Is Parktown Residence A Good Buy? A Detailed Pricing Review Against Other Integrated Developments 

19 min read

As we’ve said in our full review, Parktown Residence will be the first integrated development in Tampines, featuring a retail mall, direct MRT access, a new bus interchange, and a community hub. This marks a milestone for the area, which is still undergoing transformation, positioning Parktown Residence as a key focal point in the district’s long-term growth. 

However, while the convenience of an integrated development is undeniable, the question is how much of a premium should an integrated development command is what would be on most buyer’s minds. To determine that, we’d have to look at Parktown Residence’s price point in comparison to other integrated developments, nearby resale condos, and the new launch market. In this Parktown Residence pricing review, we will cover:

1. Parktown Residence Indicative Pricing
2. The land price and where it stands in the past 2 years
3. Who the target audience for Parktown Residence is
4. What the price premium is, and whether it makes sense
5. The competition in the surrounding area
6. How it compares against other available new launches today

Parktown Residence Indicative Pricing

Type	Size	Price	$PSF
1+Study	463	$1,070,000	$2,311
2 Bedroom	592	$1,330,000	$2,247
3 Bedroom	926	$2,070,000	$2,235
4 Bedroom	1335	$2,850,000	$2,135
5 Bedroom	1679	$3,780,000	$2,251

From the indicative prices, you can see that the 1+Study unit is priced just above the $1 million mark. The 2-bedroom units are slightly higher, starting at $1.33 million, while 3-bedroom units begin at just over $2 million. These price points set the stage for a premium positioning in the market, particularly given the integrated nature of the development and the fact that it’s in a less developed part of Tampines.

The starting $PSF ranges from $2,135 to $2,311. Given the progressive staging of prices, we estimate an average $PSF of around $2,300 – $2,400, depending on unit size and floor level. This pricing is in line with other integrated developments but notably higher than non-integrated projects in the same region. The premium pricing reflects the convenience and amenities that come with integrated developments, but it also raises the question of whether buyers are willing to pay a higher price for this added convenience.

To give buyers a clearer picture of potential price movements, we have included a pricing matrix that outlines what unit prices could look like at different $PSF levels ranging from $2,000 to $2,800. This helps illustrate the impact of varying price points on affordability across different unit types.

Bedroom Type	1+Study	2 Bedroom	3 Bedroom	4 Bedroom	5 Bedroom
$PSF	463 Sq Ft	592 Sq Ft	926 Sq Ft	1,335 Sq Ft	1,679 Sq Ft
$2,000	$926,000	$1,184,000	$1,852,000	$2,670,000	$3,358,000
$2,100	$972,300	$1,243,200	$1,944,600	$2,803,500	$3,525,900
$2,200	$1,018,600	$1,302,400	$2,037,200	$2,937,000	$3,693,800
$2,300	$1,064,900	$1,361,600	$2,129,800	$3,070,500	$3,861,700
$2,400	$1,111,200	$1,420,800	$2,222,400	$3,204,000	$4,029,600
$2,500	$1,157,500	$1,480,000	$2,315,000	$3,337,500	$4,197,500
$2,600	$1,203,800	$1,539,200	$2,407,600	$3,471,000	$4,365,400
$2,700	$1,250,100	$1,598,400	$2,500,200	$3,604,500	$4,533,300
$2,800	$1,296,400	$1,657,600	$2,592,800	$3,738,000	$4,701,200

At $2,400 PSF, prices do look within reasonable expectations for an integrated development, especially in today’s new launch backdrop in 2025.

While Parktown Residence is situated in the less mature Tampines North area, its direct connectivity to a mall and an MRT station significantly enhances its attractiveness. This level of convenience could help buyers justify its pricing.

Additionally, the developer acquired the land at $885 PSF per plot ratio (ppr), making it one of the lowest land costs secured in the past two years for an Integrated Development.

This relatively lower land acquisition cost suggests that the developer has more flexibility in pricing units competitively compared to other recent launches that had higher land costs. However, we do have to add that Integrated Developments typically come with higher construction costs as well – as compared to regular condo projects.

Date of Award	Location	GFA(m2)	Successful Tender Price	$PSF PPR
21/02/2024	Orchard Boulevard	24,610	$428,280,980	$1,617
11/07/2023	Marina Gardens Lane	68,573	$1,034,480,000	$1,402
15/11/2023	Lorong 1 Toa Payoh	66,121	$968,000,000	$1,360
27/06/2024	River Valley Green (Parcel A)	32,527	$463,999,999	$1,325
07/08/2024	Zion Road (Parcel B)	52,002	$730,088,888	$1,304
20/05/2024	Holland Drive	58,224	$805,390,000	$1,285
15/11/2023	Clementi Avenue 1	47,079	$633,447,945	$1,250
15/11/2023	Pine Grove (Parcel B)	52,583	$692,388,000	$1,223
16/04/2024	Zion Road (Parcel A)	85,557	$1,106,888,000	$1,202
08/02/2024	Media Circle	30,834	$395,288,889	$1,191
07/08/2024	Margaret Drive	39,994	$497,000,000	$1,154
10/08/2023	Jalan Tembusu	72,003	$828,800,000	$1,069
21/01/2025	Dairy Farm Walk	45,951	$504,515,000	$1,020
10/10/2024	Tampines Street 94	61834	$668,280,000	$1,004
13/04/2023	Lentor Gardens	45,921	$486,800,222	$985
18/09/2023	Lentor Central	41,169	$435,166,426	$982
16/04/2024	Upper Thomson Road (Parcel B)	80,060	$779,555,000	$905
18/09/2023	Champions Way	30,309	$294,889,000	$904
26/11/2024	Faber Walk	36,114	$349,857,988	$900
11/07/2023	Tampines Avenue 11	126700	$1,206,390,880	$885
07/08/2024	De Souza Avenue	30,793	$278,900,000	$841
21/01/2025	Tengah Garden Avenue	76,376	$675,000,000	$821
07/08/2024	Canberra Crescent	32,698	$279,000,800	$793
20/06/2023	Parry Avenue	18,077	$71,988,000	$370

Another thing we should point out is the purchase of the Government Land Sale (GLS) site at Tampines Street 94 for $1,004 PSF PPR. This site is located right next to Tampines West MRT on the Downtown Line and would have an underground connection straight to the MRT. Additionally, the site includes a commercial component, meaning it is not entirely residential and will provide added convenience for residents with amenities at their doorstep.

