Whether it’s a legacy or a retirement plan, the motive to buy private housing can often be the return on investment. We know that, for some owner-investors, it’s less about a nice view and a pool; and more about having a retirement asset (or something for the children).
And so while we’ve showcased the most profitable condos by transactions from 1995, we’ve found a few others that missed the cut but were very profitable from an average quantum standpoint.
Table Of Contents
How the data was derived
Every transaction is defined as a buy and a sell event which leads to 3 outcomes: a loss, breakeven, or a profit. For this list, we looked at transactions where the sell event took place since 2012.
We also took into consideration only projects that were completed in 2012 based on URA’s transaction database. The reason for doing so is to avoid including transactions from very old developments where buyers held for a long period of time. In most analyses where the biggest gains are looked at, old developments tend to stand out due to the buyer’s longer holding period.
We also excluded those where there were less than 10 transactions overall to get rid of developments that may show up due to exceptions.
We then selected those with the top profit margins (20-40+%) and those that also had a high average quantum gain ($300-$400+K).
Disclaimer: These are based on actual transactions, not $PSF changes. There are many reasons why these developments have done well and the study does not isolate them.
Without further ado, here are 7 lesser-known developments that stood out over the last decade for their profitability.
1. Luxe Ville
Location: 336 Pasir Panjang Road (District 5)
Developer: JBE Development Pte. Ltd.
Lease: Freehold
Completion: 2012
Number of units: 50
Average gain: 45.87%/$468,624
Average price (April 2022): $1,218 psf
Profitable transactions: 18
Unprofitable transactions: 0
Main highlights:
For just 50 units, the gains at Luxe Ville are pretty stunning so far – all transactions barring one have made 6 figures in gross gains, with the highest just a shy over $800k. At an average of $468,624 in terms of absolute gains as well, this is impressive considering the overall prices too.
Luxe Ville’s most notable advantage is its proximity to NUS. It’s within a nine-minute walk to one part of the NUS campus: the NUS Business School and School of Computing.
It’s also benefitted from the development of the One-North tech and media hub, and the presence of malls like The Star Vista at Buona Vista. These are within an eight-minute drive.
The development overlooks a landed area across the road, and is a good pick for those who prefer living near low-density enclaves. However, do note that some of the units are pressed up a little close to Pasir Panjang Road.
There’s a place of worship across the road, but we’re told that noise and traffic are still low on worship days (you may want to view units on a Sunday to be sure). You can also walk to West Coast Park, although this is the quieter end of things – the popular area with multiple playgrounds and a McDonalds is a good distance away.
It’s definitely an area that is far from dense, though you are a 12-minute walk away from the nearest MRT station – Haw Par Villa on the Circle line.
2. 8 @ Woodleigh
Location: 2 Woodleigh Close (District 13)
Developer: FCL Homes Pte. Ltd.
Lease: 99-years
Completion: 2012
Number of units: 330
Average gain: 47.02%/$383,646
Average price (April 2022): $1,548 psf
Profitable transactions: 160
Unprofitable transactions: 10
Main highlights:
With 330 units, there have been quite a number of transactions since 2012, with 160 profitable and just 10 unprofitable ones.
This condo has good accessibility, being just a five-minute walk from Woodleigh MRT station (North East Line). It’s also close to the St. Andrews’ Village educational cluster, with St. Andrew’s Junior, St. Andrew’s Secondary, etc. This is within 720 metres, or a four-minute drive. We suppose walking is possible for fit and young students, at around 13 minutes.
You’ll have to venture out for entertainment and more retail choices; but the Poiz is within a six to eight minutes walk. You can find a Guardian, Watson, and an NTUC FairPrice here.
A closer option would be the upcoming The Woodleigh Mall which will have 28,000 sqm of commercial space (supermarket, integrated food retail, food hall, and F&B dining concepts).
3. Double Bay Residences
Location: 19B Simei Street (District 18)
Developer: Secure Venture Development (Simei) Pte. Ltd.
Lease: 99-years
Completion: 2012
Number of units: 646
Average gain: 43.23%/$376,491
Average price (April 2022): $1,131 psf
Profitable transactions: 271
Unprofitable transactions: 19
Main highlights:
Double Bay Residences offers sizeable units, at a price point that’s quite attractive to HDB upgraders. This is one of the places where 1,200+ sq. ft. units can still transact at below $1.4 million, despite being just around 10 years old.
Proximity to the MRT station is very walkable, at just about a 6-minute walk. Eastpoint Mall, the closest source of amenities, is also next to the Simei MRT station.
Double Bay Residences is close to the Simei Park Connector (you can walk all the way to Bedok Reservoir via the Sungei Bedok), and the stretch along Harvey Avenue (across from the MRT tracks) is a landed enclave. While this could make for a nice, peaceful enclave, you need to be picky about the stack: so long as you avoid the ones next to the elevated MRT track, it’s pretty quiet.
The main appeal will be to those working in Changi Business City, or landlords who want to cater to tenants in that area. It’s only a four-minute drive from here, and Changi Airport can be less than 10 minutes drive even in heavy traffic.
4. St. Patrick’s Residences
Location: 60 St. Patrick’s Road (District 15)
Developer: T G (St. Patrick’s) Pte. Ltd.
