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JONATHAN TAN · Master Property Analysis
Singapore Condo Resale Analysis · Master Reference

Every transaction. Every comparison. Every finding.

A consolidated reference of 30+ head-to-head matched-pair comparisons across 15+ Singapore condo projects. Every claim backed by real URA caveat records. Use as a personal reference, or share with clients who want to see the data behind the 5-Factor Framework.

1,000+
URA Records
15+
Projects Analyzed
30+
Comparisons
100%
Profitable Resales
Section 01

How to read this reference

A working document — every comparison is a real matched URA caveat pair.

This is a master reference of every head-to-head matched-pair comparison I've built. Each project section contains 4–6 comparisons drawn from real URA caveat records, with matched purchase and sale windows (typically within 3 months of each other) so the only variable is the unit characteristic being tested — facing, floor, layout, bedroom count, or budget allocation. The same pattern shows up over and over: the unit you pick matters more than the project you pick.

Section 02

The 5-Factor Framework

The pattern that emerges across all 1,000+ records.

Every comparison below maps to one of these five factors. Factors 1–4 are about choosing the right unit at the right project. Factor 5 is the foundation that compounds every other factor.

The framework at a glance

  • Factor 1 — Facing. Pool/premium-facing units rarely justify their launch psf premium at resale. "Discounted" facings (PIE, AYE, main road) frequently outperform.
  • Factor 2 — Floor Height. Mid-floor (L6–15) is the sweet spot across every project. High-floor premiums evaporate at resale.
  • Factor 3 — MRT Distance. Mid-distance projects with full facilities consistently outperform MRT-adjacent boutique developments.
  • Factor 4 — Development Size. Mega-developments (1,000+ units) generate 2–3× the profit of boutique projects (150–250 units) in OCR/RCR.
  • ★ Factor 5 — Entry Price. The foundation. Bigger units launch at a lower psf, and the gap compresses at resale. Combining capital into one bigger unit consistently beats splitting into two smaller ones.
Project Deep Dive · 01

Penrose

Sims Drive · D14 · Sep 2020 launch · 566 units

PIE-facing units launched at a discount, pool-view units at a premium. Five years on, every resale is profitable — but the units that looked like the bargain at launch ended up earning the most. Floor matters less than stack, and the rear blocks performed best.

100/100 profitable resales
+8.08% p.a. 3BR avg
+2.76% p.a. 1BR avg
4 comparisons
Comparison 1 · Facing
PIE-facing 3BR beat Pool-facing 3BR on both absolute profit and return
★ Winner · PIE-facing
Blk 20 #18-08 · 958 sqft
Bought27 Sep 2020 · $1.43M
Buy psf$1,489
Sold02 Jan 2026 · $2.17M
Sale psf$2,265
+$744,000
+8.30% p.a. · 5y 3m
vs
Pool-facing Premium
Blk 22 #10-16 · 1,098 sqft
Bought30 Oct 2020 · $1.79M
Buy psf$1,633
Sold26 Feb 2026 · $2.47M
Sale psf$2,249
+$675,888
+6.19% p.a. · 5y 4m
Pool premium cost $144 psf more at launch but only sold $16 psf higher at exit. Cheaper PIE unit earned +$68K more profit and 2.11 pp higher return — despite being 140 sqft smaller.
Comparison 2 · Front vs Rear
Same launch week, same 936 sqft — Rear Sims-facing edged out Front PIE
PIE-facing · Front
Blk 22 #12-17 · 936 sqft
Bought27 Sep 2020 · $1.36M
Buy psf$1,453
Sold15 Jul 2025 · $2.00M
Sale psf$2,130
+$634,000
+8.29% p.a. · 4y 10m
vs
★ Winner · Rear Sims-facing
Blk 30 #11-29 · 936 sqft
Bought26 Sep 2020 · $1.44M
Buy psf$1,532
Sold06 Jan 2025 · $2.09M
Sale psf$2,231
+$653,888
+9.16% p.a. · 4y 3m
Rear paid $79 psf MORE at launch but exited $101 psf higher. Same 936 sqft, same launch week — rear unit earned 87 bp higher annualised return despite being further from front amenities.
Comparison 3 · Layout Battle
Rear Premium 3BR delivered the BEST return in the entire dataset
Front PIE 3BR
Blk 20 #14-08 · 958 sqft
Bought26 Sep 2020 · $1.40M
Buy psf$1,465
Sold07 Nov 2025 · $2.15M
Sale psf$2,244
+$747,000
+8.70% p.a. · 5y 1m
vs
★ Winner · Rear Premium 3BR
Blk 26 #05-22 · 1,055 sqft
Bought26 Sep 2020 · $1.56M
Buy psf$1,475
Sold12 Feb 2025 · $2.42M
Sale psf$2,293
+$862,888
+10.59% p.a. · Best in dataset
Same launch day, near-identical psf. Rear Premium 3BR delivered nearly 2 pp more annualised and +$116K more profit, despite Block 20 being front-facing and "cheaper" at launch.
Comparison 4 · Floor
High-floor premium halved on resale — low-floor returned more on lower capital
★ Winner · Level 2 (low)
Blk 26 #02-21 · 1,044 sqft
Bought27 Sep 2020 · $1.46M
Buy psf$1,402
Sold14 Mar 2025 · $2.28M
Sale psf$2,184
+$816,000
+10.44% p.a. · 4y 5m
vs
Level 7 (higher)
Blk 26 #07-21 · 1,044 sqft
Bought26 Sep 2020 · $1.55M
Buy psf$1,486
Sold27 Mar 2025 · $2.33M
Sale psf$2,227
+$773,000
+9.39% p.a. · 4y 6m
Level 7 cost $84 psf more at launch but only $43 psf more at exit — premium halved. Low-floor unit earned 1.05 pp higher return on lower capital.

Penrose — key findings

  • Buy discounted facing: PIE was $200 psf cheaper at launch → only $35 psf cheaper at resale (gap closed 82%).
  • Bigger units appreciate faster: 3BR +8.08% vs 1BR +2.76%.
  • Don't overpay for view premiums: pool-facing premium never recovered.
  • Quiet rear blocks performed best: 9 of top 10 units were in rear blocks.
  • Floor is overrated, stack is underrated: floor spread <1%, facing/stack spread 2–8%.
  • 100/100 resales profitable.
Project Deep Dive · 02

Clavon

Clementi Avenue 1 · D5 · Dec 2020 launch · 2 towers

Two facings: AYE-facing (south, expressway) cheaper, Quiet-facing (north) premium. Sea-view-eligible units at Level 30+ on AYE side paid both the high-floor and noise-facing premiums. Five years on, every resale profitable — but launch logic was reversed.

