Should We Buy An Old 99-Year Leasehold Condo To Live In: Will It’s Value Fall When The Lease Runs Out?

Hi Stacked Homes, this is Mrs Lim. I have been following Stacked for many years as you all have given very detailed info on housing projects. Thank you. I would like to seek your advice on a condominium next to Parkway Parade. It is already 25 years old and is a 99-year leasehold condo. I like the location as it is very convenient and windy. However, I am concerned about the impact of the decaying lease. Have you encountered a condo that is close to, or older than, 50 years; and has it been stayed in until the lease ran out? I’m just wondering if it’s ok to buy a unit there for own stay use? What is your frank opinion? Thank you.

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Hi Mrs. Lim. Thank you so much for reaching out.

To answer one part of your question; Yes, there are some non-landed private homes in Singapore that have a 99-year leasehold tenure and are more than 50 years old, although they are rare. Some examples in the Marine Parade area are Mandarin Gardens and Laguna Park which we explore below. 

That said, we have yet to encounter anyone who has lived in a project until the very end of its lease.

To answer the next part of your question, we need to go into a little more detail.

We assume you are referring to Cote D'Azur when you mention the condo next to Parkway Parade. In considering whether you should buy, we decided to look at the following:

• How 99-year leasehold condos have performed, categorised by age bands
  
• A closer look at relevant older projects to see how they’ve actually held up
  
• A detailed case study on Cote D'Azur’s performance
  
• How Cote D'Azur compares with nearby developments to put its results in proper context

Let’s begin by looking at the performance of various 99-year leasehold condos, according to their age groups:

Lease start year	Lease start 2015 and later	Lease start between 2005 and 2014	Lease start between 1995 and 2004	Lease start between 1985 and 1994	Lease start between 1975 and 1984	Lease start 1974 and earlier
Current age	Age 10 years and below	Age 11 to 20 years	Age 21 - 30 years	Age 31 to 40 years	Age 41 - 50 years	Age above 51 years

Year	Lease start 2015 and later	Lease start between 2005 and 2014	Lease start between 1995 and 2004	Lease start between 1985 and 1994	Lease start between 1975 and 1984	Lease start 1974 and earlier
2015		$1,252	$966	$957	$827	$889
2016		$1,396	$960	$920	$758	$785
2017	$1,649	$1,330	$959	$917	$803	$856
2018	$1,636	$1,304	$989	$970	$953	$1,008
2019	$1,538	$1,330	$988	$1,011	$964	$1,030
2020	$1,540	$1,262	$967	$963	$928	$890
2021	$1,627	$1,287	$1,034	$1,044	$989	$1,006
2022	$1,761	$1,393	$1,146	$1,148	$1,083	$1,148
2023	$1,834	$1,503	$1,274	$1,246	$1,205	$1,205
2024	$1,950	$1,560	$1,338	$1,314	$1,180	$1,219
2025 (Up to Q3)	$2,011	$1,619	$1,395	$1,337	$1,159	$1,210
Annualised	2.51% (2017 to 2025)	2.60%	3.75%	3.40%	3.44%	3.13%

Note: The reason newer condos (under 20 years old) show lower growth rates is because new launches are always priced higher than existing resale condos. So because the newer condos come in at a much higher average price per square foot ($PSF), the apparent percentage growth is lower. It does not mean they are “worse performers.” 

From the above, we can see that price growth does moderate as a condo ages. Even though their average $PSF can continue to increase, the rate at which they rise tends to slow. 

We can also see that the launch of a newer condo nearby doesn’t automatically lift the prices of older projects nearby, as is widely believed. It may happen that the higher $PSF of the new condo raises price expectations in the area, which in turn has a knock-on effect on older nearby condos. But this assumes demand for the older resale condos stay resilient.

That said, the data also shows that price growth moderates as projects continue to age. That is, the average $PSF of an older condo can continue to rise even after 20 or 30 years, but the rate at which it appreciates begins to slow. 

