In this Stacked Pro breakdown:
Do Mega-Developments Offer Better Investment Returns?
Comparison
We analysed High Park Residences, a 1,390-unit mega-development, alongside the nearby 735-unit Parc Botannia to see which offered better returns.
Key Insight
High Park outperformed Parc Botannia in both average gains and annualised returns, and this trend held across nearly every unit type.
Why This Matters
Both projects are leasehold, located just minutes apart, and differ by only 2–3 years in age. That makes them ideal for isolating the effect of scale, and the results may change how you view mega-developments.
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In recent years, mega-developments, with over a thousand units, sprawling facilities, and lower entry prices, have surged in popularity. But do they really offer better investment returns?
To find out, we compared High Park Residences (1,390 units, completed in 2019) with its nearby counterpart Parc Botannia (735 units, completed in 2022). Both are leasehold projects in the same Fernvale area, share similar locational advantages, and are only two years apart in age, making them ideal for isolating the effect of scale.
A quick rundown on High Park Residences and Parc Botannia
High Park Residences is the mega-development in this study. It’s a leasehold, 1,390-unit condo at 27 Fernvale Road. This is just a few minutes walk from Parc Botannia at 10 Fernvale Street. Parc Botannia is also a leasehold condo, but with just 735 units.
| Project | High Park Residences | Parc Botannia |
| Tenure | 99 years | 99 years |
| Launch year | 2015 | 2017 |
| Completion year | 2019 | 2022 |
| Number of units | 1,376 condos and 14 landed units | 735 units |
These two projects are suitable for our case study because:
- They are so close that the locational advantages and drawbacks are virtually similar
- High Park Residences and Parc Botannia are close in age; Parc Botannia is about two years younger, but this shouldn’t distort the perspectives too much, although we have to note that earlier launches would also mean a lower entry price
- At 735 units, Parc Botannia is neither too big nor too small to provide a fair point of comparison.
Let’s start with a general snapshot of High Park and Parc Botannia’s performance:
| Year | High Park Residences | Parc Botannia |
| 2015 | $987 | |
| 2016 | $1,037 | |
| 2017 | $998* | $1,283 |
| 2018 | $1,212 | $1,316 |
| 2019 | $1,237 | $1,323 |
| 2020 | $1,215 | $1,365 |
| 2021 | $1,283 | $1,438 |
| 2022 | $1,379 | $1,542 |
| 2023 | $1,497 | $1,588 |
| 2024 | $1,558 | $1,614 |
| Annualised | 5.20% | 3.34% |
| Annualised (2017 – 2024) | 6.57% | 3.34% |
*High Park Residences saw a dip between 2017 to 2018 because of wider market reasons (the implementation of further cooling measures,) so this does place it at a slight disadvantage. However, we have chosen to start the comparison in 2017 because skipping a whole year would simply result in another distortion – this is unfortunately, another case where perfect points of comparison, as always, don’t exist in the property market.
On the surface, High Park seems to outperform Parc Botannia. But this is too general: its stronger gains may just be due to its two-year lead. We might even argue that High Park launched during a market lull (just prior to the 2017 rebound), whereas Parc Botannia launched later into a recovering market, thus resulting in less upside potential.
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