15 Most Profitable Condos By Transactions (Divided By Region)
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Ryan J
- April 2, 2022
- 12 min read
12 min read
We last wrote about the 13 condos with the most unprofitable transactions (sorted by region) in Singapore. And with condo prices going up everywhere, it can seem like there’s “no wrong choice” right now. But remember that things can change fast in Singapore’s real estate environment (cooling measures happen overnight, remember?)
Still, we figured it would be equally fascinating to see which were the top performers to see if there are any commonalities to learn. To uncover these, we distilled down the number of profitable and unprofitable transactions for every development based on transactions from 1995. From here, we removed developments with less than 10 transactions, then we sorted them by region and by the proportion of profitable versus unprofitable transactions.
Note: By most profitable, we define it as having the highest profitable-to-unprofitable transactions, not based on quantum or % gain on average. That would be an article for another time!
These are the most profitable condos by region up till January 2022:
Table Of Contents
- Central Region Condos
- 1. The Poiz Residences
- 2. Arthur 118
- 3. Principal Garden
- East Region Condos
- 1. Coco Palms
- 2. Grand Duchess at St. Patrick’s
- 3. The Alps Residences
- North East Region Condos
- 1. High Park Residences
- 2. Botanique at Bartley
- 3. The Panorama
- North Region Condos
- 1. The Wisteria
- 2. D’Banyan
- 3. Eight Courtyards
- West Region Condos
- 1. Parc Riviera
- 2. The Clement Canopy
- 3. Twin VEW
Central Region Condos
The top three performers in the central region are:
- The Poiz Residences
- Arthur 118
- Principal Garden
1. The Poiz Residences
Location: 4 Meyappa Chettiar Road (District 13)
Lease: Leasehold
Developer: MCC Land
Completion: 2018
Number of units: 731
Average price: $1,753 psf
Profitable transactions: 97
Unprofitable transactions: 0
Summary:
It’s not surprising that The Poiz Residences does so well in Potong Pasir, as it comes with key amenities (it’s mixed-use). NTUC FairPrice, Guardian, Watsons, and various eateries are all attached via The Poiz Centre. The Potong Pasir MRT station (North East Line) is also connected.
This is a big deal for Potong Pasir which, despite being a central area, has long been sparse in certain amenities. In fact, The Poiz was the first mall to come along in decades at its particular location.
We recently wrote about it here too, where it was worth pointing out that The Poiz Residences has recorded 97 profitable transactions (at the time of writing), and no unprofitable transactions since it was launched. At that time, it was well-priced as compared to Sennett Residence, despite being launched later.
St. Andrews Village, an education cluster including St. Andrews Junior and St. Andrews Secondary School, are within seven minutes walking distance. All in all, this makes The Poiz one of the best located private developments in the Potong Pasir area.
2. Arthur 118
Location: 118 Arthur Road (District 15)
Lease: Freehold
Developer: Fortune Development Pte. Ltd.
Completion: 2006
Number of units: 55
Average price: $1,389 psf
Profitable transactions: 81
Unprofitable transactions: 0
Summary:
Arthur 118 is one of only three freehold properties to make this article.
It’s quite uncommon to find boutique properties that are top performers, due to less general awareness about the product, and how prices can be staged with fewer transactions each month. Although buyers of Arthur 118 have probably realised that the upcoming Katong Park MRT station (Thomson-East Coast Line) is just three minutes walk from this condo, and will be ready in 2023.
It’s about a five-minute drive to the heart of the Katong lifestyle hub, where you’ll find malls like i12 Katong. This area is popular with expatriates, and has a good number of family-friendly pubs and dining options; it’s also a bit of an enrichment-school hotspot.
Another point of appeal could be the presence of two fairly prestigious schools. These are Dunman High (530 metres), and Chung Cheng High School (800 metres).
The main problem with Marine Parade area condos, however, is the sheer number of boutique developments like this one. Many competing alternatives exist, even if the proximity to the MRT station differentiates Arthur 118.
