Freehold And Well-Located — Yet This City-Centre Condo Still Underperformed. Here’s Why
November 13, 2025
Sky Everton launched in 2019 to a mix of enthusiasm and hesitation, a pattern that often accompanies boutique freehold projects sitting on the fringe of major transformation zones. As the former Asia Gardens site, it benefited from strong narratives at the time: proximity to the Greater Southern Waterfront, freehold status in a predominantly leasehold area, and a relatively small 262-unit count that appealed to owner-occupiers.
But there were early concerns too. Its perch along the Outram/Chinatown fringe raised questions about congestion, tenant competition, and the influence of nearby hospitals, such as SGH. Still, launch-day sales were respectable for a higher-priced project, clearing roughly 40 per cent of units.
Fast-forward to today, however, and Sky Everton presents an interesting case study. It isn’t an unprofitable project by any means; in fact, most owners have seen gains. Rather, the issue is comparative: against its peers in the region, and especially among new launches completed in the same window, Sky Everton’s price performance has trailed the pack. In this review, we take a closer look at the numbers, the competitive landscape, and the structural factors that may be holding it back.
Ryan J. Ong
A seasoned content strategist with over 17 years in the real estate and financial journalism sectors, Ryan has built a reputation for transforming complex industry jargon into accessible knowledge. With a track record of writing and editing for leading financial platforms and publications, Ryan's expertise has been recognised across various media outlets. His role as a former content editor for 99.co and a co-host for CNA 938's Open House programme underscores his commitment to providing valuable insights into the property market.Need help with a property decision?
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