Since Parktown Residence was purchased at a lower land rate and is launching first, there is a strong likelihood that the Tampines Street 94 site will be priced higher when it launches. This bodes well for Parktown Residence, as a higher-priced future development nearby could provide price support and long-term appreciation potential – provided the market accepts Parktown Residence’s initial pricing.

Who is the target audience?

Given its integrated nature, Parktown Residence would be especially appealing to those seeking the ultimate convenience of living. These could be buyers just looking for a more affordable and new Integrated Development. However, the primary target audience for Parktown Residence is likely to be HDB upgraders in the area who are looking to transition from their HDB to a private condo while still benefiting from living in the same neighbourhood and convenience.

HDB Town	Land Area (Hectares) Total	Land Area (Hectares) Residential	Dwelling Units Under Management as at 31 March 2024	Projected Ultimate
Ang Mo Kio	825	303	51,309	66,000
Bedok	996	440	64,415	96,000
Bishan	690	172	19,676	34,000
Bukit Batok	785	291	46,982	56,000
Bukit Merah	858	312	54,153	68,000
Bukit Panjang	489	219	37,098	44,000
Choa Chu Kang	612	320	50,171	66,000
Clementi	412	203	29,709	39,000
Geylang	678	214	34,306	50,000
Hougang	1309	367	57,557	72,000
Jurong East	384	165	24,122	33,000
Jurong West	987	480	76,580	94,000
Kallang/ Whampoa	852	246	40,580	74,000
Pasir Ris	601	318	29,654	44,000
Punggol	957	374	60,833	96,000
Queenstown	858	227	32,991	63,000
Sembawang	708	331	30,330	65,000
Sengkang	1055	397	76,265	96,000
Serangoon	737	163	21,631	30,000
Tampines	1200	549	82,465	110,000
Tengah	740	165	4,260	42,000
Toa Payoh (includes Bidadari)	556	248	44,868	61,000
Woodlands	1262	486	71,947	102,000
Yishun	778	398	69,601	84,000
Other Estates		126	22,412	25,000

Source: HDB Annual Report 23/24

Tampines has the highest number of dwelling units among Singapore’s HDB estates, which means there is a potential pool of buyers for developments like Parktown Residence. The development’s location within this estate provides some context for future demand, though it is important to note that actual demand will depend on various factors.

The integrated nature of Parktown Residence, with its amenities such as a retail mall and MRT access, adds convenience for residents, which could make it appealing to buyers looking for both private living and easy access to facilities. This is a relevant factor in its market positioning.

For HDB upgraders, the demand will likely be focused on larger units, such as 3-bedroom apartments and above, as many families typically seek at least 3 bedrooms when upgrading from a 4- or 5-room flat.

Tampines also has several newer HDB flats, particularly those built around 2020, which will start to reach their Minimum Occupation Period (MOP) over the next few years. As these units become available for resale, there may be some overlap in demand with developments like Parktown Residence, though how many will consider upgrading is uncertain. In total, around 16,000 HDB units built since 2020 could see their MOP in the coming years.

But here’s something peculiar about the unit mix on offer: Parktown Residence offers a range of unit types, but the distribution may not align with the typical HDB Upgrader segment.

Why Parktown Residence’s unit mix is interesting

Bedroom Type	Unit Type	No. of Units	Size (sq ft)	Unit Breakdown
1-Bedroom + Study	AS1/ AS2/ AS3/ AS4	73	463 / 506 sq ft	6.10%
2-Bedroom	B1/ B2/ B2(p)/ B3	160	592 sq ft	49.10%
2-Bedroom Premium	BP1/ BP1(p)/ BP2/ BP2 (p)/ BP3 / BP3 (p)/ BP4 / BP4(p)/ BP5	292	678 / 721 sq ft
2-Bedroom + Study	BPS1 / BPS1 (p) / BPS2	134	764 sq ft
3-Bedroom	C1/ C2/ C3/ C4/ C5	135	926 / 936 / 947 sq ft	34.20%
3-Bedroom Premium	CP1 / CP1 (p) /	158	1,055 / 1,066 / 1,076 sq ft
3-Bedroom Premium + Study	CPS1/ CPS1(p) / CPS2 / CPS2 (p) / CPS3 / CPS3 (p) / CPS4 / CPS5	115	1,163 / 1,173 / 1,184 sq ft
4-Bedroom	D1 / D1(p) / D2 / D2(p) / D3 / D3(p) / D4 / D4(p)	57	1,335 / 1,345 / 1,356 sq ft	8.70%
4-Bedroom Premium	DP1 / DP1 (p) / DP2 / D2P (p)	47	1,485 / 1,496 sq ft
5-Bedroom	E1 / E1 (p)	22	1,679 sq ft	1.80%

From the table, it’s clear that nearly one-third of the units at Parktown Residence are 3-bedroom units, with 44% being 3-bedroom and larger. A significant portion, 49.1%, is made up of 2-bedroom units.

