Earlier this month, a three-bedroom unit at freehold Sui Generis was sold for $3.9 million ($2,223 psf), resulting in a loss of $867,842. The seller had purchased the 1,755-sq ft unit in April 2008 for $4.768 million ($2,717 psf).
We used our analytics tool, Is it a Good Deal?, to determine whether the buyer of the three-bedroom unit secured a good deal.
Freehold boutique condo in prime District 10
Sui Generis is a 40-unit development located along Balmoral Crescent, within prime District 10. The freehold condo obtained its temporary occupation permit (TOP) in 2010. It is a boutique development comprising a mix of three-bedroom and four-bedroom units, ranging in size from 1,572 to 2,594 sq ft.
Sui Generis is surrounded by reputable schools, including Anglo-Chinese School (Primary) and Anglo-Chinese School (Barker Road), both within walking distance of the condo (see Map 1). Parents should note that Anglo-Chinese School (Primary) will relocate to Tengah in 2030; however, all students admitted before the move will remain at the Barker Road campus until they graduate. Other schools within a 1km radius include Singapore Chinese Girls’ Primary School, Singapore Chinese Girls’ School (Secondary), and Catholic Junior College.
Source: EdgeProp LandLens (as at 28 May 2025)
Nearby amenities include Balmoral Plaza, Goldhill Shopping Centre, United Square and Newton Food Centre.
The nearest MRT station is Newton, which serves as an interchange station for the North-South and Downtown Lines (see Screenshot 1). However, the dual-line station is approximately 600m from Sui Generis.
Source: EdgeProp Is it a Good Deal (as at 28 May 2025)
Our tool also indicated that the transacted price of $2,223 psf is lower than the average prices for Sui Generis, District 10, and seven nearby condos (see Screenshot 2). It also highlighted the freehold tenure of Sui Generis as a plus point for the development.
Source: EdgeProp Is it a Good Deal (as at 28 May 2025)
More unprofitable than profitable transactions
Since its launch in 2007, 10 unprofitable transactions have been recorded at Sui Generis, with losses ranging from approximately $150,000 to $1.272 million. The recent transaction that resulted in a loss of $867,842 is the third-highest unprofitable transaction for the condo and the largest loss recorded so far this year. The top two unprofitable transactions at Sui Generis resulted in losses exceeding $1 million (see Table 1).
Source: EdgeProp Buddy (as at 28 May 2025)
Meanwhile, only two profitable transactions have taken place at the condo. The profits from both transactions differ significantly, despite both units being from the same stack and measuring 1,572 sq ft. The unit sold in May 2018 yielded a small profit of $1,195, while the unit sold in March 2023 generated a significantly larger profit of $610,000 (see Table 2).
Source: EdgeProp Buddy (as at 28 May 2025)
Subject unit is a three-bedder on the top storey
The seller purchased the subject unit in April 2008 for $4.768 million ($2,717 psf) and sold it this month for $3.9 million ($2,223 psf), resulting in a loss of $867,842.
The subject unit is a three-bedder located on the top storey. The 1,755-sq ft unit features a master bedroom with a walk-in wardrobe and an attached bathroom. It also includes two additional bedrooms and a common bathroom. The fifth-storey unit also has a private lift, wet and dry kitchens, and a balcony that spans the length of the spacious living and dining area (see Floor Plan 1).
Source: EdgeProp Research
Interestingly, the unit that yielded the highest loss of $1.272 million is from the same stack as the subject unit and therefore has the same size and layout. However, the most unprofitable unit is located on the second storey.
The seller of this unit had purchased it in November 2007 for $4.522 million ($2,578 psf) and sold it in April 2019 for $3.25 million ($1,852 psf), incurring a record-high loss of $1.272 million.
Unlike the other two units, the unit that generated the second-highest loss of $1.129 million is a larger four-bedroom unit measuring 2,131 sq ft. The key difference between the four-bedroom unit and the three-bedroom units is the additional bedroom with an attached bathroom, as well as an extra powder room near the living area. The master bedroom of the four-bedder also has direct access to the long balcony, which is also accessible from the living and dining areas (see Floor Plan 2).
Source: EdgeProp Research
The seller of the second most unprofitable unit purchased it in December 2007 for $5.379 million ($2,524 psf) and sold it in July 2020 for $4.25 million ($1,994 psf), resulting in a loss of $1.129 million. The four-bedroom unit is located on the third storey.
The importance of buying low and selling high
The sellers of all three unprofitable units had purchased them at above-average prices. The sellers of the two most unprofitable units bought their units in 2007 at $2,578 psf and $2,524 psf respectively. However, the average price for Sui Generis that year was lower at $2,410 psf (see Chart 1).
The seller of the most unprofitable unit sold it in 2019 for $1,852 psf, which was slightly higher than the average price of $1,842 psf for Sui Generis that year. Despite achieving a sale price above the condo’s average, the seller still incurred a loss exceeding $1 million due to the significantly higher-than-average purchase price.
If the seller had bought the unit at the development’s average price of $2,410 psf in 2007, they would still have experienced a loss, albeit a smaller one of approximately $929,000. This is because the average price at Sui Generis had declined by 23.6% between 2007 and 2019, reaching a low of $1,842 psf in 2019.