100/100 profitable resales
+6.02% p.a. L6-15 (best)
+4.37% p.a. L30+ Quiet (worst)
5 comparisons
Comparison 1 · Facing (2BR)
AYE-facing 2BR beat Quiet-facing 2BR on both metrics
★ Winner · AYE-facing
Blk 6 #13-03 · 764 sqft · L13
Bought12 Dec 2020 · $1.20M
Buy psf$1,570
Sold12 Feb 2025 · $1.54M
Sale psf$2,015
+$340,000
+6.16% p.a. · 4y 2m
vs
Quiet-facing
Blk 6 #19-06 · 764 sqft · L19
Bought13 Dec 2020 · $1.27M
Buy psf$1,666
Sold27 Jan 2025 · $1.56M
Sale psf$2,041
+$287,000
+5.05% p.a. · 4y 1m
AYE-facing paid $96 psf less at launch, earned $53K more profit, and 1.11 pp higher return. The noise discount was the better trade.
Comparison 2 · Facing (3BR) · Same Day Same PSF
Same launch day, identical launch psf — AYE 3BR vs Quiet 3BR
★ Winner · AYE-facing
Blk 6 #05-01 · 958 sqft · L5
Bought12 Dec 2020 · $1.48M
Buy psf$1,544
Sold25 Mar 2025 · $2.03M
Sale psf$2,119
+$551,000
+7.67% p.a. · 4y 3m
vs
Quiet-facing
Blk 8 #03-13 · 958 sqft · L3
Bought12 Dec 2020 · $1.48M
Buy psf$1,543
Sold24 Feb 2025 · $1.92M
Sale psf$2,004
+$442,000
+6.42% p.a. · 4y 2m
Identical launch psf (within $1). AYE resale psf was $115 psf HIGHER than quiet side. AYE earned 1.25 pp more + $109K more profit for same cheque.
Comparison 3 · Top Floor
Top-floor AYE seaview still beat top-floor Quiet — but both underperformed mid-floor
★ Edge · AYE Sea view
Blk 6 #34-02 · 678 sqft · L34
Bought12 Dec 2020 · $1.18M
Buy psf$1,733
Sold27 Mar 2026 · $1.47M
Sale psf$2,160
+$290,000
+4.26% p.a.
vs
Quiet · L36
Blk 8 #36-12 · 678 sqft · L36
Bought12 Dec 2020 · $1.18M
Buy psf$1,744
Sold12 Mar 2026 · $1.43M
Sale psf$2,101
+$242,000
+3.61% p.a.
Top floors returned <4.5% p.a., well below project average. Sea-view AYE beat quiet, but both lost to mid-floor units. Top floor was the wrong floor.
Comparison 4 · Floor (Same Stack 2BR)
Same stack, 12 floors apart — IDENTICAL dollar profit, low-floor better return-on-capital
★ Winner · Level 11
Blk 6 #11-03 · 764 sqft
Bought12 Dec 2020 · $1.19M
Buy psf$1,562
Sold03 Apr 2025 · $1.53M
Sale psf$2,002
+$336,000
+5.92% p.a. · 4y 3m
vs
Level 23 (higher)
Blk 6 #23-03 · 764 sqft
Bought12 Dec 2020 · $1.26M
Buy psf$1,647
Sold10 Jul 2025 · $1.60M
Sale psf$2,087
+$336,000
+5.30% p.a. · 4y 6m
Same stack, 12 floors apart. Dollar profits IDENTICAL. Level 11 deployed $65K less capital for same exit, earning 62 bp higher return-on-capital.
Comparison 5 · Floor (Same Stack 3BR)
3BR same stack — low floor beat high floor by $52K on smaller capital
★ Winner · Level 9
Blk 6 #09-01 · 958 sqft
Bought12 Dec 2020 · $1.50M
Buy psf$1,565
Sold23 Dec 2024 · $2.07M
Sale psf$2,159
+$569,000
+8.31% p.a. · 4y 0m
vs
Level 21 (higher)
Blk 6 #21-01 · 958 sqft
Bought12 Dec 2020 · $1.58M
Buy psf$1,652
Sold17 Jan 2025 · $2.10M
Sale psf$2,192
+$517,000
+7.13% p.a. · 4y 1m
Same stack, 12 floors apart, sold 25 days apart. L21 paid $87 psf more at launch; gap compressed to $33 psf at resale (62% compression). L9 earned 1.18 pp more + $52K more profit.

Clavon — key findings

  • Buy discounted facing — AYE was $65 psf cheaper at launch → $34 psf HIGHER at resale.
  • Bigger units appreciate faster: 5BR +7.86%, 1BR +4.16%.
  • Sea view is launch-day sticker, not resale driver — L30+ AYE underperformed mid-floor AYE by 1 pp.
  • Worst combination: high-floor quiet-facing — L30+ Quiet averaged +4.37% p.a., worst in dataset.
  • Mid-floor (L6–15) sweet spot: +6.02% p.a., beating all other bands.
  • 100/100 resales profitable.
Project Deep Dive · 03

Treasure at Tampines

Tampines Lane · D18 · 2019 launch · 2,203 units

Singapore's largest condo by unit count, with three facings: PIE (north), Pool/Central, Tampines St 11 (south). Developer raised prices mid-2020 — pre/post cohorts are kept separate for fair comparison. Six years on, every resale is profitable, but launch-day pricing order didn't survive resale.

