In this Stacked Pro breakdown:
Do Older Leasehold Condos Like Orchid Park Still Make Sense Today?
Comparison
We tracked how Orchid Park — one of Yishun’s earliest condos — has performed from 2016 to 2024, alongside newer leasehold projects in the OCR.
Key Insight
While price growth has lagged, especially for larger units, some segments (like its 3-bedders) still show surprisingly strong rental yields.
Why This Matters
In a market where new launch prices keep climbing, some older projects may offer better value than you’d expect — if you know what to look for.
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Orchid Park was a condo completed in 1994, in a very different era of the Singapore property market. It was a time when Executive Condominiums (ECs) didn’t exist yet (the EC scheme was introduced a year later in 1995), and condos in heartland areas like Yishun were comparatively rare. In this sense, Orchid Park can be said to be a pioneer or a first mover, and it’s also a good example of how leasehold condos fare over the decades.
Here’s what we can learn from its performance to date:
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.
A quick profile of Orchid Park
Orchid Park is a 99-year leasehold condo located in Yishun (District 27), completed in 1994. It’s a 615-unit project facing the Lower Seletar Reservoir on one side, and the Yishun HDB enclave on the other. The closest MRT station is Khatib (NSL).
The reason we’ve picked Orchid Park for our study is that, unfortunately, we’ve found it trails far behind many older leasehold condos. This is based on a study of annualised returns from 2016 to 2024*:
| ORCHID PARK CONDOMINIUM | 3.92% |
| THE TANAMERA | 3.93% |
| PEOPLE’S PARK COMPLEX | 4.34% |
| WEST BAY CONDOMINIUM | 4.43% |
| THE PLAZA | 4.44% |
| NEPTUNE COURT | 4.83% |
| SHERWOOD TOWER | 4.91% |
| FAR HORIZON GARDENS | 4.95% |
| BEDOK COURT | 5.05% |
| MANDARIN GARDENS | 5.16% |
| BAYSHORE PARK | 5.16% |
| HILLCREST ARCADIA | 5.29% |
| TEXTILE CENTRE | 5.36% |
| EMERALD PARK | 5.61% |
| LOYANG VALLEY | 5.86% |
| THE ARCADIA | 6.59% |
*As the period from 1995 to 2024 spans nearly three decades, comparing annualised gains over such a long timeframe doesn’t offer meaningful insights (almost every project will appear to have been a windfall, with so much time to appreciate). Instead, we’ve focused on their performance from 2016 to 2024 for a more relevant snapshot.
From 2016 to 2024, we see the two worst-performing projects are Orchid Park Condominium with an annualised growth rate of 3.92 per cent, and The Tanamera with an annualised growth rate of 3.93 per cent.
So what’s happening at Orchid Park?
Let’s start by doing some general comparisons of its performance, compared to islandwide averages:
2-bedroom units
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