This might seem unusual, as areas like Tampines typically attract HDB upgraders, and 2-bedroom units are not usually the preferred choice for families, of course, except in cases where buyers do not have children.

To assess whether this unit mix is appropriate, we can look at recently completed developments such as Treasure at Tampines, as well as other integrated projects in HDB estates, including Pasir Ris 8, Sengkang Grand Residences, and North Park Residences. These developments could provide some insight into how well a similar mix of unit types has been received in comparable markets.

Treasure at Tampines unit mix

Unit Type	Size of Units (sqft)	No. Of Units	Proportion
1-Bedroom	463 – 484 sqft	231	10.5%
2-Bedroom	581 – 614 sqft	265	12.0%
2-Bedroom Premium	657 – 678 sqft	160	7.3%
2-Bedroom + Study	678 sqft	313	14.2%
3-Bedroom	818 – 947 sqft	417	18.9%
3-Bedroom Premium	1,012 – 1,087 sqft	344	15.6%
4-Bedroom	1,238 – 1,270 sqft	176	8.0%
4-Bedroom Premium	1,281 – 1,367 sqft	187	8.5%
5-Bedroom Premium	1,668 – 1,722 sqft	110	5.0%

At Treasure at Tampines, 2-bedroom units make up 33.5% of the entire development. While this is less than half, it still represents a significant number – over 700 units. This indicates that there is demand for 2-bedroom units in a development of this size, which could offer some context when evaluating the unit mix at Parktown Residence.

Let’s take a look at how prices have moved across different bedroom types. This will provide a clearer understanding of price trends for various unit sizes and how they compare within the market.

Year	1BR	2BR	3BR	4BR	5BR
2019	$1,387	$1,374	$1,291	$1,293	$1,180
2020	$1,519	$1,418	$1,334	$1,321	$1,210
2021	$1,648	$1,505	$1,412	$1,383	$1,259
2022	$1,547	$1,592	$1,575	$1,493	$1,403
2023	$1,670	$1,657	$1,623	$1,702	$1,534
2024	$1,700	$1,689	$1,705	$1,712	$1,644
Overall Performance	22.6%	22.9%	32.1%	32.4%	39.3%

The average $PSF at Treasure at Tampines stands at $1,698. The 2-bedroom units have performed well, largely driven by overall market sentiments. However, this also suggests there is a solid demand for this bedroom type, indicating that 2-bedroom units can still attract buyers even in larger developments in OCR areas.

2 Bedroom purchases from HDB Upgraders

Approximately 64% of buyers of the 2-bedroom units at Treasure at Tampines had an HDB address, suggesting that a large majority of these buyers are HDB upgraders.

3 Bedroom purchases from HDB Upgraders

A slightly lower proportion of buyers with HDB addresses purchased a 3-bedroom unit at Treasure at Tampines. This might not be entirely surprising, as 2-bedroom units are more affordable than 3-bedroom units, making them a more accessible option, especially for those with one child or no children coming from a 3-room flat.

What this indicates is that there is demand for 2-bedroom units in Tampines. Additionally, the integrated nature of developments like these makes them more attractive to investors, as the convenience of amenities and transport links can simplify the renting process. This could explain why a higher proportion of buyers chose the 2-bedroom units.

What about other integrated developments?

You can see that the majority of units at Pasir Ris 8 were 2-bedroom units, and the development successfully sold 85% of its units over the launch weekend. At Sengkang Grand Residences, 2-bedroom units make up 35% of the total units, which is almost on par with the 3-bedroom units at 38%. Similarly, at North Park Residences, 2-bedroom units also make up the majority, though the gap between them and the 3-bedroom units is narrower.

The popularity of 2-bedroom units at Treasure at Tampines and other integrated developments is noteworthy. The integrated nature of these developments also tends to attract investors, further reinforcing the credibility of the unit mix. This could be relevant when considering Parktown Residence, as it suggests that such a balance mix of unit types can work in such developments.

Now, let’s turn our attention to the supply of existing condos in the Tampines estate. There are a couple of key questions we need to explore. First, are there any shortages of specific unit types? For instance, is there a lack of smaller units that might appeal to some HDB upgraders in the area? Secondly, what are the price trends in the resale market?

Supply of condos in the area

Project Name	Tenure	Type	Completion Year	1	2	3	4	5	Total Units
ARC AT TAMPINES	99 yrs from 22/02/2011	Executive Condominium	2014		94	368	112		574
CITYLIFE@TAMPINES	99 yrs from 13/08/2012	Executive Condominium	2016		24	315	166	9	514
PARC CENTRAL RESIDENCES	99 yrs from 22/04/2019	Executive Condominium	2024			546	122	32	700
PINEVALE	99 yrs from 31/01/1997	Executive Condominium	1999			318	4		322
Q BAY RESIDENCES	99 yrs from 21/08/2012	Condominium	2016	125	187	243	60	15	630
THE ALPS RESIDENCES	99 yrs from 03/08/2015	Condominium	2019	182	238	178	26	2	626
THE EDEN AT TAMPINES*	99 yrs from 12/09/2000	Executive Condominium	2003		27	277	104		430
THE SANTORINI	99 yrs from 16/10/2013	Condominium	2017	165	172	211	34	15	597
THE TAMPINES TRILLIANT	99 yrs from 13/07/2011	Executive Condominium	2015			524	146		670
THE TAPESTRY	99 yrs from 31/07/2017	Condominium	2021	269	294	238	45	15	861
THE TROPICA	99 yrs from 04/12/1996	Condominium	2000		60	343	134		537
TREASURE AT TAMPINES	99 yrs from 29/11/2018	Condominium	2023	231	738	761	363	110	2203
WATERVIEW	99 yrs from 16/06/2010	Condominium	2014		308	308	56	24	696
Total				972	2142	4630	1372	222	9360
Proportion				10.4%	22.9%	49.5%	14.7%	2.4%

Note that the supply here is based on information we could find and may not be fully accurate, but serves as a good enough estimate.