143/143 profitable resales
+7.39% p.a. 4BR avg
+3.69% p.a. 2BR avg
6 comparisons
Comparison 1 · 2BR Facing
PIE-facing 2BR beat Tampines St 11 — even though Tampines St 11 was cheaper at launch
★ Winner · PIE-facing
Blk 53 #07-180 · 678 sqft
Bought25 Jul 2020 · $971,000
Buy psf$1,432
Sold12 Jun 2025 · $1.23M
Sale psf$1,814
+$259,000
+4.96% p.a. · 4y 11m
vs
Tampines St 11
Blk 11 #02-42 · 678 sqft
Bought15 Aug 2020 · $891,000
Buy psf$1,314
Sold04 Jun 2025 · $1.03M
Sale psf$1,519
+$139,000
+3.06% p.a. · 4y 9m
Tampines St 11 was cheaper at launch ($1,314 vs $1,432) — still lost by 1.90 pp annualised + $120K profit. Main-road frontage didn't materialise at resale.
Comparison 2 · 3BR Facing (Layout)
PIE-facing 3BR (smaller layout) beat Tampines St 11 (larger layout)
★ Winner · PIE · 915 sqft compact
Blk 53 #10-182
Bought29 May 2021 · $1.30M
Buy psf$1,423
Sold01 Oct 2025 · $1.71M
Sale psf$1,864
+$403,000
+6.40% p.a. · 4y 4m
vs
Tampines St 11 · 1,012 sqft larger
Blk 11 #12-43
Bought06 May 2021 · $1.56M
Buy psf$1,544
Sold29 Sep 2025 · $1.92M
Sale psf$1,898
+$358,000
+4.80% p.a. · 4y 4m
Tampines St 11 buyer wrote $260K bigger cheque for larger unit, came out $45K behind. PIE earned 1.60 pp more annualised despite smaller layout.
Comparison 3 · 3BR Facing (Same Size)
Pool/Central 3BR beat PIE — same launch day, same size, sold 12 days apart
★ Winner · Pool/Central
Blk 27 #05-97 · 1,033 sqft
Bought30 Jun 2020 · $1.39M
Buy psf$1,341
Sold26 Feb 2026 · $2.00M
Sale psf$1,935
+$614,008
+6.69% p.a. · 5y 8m
vs
PIE-facing
Blk 41 #07-134 · 1,033 sqft
Bought30 Jun 2020 · $1.35M
Buy psf$1,306
Sold10 Mar 2026 · $1.84M
Sale psf$1,781
+$490,800
+5.60% p.a. · 5y 8m
Same launch day, same 1,033 sqft. Pool/Central paid $35 psf more at launch, earned $154 psf more at exit and 1.09 pp more annualised. For family-sized units, Pool/Central position won.
Comparison 4 · 3BR Layout
Bigger 3BR (1,033 sqft) beat Compact 3BR (915 sqft) — same block, same facing
Compact 3BR · 915 sqft
Blk 49 #10-167
Bought23 Sep 2019 · $1.17M
Buy psf$1,279
Sold18 Jun 2025 · $1.60M
Sale psf$1,749
+$430,000
+5.60% p.a. · 5y 9m
vs
★ Winner · Bigger 3BR · 1,033 sqft
Blk 49 #12-170
Bought17 Jul 2019 · $1.37M
Buy psf$1,323
Sold09 Jun 2025 · $1.93M
Sale psf$1,868
+$563,000
+6.02% p.a. · 5y 11m
Bigger 3BR cost $197K more at launch, delivered +$133K more profit and 0.42 pp higher return. Extra 118 sqft was cheaper per sqft at resale.
Comparison 5 · 4BR Facing
Pool/Central 4BR beat PIE 4BR — same launch day
PIE-facing
Blk 37 #05-123 · 1,238 sqft
Bought27 Sep 2020 · $1.60M
Buy psf$1,290
Sold13 Feb 2026 · $2.28M
Sale psf$1,840
+$681,000
+6.82% p.a. · 5y 4m
vs
★ Winner · Pool/Central
Blk 31 #12-102 · 1,270 sqft
Bought27 Sep 2020 · $1.71M
Buy psf$1,348
Sold20 Apr 2026 · $2.52M
Sale psf$1,984
+$808,000
+7.19% p.a. · 5y 6m
Same launch day, larger format. Pool/Central cost $115K more, earned 0.37 pp more annualised + $127K more profit. For family units, Pool/Central is stronger.
Comparison 6 · ★ Budget Arbitrage
One 4BR vs Two 2BRs — the $276K diversification penalty
★ Winner · Buyer A · 1 × 4BR (Pool)
Blk 19 #07-70 · 1,324 sqft
Bought12 Aug 2019 · $1.79M
Buy psf$1,350
Sold29 Aug 2025 · $2.54M
Capital$1.79M
+$752,000
+5.97% p.a. · 6y 0m
vs
Buyer B · 2 × 2BR
Blk 47 #10-161 + Blk 35 #06-111
Unit 1 profit+$256K (Blk 47)
Unit 2 profit+$220K (Blk 35)
Capital$1.85M (combined)
Combined$476,000
+$476,000
+3.83% p.a. blended
Buyer A's single 4BR earned $276K more profit than Buyer B's two 2BRs — on slightly less capital. 4BR averaged +7.39% p.a. vs 2BR +3.69% in post-2020 cohort. The unit-size effect is the single most powerful lever.

Treasure at Tampines — key findings

  • Premium facing wasn't worth the cost: Tampines St 11 launched at $1,449 → +4.95% p.a. (worst). PIE launched at $1,398 → +5.76% p.a. (best).
  • Bigger units appreciate faster: +2 pp gap from 2BR to 4BR.
  • For 3BR/4BR, Pool/Central had the edge (Comparisons 3 & 5).
  • Bigger layout > compact layout within same bedroom count (Comparison 4).
  • Concentrate, don't split: Comparison 6 — one 4BR earned $276K more than two 2BRs.
  • 143/143 resales profitable.
Project Deep Dive · 04

High Park Residences

Fernvale Road · D28 · 2015 launch · 4 facings · 10-year hold

Four facings: Park (east), Pool (central), Fernvale Road (south), Sengkang West Way (west). A decade later every resale is profitable — but the developer's pricing logic was reversed. Cheapest at launch returned most; most expensive returned least.

100/100 profitable resales
+5.84% p.a. Park-facing (best block)
+4.70% p.a. Sengkang Way (worst)
5 comparisons
Comparison 1 · 3BR Facing
Park-facing 3BR beat Sengkang Way 3BR by +$194K
★ Winner · Park-facing
Blk 23 #11-14 · 980 sqft
Bought17 Oct 2016 · $953K
Buy psf$973
Sold22 Jul 2024 · $1.50M
Sale psf$1,531
+$546,888
+6.01% p.a. · 7y 9m
vs
Sengkang Way
Blk 31 #23-57 · 893 sqft
Bought27 Sep 2016 · $927K
Buy psf$1,038
Sold23 Jul 2024 · $1.28M
Sale psf$1,433
+$352,888
+4.21% p.a. · 7y 9m
Sengkang Way was 87 sqft smaller AND cost $65 psf more at launch — still lost. Park-facing earned 1.80 pp more annualised + $194K more profit.
Comparison 2 · 3BR Layout
Bigger 980 sqft beat Compact 872 sqft — same block, same facing
Compact 3BR · 872 sqft
Blk 29 #04-39 · Pool/Central
Bought17 Jul 2015 · $745K
Buy psf$854
Sold31 Jul 2025 · $1.32M
Sale psf$1,514
+$575,000
+5.86% p.a. · 10y 0m
vs
★ Winner · Bigger 3BR · 980 sqft
Blk 29 #12-38 · Pool/Central
Bought23 Aug 2015 · $840K
Buy psf$858
Sold26 Aug 2025 · $1.58M
Sale psf$1,613
+$739,980
+6.51% p.a. · 10y 0m
Same block, facing, launch month. 980 sqft layout priced at essentially same psf as compact. Extra 108 sqft cost $96K more, returned $165K more at exit.
Comparison 3 · 4BR Facing
Park-facing 4BR beat Pool/Central — same layout, same launch day
★ Winner · Park-facing
Blk 25 #05-22 · 1,227 sqft
Bought17 Jul 2015 · $1.02M
Buy psf$834
Sold06 Feb 2025 · $1.98M
Sale psf$1,614
+$957,000
+7.15% p.a. · 9y 7m
vs
Pool/Central
Blk 27 #07-31 · 1,227 sqft
Bought17 Jul 2015 · $1.11M
Buy psf$903
Sold07 Jan 2025 · $1.99M
Sale psf$1,622
+$882,000
+6.37% p.a. · 9y 6m
Cleanest controlled test — same 1,227 sqft 4BR, same launch day, sold within 30 days. Park-facing deployed $84K less capital upfront, earned +$75K more profit + 0.78 pp higher return. Pool premium paid at booking never recovered.
Comparison 4 · 5BR Facing
Park-facing 5BR earned the BEST return in the entire project (+7.53% p.a.)
★ Best in Project · Park 5BR
Blk 25 #23-19 · 1,679 sqft
Bought17 Jul 2015 · $1.30M
Buy psf$777 (cheapest in dataset)
Sold08 Oct 2024 · $2.55M
Sale psf$1,519
+$1,246,000
+7.53% p.a. · 9y 3m
vs
Pool/Central 5BR (smaller)
Blk 27 #09-30 · 1,399 sqft
Bought17 Jul 2015 · $1.24M
Buy psf$887
Sold07 Oct 2024 · $2.25M
Sale psf$1,611
+$1,013,888
+6.68% p.a. · 9y 3m
Same launch day. Park-facing paid $63K more for 280 sqft extra space, earned $232K more profit + best return in entire project. Block 25 was cheapest at launch because developer assumed pool view was preferred.
Comparison 5 · ★ Budget Arbitrage
One 5BR vs Two 2BRs — the $555K diversification penalty (biggest in any project)
★ Winner · Buyer A · 1 × 5BR (Park)
Blk 25 #23-19 · 1,679 sqft
Bought17 Jul 2015 · $1.30M
Sold08 Oct 2024 · $2.55M
Capital$1.30M
+$1,246,000
+7.53% p.a. · 9y 3m
vs
Buyer B · 2 × 2BR (Fernvale)
Blk 21 #15-08 + #12-04
Unit 1 profit+$368K (Blk 21 #15-08)
Unit 2 profit+$323K (Blk 21 #12-04)
Capital$1.35M (combined)
Combined$691K
+$690,888
+4.58% p.a. blended
Buyer A walked away with +$555,000 more profit than Buyer B — biggest budget-split penalty across all four projects. 5BR +6.50% p.a. vs 2BR +4.63% p.a. in entire dataset.

