | 29.08% | Central Region | 12 |
Summary:
Thomson 800 is one of the condos that has really benefitted from the construction of the newer MRT lines. In previous years, it was known to be a condo only suitable for those who drive as Bishan MRT is some distance away. Today, it enjoys the convenience of not just one, but two MRT lines as it is just within a 5-minute walk to Caldecott MRT station (Thomson East Coast and Circle Line).
While it is getting on in years, word on the ground is that it is still generally well maintained for its age. You do also get to enjoy the views here, as most stacks will enjoy panoramic views of the central catchment area (basically Macritchie Reservoir). Save for the giant Braddell View next door, you will be one of the tallest in the immediate vicinity as you are surrounded by Mount Alvernia Hospital and Marymount Convent School.
Of course, you have easy access to the picturesque Macritchie Reservoir Park, and you will be within the 1 km range to both Marymount Convent and CHIJ Primary (Toa Payoh). Plus, the larger than average unit sizes of 1,324 – 5,291 sq ft make this an ideal choice for families looking to stay in a central location. With a land size of nearly 300,000 sq ft of freehold land and just 390 units, it’s no wonder that Thomson 800 has enjoyed a steady growth in prices in the past few years.
Signature Park
Location: Toh Tuck Road (District 21)
Lease: Freehold
Developer: CDL
Completion: 1998
Number of units: 928
Average price: $1,5xx psf
| Project | Breakeven (Vol.) | Loss (Vol.) | Gain (Vol.) | Total Tnx | Loss (%) | Profit (%) | Average % Gain/Loss | Region | No. of Buy/Sell Tnx |
| SIGNATURE PARK | NA | NA | 24 | 24 | NA | 27.10% | 27.10% | Central Region | 24 |
Summary:
Signature Park has been one of the stalwarts of the area, which has seen quite a significant change in recent years. Goodluck Garden next door has now been replaced with the upcoming Forett @ Bukit Timah, and just across the road is the soon to be completed Daintree Residence (plus next to it is View @ Kismis). Last but not least, Verdale is located close to its main entrance at Jalan Jurong Kechil. So yes, there will be a lot more residential units coming up in the next few years. This quite frankly could pose further issues as Toh Tuck Road is already quite jammed during peak hours (it’s a single lane and there are buses that ply these routes). There are also future residential plots along Toh Tuck Road, so something will have to be done here to ease traffic further.
It’s a problem that is further compounded because you are not the closest located to Beauty World MRT station (about an 850m walk away), so many residents that live here are reliant on cars. It was also completed in 1998, so the facade is definitely considered to be dated-looking.
Now, let’s talk about the positives. It’s a massive freehold plot of land (786,125 sq ft), so while it has 928 units, it isn’t as dense as you might imagine. For families, the ample land size will be much appreciated as kids can run about, and you do have a kids playground, 2 swimming pools, tennis courts, squash courts, and a multi-purpose court so there are a lot of activities for families to enjoy.
You are also within a 1 km radius of Bukit Timah Primary School and the popular Pei Hwa Presbyterian Primary as well.
Pine Grove
Location: Pine Grove (District 21)
Lease: 99-years
Developer: HUDC Housing
Completion: 1984
Number of units: 660
Average price: $1,0xx psf
| Project | Breakeven (Vol.) | Loss (Vol.) | Gain (Vol.) | Total Tnx | Loss (%) | Profit (%) | Average % Gain/Loss | Region | No. of Buy/Sell Tnx |
| PINE GROVE | NA | NA | 13 | 13 | NA | 22.19% | 22.19% | Central Region | 13 |
Summary:
Pine Grove sits on an extensive land size of 893,038 sq ft, but it contains just 660 units. For perspective Treasure at Tampines at 650,000 sq ft is quite a bit smaller (it’s nearly a whole Floridian), but yet has 2,203 units – if that doesn’t tell you how much space Pine Grove has, I don’t know what will!
That said, its biggest draw is also currently the biggest thorn in its side, as that huge land size makes its price prohibitive for developers to buy in this current climate (the last asking price was $1.7 billion). They have tried multiple times already, and the soon to be concluded Pine Grove GLS site where the old Nexus School used to be probably hasn’t helped things.