Now let’s see if this applies to District 15, where Cote D'Azur is located

Year	Lease start 2015 and later	Lease start between 2005 and 2014	Lease start between 1995 and 2004	Lease start between 1985 and 1994	Lease start between 1975 and 1984
2015		$1,687	$1,152	$1,223	$859
2016		$1,539	$1,105	$1,138	$797
2017		$1,576	$1,090	$1,200	$836
2018		$1,665	$1,170	$1,259	$950
2019	$1,656	$1,601	$1,159	$1,365	$958
2020	$1,950	$1,630	$1,172	$1,307	$932
2021	$2,046	$1,709	$1,294	$1,371	$1,031
2022	$2,112	$1,895	$1,422	$1,491	$1,125
2023	$2,218	$1,888	$1,540	$1,593	$1,166
2024	$2,254	$1,964	$1,624	$1,642	$1,169
2025 (Up to Q3)	$2,413	$1,903	$1,694	$1,716	$1,160
Annualised	6.48% (2019 to 2025)	1.21%	3.94%	3.44%	3.05%

In this case, District 15 shows a slightly different pattern from what we expected. Projects that are 10 years old and younger saw their highest annualised growth rate of 6.48 per cent between 2019 and 2025.

This is unusual because newer projects usually come in at a higher price and usually results in relatively lower percentage growth. 

But looking deeper, from 2019 to 2024, we noticed that nearly all of the resale transactions in this age group came from Seaside Residences, an 841-unit condo off Siglap Road . As a result, this one condo heavily skewed the averages.

Later in 2025, there were a handful of subsale transactions (i.e., units sold before the official completion of the condo) at LIV @ MB, a 298-unit development off Mountbatten Road that launched in 2022. This further pushed up the overall average $PSF for condos aged 10 and under in this district.

Setting aside that outlier, the condos in older age groups followed a more predictable pattern where the average $PSF continued to rise over time, but the pace at which they rose began to slow over the decades. 

Now that we have a sense of how older condos appreciate in D15, let’s examine the 41 to 50 year old age group. 

We are only looking at resale and subsale transactions here. We’ve started from 1995 because transaction data before then isn’t available.

One factor we notice is that the price trends of these older condos are relatively more volatile. Compared to the overall leasehold market, these older projects tend to experience steeper drops during market corrections and more uneven recoveries. We can see this in the late 1990s and early 2000s, where price declines were steeper and more prolonged than the broader market.

But during strong upcycles, particularly 2006 to 2007 and again from 2018 to 2022, all four developments recorded sharp price recoveries. In some years they even exceeded the islandwide leasehold average. Agents we spoke to noted that the upkeep of maintenance and the condition of facilities* have a bigger impact on the liveability and price of older condos. This can cause them to behave quite differently from each other, compared to newer projects where these factors tend to be more standardised. 

Overall, the takeaway is that 40+ year old condos in D15 can still appreciate, but at a slower pace. You can also expect a bit more price movement volatility and potentially more divergences with other condos in the same age range. 

*Squash courts, for instance, are not as widely used today, and some homebuyers don’t like condos that only have irregular shaped pools. These are some qualitative concerns to take into account before you buy. 

Next, we looked at the performance of Cote D'Azur from launch to Q3 2025

Year	Cote D'Azur	99y LH projects in D15	All 99y LH projects
2002	$600	$568	$483
2003	$613	$469	$479
2004	$608	$484	$514
2005	$621	$491	$542
2006	$648	$563	$646
2007	$885	$793	$885
2008	$942	$879	$765
2009	$920	$888	$788
2010	$1,069	$1,090	$977
2011	$1,206	$1,166	$985
2012	$1,245	$1,115	$1,040
2013	$1,267	$1,167	$1,164
2014	$1,272	$1,180	$1,196
2015	$1,292	$1,128	$1,104
2016	$1,221	$1,051	$1,166
2017	$1,235	$1,469	$1,230
2018	$1,253	$1,422	$1,359
2019	$1,207	$1,332	$1,474
2020	$1,385	$1,331	$1,453
2021	$1,445	$1,399	$1,517
2022	$1,595	$1,899	$1,595
2023	$1,761	$2,329	$1,783
2024	$1,838	$2,393	$1,854
2025 (Up to Q3)	$1,876	$2,039	$2,114
Annualised	5.08%	5.71%	6.62%

The annualised growth rate of 5.08 per cent trails the wider leasehold market and District 15, which - as we’ve established - is not surprising for an older project. But results over such a long period are a bit of an abstraction, and we want to see how well it’s been doing in a way that’s more relevant to today.

So here’s how Cote D'Azur compares in the past 10 years only:

Year	Cote D'Azur	99y LH projects in D15	All 99y LH projects
2015	$1,292	$1,127	$1,051
2016	$1,221	$1,051	$1,140
2017	$1,235	$1,062	$1,123
2018	$1,253	$1,177	$1,164
2019	$1,207	$1,168	$1,189
2020	$1,385	$1,184	$1,159
2021	$1,445	$1,381	$1,227
2022	$1,595	$1,469	$1,370
2023	$1,761	$1,534	$1,516
2024	$1,838	$1,646	$1,616
2025 (Up to Q3)	$1,876	$1,675	$1,679
Annualised	3.80%	4.05%	4.79%

This is quite a strong performance, since despite its age Cote D'Azur comes quite close to the price performance of the two wider markets we are comparing. The difference is only around a single percentage point or less.