Overall, 3-bedroom units make up 50% of the supply in the estate. Two-thirds of the units in the area are 3 bedrooms and above, which can be attributed to the fact that around half of the projects here are Executive Condominiums.

This may help explain why both Treasure at Tampines and Parktown Residence have chosen to offer a larger proportion of 2-bedroom units. Given the success of Treasure at Tampines, where 2-bedroom units performed well, offering more 2-bedroom units could also prove to be more profitable for the developers of Parktown Residence.

Before we compare resale prices of condos around the Tampines estate, it’s important to make some adjustments to ensure a more accurate comparison. This is due to the harmonisation framework, which results in prices on a per square foot basis appearing higher, as they do not account for unlivable space like the AC ledge. To address this, we’ve discounted the existing $PSF by 6% and also added an additional $100 PSF, given that we’re working with the starting $PSF.

Type	Size	Price	$PSF	Less 6% (Adjust to Pre-Harmonisation)	Plus $100 $PSF
1+Study	463	$1,070,000	$2,311	$2,172	$2,272
2 Bedroom	592	$1,330,000	$2,247	$2,112	$2,212
3 Bedroom	926	$2,070,000	$2,235	$2,101	$2,201
4 Bedroom	1335	$2,850,000	$2,135	$2,007	$2,107
5 Bedroom	1679	$3,780,000	$2,251	$2,116	$2,216

From here, we can assume an average of around $2,200 psf (pre-harmonisation).

Project	Completed	1BR	2BR	3BR	4BR	5BR
ARC AT TAMPINES	2014		$1,363	$1,338	$1,317
CITYLIFE@TAMPINES	2016		$1,616	$1,452	$1,414
PARC CENTRAL RESIDENCES	2024			$1,575
PINEVALE	1999			$1,001	$925
Q BAY RESIDENCES	2016	$1,417	$1,418	$1,445	$1,401	$1,490
THE ALPS RESIDENCES	2019	$1,572	$1,463	$1,467
THE EDEN AT TAMPINES	2003		$1,195	$1,134	$1,158
THE SANTORINI	2017	$1,422	$1,395	$1,396	$1,367
THE TAMPINES TRILLIANT	2015			$1,517	$1,578
THE TAPESTRY	2021	$1,721	$1,664	$1,650	$1,694	$1,661
THE TROPICA	2000		$1,076	$1,277	$1,338
TREASURE AT TAMPINES	2023	$1,705	$1,689	$1,703	$1,713	$1,624
WATERVIEW	2014		$1,369	$1,463	$1,506
PARKTOWN RESIDENCE*	Est 2030	$2,272	$2,212	$2,201	$2,107	$2,216

Project	Completed	1BR	2BR	3BR	4BR	5BR
ARC AT TAMPINES	2014		$1,095,667	$1,426,098	$1,963,176
CITYLIFE@TAMPINES	2016		$1,270,000	$1,703,818	$1,986,326
PARC CENTRAL RESIDENCES	2024			$1,690,000
PINEVALE	1999			$1,338,500	$2,300,000
Q BAY RESIDENCES	2016	$782,389	$1,158,906	$1,600,800	$2,018,127	$2,550,800
THE ALPS RESIDENCES	2019	$742,815	$1,019,500	$1,478,444
THE EDEN AT TAMPINES	2003		$1,028,800	$1,430,321	$1,644,000
THE SANTORINI	2017	$732,545	$1,126,875	$1,548,736	$1,820,000
THE TAMPINES TRILLIANT	2015			$1,565,352	$2,056,000
THE TAPESTRY	2021	$782,329	$1,055,824	$1,705,513	$2,493,472	$2,932,500
THE TROPICA	2000		$1,065,000	$1,555,750	$2,031,000
TREASURE AT TAMPINES	2023	$798,181	$1,092,078	$1,626,930	$2,195,441	$2,785,000
WATERVIEW	2014		$1,188,455	$1,682,583	$1,954,722
PARKTOWN RESIDENCE**	Est 2030	$1,064,900	$1,361,600	$2,129,800	$3,070,500	$3,861,700

**Here, we’ve assumed an average of $2,300 PSF as we multiplied it by the size that excludes the AC ledge. Therefore, we cannot apply our pre-harmonisation assumption in this case.

From the prices in the area, Parktown Residence will not only set a $PSF precedent but also influence overall pricing trends. Currently, 1-bedroom units in Tampines are priced below $1 million. For example, an 8th-floor, 463 sq ft 1-bedroom at Treasure at Tampines recently sold for just $790k. This pattern extends across other unit types as well. While it’s not unusual in the new launch market to see 3-bedroom units priced above $2 million, it’s important to recognise that HDB upgraders in the vicinity have alternative options.

These alternatives may not offer the same level of convenience as Parktown Residence, but the key question remains: are upgraders willing to pay the premium for this added convenience?

To better understand the potential market response, let’s take a look at three other HDB estates that have seen integrated developments in recent years and analyse how they’ve performed.

Next, we’ll examine the pricing of more recent Integrated Developments in 2024.

*Estimated $PSF only (pre-harmonisation)

At an estimated average of $2,200 PSF (pre-harmonisation), Parktown Residence would be approximately 20% more expensive than the Integrated Development in the adjacent estate, which isn’t significantly older either. Some buyers may view this as too steep a premium, while others who are set on staying in Tampines might consider it acceptable. Ultimately, it boils down to personal preference.