For those who don’t know, Pine Grove is one of the few remaining former HUDC developments – hence it has a facade that is reminiscent of older HDB’s in Singapore – so it isn’t anything fancy. It does have several facilities though, like a minimart, swimming pool, gym, tennis court, and a basketball court. You can also walk to Pandan Valley and Ridgewood for several shops and eateries, but there really isn’t all too much within a walking distance.
It also isn’t close to an MRT station, so you would be highly dependent on the bus or a car to get around.
For families that drive though (unfortunately, no sheltered car park), the expansive land is a major draw that you really can’t get anywhere else. Pine Grove also offers large units which range from 1,193 to 1,938 sq ft, so you can’t fault it space-wise. It is also within 1 km range to Pei Tong Primary and Henry Park Primary (although do check as this is only for certain blocks).
The Summit
Location: Upper East Coast Road (District 16)
Lease: Freehold
Developer: Tuan Huat Development Pte Ltd
Completion: 1991
Number of units: 242
Average price: $1,3xx psf
| Project | Breakeven (Vol.) | Loss (Vol.) | Gain (Vol.) | Total Tnx | Loss (%) | Profit (%) | Average % Gain/Loss | Region | No. of Buy/Sell Tnx |
| THE SUMMIT | NA | NA | 10 | 10 | NA | 21.20% | 21.20% | East Region | 10 |
Summary:
This is one of the smaller developments on this list, with just 242 units on a very sizeable freehold plot of 323,271 sq ft – which is a great ratio that you can only find in older developments these days.
And despite its age and dated design, it has been well taken care of with a “new” coat of paint along with major works done to the swimming pool area. While it isn’t at today’s standard of an infinity pool, it certainly looks modern enough. Plus, the units here are bigger than average too, ranging from 829 to a very spacious 3,724 sq ft. For a development that is more than 30 years of age, this is probably one of the better-maintained places available.
School-wise, you are within a 1 km range of Temasek Primary and Bedok Green Primary School so it should appeal to parents with school-going children. The upcoming Bayshore MRT station is very close by too, which will bring a new level of convenience to the area. You can also walk to East Coast Park from The Summit, which is of course a luxury that has been enjoyed by residents here for many years.
One thing to note though, is the residential plots surrounding the Bayshore MRT station that are at a plot ratio of 3.5. This will likely block any sort of views you have over the area in the future as the new blocks can potentially be higher.
Coco Palms
Location: Pasir Ris Grove (District 18)
Lease: 99-years
Developer: CDL
Completion: 2018
Number of units: 944
Average price: $1,3xx psf
| Project | Breakeven (Vol.) | Loss (Vol.) | Gain (Vol.) | Total Tnx | Loss (%) | Profit (%) | Average % Gain/Loss | Region | No. of Buy/Sell Tnx |
| COCO PALMS | NA | NA | 179 | 179 | NA | 20.64% | 20.64% | East Region | 179 |
Summary:
For a little bit of trivia for you, Coco Palms is the last of the 5 plots of land that City Development Limited (CDL) has developed in Pasir Ris Grove into condominiums. For those who are counting, that’s Livia, NV Residences, The Palette, and d’Nest as the previous few. While it is arguably the best plot (it’s not sandwiched between any development and it’s the closest to White Sands and the MRT), you don’t get to enjoy the longest lease here, as the lease here actually started since 2008.
Aside from the lease though, it was only completed in 2018 so you get to enjoy a modern design as well as resort-like facilities. Given the size of the development (there are 944 units), the facilities are generally super-sized as well – these include a Grand Lagoon, salt water pool, onsen-style hot bath, and a 3-storey Clubhouse.
For families who are looking at Coco Palms, you are within a 1 km radius of Elias Park Primary and Park View Primary (well, all blocks except for Block 17). Do also note that quite a large length of the development faces Pasir Ris Drive so traffic noise is to be expected.
Pasir Ris MRT station is a dual-line with the upcoming Cross Island Line, and there will be further upgrades to the area through Pasir Ris 8 in the future – with a new retail mall covering almost 375,000 sq ft of space.
