We Compared Old vs New Condos in One of Singapore’s Priciest Family Neighbourhoods: Here’s What We Found For Family-Sized Units in District 21

In our continuation from part 1, we’re going to look at the leasehold three and four-bedders in District 21 (D21). In many ways, these family-sized homes are the “true” bread-and-butter of the district, as D21 is primarily known as a family-oriented zone: perhaps a little more upscale than some other heartland areas, but ultimately still an area with schools, greenery, and open spaces. In light of that, can older three or four-bedders continue to draw interest? Let’s have a look at how they’re faring:

A quick note on newer versus older

As mentioned in part 1, 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.

Let’s start with the overall performance of the newer and older three-bedders

3-bedroom units

Average $PSF

For the three-bedders in D21, newer condos outpaced older ones (3.79 per cent versus 2.95 per cent).