We Compared 17 Integrated Developments To Regular Condos: Which Was More Profitable?

Integrated developments are often positioned as premium assets within the property market, with developers pricing in their convenience: direct MRT access, retail integration, and proximity to amenities. But does this premium translate into stronger price performance over time? To answer this, we compared the resale gains of integrated developments against conventional non-integrated projects to see whether the data supports the higher price tag, or if the premium is driven more by perception than actual returns.

Comparing 17 integrated developments

Integrated developments cost more than their regular counterparts in general, whether as new launches or resale units. But we want to find out if the premium on these integrated projects results in better gains, compared to other non-integrated, non-landed projects. Here’s an overall snapshot, excluding Executive Condominiums (ECs). 

Note: We’ve excluded ECs because these are subsidised projects, which are a form of HDB housing for their first 10 years; they can’t be considered the same as a fully private, non-landed development.

If we go by this very general snapshot, non-integrated projects actually show a better return (32.4 per cent versus 29.9 per cent). The differences can be significant between the types of transactions, though. 

When we look at new sale to resale, Integrated projects actually perform better by a slight margin (30.2 per cent versus 29.5 per cent). But for new sale to sub sale, regular condos outperform integrated ones (22.6 per cent to 20.2 per cent). 

The most significant difference happens in the resale to resale segment. Here, non-integrated projects performed much better than integrated counterparts (40.2 per cent to 34 per cent). 

However, this is a very generalised snapshot and doesn’t take into account differences like the district location. 

A closer look at new to resale transactions, divided by district

Here’s a look at new to resale transactions, when we break it down by district:

Overall, integrated projects (from new to resale) outperform regular condos in three districts: 

• District 19 (Serangoon, Hougang, Kovan)
• District 22 (Jurong, Boon Lay)
• District 27 (Yishun, Sembawang) 

Note that all three of these are Outside of Central Region (OCR) districts; so perhaps the amenities of an integrated project are more appreciated there. 

This trend also holds in districts where regular condos outperformed. These include prime districts such as District 1 (Marina), 2 (Chinatown), and 9 (Orchard). Perhaps in these prime areas, it makes less of a difference whether the mall or MRT is attached to your unit: the amenities you need are all around you anyway.

But for the most part, when it comes to new to resale transactions, regular condos performed better in most districts.

Now let’s look at resale to resale transactions

For this, we’ll look at transactions from 2015 onward. This will give us a reasonable 10-year snapshot.

We have to be a bit cautious here, as the transaction volume on the integrated side is a lot lower; so let’s take the numbers with a pinch of salt.

That said, the overall results aren’t looking good for integrated projects. On a resale to resale basis, regular projects won in most of the districts. We only saw integrated projects come close to regular counterparts in Districts 19 and 22. 

(You may notice these two districts also saw the best results for integrated projects in new to resale, above.)

This may be happening for two reasons: first, the price premium for integrated developments means they start off pricier, and have less room for price growth. 

Second, connectivity and amenities tend to improve in a neighbourhood over time. More malls, MRT stations, etc., are built over the 10-year period, which diminishes the value of the integrated projects’ commercial and transport components. 

To better examine this, let’s look at some specific projects

The first one we’ll look at is Hillion Residences. This is a leasehold integrated project built in 2017, in District 23. Some of the nearby, regular projects here are Hazel Park Condominium, Hillsta, Mayspring, Palm Gardens, and The Linear. 

Here is how Hillion’s prices have moved, compared to its neighbours:

(You’ll notice that price growth became sharper from 2018 onward. This was true for most properties in Singapore, due to market recovery and the subsequent surge after Covid). 

Hillion Residences is much more consistent than its neighbours. It shows a steady increase in prices from 2013 to 2024, rising from $1,366 to $1,733 psf. In comparison, its neighbours show varied growth rates; Hazel Park and The Linear have much higher growth, while Palm Gardens and Hillsta saw slower increases. 

Overall, though, Hillion in recent years has been slightly outpaced by Hazel Park Condominium and The Linear, which have experienced sharper increases in their prices. It’s an okay performance, but we can see it has been beaten by regular condos despite the initial premium.

Next, let’s look at Watertown

Watertown is a significant integrated project in Punggol (District 19), as its commercial complement, Waterway Point, is a major amenity in a fringe neighbourhood. Watertown is also very big (some consider it a mega-development at 992 units), and it’s a leasehold project built in 2017. 

Its regular neighbours are Flo Residence, Parc Centros, River Isles, and A Treasure Trove:

Watertown’s unique situation in Punggol may have had an effect here. Watertown had a sharp increase in price, from $1,213 psf in 2012 to $1,407 psf in 2013. This is higher than all of its regular neighbours, which saw much smaller price increases over the same period. 