3. Principal Garden
Location: 93 Prince Charles Garden (District 3)
Lease: 99-years
Developer: Secure Venture Development Pte. Ltd.
Completion: 2018
Number of units: 663
Average price: $2,003 psf
Profitable transactions: 79
Unprofitable transactions: 0
Summary:
Principal Garden continues to be popular thanks to its immediate surrounding area, as it borders the prestigious Jervois enclave of landed homes. It’s hard to see on paper, but a visit to the grounds of Principal Garden is all it usually takes to sway people, with its array of swimming pools and spacious land.
The main drawback is it’s a little bit of a tiring walk to Redhill MRT (East West Line), as you have to go all the way across the Alexandra canal and park connector; but it is more or less within 10 minutes; just not everyone may consider it convenient. From here you’re just one stop away from Tiong Bahru.
Valley Point Shopping Centre is also roughly the same distance away; this is not a very big mall, but you can fill most basic needs; there is a FairPrice Finest in the mall.
In brief, a lot of the appeal is quick access to Tiong Bahru, without crazy Tiong Bahru prices. Beyond this, some families may appreciate that Principal Garden is quite central, but without the noise and urban density of many other central neighbourhoods. Redhill has several quiet spots and a lot of greenery.
Do note that there is an upcoming Alexandra BTO site that is right outside which will hold approximately 1,500 units. So you’d have to be selective with your choice of facing here.
East Region:
The top three performers in the central region are:
- Coco Palms
- Grand Duchess at St. Patrick’s
- The Alps Residences
1. Coco Palms
Location: 21 Pasir Ris Grove (District 18)
Lease: 99-years
Developer: Hong Realty Pte. Ltd.
Completion: 2018
Number of units: 944
Average price: $1,293 psf
Profitable transactions: 188
Unprofitable transactions: 0
Summary:
Even at launch, Coco Palms was one of the more competitively priced offerings on the market. During its launch in 2014, there were even units sold for as low as $680 psf, with the typical sale price (from the developer) being just $1,024 psf.
Coco Palms is also just a six-minute walk from Pasir Ris MRT, which is an interchange for the East West Line, as well as the developing Cross Island Line. Meanwhile, White Sands, the major heartland mall for the area, is just an eight-minute walk away.
Downtown East, one of the largest family recreation waterparks, is just around a seven-minute drive from this condo.
So it’s not surprising to see persistent demands here; at our time of writing (end-March), there have already been 11 more transactions at Coco Palms since the start of the year.
There’s likely room for appreciation still, given the still reasonable prices. At 944 units its close to being a mega-development though, so families may will definitely appreciate the wealth of facilities here. Of course, there is the upcoming Pasir Ris Mall to look forward to, as well as the very popular Pasir Ris 8 which will provide a further uplift in prices.
2. Grand Duchess at St. Patrick’s
Location: 128 St. Patrick’s Road (District 15)
Lease: Freehold
Developer: UIC Investment Pte. Ltd.
Completion: 2010
Number of units: 121
Average price: $1,575 psf
Profitable transactions: 118
Unprofitable transactions: 0
Summary:
Grand Duchess is a project for those who like exclusivity, with only 121 units.
Renewed interest may be coming from the upcoming Marine Terrace MRT (Thomson-East Coast Line) as it is located right outside the development. Other than that, most of the appeal comes from the long, density stretch all the way down to the Siglap landed enclaves. This is also an area that boasts an increasing number of artisanal cafes and restaurants. Siglap Centre, which is around a six-minute drive away, has a Cold Storage right across the road.
If you travel in the other direction (toward Katong), it’s only about a six-minute drive to the Katong lifestyle stretch near i12 Katong.
Until the MRT station comes up though, residents will have to mainly rely on the near bus routes or cars.
It’s quite easy to see the appeal here. It’s freehold, with bigger than average unit sizes, and close to schools such as CHIJ Katong Covent, Saint Patrick’s School, Ngee Ann Primary, and Victoria Junior College.