High Park Residences — key findings

  • Park-facing block was the best buy at every unit size (Park +5.84% vs Sengkang Way +4.70%).
  • Bigger units appreciate faster: 4BR +6.67%, 5BR +6.50%, 3BR +5.06%, 1BR +4.78%, 2BR +4.63%.
  • Don't pay small-unit psf premium: 1BR launched highest at $1,072 psf, returned worst.
  • Within bedroom count, bigger layout wins.
  • +$555K penalty for buying two 2BRs instead of one 5BR.
  • 100/100 resales profitable.
Project Deep Dive · 05

Whistler Grand

West Coast Vale · D5 · 2018 launch · 716 units · 36 storeys

Two facings: Pandan Reservoir (north) and City/AYE (south). Perfect testbed for the high-floor premium. Dataset: 94 profitable resales through May 2026. Floor matters more than facing here — and at scale, the difference is dramatic.

94/94 profitable resales
+6.07% p.a. L6-15 (sweet spot)
+5.11% p.a. L26+ (sky band)
6 comparisons
Comparison 1 · Reservoir · 2BR · 7 floors apart
L22 vs L29 — low floor edged out, premium evaporated to $2 psf
★ Winner · Level 22
Blk 107 #22-11 · 603 sqft
Bought15 Apr 2019 · $889K
Buy psf$1,474
Sold11 Mar 2025 · $1.17M
Sale psf$1,939
+$280,318
+4.75% p.a. · 5y 11m
vs
Level 29 (higher)
Blk 107 #29-11 · 603 sqft
Bought13 Apr 2019 · $910K
Buy psf$1,510
Sold14 Mar 2025 · $1.17M
Sale psf$1,941
+$259,560
+4.33% p.a. · 5y 11m
7 floors apart, sold within 3 days. L29 paid $36 psf more at launch; floor premium evaporated to within $2 psf at resale. L22 earned +$21K more profit + 0.42 pp higher return.
Comparison 2 · Reservoir · 2BR · 21 floors apart · MOST DRAMATIC
L14 vs L35 — penthouse premium cost two-thirds of itself
★ Winner · Level 14
Blk 107 #14-10 · 764 sqft
Bought10 Nov 2018 · $1.04M
Buy psf$1,366
Sold22 Jul 2024 · $1.45M
Sale psf$1,897
+$406,000
+5.93% p.a. · 5y 8m
vs
Level 35 (top)
Blk 107 #35-10 · 764 sqft
Bought04 Apr 2019 · $1.19M
Buy psf$1,557
Sold26 Jun 2024 · $1.50M
Sale psf$1,963
+$310,110
+4.53% p.a. · 5y 2m
Most dramatic floor spread in dataset (21 floors). L35 paid $191 psf more at launch — resale only paid back $66 psf. L14 earned +$96K more profit + 1.40 pp higher return.
Comparison 3 · Reservoir · 4BR · 2 floors apart (tight)
L7 vs L9 — 2 floors apart = essentially a tie
Level 7 (lower)
Blk 107 #07-02 · 1,281 sqft
Bought29 Dec 2018 · $1.59M
Buy psf$1,244
Sold05 Sep 2024 · $2.28M
Sale psf$1,780
+$686,400
+6.50% p.a. · 5y 8m
vs
Level 9 (higher)
Blk 107 #09-02 · 1,281 sqft
Bought11 Dec 2018 · $1.60M
Buy psf$1,251
Sold17 Oct 2024 · $2.30M
Sale psf$1,796
+$696,800
+6.36% p.a. · 5y 10m
When floor spread is only 2 storeys, it's essentially a tie (0.14 pp difference). Floor only matters at scale.
Comparison 4 · City/AYE · 2BR · 8 floors apart
L19 vs L27 — same pattern on AYE side
★ Winner · Level 19
Blk 109 #19-14 · 614 sqft
Bought09 Aug 2020 · $923K
Buy psf$1,505
Sold22 Jan 2025 · $1.14M
Sale psf$1,850
+$211,680
+4.74% p.a. · 4y 5m
vs
Level 27 (higher)
Blk 109 #27-14 · 614 sqft
Bought04 Nov 2020 · $954K
Buy psf$1,554
Sold27 Jan 2025 · $1.14M
Sale psf$1,858
+$186,400
+4.31% p.a. · 4y 2m
Same pattern as Reservoir. L27 paid $49 psf more; resale gave back only $8 psf. L19 earned +$25K more profit + 0.43 pp higher return.
Comparison 5 · City/AYE · 4BR · 25 floors apart · EXTREME SPREAD
L6 vs L31 — best return in entire project came from the LOW floor
★ Best in Project · Level 6
Blk 107 #06-03 · 1,281 sqft
Bought18 Dec 2020 · $1.66M
Buy psf$1,293
Sold10 Apr 2026 · $2.52M
Sale psf$1,967
+$864,000
+8.22% p.a. ★ BEST
vs
Level 31 (top-tier)
Blk 107 #31-03 · 1,281 sqft
Bought16 Aug 2020 · $1.86M
Buy psf$1,452
Sold01 Apr 2026 · $2.56M
Sale psf$1,996
+$697,128
+5.82% p.a. · 5y 7m
Most dramatic floor comparison across ALL 5 projects. 25 floors apart. L31 paid $159 psf MORE at launch; gap compressed to $29 psf at resale (82% evaporation). L6 earned +$167K more profit + 2.40 pp more annualised — and best return in entire project.
Comparison 6 · City/AYE · 2BR · 12 floors apart
L7 vs L19 — mid-range floor gap confirms pattern
★ Winner · Level 7
Blk 109 #07-15 · 764 sqft
Bought06 Mar 2019 · $1.06M
Buy psf$1,381
Sold11 Jul 2025 · $1.42M
Sale psf$1,858
+$364,570
+4.78% p.a. · 6y 4m
vs
Level 19 (higher)
Blk 109 #19-15 · 764 sqft
Bought10 Jun 2019 · $1.12M
Buy psf$1,465
Sold09 Jun 2025 · $1.46M
Sale psf$1,910
+$340,580
+4.52% p.a. · 6y 0m
12 floors apart, sold within 32 days. L19 paid $84 psf more; gap compressed to $52 psf at resale. L7 earned +$24K more profit + 0.26 pp higher return.

