The Surprising Property Deals That Closed On Christmas Day In Singapore
Does anyone sell their home on Christmas? The answer appears to be yes! Some surprisingly profitable transactions occur on Christmas day, so maybe someone got a gift-wrapped new condo. Not literally, because that would take a lot of wrapping paper. At the risk of confusing Santa with a change of address – because that’s what happens when you use magic reindeer as your GPS – sale transactions that took place on the 25th of December – and their corresponding purchase information:
Christmas Day Transactions
| Project | Bought Price | Size (Sq Ft) | Bought $PSF | Bought Date | Address | Gain/Loss ($) | Gain/Loss (%) | Sale Date | Sale Price | Sale Price | Holding Period |
| ADELPHI PARK ESTATE | $2,265,000 | 3582 | $632 | 1/7/96 | 3 MARIGOLD DRIVE | $735,000 | 32% | 25/12/07 | $3,000,000 | $3,000,000 | 11.5 |
| CASPIAN | $581,250 | 1249 | $466 | 23/2/09 | 50 LAKESIDE DRIVE #01-04 | $468,750 | 81% | 25/12/15 | $1,050,000 | $1,050,000 | 6.8 |
| LA CASA | $906,000 | 1184 | $765 | 28/4/21 | 60 WOODLANDS DRIVE 16 #08-24 | $325,949 | 36% | 25/6/24 | $1,231,949 | $1,231,949 | 3.2 |
| AQUARIUS BY THE PARK | $611,000 | 1324 | $461 | 1/4/99 | 5 BEDOK RESERVOIR VIEW #06-04 | $179,000 | 29% | 25/12/09 | $790,000 | $790,000 | 10.7 |
| HOLLAND MEWS | $731,050 | 904 | $809 | 28/7/04 | 69 HOLLAND ROAD #04-03 | $138,950 | 19% | 25/12/06 | $870,000 | $870,000 | 2.4 |
| ICON | $500,000 | 570 | $876 | 15/12/06 | 10 GOPENG STREET #08-03 | $60,000 | 12% | 25/12/06 | $560,000 | $560,000 | 0 |
| THE CLIFT | $926,428 | 495 | $1,871 | 25/6/07 | 21 MCCALLUM STREET #23-05 | $53,572 | 6% | 25/12/10 | $980,000 | $980,000 | 3.5 |
| PARC VISTA | $412,000 | 1055 | $391 | 12/11/98 | 454 CORPORATION ROAD #05-01 | $38,000 | 9% | 25/12/01 | $450,000 | $450,000 | 3.1 |
| SPRINGDALE CONDOMINIUM | $1,041,000 | 1119 | $930 | 6/5/96 | 51 HINDHEDE WALK #09-11 | -$381,000 | -37% | 25/12/05 | $660,000 | $660,000 | 9.6 |
| HILLVIEW PARK | $925,000 | 1324 | $699 | 2/5/96 | 19B HILLVIEW AVENUE #01-02 | -$425,000 | -46% | 25/12/04 | $500,000 | $500,000 | 8.7 |
Some notable condos on the list:
1. Icon Residence (Icon Village)
This is a leasehold, 646-unit project that dates back to 2007. It’s better known by the name of its commercial component, Icon Village, with its popular stretch of lunch eateries for CBD workers.
The residential portion seems to be mainly a rental asset: available information shows units classified only as one or two-bedders.
This is not uncommon in Downtown Core (District 2) properties. But while most of the units range between 570 to 904 sq. ft, units of up to 1,227 sq. ft. have been transacted. The classifications may be a bit misleading as to size, as 900 to 1,200+ sq. ft. could be considered a three-bedder today.
In any case, this mixed-use project would be excellent for rentability, as it’s right next to Guoco Tower and the Tanjong Pagar MRT station (EWL). Once Prince Edward Road MRT is up and running in 2026, residents will also be within walking distance of the CCL.
As a third alternative, Maxwell station provides access to the TEL; but this is a rather long walk along Maxwell Road, with an uphill climb to boot (it’s near the famous Maxwell hawker centre).
This area is full of malls and eateries, such as 100AM, as well as its own commercial space downstairs. Tanjong Pagar Plaza provides more local and HBD-style amenities, and nearby Tras Street has a lot of upscale options.
For own-stay use, this could suit young urban professionals or urbanite couples. Despite the convenience, it’s not really a family condo, as the area is heavily built up, lacks open spaces, and only has one school (Cantonment Primary) within one kilometre.
It is an affordable way to live in the heart of the CBD though, if you don’t mind the concrete jungle. 570 sq. ft. one-bedders have transacted for as low as $1.15 million here, while even the larger 904 sq. ft. units have transacted for $1.89 million. Given the recent blow to CCR properties (i.e., the 60 per cent ABSD for foreigners), it would be interesting to see if the prices stay muted for some time.