Let’s get more specific and compare Cote D'Azur to its surrounding condos, since there’s quite a few in the surrounding area:

These are the condos nearby, a mix of both freehold and leasehold projects:

Project	KING'S MANSION	AMBER POINT	Cote D'Azur	THE ESTA	THE SEA VIEW	ONE AMBER	AMBER RESIDENCES	SILVERSEA	THE SHORE RESIDENCES	AMBER SKYE	AMBER 45	NYON	AMBER PARK	COASTLINE RESIDENCES
Tenure	Freehold	Freehold	99-year	Freehold	Freehold	Freehold	Freehold	99-year	103-year	Freehold	Freehold	Freehold	Freehold	Freehold
Completion year	1982	1991	2004	2008	2008	2010	2011	2014	2014	2017	2020	2022	2023	2023
No. of units	196	100	612	400	546	562	114	383	408	109	139	92	592	144

Again, to keep it relevant to today, we’ll only compare the performance from 2015 to Q3 2025, and not across their entire histories:

Year	KING'S MANSION	AMBER POINT	Cote D'Azur	THE ESTA	THE SEA VIEW	ONE AMBER	AMBER RESIDENCES	SILVERSEA	THE SHORE RESIDENCES	AMBER SKYE	AMBER 45	NYON	AMBER PARK	COASTLINE RESIDENCES
2015	$1,153	$1,257	$1,292	$1,475	$1,655	$1,394	$1,380	$1,687	$1,531
2016	$1,118	$1,158	$1,221	$1,416	$1,589	$1,357	$1,223	$1,539	$1,514
2017	$1,153	$1,304	$1,235	$1,483	$1,607	$1,438	$1,481	$1,575	$1,504	$2,071
2018			$1,253	$1,704	$1,766	$1,797	$1,695	$1,665	$1,589	$2,183
2019		$1,657	$1,207	$1,808	$1,743	$1,658	$1,558	$1,626	$1,541	$2,024
2020	$1,372		$1,385	$1,745	$1,803	$1,636	$1,583	$1,642	$1,580	$1,671
2021	$1,554	$1,606	$1,445	$1,814	$1,979	$1,761	$1,689	$1,724	$1,682	$1,803	$2,533
2022	$1,713	$1,696	$1,595	$2,012	$2,195	$1,929	$1,757	$1,935	$1,750	$2,061	$2,461		$2,720
2023	$1,877	$2,144	$1,761	$2,156	$2,316	$2,169	$2,042	$1,915	$1,923	$1,933	$2,674	$2,441	$2,832	$2,745
2024	$1,926	$2,036	$1,838	$2,247	$2,516	$2,196	$2,204	$2,099	$2,057	$2,235	$2,665	$2,422	$2,852	$2,834
2025 (Up to Q3)	$1,917	$2,260	$1,876	$2,402	$2,702	$2,281	$2,048	$2,076	$2,071	$2,197	$2,620	$2,446	$2,911	$2,872
Annualised	5.21%	6.04%	3.80%	4.99%	5.02%	5.05%	4.03%	2.09%	3.07%	0.74% (2017 to 2025)	0.84% (2021 to 2025)	0.11% (2023 to 2025)	2.28% (2022 to 2025)	2.29% (2023 to 2025)

Most of Cote D'Azur’s immediate neighbours are freehold. But among the 99-year leasehold condos in the area, Cote D'Azur has the strongest annualised growth over the past decade. 