The Alps Residences
Location: Tampines st 86 (District 18)
Lease: 99-years
Developer: MCC Land
Completion: 2019
Number of units: 626
Average price: $1,3xx psf
| Project | Breakeven (Vol.) | Loss (Vol.) | Gain (Vol.) | Total Tnx | Loss (%) | Profit (%) | Average % Gain/Loss | Region | No. of Buy/Sell Tnx |
| THE ALPS RESIDENCES | NA | NA | 57 | 57 | NA | 18.29% | 18.29% | East Region | 57 |
Summary:
The Alps Residences is a pretty new development that follows a string of other condo developments along Tampines Avenue 10 (although it doesn’t quite offer a direct Tampines Quarry water view as the rest).
It has a total of 626 units, ranging from a tiny 441 to a more spacious 2,486 sq ft (these are the 5 bedroom penthouses) that sits on a land area of 168,567 sq ft – so it’s not the most spacious development around.
Given its name, it is a development that is rather uniquely inspired by the Alps – with a cascading roofline and public terraces along different levels. The pavilions here also do adopt elements of the design from the mountain cabins that you see in the alps, albeit done in a modern interpretation of course.
There are basic shops and amenities found in the nearby HDB cluster across the street, and the condo itself does have an interesting ice cream shop that is open till 2 am that the public can visit as well. You are also within the 1 km range to Poi Ching School and St Hilda’s Primary, for parents looking in the area.
There are a couple of downsides to note, however. First, you aren’t exactly within walking distance to an MRT station. Certain stacks will also face construction noise for the next few years as Parc Central Residences next door is only scheduled to be completed in 2025. Also, currently, the empty land across the street is zoned as a business area that is still subject to detailed planning – so there will definitely be further changes in the future.
High Park Residences
Location: Fernvale Road (District 28)
Lease: 99-years
Developer: CEL Development, Heetong Holdings Limited, KSH Holdings Limited
Completion: 2019
Number of units: 1,390
Average price: $1,3xx psf
| Project | Breakeven (Vol.) | Loss (Vol.) | Gain (Vol.) | Total Tnx | Loss (%) | Profit (%) | Average % Gain/Loss | Region | No. of Buy/Sell Tnx |
| HIGH PARK RESIDENCES | NA | NA | 313 | 313 | NA | 25.49% | 25.49% | North East Region | 313 |
Summary:
High Park Residences has been an exceptionally profitable development for those who were the first batch of buyers. Currently, there has been a total of 333 profitable transactions, and 0 unprofitable transactions overall since the first sale in 2017.
It’s not a small development by any means, with 1,390 units sitting on a 366,168 sq ft plot of land. You definitely are going to feel the number of units here, but given the way the facilities are laid out, it doesn’t feel as overbearing as you might imagine.
There’s a great diversity in the units here, from small studio units all the way to the bigger strata landed units. There is a mini-mart and some food shops within the development, but you also have more options at The Seletar Mall and Jalan Kayu, which are both a walkable distance away.
Facilities wise, High Park Residences is really a major attraction for families. With multiple swimming pools, water slides, a flying fox, playgrounds, a boxing ring, and a foosball table, there really is a ton to keep kids entertained. If you are upgrading from an HDB flat, it’s easy to see the appeal here.
That said, you’d probably want to have a car here, as while you are next to Thanggam LRT station, High Park Residences is definitely not close to any MRT station. And neither is Sengkang the most convenient location to be in Singapore either.
Finally, do note that opposite High Park Residences (where the Parc Botannia show flat used to be) is zoned as Education under the URA Master Plan. You are already within 1 km range to Ferngreen Primary, Sengkang Green Primary, and Fernvale Primary School though.
The Panorama
Location: Ang Mo Kio Avenue 2 (District 20)
Lease: 99-years
Developer: Pinehill Investments Pte. Ltd.
Completion: 2017
Number of units: 698
Average price: $1,7xx psf
| Project | Breakeven (Vol.) | Loss (Vol.) | Gain (Vol.) | Total Tnx | Loss (%) | Profit (%) | Average % Gain/Loss | Region | No. of Buy/Sell Tnx |
| THE PANORAMA | NA | NA | 124 | 124 | NA | 19.31% | 19.31% | North East Region | 124 |
Summary:
The Panorama is a newish 99-year leasehold development that was completed in 2017. It has 698 units and sits on a land plot of 198,942 sq ft in size. If you’ve driven around in the Ang Mo Kio area before, it is definitely hard to miss The Panorama (save for the HDB flats at Kebun Baru) as it is straddling Mayflower Primary School, CHIJ St Nicholas Girls’ School, and the landed enclave over the Thomson landed estate. As a result, the views you get are generally pretty good, and certain stacks can even enjoy a central catchment view (the greenery surrounding the Lower Peirce Reservoir).