Whistler Grand — key findings

  • Floor matters more than facing here: Reservoir +5.47% vs City/AYE +5.28% = 0.19 pp gap. Mid-floor L6-15 +6.07% vs sky-band L26+ +5.11% = 0.96 pp gap.
  • The 8-floor rule: 2 floors = tie. 7–12 floors = 0.26–0.43 pp. 21–25 floors = 1.40–2.40 pp. Floor only matters at scale.
  • Mid-floor sweet spot (L6–15) beat all other bands — same lesson as every other project.
  • Developer's "sky band" tax is real: L1-5 $1,293 psf vs L26+ $1,530 psf at launch; gap compressed to $108 psf at resale.
  • Bigger units appreciate faster: 3BR +6.74%, 4BR +6.69%, 2BR +4.63%.
  • 94/94 resales profitable.
Cross-Project Comparison · 01

Sims Urban Oasis vs Tre Residences

Sims: 450m to Aljunied MRT · 1,024 units · 23,900 sqm / Tre: 200m to MRT · 250 units · 6,238 sqm

Both launched 2014 in the same district at near-identical psf (~$1,355 vs $1,381). Sims is 4× the land, 4× the unit count, full condo facilities. Tre is compact, convenient, basic mixed-use. Over 11 years, Sims buyers made 2× the average profit. The "convenience premium" never materialised.

+$441K Sims avg profit
+$220K Tre avg profit
2× more profit from Sims
5 comparisons
Comparison 1 · 3BR Same Purchase Day
Sims 3BR vs Tre 3BR — Sims won by $211K despite Tre's MRT proximity
★ Winner · Sims Urban Oasis 3BR
Blk 4 #11-20 · 1,023 sqft
Bought22 Oct 2017 · $1.42M
Buy psf$1,389
Sold03 Oct 2022 · $1.75M
Sale psf$1,711
+$330,000
+4.31% p.a. · 5y 0m
vs
Tre 3BR (smaller, pricier psf)
Blk 7 #09-02 · 861 sqft
Bought22 Oct 2017 · $1.23M
Buy psf$1,430
Sold06 Oct 2022 · $1.35M
Sale psf$1,568
+$119,000
+1.88% p.a. · 5y 0m
Identical purchase day, 3-day sale gap. Sims earned +$211K more profit. Tre's "convenient" location didn't translate to resale premium.
Comparison 2 · 3BR Sold Same Day — CLEANEST TEST
Both sold 06 Dec 2024 — Sims earned $317K more on near-identical launch psf
★ Winner · Sims Urban Oasis 3BR
Blk 18 #17-63 · 1,033 sqft
Bought17 Jul 2017 · $1.46M
Buy psf$1,416
Sold06 Dec 2024 · $2.12M
Sale psf$2,052
+$656,400
+5.14% p.a. · 7y 5m
vs
Tre 3BR (same launch psf)
Blk 7 #11-02 · 861 sqft
Bought30 Jun 2017 · $1.22M
Buy psf$1,418
Sold06 Dec 2024 · $1.56M
Sale psf$1,812
+$339,000
+3.35% p.a. · 7y 5m
Same exit day. Near-identical launch psf ($1,416 vs $1,418). Sims resold at $240 psf higher ($2,052 vs $1,812). Sims earned +$317K more profit.
Comparison 3 · 4BR Matched Window
Sims 4BR earned $195K more profit on same launch psf
★ Winner · Sims 4BR
Blk 16 #07-59 · 1,206 sqft
Bought11 Jun 2017 · $1.61M
Buy psf$1,334
Sold13 Sep 2022 · $1.98M
Sale psf$1,642
+$371,570
+4.03% p.a. · 5y 3m
vs
Tre 4BR
Blk 9 #08-10 · 947 sqft
Bought13 Jun 2017 · $1.27M
Buy psf$1,345
Sold23 Sep 2022 · $1.45M
Sale psf$1,531
+$176,000
+2.48% p.a. · 5y 3m
Same launch psf. Same product category. Sims resold at $111 psf higher. Sims earned +$195K more profit.
Comparison 4 · 3BR Matched Quantum
10% bigger cheque returned 2.3× the profit
★ Winner · Sims 3BR
Blk 8 #11-29 · 958 sqft
Bought15 Apr 2017 · $1.30M
Buy psf$1,361
Sold09 Oct 2024 · $1.85M
Sale psf$1,931
+$546,500
+4.79% p.a. · 7y 5m
vs
Tre 3BR
Blk 7 #02-02 · 861 sqft
Bought17 Mar 2017 · $1.18M
Buy psf$1,367
Sold16 Sep 2024 · $1.41M
Sale psf$1,637
+$233,000
+2.44% p.a. · 7y 5m
10% larger capital deployment, near-identical launch psf — Sims returned 2.3× the profit ($313K more).
Comparison 5 · Tre 4BR vs Sims 3BR · BIGGER FLOORPLATE WINS
Sims 3BR (1,033 sqft) beat Tre's 4BR (947 sqft) — bigger floorplate > more bedrooms
★ Winner · Sims 3BR (1,033 sqft)
Blk 18 #13-63
Bought13 Apr 2017 · $1.42M
Buy psf$1,371
Sold02 Oct 2025 · $2.23M
Sale psf$2,156
+$811,800
+5.49% p.a. · 8y 5m
vs
Tre 4BR (947 sqft · smaller!)
Blk 9 #13-10
Bought15 Apr 2017 · $1.30M
Buy psf$1,376
Sold19 Sep 2025 · $1.82M
Sale psf$1,916
+$512,000
+4.01% p.a. · 8y 5m
Bigger floorplate (1,033 vs 947 sqft) beat more bedrooms (3BR vs 4BR). Sims resold at $240 psf higher. +$299K more profit.