Now let’s compare specific unit sizes and prices, between Cote D'Azur and the surrounding condos:

Average price of 1-bedroom units

Year	AMBER PARK	AMBER SKYE	COASTLINE RESIDENCES	Cote D'Azur	NYON	ONE AMBER	THE SEA VIEW	THE SHORE RESIDENCES
2015						$970,000	$930,000	$929,667
2016						$930,000	$990,563	$890,000
2017				$966,900		$953,056	$966,500	$871,333
2018		$1,303,000		$1,089,722		$1,074,000	$1,084,600	$978,200
2019				$1,055,000		$1,040,000		$953,333
2020				$1,160,000				$964,222
2021				$1,250,000		$842,089	$1,275,000	$998,350
2022				$1,305,000		$1,210,000	$1,270,000	$1,005,799
2023	$1,334,000					$1,240,000		$1,066,667
2024	$1,318,200		$1,230,000	$1,288,000	$1,260,000	$1,250,000	$1,360,000	$1,122,500
2025 (Up to Q3)	$1,300,000				$1,200,000	$1,200,000	$1,374,000	$1,070,000

Average size of 1-bedroom units (based on transactions done)

Year	AMBER PARK	AMBER SKYE	COASTLINE RESIDENCES	Cote D'Azur	NYON	ONE AMBER	THE SEA VIEW	THE SHORE RESIDENCES
2015						570	560	592
2016						570	560	592
2017				840		570	560	592
2018		527		856		570	560	592
2019				933		570		628
2020				840				592
2021				861		570	560	610
2022				861		570	560	592
2023	463					570		592
2024	463		452	904	484	570	560	592
2025 (Up to Q3)	463				484	570	560	592

Cote D'Azur has the largest sized one-bedders on average compared to its neighbours. Its average quantum (overall price) is comparable to its freehold counterparts, but the development has much more sizeable units than its freehold peers in the area. 

It’s also worth noting that The Shore Residences, a 408-unit condo on Amber Road, despite being a newer 103-year leasehold project records a lower average one-bedder price than Cote D'Azur.

That being said, Cote D'Azur’s 800 to 900+ sq ft. is on par with a three-bedder today, so some buyers may not consider it a “true” one-bedder. As an advantage, it is more versatile than a typical shoebox unit and may fit the space needs and lifestyle requirements of a family.

Average price of 2-bedroom units

Year	AMBER 45	AMBER PARK	AMBER RESIDENCES	AMBER SKYE	COASTLINE RESIDENCES	Cote D'Azur	NYON	ONE AMBER	SILVERSEA	THE ESTA	THE SHORE RESIDENCES
2015			$1,650,000			$1,413,600			$1,572,500	$1,620,000	$1,362,917
2016			$1,680,000			$1,442,857		$1,424,000	$1,400,000	$1,516,667	$1,386,000
2017			$1,766,929	$2,318,131		$1,394,099		$1,495,000	$1,403,750	$1,665,000	$1,396,333
2018			$1,944,444	$2,415,855		$1,374,167		$1,687,296	$1,589,375	$1,798,000	$1,554,000
2019			$2,154,000	$2,450,714		$1,386,667			$1,732,000	$1,969,000	$1,420,978
2020			$2,038,000	$2,200,000		$1,513,600		$1,800,000	$1,648,127	$1,892,500	$1,456,288
2021	$1,580,000		$2,064,250	$2,204,300		$1,580,429		$1,776,000	$1,737,500	$2,006,198	$1,555,813
2022		$2,020,000	$2,313,472	$2,550,000		$1,722,099		$1,915,000	$1,830,000		$1,610,000
2023	$1,831,667	$2,071,000	$2,423,333	$2,580,000	$1,980,000	$1,886,667	$1,760,000	$2,251,669	$1,925,714	$2,269,333	$1,591,940
2024	$1,751,250	$2,040,401	$2,520,000	$2,377,600	$2,195,000	$2,027,000	$1,852,667	$2,182,250	$2,076,074	$2,250,000	$1,791,111
2025 (Up to Q3)	$2,287,500	$2,055,000	$2,590,000	$2,555,000	$2,054,444	$2,066,543	$2,020,000	$2,178,600		$2,636,000	$1,862,597

Average size of 2-bedroom units (based on transactions done)

Year	AMBER 45	AMBER PARK	AMBER RESIDENCES	AMBER SKYE	COASTLINE RESIDENCES	Cote D'Azur	NYON	ONE AMBER	SILVERSEA	THE ESTA	THE SHORE RESIDENCES
2015			1163			1115			980	1173	884
2016			1163			1120		958	980	1001	886
2017			1188	1119		1124		958	977	1044	929
2018			1206	1178		1122		958	973	1061	954
2019			1249	1211		1120			1042	1066	930
2020			1163	1216		1124		958	1040	1033	918
2021	614		1195	1216		1128		958	1042	1073	901
2022		743	1228	1119		1128		958	1000		899
2023	671	743	1163	1119	721	1109	721	958	1040	1044	883
2024	681	718	1163	1016	721	1179	786	958	1019	1071	897
2025 (Up to Q3)	872	717	1192	1135	727	1133	818	958		1096	885

We see the same pattern here. Because Cote D'Azur’s average two-bedder sizes are so huge, they end up having almost the same quantum as freehold two-bedders in the area (but they are much bigger.) 