Watertown is linked to the area’s hub of amenities: its commercial element was the first to offer many dining and retail options to this part of Punggol. 

We can see, however, that its neighbours are catching up over time. Flo Residence significantly narrowed the gap from 2020 onward; and while Parc Centros and Treasure Trove have yet to surpass Watertown, they have seen strong price growth. 

Given time, we might see a repeat of the patterns shown above: as the surrounding area improves, the “premium value” of an integrated project might diminish. But it’s clear that Watertown saw a first-mover advantage with its strong commercial element, and has managed to stay ahead despite being the priciest project here from the start.

Next, let’s look at Park Place Residences in Paya Lebar Quarter (PLQ)

Park Place Residences is a leasehold, 429-unit integrated project, built in 2019. It’s a bit different in that PLQ was intended to be – and has become – a major business and retail hub. 

Some of its regular neighbours include Paya Lebar Residences, Sims Residences, Simsville, The Sunny Spring, and The Waterina. 

In this case, only Sims Residences saw a sideways movement, while the others saw their price psf inching closer to Park Place over the years.

That said, demand for Park Place Residences seems robust. It not only had the highest price at the start of the period, but has continued to outpace the others. Waterina and Paya Lebar Residences have seen good growth and have the best chance of narrowing the gap, but the others have shown more modest increases. 

Speculatively, there may be a much higher prestige value associated with Park Place Residences, compared to other integrated projects. It was a heavily marketed headline development from the start, and is widely considered to be the heart of PLQ. 

There’s also a stark visible difference between the slick, contemporary buildings in PLQ, versus the older “well-worn” surroundings of condos like Simsville. 

Next, let’s look at The Centris

This is an older integrated project in Jurong West Central (District 22). It’s a leasehold, 610-unit project built in 2009. Its neighbours include Lakeholmz, Parc Vista, The Lakefront Residences, and Caspian. 

The eye-opener for Centris is the increase from $1,002 psf in 2011 to $1,516 psf in 2024: an impressive 50 per cent jump. 

Meanwhile, the price gap between Lakeholmz and The Lakefront Residences has widened slightly over the years. Lakeholmz started at $456 psf in 2006 and gradually increased to $1,236 psf by 2024, with steady but relatively modest growth. But The Lakefront Residences started at $612 psf in 2006, and by 2024, it had reached $1,627 psf —showing more aggressive growth, especially in recent years.

Overall, if you are choosing based on price appreciation, The Centris and The Lakefront Residences appear to be the strongest performers here, with The Centis perhaps having an edge for its integrated element. 

Finally, let’s look at North Park Residences (Northpoint City)

North Park Residences is one of the most iconic projects in the north, simply because it was the first and largest integrated development in the area. Most Yishun residents know it as just Northpoint City, for its mall component.

This is a leasehold project completed in 2018, with 920 units in District 27. It’s nearby, regular condos are Orchid Park, Skies Miltonia, Symphony Suites, The Wisteria, Yishun Emerald, Yishun Sapphire, and Eight Courtyards. 

In terms of price appreciation and overall performance, North Park Residences has indeed been one of the best performers among the integrated developments we’ve discussed so far.

North Park Residences has had a 33% increase in its price psf, from $1,359 psf in 2015 to $1,813 psf in 2024. If we compare the others, Skies Miltonia, and Symphony Suites had price growth in the range of 14-15 per cent, far slower than North Park Residences. Orchid Park grew 38 per cent from 2015 to 2024, but this is not too far from North Park Residences, and we need to consider that Orchid Park started at a lower price point than North Park.

As an interesting aside, even the esteemed Park Place Residences in PLQ (see above) saw only a 24 per cent increase from 2017 to 2024; lower than North Park’s 33 per cent. 

North Park may be benefiting from the same effect as Watertown: it introduced major amenities into an area which was sparse in amenities before. This resulted in robust demand and attention, even if it started off at a premium. 

So, is it worth paying more for an integrated development?

On the whole, regular condos have shown stronger long-term gains, largely because they start at lower price points and benefit as surrounding neighbourhoods mature and develop.

That said, integrated developments can still be strong performers, particularly when they are first movers in emerging areas that lack amenities and transport links. The early advantage can deliver outsized returns if you get the timing and location right.

Most property advice in Singapore falls into two categories: overly generic or overly sales-driven.

What we’ve shared here is neither. It’s data-backed analysis combined with real-world experience reviewing hundreds of private developments across different districts and market cycles.

While we can’t cover every individual scenario in a single article, our team specialises in helping buyers weigh the premium of integrated developments against long-term appreciation potential, based on their personal goals and budget.

If you’re seriously considering a property move in the next six months, we’d love to help you explore whether an integrated development or a regular condo is the better fit. Let’s chat.