For East-enders who value exclusivity, but can’t cope with Meyer Road pricing, this should be one of the first condos to look at.
3. The Alps Residences
Location: 107 Tampines Road, Street 86 (District 18)
Lease: 99-years
Developer: MCC Land
Completion: 2019
Number of units: 626
Average price: $1,358 psf
Profitable transactions: 63
Unprofitable transactions: 0
Summary:
When it first launched, there were some gripes about The Alps’ distance from the central hub of Tampines.
This is the area around the Tampines MRT station, where you find three malls, Grade A offices, etc. Unfortunately, you can’t easily walk to this hotspot from The Alps; it’s a six-minute drive at best.
The Alps is closer to the more scenic, less busy part of Tampines, one the side of Tampines Quarry. This may be better suited to families. Junyuan Secondary School is just a seven-minute walk from this condo; and expatriate families may appreciate that it’s an equal distance to United World College (UWC) of Southeast Asia.
This condo is at a very comfortable price point for HDB upgraders (a 1,000+ sq. ft. unit is just barely past $1.46 million). This makes it quite enticing to HDB dwellers already residing in Tampines; they can upgrade while remaining in the regional hub of the east.
North East Region Condos
The top three performers in the north-east region are:
- High Park Residences
- Boutique at Bartley
- The Panorama
1. High Park Residences
Location: 27 Fernvale Road (District 28)
Lease: 99-years
Developer: Fernvale Development Pte. Ltd.
Completion: 2019
Number of units: 1,390
Average price: $1,347 psf
Profitable transactions: 321
Unprofitable transactions: 0
Summary:
An argument in favour of mega-developments, High Park Residences has made a lot of its earliest buyers happy. With 321 profitable transactions since its launch in 2019, it has to be one of the most successful launches of recent years.
When this development first went up for sale in 2017, many units were just a little past $1,000 psf. Now, just around five years later, units are reaching an average of $1,347 psf (although more skeptical market watchers may argue this is less about the development, and more about prices ramping up following the pandemic).
In any case, High Park Residences has quick access to The Seletar Mall. It’s just a three-minute walk to Thangga LRT, and from there it’s one stop to Fernvale LRT and the mall. The LRT loop connects to Sengkang MRT station, on the North East Line.
While Sengkang is not a heavily built-up area – something that may add to the appeal for some buyers – this condo avoids most of the related inconveniences thanks to the nearby LRT and mall.
It’s definitely one for families with a wealth of facilities that you won’t find in smaller developments like a boxing ring, mutiple slides, and a flying fox.
2. Botanique at Bartley
Location: 237 Upper Paya Lebar Road (District 19)
Lease: 99-years
Developer: UOL
Completion: 2019
Number of units: 797
Average price: $1,644 psf
Profitable transactions: 170
Unprofitable transactions: 0
Summary:
This development is located just around a 3-minute walk from the Bartley MRT station.
Botanique will appeal to those who like living within low-density areas. It’s at the end of the road within a landed housing enclave, and the view overlooks another landed enclave along Rochdale Road (although some stacks are closer to Upper Paya Lebar Road and Bartley Road than we’d like, and may be a bit noisier. Be selective).
As with most lower density areas, you can’t expect to have a lot of malls nearby; the exclusivity is part of the point. Megamall Nex is probably going to be your main source of amenities, at an 11-minute drive; Upper Serangoon Shopping Centre offers a more limited alternative at six-minutes’ drive.
3. The Panorama
Location: 8 Ang Mo Kio Avenue 2 (District 20)
Lease: 99-years
Developer: Pinehill Investments Pte. Ltd.
Completion: 2017
Number of units: 698
Average price: $1,626 psf
Profitable transactions: 129
Unprofitable transactions: 0
Summary:
The Panorama has seen renewed interest thanks to the Mayflower MRT station (Thomson-East Coast line), which fixes its former accessibility issues. The condo is only around a six-minute walk from this MRT station.