If you compare freehold units with the same actual square footage as Cote D'Azur’s two-bedders, you will see that the price difference compared to those freehold units can exceed $500,000.

Against other leasehold condo alternatives in the area, Silversea, a 383-unit project on Marine Parade Road, is one of the closest comparisons. While its average two-bedder prices are broadly similar to Cote D'Azur, the average unit sizes at Silversea are still smaller. 

Average price of 3-bedroom units

Year	AMBER 45	AMBER PARK	AMBER POINT	AMBER RESIDENCES	AMBER SKYE	COASTLINE RESIDENCES	Cote D'Azur	KING'S MANSION	NYON	ONE AMBER	SILVERSEA	THE ESTA	THE SEA VIEW	THE SHORE RESIDENCES
2015			$2,125,000	$2,290,000			$1,776,625	$2,010,200		$1,828,125	$2,511,876	$2,083,500	$2,166,600	$1,950,000
2016			$1,940,000	$1,850,000			$1,651,429	$1,942,000		$1,831,600	$2,225,972	$1,971,250	$1,967,208	$1,810,000
2017			$2,193,333	$2,405,000			$1,705,714	$2,027,500		$1,903,333	$2,450,200	$2,035,638	$2,152,500	$1,843,333
2018				$3,025,000	$3,200,000		$1,842,500			$2,533,250	$2,580,000	$2,342,200	$2,010,000	$1,858,714
2019			$2,800,000				$1,657,000			$2,516,667	$2,490,000	$2,465,333	$2,459,296	$1,780,000
2020				$2,901,500			$1,851,143	$2,340,000		$2,216,667	$2,538,333	$2,365,000	$2,505,378	$1,886,200
2021	$2,950,000		$2,680,000	$2,650,000	$3,570,350		$1,948,182	$2,650,000		$2,388,185	$2,588,333	$2,543,889	$2,712,857	$1,960,000
2022			$2,830,000	$2,800,000	$2,915,000		$2,288,571	$3,000,000		$2,622,409	$3,269,857	$2,811,270	$2,946,000	$2,173,000
2023	$3,025,000	$2,995,775	$3,600,000	$3,130,000	$2,969,000		$2,387,500	$3,166,000		$2,872,550	$3,026,667	$2,857,500	$3,240,000	$2,450,000
2024	$3,350,000	$2,915,000	$3,440,000	$3,680,000	$3,150,000	$3,092,667	$2,643,111	$3,259,167	$2,868,000	$3,034,955	$3,482,154	$3,109,500	$3,410,500	$2,629,333
2025 (Up to Q3)		$3,242,815	$3,820,000	$3,625,000	$2,950,000	$3,350,000	$2,627,500	$3,319,722	$2,880,000	$3,105,384	$3,232,778	$3,246,115	$3,556,463	$2,680,000

Average size of 3-bedroom units (based on transactions done)

Year	AMBER 45	AMBER PARK	AMBER POINT	AMBER RESIDENCES	AMBER SKYE	COASTLINE RESIDENCES	Cote D'Azur	KING'S MANSION	NYON	ONE AMBER	SILVERSEA	THE ESTA	THE SEA VIEW	THE SHORE RESIDENCES
2015			1690	1611			1328	1726		1347	1539	1391	1294	1507
2016			1675	1518			1332	1726		1345	1507	1414	1281	1227
2017			1683	1658			1301	1757		1354	1557	1377	1362	1191
2018				1658	1335		1313			1346	1543	1339	1216	1227
2019			1690				1311			1607	1534	1342	1345	1141
2020				1658			1301	1706		1517	1563	1378	1332	1232
2021	1184		1668	1518	1833		1338	1706		1364	1539	1408	1355	1217
2022			1668	1518	1335		1333	1604		1366	1605	1405	1345	1262
2023	1157	1028	1679	1518	1335		1328	1686		1339	1507	1330	1362	1201
2024	1184	1001	1690	1658	1335	1116	1332	1672	1216	1406	1588	1359	1345	1191
2025 (Up to Q3)		1082	1690	1658	1528	1130	1357	1655	1216	1348	1546	1346	1289	1292

The average price of Cote D'Azur’s three-bedders are the lowest priced options in this neighbourhood. The only close comparison that matches Cote D'Azur’s price is The Shore Residences, but that’s just because the size of its three-bedders are slightly smaller.