To assess if such a premium can be justified, we could examine the growth over the past year to gauge how these newer Integrated Developments have performed over time. A significant price growth could indicate that the development was initially priced below market value and could have continued momentum. On the other hand, if performance was average or lacklustre, it would be harder to justify why prices should accelerate unless driven by other external factors.

Before diving into that analysis, let’s first take a look at how the broader non-landed market has moved since 2019:

Between 2019 and 2024, non-landed property prices increased by 33%. From 2021 to 2024, the rise was 24%. This Property Price Index (PPI) gives a snapshot of the broader market’s movement, indicating how much property prices have changed within the non-landed sector.

While this isn’t a direct measure of an integrated development’s performance, potential buyers looking to purchase in the broader market should be mindful of these trends, as they could offer context when considering individual projects.

Here’s how Pasir Ris 8 has performed to date

Year	1BR	2BR	3BR	4BR
2021	$1,712	$1,641	$1,503	$1,597
2022		$2,061	$1,754	$1,727
2023		$2,077	$1,794	$1,763
2024	$1,893	$1,974	$1,800	$1,754
Change	10.6%	20.3%	19.8%	9.8%

An important point to note is that Pasir Ris 8 only started selling in 2021. To date, there are just 2 sub sale transactions which both took place in 2024:

Soldon	Address	Unit area(sqft)	Sale price(S$ psf)	Boughton	Purchase price(S$ psf)	Profit(S$)	Holding period(days)	Annualised(%)
20 Nov 2024	12 Pasir Ris Drive 8 #06-27	775	1,974	24 Jul 2021	1,584	302,000	1,215	6.8
11 Oct 2024	10 Pasir Ris Drive 8 #06-12	517	1,893	24 Jul 2021	1,697	101,000	1,175	3.4

The first transaction saw an 11.5% gain over three years, falling below the market average of 24%. In contrast, the second transaction recorded a 25% gain, aligning with the market average.

While two transactions provide limited insight, it is notable that the 775 sq ft, 2-bedroom unit has appreciated in line with market expectations. In any case, it’s still too early to tell about Pasir Ris 8’s overall performance – so we will save our conclusion for later. 

Here’s how Sengkang Grand Residences performed to date

Year	1BR	2BR	3BR	4BR
2019	$1,774	$1,740	$1,695	$1,690
2020	$1,788	$1,717	$1,679	$1,676
2021	$1,786	$1,722	$1,719	$1,701
2022		$1,841	$1,808	$1,840
2023	$1,987	$2,032	$1,946	$1,927
2024	$2,012	$2,025	$2,030	$2,109
Change	13.4%	16.4%	19.8%	24.8%

Overall, the performance is more in line with what we observed — larger bedroom types have made more in terms of returns. Considering the market movements, however, the performance of Sengkang Grand Residences is not particularly impressive. This longer span of time should typically offer more meaningful returns, but in this case, it hasn’t been the case.

Considering the overall market has averaged a 33% growth from 2019 to 2024, it’s difficult to envision prices reaching the $2,200 psf mark anytime soon if Sengkang Grand Residences has struggled to meet the market average growth rate. While Parktown Residence would be a newer development, it’s also located in a relatively new part of Tampines, unlike Sengkang Grand Residences or Pasir Ris 8, both of which are situated in the more established parts of their respective estates.

If Sengkang Grand Residences and Pasir Ris 8’s performance has been relatively subdued, with both developments still about 10% or more away from $2,200 psf, it suggests that buyers entering at that price point (pre-harmonisation) might need more time for their investment to realise meaningful returns. 

Another factor to consider is the price premium that Integrated Developments command over comparable resale condos in the area. By examining this premium, we can gain insight into how Parktown Residence might perform in relation to its competitors.

However, making a direct comparison for Parktown Residence is challenging. This is because it is located in the relatively new Tampines North area. The nearest condo in the vicinity is Tenet, but it’s an Executive Condominium (EC), which belongs to a different property class and thus isn’t directly comparable. Additionally, the nearby resale condos are generally older or are also ECs, further complicating the comparison.

The most recent condominium in the estate is Treasure at Tampines, but it’s worth noting that this development is located on the south side of Tampines, away from the MRT. This could make it less relevant in terms of convenience compared to Parktown Residence. Still, for the sake of comparison, we can use Treasure at Tampines as a reference point, while being mindful of the significant difference in terms of accessibility and convenience.

How Parktown Residence compares to Treasure at Tampines

Year	Treasure At Tampines $PSF
2019	1,339
2020	1,369
2021	1,410
2022	1,540
2023	1,646
2024	1,698
2025	1,737

Above shows the average $PSF at Treasure at Tampines.

In 2025, 8 transactions have been recorded for Treasure at Tampines so far, averaging $1,737 psf. If we use a $2,200 psf (pre-harmonisation) estimate for Parktown Residence, this would place it at a 26% premium over the current market price at Treasure at Tampines.

At first glance, this might seem like a significant premium. However, it’s important to understand how this compares to other Integrated Developments in the area. By looking at the price premiums for other such developments, we can gauge whether Parktown Residence’s premium is in line with market trends or if it stands out as particularly high.

Pasir Ris 8, which is the closest Integrated Development, saw significant demand when it launched, managing to sell 85% of its units over the launch weekend.

Project	Completion	2021	2022	2023	2024	2021 Premium (%)	2021 Premium ($)
COCO PALMS	2018	$1,261	$1,359	$1,497	$1,634	28.4%	$358
D’NEST	2017	$1,165	$1,246	$1,370	$1,449	38.9%	$454
PASIR RIS 8	2026	$1,619	$1,824	$1,829	$1,837
THE PALETTE	2015	$1,140	$1,231	$1,324	$1,417	42.1%	$479

Pasir Ris 8’s first sale in 2021 showed a premium of 28.4% over nearby resale condos, which ranged from $1,140 to $1,261 per square foot. Coco Palms, the most expensive and newest resale development at the time, was in close proximity to Pasir Ris 8 and within walking distance of Pasir Ris MRT. Given that Coco Palms was only 8 years older, the premium seems significant.