Lease: Freehold
Completion: 2013
Number of units: 102
Average gain: 39.9%/$527,618
Average price (April 2022): $1,369 psf
Profitable transactions: 38
Unprofitable transactions: 3
Main highlights:
St. Patrick’s Residences has seen renewed interest thanks to the Marine Terrace MRT (Thomson-East Coast Line), due up in 2023. It will now be just right outside the development, which up till now had residents dependent on cars or buses.
The project is close to the Katong lifestyle stretch, near i12 Katong. While it’s not within walking distance, the bus stop right outside has services that can get you there in under 10 minutes (or just drive about five minutes).
The surroundings are mostly landed housing, making this an ideal project for families that want a low-density area. St Patrick’s Secondary is also close by, as you can guess from the name – it’s an eight-minute walk, and there is a NAFA Arts Kindergarten across the road from the school. Tao Nan School is also within walking distance, at around nine minutes away.
At an average of more than half a million in gross profits, the amount that some owners have made here is truly quite stunning to see.
5. Waterfront Key
Location: 770 Bedok Reservoir Road (District 16)
Developer: FCL Peak Pte. Ltd.
Lease: 99-years
Completion: 2012
Number of units: 437
Average gain: 35.82%/$340,095
Average price (April 2022): $1,265 psf
Profitable transactions: 174
Unprofitable transactions: 8
Main highlights:
It’s not hard to see the reason why gains have been so high for Waterfront Key: it’s the presence of Bedok Reservoir MRT Station (Downtown Line), which is within a six-minute walk.
Prior to this, the main drawback of Waterfront Key was its lack of MRT access.
Waterfront Key is equidistant from Bedok Reservoir, and Bedok Town Park – it offers greenery on both sides of the condo, which is something quite rare to find yet in an accessible location. Bedok Reservoir is a family lifestyle hub, with activities from water sports to treetop obstacle courses. This makes it a solid family-friendly location; especially for those who prefer outdoor activities to malls.
For those who cycle, note that the famous Bedok 85 market is only around six minutes away; and we’re told it’s actually faster to cycle there than use a car (not least because parking spaces are hard to find).
For serious retail though, you’d probably drive – or take a bus right outside – to Bedok Mall.
Mind you, families who like the bustle of malls, cinemas, etc. might find a Bedok Reservoir location to be on the dull side.
6. Meadows @ Peirce
Location: 626 Upper Thomson Road (District 26)
Developer: UOL Development Pte. Ltd.
Lease: Freehold
Completion: 2012
Number of units: 479
Average gain: 23.29%/$317,780
Average price (April 2022): $1,351 psf
Profitable transactions: 202
Unprofitable transactions: 5
Main highlights:
Meadows @ Peirce is a bit pricey for the average HDB upgrader, with 1,500+ sq. ft. family units often breaking the $2 million mark. However, this is largely what you’d expect from an exclusive low-density area. The land size here is huge for 479 units, at 460,986 square feet of space. Units here are also large in size, with at least 67 units here that are bigger than 2,000 sq. ft. – but these do come with sizeable outdoor space.
Meadows is across the road from Thomson Nature Park, which is a haven for nature lovers. On the other side of the condo is Teachers’ Housing Estate, a landed housing enclave with quite a bit of history.
For cyclists who love the green trails, note that you can also cycle down to Lower Pierce Reservoir from here in as little as six minutes.
As is typical of low-density areas, there’s no mall or MRT station nearby, even despite the recent addition of the Thomson East Coast line. This isn’t really a drawback to the buyers who like these types of properties though: part of the point is the privacy and exclusivity.
7. Caspian
Location: Lakeside Drive (District 22)
Developer: Yishun Land Pte. Ltd.
Lease: 99-years
Completion: 2012
Number of units: 712
Average gain: 56.07%/$424,765
Average price (April 2022): $1,226 psf
Profitable transactions: 288
Unprofitable transactions: 9
Main highlights:
Caspian is a condo that is about 10 years old, with a total of 712 units.
It’s got an impressive average gain of 56%, with each unit making about $424,765 on average as well – which is definitely a great performer.
Location wise, while you are surrounded by neighbouring condos, it is a very short walk to Lakeside MRT station, which is just one stop away from Boon Lay, where Jurong Point should serve most needs. If you are after even more variety, Jurong East is just two stops away as well, with the collection of malls there (Westgate, JEM, and J Cube) being more than sufficient to never need to head down to town.
With Jurong Lake just next door as well, this represents a great spot for those who love nature. The Chinese Garden and Japanese Garden will be revamped as well, so there is a lot to look forward to in the area.
And as we’ve mentioned before, The Jurong Lake District (JLD) will be the largest mixed-use business district outside the city centre.
There are plans to offer more offices, housing, amenities, and lush green spaces, so the space will be quite a bit different in the future. However, do take note that the full potential of JLD will likely be beyond 2030.
For more curated property picks and information, follow us on Stacked. We also provide in-depth reviews of new and resale units alike, so you can make a better-informed choice.
At Stacked, we like to look beyond the headlines and surface-level numbers, and focus on how things play out in the real world.
If you’d like to discuss how this applies to your own circumstances, you can reach out for a one-to-one consultation here.
And if you simply have a question or want to share a thought, feel free to write to us at stories@stackedhomes.com — we read every message.
Frequently asked questions
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