In this Stacked Pro breakdown:
Overview
We tracked the price movements of Seletar Park Residence from its launch in 2012 up till 2024, and compared its performance to other 99-year leasehold projects in District 28, including nearby developments like The Topiary and The Greenwich. We also broke down its average quantum and resale profitability to understand what’s behind the project’s modest returns.
Key Insight
With an annualised return of just 0.74%, Seletar Park Residence has clearly underperformed, but not necessarily for the reasons you’d expect. Rather than fundamental flaws in the project, its weak performance seems to stem from mismatched pricing expectations and strong competition from nearby Executive Condominiums (ECs).
Why This Matters
Seletar Park Residence challenges the assumption that newer means better. With high entry prices, large unit sizes, and a boutique position in an EC-saturated location, it teaches us that common assumptions about “better projects” don’t always lead to a higher ROI.
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What is Seletar Park Residence’s ROI not telling us about this project?
At first glance, Seletar Park Residence appears to be a quiet achiever: a low unit-count development tucked into a peaceful landed enclave – something that might combine the cost-efficiency of condo living with the experience of a landed area. But when you look at the numbers, the story is less reassuring. Since its launch in 2012, this 99-year leasehold condo has posted one of the lowest annualised returns among its peers, and gains have been rather flat. In this breakdown, we explore what’s really behind its subdued performance – from pricing psychology to EC competition – and we can see the full picture emerge by digging beyond just the ROI.
A Quick Summary of Seletar Park Residence
Seletar Park Residence is a 276-unit, 99-year leasehold condominium located in the quiet Seletar Hills enclave of District 28. Completed in 2015, it was positioned as an exclusive (low unit-count), low-density project, offering larger-than-average unit sizes. However, despite these qualities being in high demand, the project has seen relatively flat price growth over the years, with performance trailing many of its peers in the district and beyond.
Let’s take a quick look at Seletar Park Residence’s ROI:
| Year | Average $PSF |
| 2012 | $1,128 |
| 2013 | $1,149 |
| 2014 | $1,212 |
| 2015 | $1,254 |
| 2016 | $1,107 |
| 2017 | $1,091 |
| 2018 | $1,094 |
| 2019 | $1,105 |
| 2020 | $1,067 |
| 2021 | $1,137 |
| 2022 | $1,211 |
| 2023 | $1,291 |
| 2024 | $1,232 |
| Annualised | 0.74% |
0.74 per cent is a frankly dismal number; the values are close to unchanged despite a 12-year period. But is this typical of the projects within this district? Let’s see:
| Year | Seletar Park Residence | D28 99y leasehold condos | All 99y leasehold condos |
| 2012 | $1,128 | $1,095 | $1,039 |
| 2013 | $1,149 | $789 | $1,163 |
| 2014 | $1,212 | $1,046 | $1,195 |
| 2015 | $1,254 | $988 | $1,104 |
| 2016 | $1,107 | $1,002 | $1,166 |
| 2017 | $1,091 | $1,160 | $1,230 |
| 2018 | $1,094 | $1,186 | $1,359 |
| 2019 | $1,105 | $1,236 | $1,474 |
| 2020 | $1,067 | $1,146 | $1,453 |
| 2021 | $1,137 | $1,165 | $1,517 |
| 2022 | $1,211 | $1,248 | $1,595 |
| 2023 | $1,291 | $1,348 | $1,783 |
| 2024 | $1,223 | $1,434 | $1,854 |
| Annualised | 0.74% | 2.27% | 4.94% |
Seletar Park Residence has underperformed in both its own district as well as the broader market.
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