Comparing this to Parktown Residence’s 26% premium over Treasure at Tampines, the numbers are fairly similar. Though Treasure at Tampines, for example, is not as close to an MRT station, making Parktown Residence’s premium look more justified.

Let’s look at the case for Sengkang Grand Residences

Project	Completion	2019	2020	2021	2022	2023	2024	2019 Premium (%)	2019 Premium ($)
SENGKANG GRAND RESIDENCES	2023	$1,747	$1,732	$1,719	$1,812	$2,001	$2,031
JEWEL @ BUANGKOK	2016	$1,302	$1,314	$1,347	$1,447	$1,625	$1,667	34.18%	$445
ESPARINA RESIDENCES	2013	$1,106	$1,099	$1,165	$1,304	$1,502	$1,622	57.96%	$641
THE QUARTZ	2009	$987	$1,003	$1,060	$1,245	$1,303	$1,375	77.00%	$760

Sengkang Grand Residences made its first sale in 2019. The newest resale condo in the area at the time was Jewel @ Buangkok, which had a 7-year gap with Sengkang Grand Residences. Jewel @ Buangkok carried a 34% premium, or a $445 psf difference, which is higher than the premium gap Parktown Residence is asking for.

Today, Sengkang Grand Residences has only seen profitable transactions. While many owners have made six-digit gains, its return on investment (ROI) is generally in line with or slightly below the overall market growth during the same period, as we’ve discussed earlier.

Finally, let’s look at North Park Residences. The only other comparable development in the area is The Wisteria.

Year	NORTH PARK RESIDENCES	THE WISTERIA
2015	$1,359
2016	$1,310	$1,095
2017	$1,319	$1,056
2018	$1,317
2019	$1,572	$1,222
2020	$1,472	$1,230
2021	$1,563	$1,214
2022	$1,654	$1,252
2023	$1,766	$1,362
2024	$1,813	$1,372

Both North Park Residences and The Wisteria obtained their TOP in 2018, and unlike the previous examples, North Park Residences launched a year earlier. When it launched, it held the record for the highest $PSF in the area, given its age and status as the only integrated development in Yishun.

When The Wisteria launched, North Park Residences was 19.6% more expensive. This premium was lower than what we saw in previous examples, but unlike the others, The Wisteria would have been a comparable age to North Park Residences.

Over time, however, the $PSF gap actually widened. Although both developments received their TOP in the same year and share a 99-year leasehold from 2015, the premium gap increased from around 20% at launch to over 30% in 2024.

While both developments have seen profits for their owners, they have lagged behind the market, especially considering they launched at the market’s bottom. The premium gap might look significant, but The Wisteria has only experienced a 12% growth in the past six years. In comparison, North Park Residences grew from an average of $1,572 to $1,813 per square foot in six years — a mere 15% gain when the overall market saw much larger increases during this period.

Given these figures, it seems that the growth potential for North Park Residences is more limited. If newer estates like Sengkang only recently saw prices of $2,000 per square foot, it will likely take some time before older developments like North Park Residences can reach that mark.

Looking at past Integrated Developments offers valuable insights into how Parktown Residence might perform in terms of pricing and capital appreciation. The premium gap that Parktown Residence is currently asking for seems reasonable when compared to the premiums seen in the three Integrated Developments we examined.

However, what stands out from these past examples is that all three of these new launches performed either at or below average in terms of capital appreciation. This highlights an important takeaway: simply being an integrated development doesn’t necessarily guarantee the best capital appreciation. While these developments are undoubtedly attractive for their convenience and lifestyle benefits – such as ease of finding tenants – the capital growth doesn’t always align with the premium they command at launch.

In fact, looking at past performance suggests that such developments might be better viewed not as a “profit-making investment,” but rather as a “lifestyle choice.” The premium on these properties is a reflection of the added convenience and amenities, which make them appealing to certain buyers, but it does not necessarily translate into faster or greater appreciation in value than a regular condo. In the case of Parktown Residence, the indicative pricing is already setting a record for the estate, much like the other Integrated Developments we compared, suggesting that it might be following a similar pattern – attracting buyers who prioritise the lifestyle benefits over quick capital gains.

The exit strategy for Parktown Residence, then, appears to be a longer-term play. Given the premium pricing compared to existing properties in the area, it may take some time for HDB upgraders to adjust to the higher price point. As a result, buyers today could face a lower-than-average return, relative to the overall market, unless they are willing to hold onto the property for a longer period and wait for market conditions to align.

Drawing a parallel to Punggol

Punggol has been back in the spotlight with the recent opening of Punggol Coast MRT, marking yet another milestone in its transformation from an area once known for farming.

When Watertown—an integrated development with 992 units—was announced, Punggol was still in its early stages of development. By the time it was completed in 2016, the estate had yet to fully take shape. It wasn’t until 2018 that the Punggol Digital District was announced, further accelerating the area’s transformation. More recently, the Punggol Coast Hawker Centre, which opened in 2024, is another addition to its evolving landscape.

How does this relate to Tampines, an already well-established estate? While Tampines itself is mature, Tampines North has remained largely undeveloped until recent years, with a wave of new HDB projects shaping the landscape. In some ways, this mirrors the early days of Watertown, where new developments played a role in driving growth and transformation in the surrounding area.