Besides the above primary schools, you are also within the 1 km range of Ang Mo Kio Primary School. CHIJ St Nicholas Girls’ School is definitely a big draw here, and for kids a major boon as you are right next door.
The Thomson East Coast line being built here is also another reason why The Panorama has done well in recent years, with Mayflower MRT station within walking distance at about 440m away.
Forest Woods
Location: Lorong Lew Lian (District 19)
Lease: 99-years
Developer: CDL
Completion: 2020
Number of units: 519
Average price: $1,7xx psf
| Project | Breakeven (Vol.) | Loss (Vol.) | Gain (Vol.) | Total Tnx | Loss (%) | Profit (%) | Average % Gain/Loss | Region | No. of Buy/Sell Tnx |
| FOREST WOODS | NA | NA | 45 | 45 | NA | 18.73% | 18.73% | North East Region | 45 |
Summary:
Forest Woods is a classic example of a location that really showcases the conflict of staying in a convenient location. First up, let’s talk about the good points. It’s located within a walkable distance of the dual-line Serangoon MRT station (about 420m away) where you can get to the North East and Circle lines. It’s of course also here that you can get to NEX as a major mall for retail and food options, and the massive 24-hour NTUC Xtra.
You also do have the luxury of ample bus services (17) plying the main Serangoon road, while there are also basic shops and amenities found in the nearby HDB cluster.
And to round up the plus points of the location, you are also within a 1 km radius of Yangzheng Primary, Maris Stella High School, and Paya Lebar Methodist Girl’s School (Primary).
But as said, its convenient location does come at a cost as you are flanked by Serangoon Road and Upper Paya Lebar Road. While there is at least a little setback away from Upper Paya Lebar Road, there is also the matter of the Serangoon Viaduct flyover right next to it (at least the blocks don’t directly face this), so traffic noise is definitely an issue here.
The condo itself is more than decently equipped in terms of facilities. With a 150m Adventure Zone, 75m long pool, a lobby with wifi, 24-hour gym, and 3-storey clubhouse (if it sounds familiar, Forest Woods is built by the same developer as Coco Palms), it is great for families. And 519 units is not too bad a size too, where it has enough units to justify the number of facilities and a reasonable monthly maintenance, yet not too many that it starts to feel overcrowded.
North Park Residences
Location: Yishun Central 1 (District 27)
Lease: 99-years
Developer: Frasers
Completion: 2018
Number of units: 920
Average price: $1,6xx psf
| Project | Breakeven (Vol.) | Loss (Vol.) | Gain (Vol.) | Total Tnx | Loss (%) | Profit (%) | Average % Gain/Loss | Region | No. of Buy/Sell Tnx |
| NORTH PARK RESIDENCES | NA | 3 | 75 | 78 | -2.53% | 17.48% | 16.71% | North Region | 78 |
Summary:
Address: Yishun Central 1 (District 27)
No of units: 920 units
Tenure: Leasehold
TOP in 2018
Current average price: $1,7xx psf
North Park Residences is usually considered one of the success stories of Yishun, and a reason why those who’ve invested in the OCR over the last couple of years would be happy campers indeed (just as with High Park Residences). There have been 82 profitable transactions so far, and just 3 unprofitable ones.
A big attraction of North Park Residences is its ultra convenience. It’s an integrated development with a mall (Northpoint City), bus interchange, and direct link to Yishun MRT station. Northpoint City is currently the largest mall in the north end of Singapore. It’s close to 500,000 sq ft in size, with approximately 400 shops and a “food precinct” called The Makan Town. The Nee Soon Central Community Club is also here and was the first CC to be located inside a mall. The Yishun public library is also located inside this mall, and it’s connected to the Yishun MRT station and bus interchange. Judging by how crowded it is even on weekdays, it’s undoubtedly a very popular space to be in Yishun.
As with any integrated mall, the price to pay for convenience is that it is always going to be crowded and noisy the moment you step out from home. And with some 920 units, some people might find the busyness of it all too overwhelming as a home to live in.
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could u write an article about the most unprofitable condos since 2012?
Thanks for the feedback! Will check on that one!