High Park Residences is a condo located along Fernvale Road in District 28 and within the North-East Region. The land lease of this 99-year leasehold development commenced in 2014, giving it a long remaining lease of approximately 88 years. The six-year-old condo also obtained its temporary occupation permit (TOP) in 2019.
High Park Residences comprises a total of 1,390 homes, consisting of 1,376 condo units and 14 strata-landed houses. The condo units range from one-bedder to five-bedders, measuring between 388 sq ft and 1,819 sq ft, while the strata-landed houses range in size from 2,067 sq ft to 2,734 sq ft.
There are several amenities within walking distance, including Sengkang Green Primary School, Thanggam and Fernvale LRT Stations, Fernvale Hawker Centre and Market, Seletar Mall, and several eateries along Jalan Kayu (see Map 1). Fern Green Primary School, Fernvale Primary School, Pei Hwa Secondary School, Tampines Expressway, Sengkang Riverside Park, and Sungei Punggol are located within a 1 km radius.
Source: EdgeProp LandLens (as at 25 April 2025)
Seven transactions yielding profits of at least $1 million
At the time of writing, High Park Residences has recorded 555 profitable and no unprofitable transactions since its launch in 2015. Profits range from approximately $8,000 to $1.246 million. Seven of the profitable transactions yielded profits of at least $1 million for their sellers (see Table 1).
Notably, all seven million-dollar transactions took place either last year or this year. Additionally, all involved four-bedroom or five-bedroom condo units measuring at least 1,300 sq ft.
Source: EdgeProp Buddy (as at 29 April 2025)
Note: Transactions with the same address are matched. Profitability of each round-trip transaction is based only on the change in asset price and does not take into account transaction costs and the effect of financing.
The transaction that yielded the record-high profit of $1.246 million took place in October last year, when the unit was sold for $2.55 million ($1,519 psf). The seller had purchased it from the developer in July 2015 for $1.304 million ($777 psf).
The unit involved is a five-bedroom penthouse on the 23rd storey. The 1,679-sq ft unit features an en-suite master bedroom, four additional bedrooms, and two additional bathrooms. With the exception of Bedroom 3, all bedrooms are directly connected to a bathroom. The jack-and-jill configuration of Bathroom 3 allows Bedrooms 4 and 5 to have direct access to it. Meanwhile, Bathroom 2 has two doors, providing access from both Bedroom 2 and a common corridor.
Bedroom 3 does not have an attached bathroom, but it includes a loft that can be used as a sleeping area or a study nook for the room occupant. Additionally, Bedroom 3 and the living area have direct access to a spacious balcony (see Floor Plan 1).
Source: EdgeProp Research
The most recent transaction with a million-dollar profit took place in February, when another five-bedroom unit was sold for $2.381 million ($1,676 psf). The seller made a profit of $1.057 million from the sale. They had purchased the unit on the 16th storey from the developer in July 2015 for $1.324 million ($932 psf) (see Table 1).
The 1,421-sq ft unit is smaller than the most profitable unit (1,679 sq ft). However, it also features an en-suite master bedroom, four additional bedrooms, and two additional bathrooms. Like the most profitable unit, the jack-and-jill configuration of Bathroom 2 allows Bedrooms 4 and 5 to have direct access to it. The smaller unit also includes a sizable balcony that spans the width of the living and dining areas, as well as a private lift and both dry and wet kitchens (see Floor Plan 2).
Source: EdgeProp Research
Low purchase prices contributed to million-dollar profits
The sellers of both units examined above had purchased their units from the developer in 2015 at below-average prices of $777 psf and $932 psf, respectively. That year, the average price for High Park Residences was $987 psf (see Chart 1).
Source: EdgeProp Market Trends (as at 29 April 2025)
The lower purchase price allowed the seller of the most profitable unit to earn a profit despite selling the unit at $1,519 psf last year, which was below the condo’s average price of $1,559 psf at the time.
In contrast, the seller in the more recent transaction sold their unit at $1,676 psf, which is above the current average price of $1,600 psf for High Park Residences. However, their low purchase price would have still allowed them to earn a smaller profit of approximately $949,000 even if the unit had been sold at the condo’s average price of $1,600 psf.
Furthermore, the average price at High Park Residences has increased by 62.1% since 2015. This price appreciation over the years has contributed to the many profitable transactions seen at the condo.
Additionally, the average new sale price for High Park Residences was consistently lower than that of new condos in both the North-East Region and across the island (see Chart 2), making its units more affordable compared to similar new launches at the time.
When High Park Residences was launched in 3Q2015, it topped the sales charts for the quarter with 1,241 units sold, representing a take-up rate of 90.2% for its 1,376 condo units. The number of units sold at High Park Residences that quarter was significantly higher than Botanique at Bartley (136 units) and Kingsford Waterbay (64 units), which ranked second and third, respectively. The lower launch price likely contributed to the condo’s stellar sales performance.
Source: EdgeProp Market Trends (as at 29 April 2025)
Many units suitable for large families
Notably, all seven profitable transactions that yielded profits of at least $1 million involved large units with either four or five bedrooms. At High Park Residences, there are 251 such units (see Table 2). These units represent only 18% of the total number of homes in the development, but it is uncommon for a condo to have more than 200 of this unit type. These spacious units are ideal for large families.
