District 21 (D21) covers Upper Bukit Timah, Clementi Park, and Ulu Pandan, and it’s one of the most varied districts. D21 is really not easy to categorise because it has the full range of landed housing, boutique condos, some larger mass-market condos, etc. If there’s one thing they all have in common, it’s a good amount of green space and family-oriented amenities.
For one- and two-bedders, D21 tends to draw a mix of investors and younger buyers. Investors are attracted by the rental potential from nearby educational institutions, while homeowners are drawn to the lower entry price compared to CCR districts, with a similar lifestyle setting.
The big question, however, is whether newer or older projects here are falling behind with age. In this article, we’ll break down the performance of older versus newer one- and two-bedders in D21 over the past decade, to help inform your buying or selling decisions.
To start, we’re focusing only on 99-year leasehold condos, as this is where the effects of lease decay are most significant.
For newer condos, we’ll include projects with leases starting from 1994 to 2014. For older condos, we’ll look at those with leases starting from 1993 and earlier. This ensures we’re tracking the same pool of projects over time.
Finally, we’ll use only subsale and resale transactions to avoid distortions caused by developer discounts.
Past performance is a useful signal, but it's not a forecast. The projects that outperformed over the last cycle aren't guaranteed to do so again, and the reasons they outperformed may no longer apply.
The more useful question is whether a particular property still makes sense at today's price, given your budget, objectives and timeline. That's where many buyers find it helpful to get a second opinion.
Over time, that's also why we decided to work with agents who shared the same data-driven and advisory-led approach behind our editorial, consultants who could help readers think through decisions more objectively, rather than simply push transactions.
Today, the team has worked with more than 2,000 clients across over $5B in property transactions.
First, let’s look at how condo projects have fared in D21 overall
Let’s start by looking at the overall performance of non-landed private properties in D21 (resale)
| Year | D21 | All non-landed private properties |
| 2014 | $1,145 | $1,215 |
| 2015 | $1,084 | $1,197 |
| 2016 | $1,062 | $1,248 |
| 2017 | $1,109 | $1,293 |
| 2018 | $1,229 | $1,323 |
| 2019 | $1,278 | $1,346 |
| 2020 | $1,263 | $1,280 |
| 2021 | $1,351 | $1,354 |
| 2022 | $1,499 | $1,473 |
| 2023 | $1,677 | $1,595 |
| 2024 | $1,768 | $1,681 |
| Annualised | 4.44% | 3.30% |
Over the past decade, resale condos in D21 appreciated at 4.44 per cent, which is noticeably higher than the islandwide average of 3.30 per cent.
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