Tampines North still holds further growth potential. The reserved site (zoned in yellow) in the east, currently an eco park, presents opportunities for future redevelopment. Additionally, there are vacant industrial plots to the west that could see further development over time.

Given these similarities, it’s worth examining the premium Watertown commanded at its launch and how it has performed since.

First, let’s take a look at the transaction volume of Watertown compared to surrounding resale condos:

Year	A TREASURE TROVE	FLO RESIDENCE	PARC CENTROS	RIVER ISLES	WATERTOWN
2011	736
2012	60	500	593	530	904
2013	31	9	2	52	16
2014	4		1	3	2
2015	36	1		5	7
2016	47	21	37	18	23
2017	48	36	35	41	37
2018	48	26	33	37	57
2019	20	15	16	21	47
2020	28	22	26	27	28
2021	73	48	44	54	72
2022	41	26	38	32	74
2023	25	24	19	20	44
2024	50	35	15	31	40
Grand Total	1247	763	859	871	1351

Aside from A Treasure Trove, all the highlighted condos were launched as new developments in 2012, while A Treasure Trove was the only one sold in 2011.

Notably, the majority of units in Watertown are 1-bedroom apartments. Relying solely on average $PSF may skew the data unfavorably, as 1-bedroom units tend to underperform compared to larger units.

This is particularly relevant when comparing Watertown to Parktown Residence, where the majority of units are 2- and 3-bedrooms. To provide a more meaningful comparison, here’s a look at the transaction volume for 2-bedroom units specifically:

Year	A TREASURE TROVE	FLO RESIDENCE	PARC CENTROS	RIVER ISLES	WATERTOWN
2011	266
2012	4	88	114	58	179
2013	10	3
2014	1			1	1
2015	15	1			2
2016	20	4	4	4	1
2017	17	10	2	3
2018	19	2	5	4	11
2019	6	5	2	1	7
2020	7	5	3	3	2
2021	28	8	9	4	13
2022	18	11	14	2	12
2023	11	9	3	3	11
2024	22	4	6	4	7

Transaction volumes were high in 2011 and 2012 during the launch period, but resale activity has been significantly lower in 2024, with fewer than 10 transactions recorded across all developments—except for A Treasure Trove.

Now, let’s examine their price gains over time:

Year	A TREASURE TROVE	FLO RESIDENCE	PARC CENTROS	RIVER ISLES	WATERTOWN
2011	$936
2012	$947	$891	$1,011	$912	$1,252
2013	$700	$933
2014	$1,121			$1,009	$1,239
2015	$1,111	$1,056			$1,094
2016	$1,064	$1,033	$1,176	$992	$1,161
2017	$1,074	$962	$1,152	$992
2018	$1,097	$1,079	$1,120	$1,040	$1,312
2019	$1,074	$985	$1,208	$1,104	$1,327
2020	$1,101	$957	$1,191	$1,059	$1,232
2021	$1,156	$992	$1,199	$1,107	$1,383
2022	$1,248	$1,151	$1,286	$1,161	$1,531
2023	$1,386	$1,261	$1,404	$1,286	$1,625
2024	$1,510	$1,286	$1,526	$1,381	$1,634
ROI (2012 – 24)	60%	44%	51%	51%	31%

Here’s the volume of 3 bedders:

Year	A TREASURE TROVE	FLO RESIDENCE	PARC CENTROS	RIVER ISLES	WATERTOWN
2011	366
2012	52	304	242	266	159
2013	6	4		46	10
2014	1		1	1
2015	20			3	2
2016	22	7	16	4	5
2017	23	18	12	21	10
2018	19	21	12	18	9
2019	13	7	6	15	4
2020	11	13	12	13	8
2021	30	28	15	26	9
2022	19	12	11	21	8
2023	11	12	5	13	7
2024	25	19	6	12	5

Once again, we see a high volume of units sold at launch, but resale activity remains limited, except for A Treasure Trove.

Here’s a look at their performance over time:

Year	A TREASURE TROVE	FLO RESIDENCE	PARC CENTROS	RIVER ISLES	WATERTOWN
2011	$911
2012	$938	$836	$910	$831	$1,166
2013	$941	$819		$829	$1,401
2014	$1,028		$1,111	$818
2015	$1,077			$957	$1,099
2016	$1,023	$940	$1,061	$888	$1,133
2017	$1,009	$886	$1,054	$912	$1,272
2018	$1,103	$944	$1,123	$967	$1,382
2019	$1,118	$940	$1,140	$979	$1,394
2020	$1,140	$916	$1,120	$971	$1,399
2021	$1,179	$979	$1,197	$1,033	$1,437
2022	$1,289	$1,118	$1,343	$1,113	$1,530
2023	$1,419	$1,238	$1,385	$1,218	$1,691
2024	$1,511	$1,311	$1,525	$1,343	$1,821
ROI (2012-24)	61%	57%	68%	62%	56%

The 3-bedroom units performed better than the 2-bedders, though their gains were slightly below those of the other nearby condos—albeit not by a significant margin.

When comparing performance by unit type, Watertown’s 3-bedders were largely in line with the market, but its 2-bedders underperformed relative to similar resale condos.

While transaction volumes in 2024 remain low, they still provide some insight into how buyers who paid a premium at launch have fared over time. In this case, while Watertown has seen price appreciation, it has struggled to outperform nearby resale condos.

Nearby new Executive Condominiums – a potential challenge to the exit strategy

An important factor to consider in the area is the nearby Executive Condominiums (ECs) – Tenet and Aurelle. Both are situated to the east of Parktown Residence, not far from Parktown Mall and Tampines North MRT, making their location quite comparable. Together, these developments offer a total of 1,378 units.