The very large units here have a drawback though. The huge sizes and high quantum will price out most buyers today and you might find a more narrow pool of prospective buyers (likely ones who can also easily afford new launches) if you choose to sell in the future. 

Average price of 4-bedroom units

Year	AMBER 45	AMBER PARK	AMBER RESIDENCES	AMBER SKYE	Cote D'Azur	KING'S MANSION	ONE AMBER	SILVERSEA	THE ESTA	THE SEA VIEW	THE SHORE RESIDENCES
2015			$2,850,000		$1,600,000	$3,000,000	$2,252,500	$4,722,667	$2,341,115	$2,638,595	$2,200,000
2016			$4,070,000		$2,092,220	$3,000,000	$2,547,500	$4,326,667	$2,188,333	$2,513,333	$4,700,000
2017					$1,965,760		$2,286,667	$5,825,333	$2,576,667	$2,650,500	$2,105,000
2018			$3,500,000		$1,950,000		$2,907,233	$4,700,000	$2,662,500	$2,966,857	$2,180,200
2019			$4,560,000		$1,875,000		$2,650,000	$3,750,000	$2,771,250	$3,146,250	$2,220,000
2020			$4,380,000	$5,079,453	$2,225,000		$2,800,000	$4,660,000	$2,641,200	$2,709,600
2021			$3,955,984	$5,661,748	$2,375,556		$2,989,000	$4,714,286	$2,810,000	$3,280,778	$2,255,000
2022	$3,920,000		$6,780,000	$4,250,000	$2,430,000	$4,250,000	$3,396,000	$5,380,000	$3,205,000	$3,281,850	$2,475,000
2023	$3,569,000		$4,200,000		$2,810,200		$3,476,667	$5,034,000	$3,327,500	$3,623,000	$2,715,000
2024	$4,022,500	$4,618,000				$4,780,000	$3,377,500	$5,864,000	$3,636,000	$4,035,944	$3,070,000
2025 (Up to Q3)		$3,970,694	$9,305,000		$3,073,333	$4,760,000	$3,638,888	$5,015,000	$3,618,888	$4,359,333

Average size of 4-bedroom units (based on transactions done)

Year	AMBER 45	AMBER PARK	AMBER RESIDENCES	AMBER SKYE	Cote D'Azur	KING'S MANSION	ONE AMBER	SILVERSEA	THE ESTA	THE SEA VIEW	THE SHORE RESIDENCES
2015			2217		1539	2734	1666	2465	1636	1610	1432
2016			4047		1905	2734	2054	2598	1593	1604	2906
2017					1539		1687	3200	1841	1658	1378
2018			2217		1539		1680	2530	1561	1745	1378
2019			3665		1550		1658	2508	1569	1916	1378
2020			4080	3315	1632		1672	2492	1567	1570
2021			2505	3572	1586		1675	2554	1622	1724	1405
2022	1593		5845	2659	1539	2734	1946	2753	1572	1518	1378
2023	1346		2217		1539		1672	2530	1561	1595	1405
2024	1470	1625				2734	1637	2928	1593	1583	1378
2025 (Up to Q3)		1372	6717		1586	2734	1658	2498	1561	1604

Cote D'Azur also has the lowest average price for its four-bedders, but note that surrounding condos tend to have slightly bigger four-bedders. The average price of The Shore Residences comes closest to Cote D'Azur. 

What should you do? 

The data suggests that the average price of older developments can still rise in tandem with the market, despite their age. It’s simply that the pace of price growth slows as they grow older. This is true for older developments in District 15.

As an aside, while Cote D'Azur is twenty-four years old, it would not typically be considered a “very old” property, although your concerns about lease decay over a long holding period are understandable.

In this part of District 15, the price gap between freehold and 99-year leasehold projects is especially wide, particularly for larger-sized three- and four-bedders. This works in favour of leasehold developments, where buyers who might be priced out of freehold options often turn to 99-year projects. Some buyers may even do so just because they prioritise a home with more space. 

In either case, both these demographics help to sustain buying demand, even for older 99-year leasehold condos in this neighbourhood. 

Ultimately, suitability comes down to priorities. If you’re looking for a spacious home that is likely to hold its value, Cote D'Azur makes sense. But, if your primary goal is maximising upside and profitability, Cote D'Azur may be a little too big for its own good - from an investment perspective, a two-bedder that crosses the $2 million mark - because it’s gigantic at over 1,100 sq ft - is tougher to justify.