This condo is typically first on the list, for parents who have their eyes set on the venerable CHIJ St. Nicholas’ Girls. You can walk to the school in five minutes on foot.
Ang Mo Kio Primary, Yio Chu Kang Secondary, and Mayflower Primary and Secondary are all also within priority enrolment distance.
Prices may be a bit high at this point for HDB upgraders, with 1,000+ sq. ft. units seeing a quantum as high as $1.77 million; and prices may have hit something of a peak.
Regardless, this condo will continue to make the shortlist for many house-hunting parents. Easy MRT access, coupled with nearby schools and a view facing low-density housing, will continue to have an appeal.
North Region
The top three performers in the north region are:
- The Wisteria
- D’Banyan
- Eight Courtyards
1. The Wisteria
Location: 590 Yishun Ring Road (District 27)
Lease: 99-years
Developer: Northern Resi Pte. Ltd. and Northern Retail Pte. Ltd.
Completion: 2018
Number of units: 216
Average price: $1,228 psf
Profitable transactions: 38
Unprofitable transactions: 0
Summary:
The Wisteria is better known to nearby residents as a mall; but sitting atop The Wisteria Mall (the commercial component) are 216 residential units.
We probably don’t need to explain why demand for The Wisteria is so high: it is the centre of amenities for the immediate area. The attached mall will have most of what you need, including a FairPrice Finest and a food court.
The Wisteria is also within walking distance of three schools: Northland Primary, Chung Cheng High School, and Naval Base Primary are all within seven to 10 minutes on foot.
As far as families go, The Wisteria can swing either way: families tend to either love living right on top of a mall, or absolutely hate it.
The main drawback to all this is the lack of MRT access. Bus routes are a bit limited as well, with the nearest bus stops offering just bus 805 and 812.
2. D’Banyan
Location: 83 Jalan Sendudok (District 27)
Lease: 999-years
Developer: Floridale Pte. Ltd.
Completion: 2005
Number of units: 18
Average price: $893 psf
Profitable transactions: 23
Unprofitable transactions: 0
Summary:
Yes, you read that average price right.
Despite being a 999-year boutique development with just 18 units, the prices at D’Banyan are far from over-the-top. In fact in January this year, a 1,098 sq. ft. unit transacted for $980,000.
The smallest single-bedders (570 sq.ft.) transacted at prices as low as $640,000, back in November 2021.
The main criticism is going to be the location. We’d be the first to admit Canberra is a bit of an “ulu” area; but given this condo is just seven minutes from Canberra MRT, going elsewhere for your needs won’t be too difficult.
Sembawang Shopping Centre is also just six minutes way by foot, and there’s a Giant hypermarket there, along with a Watsons. There’s also a restaurant right next door (Happy Village).
There will also be a further rise in average prices in the area in future when The Commodore at The Watergardens at Canberra is launched. Both launched at prices of around $1,400 psf, and have seen good demand since.
3. Eight Courtyards
Location: 12 Canberra Drive (District 27)
Lease: 99-years
Developer: Yishun Gold Pte. Ltd.
Completion: 2014
Number of units: 654
Average price: $1,172 psf
Profitable transactions: 197
Unprofitable transactions: 6
Summary:
Eight Courtyards is in a broadly comparable location to D’Banyan above. However it’s further from Canberra MRT station, at 10 minutes on foot. Sembawang Shopping Centre is also sadly out of walking distance, but it’s just around a five-minute drive.
That said, Eight Courtyards also offers units at an affordable price point; and this is likely to go up with the demand in the area. In January this year, for example, a 1,087 sq. ft. unit transacted at $1.17 million, while the latest transaction of an 861 sq. ft. unit was just $935,000. This is probably due to the launch prices of The Watergardens at Canberra and The Commodore, as they would have helped frame some of the prices in the area for homebuyers.