With Parktown Residence slated for completion in 2029, these ECs could pose a challenge as they enter the resale market, offering potential buyers – particularly HDB upgraders – more choices at a lower price point. The more affordable cost of these ECs gives them a competitive edge, as buyers may find them more attractive when looking for resale options in the future. This highlights once again that Parktown Residence represents a longer-term investment, with buyers needing to be patient for the market to fully absorb the higher price point before seeing significant returns.

While we’ve considered its pricing in the context of past examples and existing condos, buyers focused on strictly new launches today may be more interested in how it compares to current market offerings. Here’s a quick look at the lowest prices of each development we have information on:

Project	1BR	2BR	3BR	4BR	5BR
North Gaia			$1,293,000	$1,775,000
Lumina Grand			$1,364,000	$1,846,000	$2,130,000
The Shorefront		$1,471,000	$1,739,000	$2,797,000
Kassia	$1,160,000	$1,545,000	$1,838,000	$2,522,000
The Arden			$1,854,000	$2,215,000
Jansen House		$1,511,000	$1,988,000	$2,430,000
Hillhaven		$1,616,560	$2,032,146	$2,730,234
The Myst		$1,589,000	$2,058,000	$2,841,000	$3,196,000
Parktown Residence	$1,070,000	$1,330,000	$2,070,000	$2,850,000	$3,780,000
SORA		$1,544,000	$2,094,000	$3,225,000	$3,542,000
Lentoria	$1,308,000	$1,689,000	$2,112,000	$2,700,000
ELTA	$1,160,000	$1,390,000	$2,200,000	$2,800,000	$3,890,000
The LakeGarden Residences	$1,470,000	$1,568,100	$2,240,400	$2,755,500	$3,289,600
Hill House	$1,380,000	$1,838,000	$2,250,000
Terra Hill		$1,884,000	$2,361,000	$3,469,000	$5,511,000
Sceneca Residence			$2,378,000	$3,148,000
Koon Seng House		$1,807,000	$2,387,000	$2,780,000
Hillock Green	$1,513,000	$1,592,000	$2,388,000	$2,674,000
The Arcady at Boon Keng		$1,785,000	$2,414,000	$3,701,000
Nava Grove		$1,901,000	$2,432,700	$3,180,200	$4,329,100
Grand Dunman	$1,418,000	$1,949,000	$2,471,000	$3,281,000	$3,999,000
Claydence	$1,473,600	$1,886,400	$2,528,600	$5,410,000
The Hillshore		$1,768,000	$2,588,000	$3,880,000
Chuan Park		$1,933,235	$2,625,550	$3,522,508
The Botany at Dairy Farm			$2,665,000
Pinetree Hill		$2,006,000	$2,671,000	$3,214,000	$4,364,000
Lentor Hills Residences	$1,406,000		$2,733,000
Atlassia		$3,059,028	$2,804,578
8@BT	$1,565,000	$1,881,000	$2,813,000	$3,613,000
The Continuum	$1,502,000	$1,935,000	$2,922,000	$3,388,000	$5,567,000
J’den			$2,970,000	$3,312,000
Ikigai			$3,395,974
Enchante			$3,398,700	$3,748,300
10 Evelyn	$1,431,500		$3,416,000
Midtown Bay	$1,588,000	$2,308,000	$4,714,000
Watten House			$5,038,000	$4,956,000	$7,958,000
Wallich Residence		$3,728,000	$5,288,000
The Giverny Residences			$5,497,000	$9,566,000
One Bernam			$5,765,000		$14,132,000
32 Gilstead				$13,016,000
Altura					$2,210,000
Bartley Vue		$1,725,000
Blossoms By The Park				$3,336,000
Boulevard 88		$4,811,100
Canninghill Piers	$1,712,000				$8,904,000
Cuscaden Reserve	$2,086,000
Grange 1866	$1,694,000	$2,285,000
Irwell Hill Residences				$9,452,000	$11,080,000
Lentor Mansion				$2,717,000	$3,243,000
Norwood Grand				$2,590,000
Orchard Sophia		$1,646,888
Straits at Joo Chiat				$2,196,520	$3,022,240
Tembusu Grand	$1,409,000			$3,743,000	$4,028,000
TMW Maxwell	$1,420,000	$2,404,000

Parktown Residence is priced competitively, especially for those who value convenience. For buyers seeking a new launch in the east and looking for easy access to the Downtown Line, it offers a compelling option.

Kassia, another new launch in the east, has 3-bedroom units priced at over $1.8 million. While it is more affordable than Parktown Residence, Kassia is located in a less convenient area. We’ve previously discussed this enclave here, and given the abundance of condos in the vicinity, prices in the area may remain relatively subdued.

If you’re considering 2-bedroom units, Parktown Residence stands out as one of the most competitive options. As more affordable bedroom types tend to sell out quickly, it offers a solid opportunity for buyers who may have missed out on other launches.

On the larger end, its 4-bedroom units are also well-positioned. Starting at over $2.8 million, the prices are quite comparable to Hillhaven, although Hillhaven isn’t an integrated development like Parktown Residence.

Overall, the pricing of Parktown Residence seems to be well-aligned with the new launch market.

Conclusion

In conclusion, Parktown Residence’s pricing appears to be in line with market expectations for an integrated development.

While its premium over newer condos in the area like Treasure at Tampines might initially seem high, this is not uncommon when compared to other recent integrated developments like Pasir Ris 8 and Sengkang Grand Residences.

For those looking for smaller, lower-priced units, Parktown Residence presents an opportunity, especially considering its proximity to key amenities. Larger units, though priced similarly to other developments, offer added value through the integration of retail and civic features.

If you’d like to get in touch for a more in-depth consultation, you can do so here.