Sims vs Tre — key findings

  • Sims made 2× the average profit ($441K avg vs $220K avg).
  • Land size (23,900 vs 6,238 sqm), facilities, and liquidity beat MRT proximity (200m vs 450m).
  • Project-wide psf trajectory 2014→2026: Sims +55%, Tre +39%. Tre launched $26 psf higher; Sims now trades $184 psf higher (gap reversed and widened).
  • Bigger floor plates win even within the same bedroom count.
  • MRT premium was launch-day sticker, not resale driver.
Cross-Project Comparison · 02

Midtown Residences vs Riverfront Residences

Midtown: At Hougang MRT · 160 units · 5,300 sqm / Riverfront: 12-min walk · 1,472 units · 113,378 sqm (21× larger)

Midtown built right at MRT; Riverfront a 12-minute walk away with sprawling facilities. Midtown launched 5 years earlier at higher psf. Riverfront buyers made 3.5× the average profit despite the less convenient location and later launch.

+$331,651 Riverfront avg profit
+$94,238 Midtown avg profit
3.5× more from Riverfront
4 comparisons
Comparison 1 · 2BR Same Purchase Period
Riverfront won despite Midtown's cheaper entry AND longer hold AND MRT proximity
★ Winner · Riverfront 2BR
Blk 53 #15-64 · 721 sqft
Bought09 Sep 2021 · $1.04M
Buy psf$1,442
Sold26 Sep 2025 · $1.27M
Sale psf$1,761
+$230,000
+5.06% p.a. · 4y 0m
vs
Midtown 2BR (cheaper, longer hold)
Blk 1189 #10-06 · 646 sqft
Bought04 Jun 2021 · $880K
Buy psf$1,363
Sold06 Mar 2026 · $1.04M
Sale psf$1,610
+$160,000
+3.57% p.a. · 4y 9m
Midtown had cheaper entry, held 9 months longer, AND was at MRT — still lost. Riverfront won +$70K more profit. Every theoretical advantage favoured Midtown; Riverfront still won.
Comparison 2 · 2BR Matched Sale Window
Midtown held 5 YEARS longer and still underperformed by $261K
★ Winner · Riverfront 2BR
Blk 45 #11-31 · 721 sqft
Bought05 Jul 2018 · $935K
Buy psf$1,296
Sold11 Jul 2025 · $1.38M
Sale psf$1,914
+$445,000
+5.70% p.a. · 7y 0m
vs
Midtown 2BR (11.5y hold)
Blk 1189 #04-01 · 646 sqft
Bought07 Oct 2013 · $816K
Buy psf$1,264
Sold04 Apr 2025 · $1.00M
Sale psf$1,548
+$183,950
+1.78% p.a. · 11y 6m
Midtown held for 11+ years and still underperformed Riverfront's 7-year hold by +$261K profit. Launch timing advantage wiped out by project fundamentals.
Comparison 3 · 2BR (Midtown unit is BIGGER)
Riverfront 614 sqft beat Midtown 710 sqft despite being 96 sqft smaller
★ Winner · Riverfront 2BR (614 sqft)
Blk 45 #11-30
Bought05 Jul 2018 · $828K
Buy psf$1,350
Sold20 May 2025 · $1.11M
Sale psf$1,809
+$282,000
+4.35% p.a. · 6y 10m
vs
Midtown 2BR (710 sqft · bigger!)
Blk 1189 #03-09
Bought10 May 2013 · $949K
Buy psf$1,336
Sold09 Jan 2025 · $1.10M
Sale psf$1,548
+$150,600
+1.27% p.a. · 11y 8m
Riverfront's smaller, cheaper unit earned +$131K more profit. Midtown's extra size didn't translate to better return.
Comparison 4 · 1BR (sold 38 days apart · TIGHTEST MATCH)
Riverfront 1BR beat Midtown 1BR by $107K — Midtown held 5 years longer
★ Winner · Riverfront 1BR
Blk 45 #02-30 · 517 sqft
Bought05 Jul 2018 · $658K
Buy psf$1,274
Sold04 Aug 2025 · $825K
Sale psf$1,597
+$167,000
+3.21% p.a. · 7y 1m
vs
Midtown 1BR (smaller, 12y hold)
Blk 1189 #03-04 · 484 sqft
Bought01 Jul 2013 · $687K
Buy psf$1,418
Sold27 Jun 2025 · $746K
Sale psf$1,540
+$59,100
+0.69% p.a. · 11y 11m
Riverfront's 33-sqft-smaller unit earned +$107K more profit, despite Midtown holding 5 years longer.

Midtown vs Riverfront — key findings

  • Riverfront made 3.5× the average profit ($331K vs $94K avg).
  • Sprawling site (21× the land) and full facilities beat MRT-adjacent location (10-min walk further).
  • Mixed-use development (Midtown) underperformed residential-only (Riverfront).
  • Project psf trajectory: Midtown +16% over 2013→2025; Riverfront +38% over 2018→2025. Newer launch grew faster despite later entry.
  • Bigger buyer pool (1,472 vs 160 units) = better resale liquidity.
Cross-Project Comparison · 03

The Florence Residences vs Riverbank @ Fernvale

Florence: Hougang · 1,410 units · 2019 launch / Riverbank: Sengkang (Fernvale) · 555 units · 2014 launch

On paper Florence should win: bigger development, newer product, and Hougang is the "better" address than Fernvale. The data says otherwise. The older resale condo grew faster in percentage terms since launch (+41.5% vs +38.7%) — and since the 2023 subsale window, Riverbank has grown at nearly double Florence's pace (+18.3% vs +9.6%). The engine behind it: Sengkang's BTO upgrader wave, for whom a $1.3–1.5M quantum is the natural landing spot.