Buyers who are in it for the long haul, and can wait for Canberra’s maturation, can still get in on the ground floor here. Again, it’s plausible that recent launches in the area have prompted searches that uncovered condos like Eight Courtyards and D’Banyan as alternatives.
West Region Condos
The top three performers in the west region are:
- Parc Riviera
- The Clement Canopy
- Twin VEW
1. Parc Riviera
Location: 101 West Coast Vale (District 05)
Lease: 99-years
Developer: El Development (West Coast) Pte. Ltd.
Completion: 2019
Number of units: 752
Average price: $1,481 psf
Profitable transactions: 130
Unprofitable transactions: 0
Summary:
Parc Riviera is more conveniently located than the maps would suggest. Although there’s no MRT station nearby, there’s a bus stop near the neighbouring The Infiniti.
This provides a direct bus to the heart of the Clementi area, where you’ll find Clementi Mall (and the attached MRT station, on the East West Line). This is one of the largest heartland malls in the area, so you’ll find most of what you need here. Still, we suppose most buyers would be attracted more to the less build-up nature and would own a car anyway, as the launch prices would no doubt have reflected.
The surroundings are not heavily built up, despite there being other condos nearby; and there’s good access to the greenery of Pandan Garden. This also provides a good scenic view, one overlooking the Pandan River.
As recently as February this year, there was a 1,152 sq. ft. unit that transacted at $1.618 million; and units of close to 1,000 sq. ft. can be as low as around $1.428 million.
That said, while on record there have been zero unprofitable transactions so far, it’s worth noting that about 10 per cent of them may probably just broken even or even registering a slight loss if you were to account for transaction and selling costs.
2. The Clement Canopy
Location: 16 Clementi Avenue (District 05)
Lease: 99-years
Developer: United Venture Development (Clementi) Pte. Ltd.
Completion: 2019
Number of units: 505
Average price: $1,663 psf
Profitable transactions: 47
Unprofitable transactions: 0
Summary:
The main selling point of The Clement Canopy is the nearby schools. The prestigious NUS High School of Mathematics and Science is practically next door to The Clement Canopy, while the much-respected Nan Hua High is a four-minute walk away.
Pei Tong Primary and New Town Secondary are both in priority enrolment range, although they’re not in comfortable walking distance.
For amenities, West Coast Plaza is a bit far to walk (12 minutes if you want to go on foot, but half that time if you cycle). There is a Cold Storage here though. Otherwise, Clementi Mall – the major retail hub of the neighbourhood – is an eight-minute drive away.
As there’s no MRT in walking distance though, residents should be prepared to drive or use the bus.
It does follow the same theme as other UOL projects featured here like Principal Garden and Botanique at Bartley, with good landscaping, and unit layouts, and launched in a similar era. The Clement Canopy has been a thorough success so far, with even the lowest profitable unit registering a 6 digit gross profit.
3. Twin VEW
Location: 91 West Coast Vale (District 05)
Lease: 99-years
Developer: CSC Land Group (S) Pte. Ltd.
Completion: 2021
Number of units: 520
Average price: $1,604 psf
Profitable transactions: 43
Unprofitable transactions: 0
Summary:
We have a full review of Twin Vew on Stacked.
Twin VEW is still fresh in the memory for most market watchers, and it was completed just last year. And yet already 43 units have transacted at a profit – the most recent transaction, of a 1,518 sq. ft. unit in March, was at $2.4 million.
Twin VEW is for homeowners who like to be a bit far apart from the concrete jungle. It’s at a distance from the more traffic-laden heart of Clementi, though at the cost of not having an MRT station within walking distance.
Driving down to the retail hotspots, such as Clementi Mall and IMM, will take around eight to 10 minutes.
The highlight of the project is the generally efficient layout, which makes it feel more spacious than larger condos; and the above-ground gardens and swimming pool are some of the best we’ve seen to date.
Just make sure you’re okay with having to go out often, even for most day-to-day amenities. There is a FairPrice Xpress on site now (and even a Swiss butchery), which is certainly a huge help for residents!
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