How Purchase Timing Affects Returns In Mega Developments: A Case Study Of Treasure At Tampines

What if buying later in a new launch could net you better returns? We analysed real transactions at Treasure at Tampines—and the results may surprise you.

By Ryan J. Ong

Published 28 April 2025, 8:31 PM SGT · 10 min read · 245

How Purchase Timing Affects Returns In Mega Developments A Case Study Of Treasure At Tampines

In this Stacked Pro breakdown:

We studied over 30 resale transactions at Treasure at Tampines to uncover if early buyers actually profited more
See how a mere 6–12 month difference in purchase timing impacted returns — sometimes up to 150% more profit
Learn why later buyers occasionally outperformed, and how resale timing plays a crucial role in your investment outcome

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As the largest condo development currently existing in Singapore (2,203 units), Treasure at Tampines is the very embodiment of a mega-development. With room for a wider range of facilities and lower costs (both in quantum and for maintenance), it’s emblematic of why many Singaporeans prefer bigger projects today. There’s also one more added advantage: due to its vast size and longer period of developer sales, Treasure provides an excellent study of whether it’s best to buy earlier or later for a new launch. Here’s what we found out:

A rundown on Treasure at Tampines

Treasure at Tampines is a 99-year leasehold condo in Tampines (District 18). It’s the largest condo project in Singapore to date, by unit count: there are 2,203 units here. Treasure was launched in March 2019 and was completed in 2023. The average annualised return has been 5.5 per cent, with the typical holding period being 3.8 years (this is a bit shorter than our other case studies, as Treasure is very new).

Let’s start by looking at the 1-bedders, which face the direction of the PIE

Resale Gains of Outward Facing 1 Bedroom Units Stack 169

Sold on	Address	Size	Bedrooms	Sale PSF	Profit/loss	Purchase PSF	Purchase date	Days	Years	Annualised (%)
23 Jul 2024	49 Tampines Lane #07-169	484	1	1,641	155,000	1,321	23 Mar 2019	1,949	5.3	4.1
28 Jun 2024	49 Tampines Lane #04-169	484	1	1,602	145,000	1,303	11 May 2019	1,875	5.1	4.1
21 Aug 2023	49 Tampines Lane #05-169	484	1	1,610	145,000	1,311	1 Jun 2019	1,542	4.2	5
29 Sep 2023	49 Tampines Lane #02-169	484	1	1,631	167,000	1,286	24 Jun 2019	1,558	4.3	5.7

Note that during early developer sales, the premium difference between floors was not substantial; but the advantage of a higher floor did show an advantage during resales. E.g., higher floors (#07-169) commanded slightly higher sale PSFs ($1,641) compared to lower floors (#02-169, $1,631).

Frequently asked questions

How does the timing of purchasing a property in Treasure at Tampines affect the potential returns?

The study shows that a 6–12 month difference in purchase timing can impact returns significantly, sometimes up to 150% more profit. Early buyers often benefit from lower prices, but later buyers can outperform if market conditions change.

Do later buyers at Treasure at Tampines sometimes make better profits than early buyers?

Yes, the case study indicates that some later buyers, who purchased at higher prices, still achieved high annualised returns, especially if they sold during a market upswing or had shorter holding periods.

What role does resale timing play in the investment outcomes at large condo developments like Treasure at Tampines?

Resale timing is crucial; buying earlier at lower prices can lead to higher total profits, but selling during a market peak or market growth phase can also benefit later buyers, affecting overall returns.

Is there a difference in profit based on whether units face inward or outward at Treasure at Tampines?

The case study shows that earlier purchases at lower prices generally resulted in better annualised gains across both inward and outward-facing units, though specific unit facing may influence resale prices.

How does the size of the unit (like 1-bedroom vs. 4-bedroom) influence the impact of purchase timing on returns?

Smaller units like 1-bedroom units showed clear advantages for early buyers due to lower prices, while larger units like 4- and 5-bedroom units had fewer observable benefits from early purchase, possibly due to longer selling periods and less price movement.

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Ryan J. Ong

Partner at Stacked

A seasoned content strategist with over 17 years in the real estate and financial journalism sectors, Ryan has built a reputation for transforming complex industry jargon into accessible knowledge. With a track record of writing and editing for leading financial platforms and publications, Ryan’s expertise has been recognised across various media outlets. His role as a former content editor for 99.co and a co-host for CNA 938’s Open House programme underscores his commitment to providing valuable insights into the property market.