+41.52% Riverbank psf 2019→2026
+38.69% Florence psf 2019→2026
+18.25% vs +9.58% psf growth 2023→2026 — Riverbank ~2×
$423K vs $391K avg 3BR profit — on $476K less capital
Average PSF Trend · 2014–2026 (ProTrend, URA caveats)
Gold = The Florence Residences · Green = Riverbank @ Fernvale · dashed markers show the 2019 launch-window and 2023 subsale-window anchor points
$1,968$1,700$1,430$1,160$900 2014201620182020202220242026 2019 · Florence launch 2023 · subsale window $1,419 $1,796 $1,968 $1,067 $1,277 $1,510 2023→26: +9.58% 2023→26: +18.25%
Source: PropNex Investment Suite ProTrend, yearly average condo (sale) psf, generated 06 Jul 2026. Florence 2019→2026: $1,419 → $1,968 (+38.69%). Riverbank 2019→2026: $1,067 → $1,510 (+41.52%). From the 2023 subsale window: Florence $1,796 → $1,968 (+9.58%); Riverbank $1,277 → $1,510 (+18.25%).
Comparison 1 · 3BR · bought 5 DAYS apart (Sep 2020) · HEADWIND WIN
Riverbank sold 3.5 months earlier and still made +$182K more
★ Winner · Riverbank 3BR (sold earlier = disadvantage)
Blk 17 #19-35 · 1,044 sqft
Bought17 Sep 2020 · $1.26M
Buy psf$1,206
Sold07 Jan 2026 · $1.68M
Sale psf$1,609
+$421,112
+5.59% p.a. · 5y 4m
vs
Florence 3BR (sold 3.5 months later, into a higher market)
Blk 95 #03-65 · 936 sqft
Bought12 Sep 2020 · $1.36M
Buy psf$1,453
Sold23 Apr 2026 · $1.60M
Sale psf$1,709
+$239,000
+2.92% p.a. · 5y 7m
Bought the same week of Sep 2020. Riverbank exited 3.5 months earlier — a timing disadvantage in a rising market — and still walked away with +$182K more profit at nearly double the annualised return (5.59% vs 2.92%). When the winner wins with a headwind, the gap is real.
Comparison 2 · 3BR · bought 28 days apart (Apr–May 2021) · HEADWIND WIN
Florence held 7 months longer, sold $510 psf higher — and still made $141K less
★ Winner · Riverbank 3BR (sold 6.7 months earlier = disadvantage)
Blk 15 #06-26 · 1,044 sqft
Bought05 Apr 2021 · $1.13M
Buy psf$1,080
Sold13 Aug 2025 · $1.55M
Sale psf$1,485
+$422,000
+7.56% p.a. · 4y 4m
vs
Florence 3BR (held 7 months longer, exited $510 psf higher)
Blk 89 #09-39 · 915 sqft
Bought03 May 2021 · $1.54M
Buy psf$1,688
Sold03 Mar 2026 · $1.83M
Sale psf$1,995
+$281,000
+3.52% p.a. · 4y 10m
Bought 28 days apart. Florence's entry psf was 56% higher ($1,688 vs $1,080), it held 7 months longer into a rising market and exited $510 psf higher — yet still made $141K less at less than half the annualised return (3.52% vs 7.56%). The same Riverbank unit also beat a third Florence unit (Blk 95 #09-65, bought Dec 2019 at launch, sold 7 days apart in Aug 2025) by +$241K.
Comparison 3 · 3BR · Riverbank bought 16 months LATER, sold 50 days earlier · DOUBLE-HEADWIND WIN
Riverbank gave up 16 months of entry timing AND 50 days of exit timing — still won by $89K
★ Winner · Riverbank 3BR (bought 16 mo later + sold 50d earlier = double disadvantage)
Blk 13 #05-17 · 1,012 sqft
Bought04 Jan 2022 · $1.13M
Buy psf$1,117
Sold04 Mar 2026 · $1.46M
Sale psf$1,441
+$328,000
+6.31% p.a. · 4y 2m
vs
Florence 3BR (16-month earlier entry, 50-day later exit)
Blk 95 #03-65 · 936 sqft
Bought12 Sep 2020 · $1.36M
Buy psf$1,453
Sold23 Apr 2026 · $1.60M
Sale psf$1,709
+$239,000
+2.92% p.a. · 5y 7m
Riverbank entered 16 months later in a rising market and exited 50 days earlier — both timing handicaps — yet still made +$89K more at more than twice the annualised rate (6.31% vs 2.92%). Its Jan-2022 entry psf ($1,117) was still $336 cheaper than Florence's Sep-2020 price ($1,453). This is the same Florence unit from Comparison 1 — beaten twice, by two different Riverbank units.
Comparison 4 · 3BR · same $350K profit · bought 60 days apart
Identical profit — Florence needed $1.62M to do what Riverbank did with $1.0M
★ Winner on efficiency · Riverbank 3BR
Blk 15 #06-22 · 947 sqft
Bought21 Oct 2021 · $1.00M
Buy psf$1,056
Sold05 Jun 2026 · $1.35M
Sale psf$1,425
+$350,000
+6.70% p.a. · 4y 7m
vs
Florence 3BR (62% more capital, same profit)
Blk 91 #04-47 · 1,012 sqft
Bought22 Aug 2021 · $1.62M
Buy psf$1,601
Sold30 Jan 2026 · $1.97M
Sale psf$1,947
+$350,000
+4.50% p.a. · 4y 5m
Same dollar profit to the dollar — but Riverbank tied it up with 62% less capital (+6.70% p.a. vs +4.50%). Note: the Riverbank unit sold ~4 months later, so treat this pair as directional support rather than a clean match — the capital-efficiency gap is far larger than 4 months of market movement explains.

Florence vs Riverbank — key findings

  • The older, smaller, "worse-located" project outperformed on every % metric: +41.52% vs +38.69% psf since 2019, and +18.25% vs +9.58% since the 2023 subsale window — nearly 2× the growth rate over the last three years.
  • Average 3BR resale profit: Riverbank $423K vs Florence $391K — achieved on an average entry of $1.04M vs $1.52M. More profit, ~$476K less capital.
  • The BTO upgrader engine: Sengkang has one of Singapore's largest pools of maturing BTOs. A typical BTO seller walks away with roughly $500–600K in proceeds — which comfortably bridges into a $1.3–1.5M Riverbank 3BR, but stretches painfully toward a $1.9–2.1M Florence 3BR. Every year another cohort of MOPs feeds the same buyer pool.
  • Demand depth beats product quality. Florence is newer, bigger, and better-located — but the number of buyers who can afford $2M is a fraction of those who can afford $1.5M. More eligible buyers per available unit pushes price faster.
  • Same pattern as Midtown vs Riverfront: the theoretically superior project lost to the one with the deeper buyer pool. Quantum sweet spot is a 5-Factor input, not a footnote.
Swap Strategy · 01

Lakefront → Whistler Grand

14-year journey · Holder vs Swapper · Both exited within 42 days of each other

Two buyers bought identical Lakefront 3BR units on the same day in Dec 2010 for $1.115M. One held 14 years. The other sold in 2018 at Lakefront's then-average ($1.52M), bought brand-new Whistler Grand 3BR ($1.44M), and sold it in Jan 2025. Both exited within 42 days of each other.

+$825K Holder profit
+$1.17M Swapper profit
+$344K Swap edge
$85K leftover from sale (no top-up)
Path Comparison · Holder vs Swapper
Both started identical. One swapped mid-journey. $344K edge.
Path A · The Holder
Lakefront 3BR · 1,216 sqft · $1.115M
Held14 years (2010 → 2024)
Sold13 Dec 2024 · $1.94M
Exit psf$1,595
ConditionsCooling measures + Covid + ABSD
+$825,000
14-year hold
vs
★ Winner · The Swapper
Lakefront 2010-2018 → Whistler 2018-2025
Lakefront leg$1.115M → $1.52M = +$405K
Whistler buy17 Dec 2018 · $1.435M (1,066sf)
Leftover cash+$85K (no top-up)
Whistler sale24 Jan 2025 · $2.20M ($2,064 psf)
+$1,169,680
Combined journey
Advantage: Swapper by +$344,680 extra profit. Both exited within 42 days of each other. After transaction costs (~$80K), Swapper edge is ~$264K. Critical caveat: ABSD timing must be "sell first, then buy" sequencing — poor timing could add $287K ABSD cost.

