5 “Benchmark” Condos in Singapore You Should Know About

Authored by Raymond Tiah

Singapore’s property market is always evolving, and certain condos have emerged as unofficial "benchmarks" to help buyers and investors gauge the health of different districts. These condos stand out for their impressive returns, location advantages, or resilience in the face of market fluctuations. Understanding these properties can provide valuable insights for anyone looking to make informed real estate decisions.

1. Rivergate

According to Square Foot Research, Rivergate has recorded 431 profitable transactions and only one loss in the last five years.

In 2006, its sub-sale price was $1,336 psf, compared to Watermark’s $1,073 psf, yet Rivergate buyers achieved an impressive annualized return of 3.35%.

Tribeca, with an initial price of $1,422 psf in 2006, has seen weaker performance, with 144 profitable and 15 unprofitable transactions, despite being only 300 meters from Rivergate.

2. Ardmore Park

In October 2017, Ardmore Park achieved a $4.25 million profit on a four-bedroom unit sold for $9.6 million after a 15.5-year holding period.

In February 2024, another 2,885 sq. ft. unit sold for $12.9 million, yielding a $7.07 million profit from a 1996 purchase. Despite some losses, Ardmore Park remains a top performer among older luxury condos, with an average price of $4,304 psf and 31 profitable transactions.

However, recent cooling measures may complicate collective sales, especially since 31% of ownership is foreign. Overall, Ardmore Park is expected to maintain its status as a luxury benchmark.

3. Leedon Residence

Leedon Residence is the benchmark for condos in Holland Village, maintaining its status despite competition from nearby developments like Leedon Green.

Completed in 2015, this 381-unit project recently reached a new high of $2,909 psf, with average prices at $2,663 psf, boasting 51 profitable transactions and only seven minor losses. Its large land area of 522,322 sq. ft. provides spaciousness, in contrast to D’Leedon’s 1,715 units and average price of $1,959 psf.

This complementary relationship highlights Leedon Residence as the more luxurious option. Its well-designed spacing and amenities make it resilient to market oversupply, solidifying its reputation as the top luxury condo in the area.

4. Park Infinia at Wee Nam

Park Infinia, launched in 2007, quickly gained fame as the largest condo in the Newton area, offering a full suite of amenities like a gym, clubhouse, and lap pool. With 486 units, it's considered large for the densely packed neighborhood, despite being on the smaller side overall.

Sales were rocky due to the Global Financial Crisis, but buyers of larger units have seen strong returns. As of 2024, it still stands out for spacious living in Newton, though prices are high, with typical 1,464 sq. ft. units often exceeding $3.3 million.

5. Maple Woods

Maple Woods is an iconic Bukit Timah condo known for its spacious units and grounds (593,779 sq. ft.), located next to King Albert Park and Methodist Girls’ School. Built in 1997, it’s freehold, avoiding lease decay issues.

The condo gained notoriety when residents petitioned to move the nearby Downtown Line station, emphasizing their concerns about proximity. Since the MRT’s completion, Maple Woods has seen renewed interest, including a notable $2.63 million profit from a unit sale in 2021. Currently, larger units around 1,496 sq. ft. sell for about $3.2 million, while smaller units of 850 sq. ft. are priced around $1.86 million, attracting HDB upgraders.

Key Takeaways from Singapore's Benchmark Condos

In conclusion, these five benchmark condos—Rivergate, Ardmore Park, Leedon Residence, Park Infinia, and Maple Woods—demonstrate the diversity and resilience of Singapore’s real estate market. Each offers unique advantages, from prime locations and luxury amenities to impressive historical returns. Whether you're an investor or a buyer, understanding the performance and characteristics of these properties provides a valuable lens through which to evaluate potential investments in the city’s ever-competitive property market.