Why One-North Is A Property Mystery To Me
The strangest neighbourhood in Singapore is One-North, not Yishun.
I’m serious. Whenever someone asks about One-North properties, their prospects, their performance, etc. I’m at a total loss. Yishun “mysteries” are just odd crimes that eventually get explained on Mothership or something. But One-North is a property mystery: this is a major tech and media hub, built to attract talent from all around the world. A lot of money has been funnelled into it, to turn it into a new hotspot; something that should be easy, given its proximity to Holland Village and Buona Vista.
And yet, dear reader, let me ask you this: When was the last time someone told you “Hey, let’s go to One-North?”
Sure, the amenities are still developing; but nowhere has the development been stranger or more staggered over the years.
For example, when One-North first became a new designated “hub,” there was actually a lack of residential accommodation. Here’s some news from way back in 2015, when the 405-unit One-North Residences was more or less the only choice in the immediate area. Fair enough, at the time it was mainly industrial and tech; but it was only around 2021 and 2023 when One-North Eden and Blossoms By the Park were launched, to raise the existing supply.
(There’s also a land parcel at Media Circle where a new condo, The Hill @ One-North, is coming up, along with the recently announced Bloomsbury Residences.)
But consider how long it took for residential projects to appear there. Remember One-North isn’t just Fusionopolis, Biopolis, etc. The MediaCorp Campus, the JTC LaunchPad, and institutions like ESSEC and INSEAD are also there. It’s almost as if the residential component was deliberately made to lag behind it a little bit.
But fine, that confusing period is now done, there are residential projects. Which leads to yet another puzzling issue – the subdued nature of One-North
At least Timbre + tried. But for the most part, One-North looks a bit like the CBD on the weekends: there are relatively few events (at least, none that draw a big crowd), the restaurants here are not especially packed, and if there’s any shopping the residents are doing it on their phones.
I understand it’s mainly tech and industrial, but if you visit you’ll see the effort. Timbre + brought live performances, the restaurants were decently enticing (some hipster joints for sure), and – at least when I worked there – there were several interesting pubs and (short-lived) shops. But nothing seems to really catch on; so perhaps nearby Holland V is just stealing the activity, rather than spreading it.
Or as one resident there insisted to me, it’s because people in the tech industry prefer staying home and interacting online – so any nightlife attempts at One-North are doomed.
In any case, because of all this, property in One-North has always been a bit hard to read. The fundamentals tick all of the boxes: a large pool of prospective tenants, a fairly affluent base of residents, at one point demand outstripping supply, etc. And yet, it feels that every time we talk about One-North property, we’re using the words “soon” and “around the corner.”
Meanwhile in other property news…
- You may have heard that, if you’re dead certain you’ll be upgrading to a condo, you should start from a resale 3-room flat. But what’s the basis of that logic? We checked it out here.
- Recently renovated million-dollar flats that are near MRT stations! If you have the budget, or are right-sizing from a condo and have the means, these are some of the best flats you can find.
- Ponggol Seventeenth Avenue (Yes, the street sign spells Punggol it that way, and also spells out the “seventeenth”) is the location of TJ’s latest walkabout. Have a look at where the properties range from a whopping $6 million.
- There are some misconceptions about the property market out there right now, and here are some of the ones to watch for in 2025.
Weekly Sales Roundup (10 March – 16 March)
Top 5 Most Expensive New Sales (By Project)
| PROJECT NAME | PRICE S$ | AREA (SQFT) | $PSF | TENURE |
| WATTEN HOUSE | $6,213,000 | 1851 | $3,356 | FH |
| THE RESERVE RESIDENCES | $4,954,021 | 1894 | $2,615 | 99 years |
| MEYER BLUE | $4,883,000 | 1528 | $3,195 | FH |
| NAVA GROVE | $4,487,800 | 1722 | $2,606 | 99 yrs (2024) |
| AUREA | $4,267,850 | 1442 | $2,959 | 99 years |
Top 5 Cheapest New Sales (By Project)
| PROJECT NAME | PRICE S$ | AREA (SQFT) | $PSF | TENURE |
| LENTOR CENTRAL RESIDENCES | $1,071,000 | 463 | $2,314 | 99 years |
| PARKTOWN RESIDENCE | $1,225,000 | 506 | $2,421 | 99 yrs (2023) |
| NORTH GAIA | $1,298,000 | 980 | $1,325 | 99 yrs (2021) |
| NOVO PLACE | $1,409,000 | 872 | $1,616 | 99 yrs (2023) |
| AURELLE OF TAMPINES | $1,438,000 | 840 | $1,713 | 99 years |
Top 5 Most Expensive Resale
| PROJECT NAME | PRICE S$ | AREA (SQFT) | $PSF | TENURE |
| FOUR SEASONS PARK | $7,500,000 | 2260 | $3,318 | FH |
| YONG AN PARK | $7,280,000 | 3111 | $2,340 | FH |
| VOLARI | $5,850,000 | 2174 | $2,690 | FH |
| CAIRNHILL CREST | $5,500,000 | 2508 | $2,193 | FH |
| ST REGIS RESIDENCES SINGAPORE | $5,360,000 | 2142 | $2,502 | 999 yrs (1995) |
Top 5 Cheapest Resale
| PROJECT NAME | PRICE S$ | AREA (SQFT) | $PSF | TENURE |
| SUNSHINE LOFT | $662,000 | 366 | $1,809 | FH |
| SIXTEEN35 RESIDENCES | $710,000 | 463 | $1,534 | 99 yrs (2018) |
| KANDIS RESIDENCE | $715,000 | 484 | $1,476 | 99 yrs (2016) |
| THE MILTONIA RESIDENCES | $726,000 | 517 | $1,405 | 99 yrs (2010) |
| Q BAY RESIDENCES | $738,888 | 527 | $1,401 | 99 yrs (2012) |
Top 5 Biggest Winners
| PROJECT NAME | PRICE S$ | AREA (SQFT) | $PSF | RETURNS | HOLDING PERIOD |
| FOUR SEASONS PARK | $7,500,000 | 2260 | $3,318 | $4,000,000 | 19 Years |
| SOMMERVILLE PARK | $3,450,000 | 1615 | $2,137 | $2,212,500 | 18 Years |
| TRIBECA | $4,930,000 | 1905 | $2,588 | $1,863,240 | 18 Years |
| HUNDRED PALMS RESIDENCES | $3,058,888 | 1528 | $2,001 | $1,737,888 | 8 Years |
| THE STELLAR | $2,588,000 | 1485 | $1,742 | $1,708,000 | 19 Years |
Top 5 Biggest Losers
| PROJECT NAME | PRICE S$ | AREA (SQFT) | $PSF | RETURNS | HOLDING PERIOD |
| SEASCAPE | $4,600,000 | 2680 | $1,716 | -$2,668,000 | 15 Years |
| ST REGIS RESIDENCES SINGAPORE | $5,360,000 | 2142 | $2,502 | -$1,601,500 | 17 Years |
| MARINA ONE RESIDENCES | $3,430,000 | 1582 | $2,168 | -$422,724 | 5 Years |
| HOCK MANSION | $1,975,000 | 1615 | $1,223 | -$205,000 | 5 Years |
| FOURTH AVENUE RESIDENCES | $1,090,000 | 484 | $2,250 | -$85,000 | 4 Years |
Transaction Breakdown
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