Source: EdgeProp Market Trends (as at 28 May 2025)
The seller of the second most unprofitable unit also bought it at a higher-than-average price. This unit was the only one sold in 2020, so its transacted price represented the average price for Sui Generis that year. Unfortunately for the seller, the average price for the condo declined by 17.3% from 2007 to 2020.
Meanwhile, the seller of the subject unit purchased it for $2,717 psf in 2008, when the average price for the condo was slightly lower at $2,711 psf. The seller sold it this year for $2,223 psf, which is below Sui Generis’ prevailing average price of $2,345 psf. If the seller had sold the unit at the condo’s current average price, the loss would have been significantly smaller at approximately $653,000.
The poor profitability performance of Sui Generis may also be attributed to the fact that the average price for the condo has declined by 2.7% since its launch in 2007. The average price reached a record low of $1,842 psf in 2019 but has since recovered to the current $2,345 psf.
Surrounded by freehold condos
There are 38 freehold condos within a 500m radius of Sui Generis. Among the nearby condos, Scotts Highpark (TOP in 2009), Volari (TOP in 2012), and Goodwood Residence (TOP in 2012) stand out because they obtained their TOPs within four years of Sui Generis (TOP in 2010) (see Screenshot 3).
Source: EdgeProp Is it a Good Deal (as at 28 May 2025)
However, Goodwood Residence is a significantly larger development with 210 units. In contrast, Volari (85 units) and Scotts Highpark (73 units) are boutique developments, similar to Sui Generis (40 units).
Located along Balmoral Road, Volari is a short walk from Sui Generis. Scotts Highpark, located along Scotts Road, is closer to Newton MRT Station (see Map 2). Hence, Scotts Highpark is in District 9, while Volari and Sui Generis are in District 10.
Source: EdgeProp LandLens (as at 28 May 2025)
Neighbours have no unprofitable transactions this year
Volari and Scotts Highpark have fared better than Sui Generis, as both condos have had more profitable transactions than unprofitable ones. Additionally, neither condo has recorded any unprofitable transactions so far this year. The most recent unprofitable transaction for Volari was in 2021, while that for Scotts Highpark was in 2022.
At the time of writing, Volari has achieved 19 profitable and 14 unprofitable transactions. Profits range from approximately $25,900 to $1.057 million, while losses range from approximately $16,400 to $1.63 million.
The most recent unprofitable transaction for Volari resulted in a loss of approximately $117,720. The seller bought the 2,809-sq ft unit in August 2009 for $4.718 million ($1,679 psf) and sold it in June 2021 for $4.6 million ($1,637 psf).
The unit involved is a three-bedroom duplex on the first storey. The lower level comprises an entertainment room and a private car park lot. The upper storey includes a master bedroom with a walk-in wardrobe and an attached bathroom, as well as two additional bedrooms and a common bathroom. The unit also features a spacious private enclosed space with a private jet pool (see Floor Plan 3).
Source: EdgeProp Research
The seller paid $1,679 psf for the unit, which was significantly lower than the average price of $2,053 psf for Volari at that time. However, the seller sold it at $1,637 psf in 2021, which was significantly below the condo’s average price of $2,095 psf that year (see Chart 2). If the seller had sold the unit at the condo’s average price of $2,095 psf, they would have made a profit of approximately $1.168 million.
Source: EdgeProp Market Trends (as at 28 May 2025)
Meanwhile, Scotts Highpark has recorded 38 profitable transactions, with profits ranging from approximately $50,000 to $3.987 million. The condo has also incurred losses ranging from approximately $54,000 to $2.18 million across 23 unprofitable transactions.
The most recent unprofitable transaction for Scotts Highpark took place in February 2022, when the seller sold a 1,141-sq ft unit for $2.25 million ($1,972 psf). They had purchased the two-bedroom unit on the 16th storey in April 2007 for $2.343 million ($2,053 psf).
The seller experienced a loss because the average price of Scotts Highpark fell by 8.7% from 2007 to 2022. Furthermore, the seller sold the unit in 2022 when the average price of the condo had reached a low of $1,853 psf, before rebounding to $2,250 psf this year (see Chart 3).
Source: EdgeProp Market Trends (as at 28 May 2025)
Average price for Sui Generis trending below neighbours and district
Since 2019, the average resale price for Sui Generis has trended below that of Volari and Scotts Highpark. Thus far, there have been no sale transactions for Scotts Highpark this year, but last year’s average resale price for Scotts Highpark ($2,250 psf) was between that of Sui Generis ($2,233 psf) and Volari ($2,487 psf) (see Chart 4).
Source: EdgeProp Market Trends (as at 28 May 2025)
Furthermore, the average resale price for Sui Generis ($2,345 psf) is trending slightly below that of freehold condos in District 10 ($2,360 psf) but significantly above that of freehold condos across the island ($1,932 psf) (see Chart 5).
Source: EdgeProp Market Trends (as at 28 May 2025)
Conclusion
The appeal of Sui Generis lies in its location in a prime district, its close proximity to Orchard Road and several reputable schools, as well as its freehold tenure.
Owner-occupiers will also appreciate its average price, which is lower than that of its neighbours and the District 10. As such, they are likely to view Sui Generis as a more affordable freehold home in a prime location.
However, the poor profitability performance of the condo might deter some investors. That said, they should bear in mind that the profitability of Sui Generis is expected to improve because the average resale price of the condo has been on a steady upward climb since 2019.
To learn more about this transaction, and whether it is a good deal, click here.
