Penrith Pricing Review: How It Compares To Nearby Resale And New Launches

Penrith launches at $2,437 psf, making it the highest-priced project in Queenstown today. At first glance, this positions it above nearby comparables such as Queens Peak, Margaret Ville, and Stirling Residences. But the headline $PSF alone doesn’t tell the full story. Thanks to compact and efficient layouts, Penrith’s overall quantum remains competitive, with many two- and three-bedder units sitting squarely in the mid-range compared to its neighbours, while four-bedders are priced at levels that still look accessible by today’s standards.

On a broader scale, Penrith’s pricing is lower than several recent OCR and RCR launches. That’s significant: it means buyers who might otherwise have considered fringe or suburban projects now have the option of a city-fringe address at a comparable entry point. For HDB upgraders in Queenstown, Clementi, or Bukit Merah (many sitting on strong paper gains), that makes Penrith a viable opportunity to buy into a mature, well-connected neighbourhood.

This mix of “highest locally, but competitive regionally” makes Penrith less about whether buyers will pay a premium, and more about how they perceive value in today’s market. Is Penrith overpriced for Queenstown, or underpriced when measured against the wider pool of launches in 2025? Let’s take a closer look. 

Quick Summary

• Penrith launches with starting prices from $2,437 psf, the highest in its immediate area but still competitive in overall quantum thanks to compact, efficient layouts.
  
• Compared to nearby resale projects like Queens Peak, Margaret Ville, and Stirling Residences, its two- and three-bedders are mid-priced, while the four-bedders remain relatively accessible.
  
• On a broader scale, Penrith’s pricing is lower than several recent OCR and RCR launches, giving it an edge for buyers seeking city-fringe convenience at a lower entry point.
  
• With limited new supply in D3 and strong upgrader demand from nearby Queenstown HDB owners, the project stands out as a rare new launch in a mature, well-connected neighbourhood.

Our key considerations when looking at Penrith’s pricing 

These are the main issues we’ll take into consideration:

1. District performance: How District 3 (D3) and the broader market have performed across different market segments and tenures.
   
2. Resale comparisons: How Penrith’s potential launch prices might stack up against resale projects around Margaret Drive.
   
3. Nearest competitor check: How Penrith’s layouts and pricing compare to its closest new-launch alternative.
   
4. New launch context by bedroom type: Where Penrith’s two-, three-, and four-bedders sit within today’s broader market, in both $PSF and quantum.
   
5. Exit strategies: What potential outcomes look like at the point of resale.

These are the indicative starting prices for Penrith

District Performance

Now let’s see how condos in D3 have performed over the past decade compared to the rest of Singapore. This includes all transaction types: new, subsale, and resale.

All tenures

At an annualised gain of 2.91 per cent, D3 falls slightly below the overall market’s 3.88 per cent per year. However, performance since 2021 has been more robust; possibly projects such as Stirling Residences and Margaret Ville have helped lift the district’s baseline.