2. Hillview Park
It’s easy to see why prices at Hillview Park are on the rise. This freehold, 184-unit condo was built by CDL way back in 1995, when prices were low because of the poor accessibility. In 2015 however, Hillview MRT station (DTL) became operational. Subsequent upgrades to the nearby Rail Corridor also helped with the overall appeal.
This turnaround is quite well reflected in its transaction history. There’s a record of 91 profitable and 32 unprofitable transactions – but all of the unprofitable transactions date back to 2009 or earlier, back when this area would have been extremely “ulu.”
Today Hillview Park will appeal to outdoorsy families, who like the proximity to Bukit Timah Nature Reserve, The Rail Corridor, and Bukit Gombak Park (on the opposite side). HillV2 and The Rail Mall, whilst not the biggest retail malls, provide a good deal of nearby conveniences (e.g., there’s a Cold Storage at the Rail Mall and HillV2).
This being an older condo, units are also more spacious: In November this year, a 904 sq. ft. unit transacted for just $1.42 million, while in August a 1,431 sq. ft. unit transacted at $2.068 million. The age is also slightly mitigated by Hillview’s freehold status.
That said, this is still not the location for those who want big malls and dense urban living.
3. The Clift
The Clift is a leasehold, 312-unit project that was built in 2011. It’s in a very prominent area so we’re sure most of you have seen it before: it’s on McCallum Street, just a bit further down from the popular Amoy Street Hawker Centre.
This is smack in the middle of the CBD. You can walk from The Clift to the SGX Centre and Oxley Tower, and Lau Pa Sat is within walking distance too. There are three train lines nearby: Tanjong Pagar MRT (EWL) is the closest, followed by Telok Ayer (DTL) and Shenton Way (TEL). All in all, perfect for those who want to live within the CBD, and who never want to need a car or taxi.
Amenities are abundant since you’re in the downtown core, with lots of dining, retail, and entertainment options; although this part of the CBD can feel a bit dead during the weekends. (Honestly, though, you’re probably happy for the peace and quiet by then, as the rest of the week this area is jam-packed).
This is not a family condo, due to the heavy urban build-up, and the unit mix of one and two-bedders. It might appeal to landlords chasing rental yield and easy rentability though: the 500+ sq.ft. one-bedders have been transacting at barely above $1 million. Again though, we’d keep in mind the CBD has been bearing the brunt of ABSD hikes and a softening rental market.
4. Adelphi Park
This isn’t a condo, it’s a freehold landed estate close to Thomson Plaza, and the Upper Thomson MRT station (TEL). This makes it one of the rare landed enclaves that has easy access to a mall and train station.
The properties here are hard to generalise, as the mix of terrace, detached, and semi-detached units makes for a lot of variation. For example, units deeper in may not be within comfortable walking distance of Upper Thomson station or Thomson Plaza, whilst some others may be. This area is quite serene and private, and there’s also good access to outdoor spots like Windsor Nature Park, which links to the Central Water Catchment area.
As with most landed properties, you’ll tend to see a lower price psf, coupled with a very high quantum. The most recent transaction here, in November 2024, was only at $1,620 psf for a detached house; but given the 6,290 sq. ft. size, this came up to $10.19 million! We would brace for a typical quantum of $5.3 million or higher for this location, and for most of District 20.
5. Parc Vista
Parc Vista straddles the Boon Lay/Jurong Lake area, and was built long before Jurong’s transformation; so its first owners would have gotten a strong first movers’ advantage. This leasehold, 638-unit condo was built back in 1998, when the area was less attractive.
Today, the proximity to the transformed Jurong East area makes this a much more convenient place to live. Lakeside MRT is just across the road (EWL and two stops from Jurong East) and this provides access to major malls like IMM, JEM, J’den, and others. And, of course, it’s easy to head down to the scenic Jurong Lake area for a stroll.
The Boon Lay HDB enclave is also quite well-developed, with many coffee shops, minimarts, and heartland amenities. Boon Lay Shopping Centre, as well as the 505 Jurong West Market and Food Centre, are also close by.
The main issue that buyers may have is with the lease decay. This may explain why prices still look low, even though the earliest buyers have made their profits. In November of 2024, a 1,055 sq. ft. unit here transacted for a mere $1.24 million, while October saw a similar-sized unit sell for $1.228 million. Those seeking a family condo, and a resale one they can immediately move into, may find Parc Vista an interesting west-side option.
We wish all our readers a Merry Christmas and a Happy New Year! If you intend to house hunt in 2025, you can contact Stacked for help at any time. In the meantime, happy holidays!