Why the Swapper won

  • Buyers chase new. Whistler (2018, new) beat Lakefront (8 years old) despite being further from MRT.
  • Lakefront stalled 2018–2024: 28% gain over 6 years vs Whistler's 53% gain in same window.
  • Whistler had runway. Launched $1,347 psf vs Lakefront's 2018 resale market at $1,250 psf.
  • 3BR-to-3BR, no top-up. Sale funded purchase + $85K leftover.
  • MRT-proximity didn't drive price. $1,250 → $1,595 psf (28%) for MRT-adjacent vs $1,347 → $2,064 psf (53%) for further-out new project.
Swap Strategy · 02

Sky Habitat → JadeScape

11.3-year journey · Holder vs Swapper · Both exited within 2 days of each other

Two buyers bought identical Sky Habitat 3BR units on the same day in May 2013 for $1.77M. One held 11.2 years. The other sold in 2019 at Bishan's then-average ($1.87M), bought brand-new JadeScape 3BR ($1.73M), and sold it in Aug 2024. Both exited within 2 days of each other.

+$539K Holder profit
+$868K Swapper profit
+$329K Swap edge
$145K leftover from sale (no top-up)
Path Comparison · Holder vs Swapper
Sky Habitat MRT-adjacent vs JadeScape further-out — $329K edge to Swapper
Path A · The Holder
Sky Habitat 3BR · 1,249 sqft · $1.77M
Held11 years 3 months (2013 → 2024)
Sold26 Aug 2024 · $2.31M
Exit psf$1,848
PositionMRT-adjacent + Junction 8
+$539,310
11.3-year hold
vs
★ Winner · The Swapper
Sky Habitat 2013-2019 → JadeScape 2019-2024
Sky Habitat leg$1.77M → $1.87M = +$106K
JadeScape buy28 Apr 2019 · $1.73M (1,055sf)
Leftover cash+$145K (no top-up)
JadeScape sale28 Aug 2024 · $2.49M ($2,360 psf)
+$868,030
Combined journey
Advantage: Swapper by +$328,720 extra profit. Both exited within 2 days of each other. Even with less amenities and further from MRT, the brand-new project with full facilities outperformed the mature MRT-adjacent property.

Why the Swapper won

  • Buyers chase new. JadeScape (2019) beat Sky Habitat (6 years old) despite less convenience.
  • Sky Habitat stalled 2013–2018: only +$106K profit over 5 years.
  • JadeScape had runway. Launched $1,638 psf vs Sky Habitat 2019 resale at ~$1,500 psf.
  • 3BR-to-3BR, no top-up. Sale funded purchase + $145K leftover.
  • MRT-proximity gap: $1,500 → $1,848 psf (23%) for MRT-adjacent vs $1,638 → $2,360 psf (44%) for further-out new project.
Supply Data

HDB MOP Pipeline 2026–2035

Where the next decade of upgrader demand comes from — interactive, by town and flat type.

Every BTO flat is locked for a 5-year Minimum Occupation Period from key collection. Roughly 190,000 flats cross that line between 2026 and 2035. MOP 2026–2031 is built from every completed HDB block on record (the 2026 cohort reconciles to 13,484 units exactly); 2032–2035 is compiled from announced BTO launches and estimated completion dates. Filter by year and flat type to see which towns release the most sellable stock.

Open the MOP Pipeline Table →

Section 11

Consolidated Patterns Across All Projects

The 7 findings that repeat across every analysis.

After analyzing 1,000+ URA caveats across 12 condos, these are the patterns that show up over and over. Same project, same year — profit gaps of $100K-$500K are routine. The unit you pick decides which side of that gap you end up on.

Pattern 01 · High-floor premium evaporates

  • Developers charge $75–$191 psf for high floors at launch.
  • Resale market gives back $8–$66 psf — often 50–80% premium evaporation.
  • Low-floor units consistently earn better return-on-capital.
  • Most dramatic: Whistler L6 vs L31 (25 floors apart): L6 earned +$167K more profit + 2.40 pp annualised return + project's BEST return overall.

Pattern 02 · "Discounted" facing becomes the profit

  • Expressway/PIE-facing units launch cheaper.
  • Resale market reprices them equal to or HIGHER than premium facings.
  • Penrose PIE beat Pool +$68K; Clavon AYE beat Quiet +$109K; Treasure PIE beat Tampines St 11 +$120K.
  • The noise/distance discount IS the return.

Pattern 03 · MRT-proximity premium is launch-day sticker only

  • Sims (450m to MRT) beat Tre (200m to MRT) by 2× profit.
  • Riverfront (12-min walk) beat Midtown (at MRT) by 3.5× profit.
  • Lakefront/Whistler + Sky Habitat/JadeScape swaps: brand-new further-away projects beat MRT-adjacent aged projects.
  • Pattern: brand-new + facilities beats MRT proximity as you age through cycle.

Pattern 04 · Bigger units appreciate faster (%)

  • 3-5BR units average 6-8% p.a.; 1-2BR units average 2-4% p.a.
  • Treasure: 4BR +7.39% p.a. vs 2BR +3.69% p.a. = 3.7 pp gap.
  • High Park: 4BR +6.67%, 5BR +6.50%, 3BR +5.06%, 1BR +4.78%, 2BR +4.63%.
  • Whistler: 3BR +6.74% vs 2BR +4.63% = 2 pp gap, largest of any project.

Pattern 05 · Within bedroom count, bigger layout > compact layout

  • Treasure: bigger 3BR (1,033 sqft) beat compact 3BR (915 sqft) by +$133K, +0.42 pp.
  • High Park: bigger 3BR (980 sqft) beat compact 3BR (872 sqft) by +$165K, +0.65 pp.
  • Sims: 3BR (1,033 sqft) beat Tre 4BR (947 sqft) by +$299K — space > bedrooms.
  • Compact layouts hit a ceiling because unit quantum can't stretch.

Pattern 06 · Mid-floor (L6-15) sweet spot across ALL projects

  • Clavon: L6-15 +6.02% p.a. — beats L1-5, L16-25, L26+, L31+.
  • Whistler: L6-15 +6.07% p.a. — beats sky-band L26+ at only +5.11%.
  • Insight: mid-floor clears noise/activity, avoids developer's high-floor tax.
  • Replicated across every project analyzed.

Pattern 07 · The "concentrate vs split" rule · ★ THE BIGGEST LEVER

  • Treasure: 1 × 4BR earned +$276K more than 2 × 2BR on same budget.
  • High Park: 1 × 5BR earned +$555K more than 2 × 2BR on same budget (biggest gap in any analysis).
  • Why bigger units launch at lower psf, catch up faster on resale, attract sticky family buyers, and have stronger resale liquidity.
  • Combining capital is the single most powerful lever in the framework.

★ The bottom line

  • All 437+ resales across all 5 deep-dive projects were profitable. Singapore property at fundamentals-strong projects works.
  • But profit gaps of $100K-$500K between buyers at the same project are routine.
  • The question isn't whether to buy. It's which unit, at which entry price.
  • Unit choice can swing annualised return by 4-7 percentage points and absolute profit by $100K-$600K.
  • The 5-Factor Framework exists to put you on the right side of every one of these comparisons.