Demand for large condo units is supported by the increasing number of households in Singapore that comprise four or five persons. According to data from the Department of Statistics Singapore (DOS), the number of four-person households rose from 275,600 in 2020 to 294,900 last year. Meanwhile, the number of five-person households was 163,500 in 2020, dipped to a low of 147,500 in 2022, but rebounded to 161,800 last year (see Chart 3).
More affordable than counterparts
The average resale price for four-bedroom and five-bedroom units in High Park Residences ($1,658 psf) is lower than that of similar units in 99-year leasehold condos, aged 10 years or younger, in both the North-East Region ($1,833 psf) and islandwide ($1,811 psf) (see Chart 4). The comparatively lower price of these large units at High Park Residences should appeal to buyers seeking spacious units.
Additionally, the average resale price for such units at High Park Residences has grown by 33.1% since 2021. In contrast, the average resale price for similar units in the North-East Region declined by 0.5% over the same period. However, the strongest price growth of 58.4% was recorded by their counterparts islandwide.
Source: EdgeProp Market Trends (as at 29 April 2025)
The comparative affordability of High Park Residences extends to its units across all sizes. The overall average resale price for High Park Residences ($1,600 psf) has consistently trended below that of comparable condos in the North-East Region ($1,786 psf) and islandwide ($2,035 psf) (see Chart 5).
Since 2021, the overall average resale price at High Park Residences has grown by 24.7%, a significantly stronger growth compared to the 6.3% increase for 99-year leasehold condos in the North-East Region that are 10 years old or younger. However, the price growth at High Park Residences still lags behind that of its islandwide counterparts, which recorded a 35% increase.
Source: EdgeProp Market Trends (as at 29 April 2025)
Few comparable neighbouring condos
Parc Botannia is the only condo located within walking distance of High Park Residences. It is located across the road from High Park Residences and adjacent to Thanggam LRT Station.
However, if we expand the distance to a 1km radius, there are three other 99-year leasehold developments nearby, namely H2O Residences, Riverbank @ Fernvale, and Rivertrees Residences. These three condos overlook Sungei Punggol and are located near to Layar LRT Station (see Map 2).
The limited number of nearby condos means there are few options for buyers who are keen to live in this neighbourhood.
Source: EdgeProp LandLens (as at 30 April 2025)
All four neighbouring condos are located in District 28 and the Sengkang Planning Area, similar to High Park Residences. However, the four condos are smaller than High Park Residences, as none of them feature more than 800 units (see Table 3). Additionally, only Rivertrees Residences includes strata-landed homes.
Among the four developments, Parc Botannia is the only neighbour that is newer than High Park Residences. Having obtained its TOP in 2022, it is three years younger than High Park Residences and is the newest development in the group. H2O Residences (TOP in 2015) is the oldest development, while both Riverbank @ Fernvale and Rivertrees Residences obtained their TOP in 2017.
Additionally, the average price for High Park Residences ($1,600 psf) has consistently trended below that of Parc Botannia ($1,658 psf), making High Park Residences more affordable and, therefore, more appealing to buyers than its nearest neighbour (see Chart 6). Despite its lower average price, High Park Residences (31.7%) has experienced stronger price growth since 2020 compared to Parc Botannia (21.5%), which will further enhance its appeal to investors.
Source: EdgeProp Market Trends (as at 30 April 2025)
Similar to High Park Residences, Parc Botannia also has no unprofitable transactions. However, Parc Botannia has fewer profitable transactions, with 168 such transactions. Profits range from approximately $19,000 to $667,000. Unlike High Park Residences, no profits exceeding $1 million have been recorded for Parc Botannia.
The top three most profitable transactions for Parc Botannia yielded profits ranging from approximately $504,000 to $667,000 (see Table 4). Similar to High Park Residences, the most profitable units at Parc Botannia feature units with either four or five bedrooms.
Source: EdgeProp Buddy (as at 28 April 2025)
Note: Transactions with the same address are matched. Profitability of each round-trip transaction is based only on the change in asset price and does not take into account transaction costs and the effect of financing.
The transaction that yielded the record-high profit of $666,888 took place in July last year when the seller sold the unit on the 21st storey for $2.509 million ($1,727 psf). The seller had purchased the unit in November 2017 for $1.842 million ($1,268 psf).
The most profitable unit measures 1,453 sq ft and features five bedrooms, including an en-suite master bedroom with a walk-in wardrobe, as well as an en-suite junior master bedroom. The unit also includes three additional bedrooms and an additional bathroom. The jack-and-jill configuration of Bedrooms 3 and 4 allows them to be connected to Bathroom 3. The unit also features a private lift, a balcony adjacent to the living area, as well as dry and wet kitchens (see Floor Plan 3).
Conclusion
Since its launch in 2015, High Park Residences has recorded 555 profitable transactions and no unprofitable ones. Seven of these transactions generated a profit of at least $1 million. The strong profitability of High Park Residences could be attributed to its low initial price. The average new sale price for the condo was lower than that of 99-year leasehold condos in the North-East Region and islandwide.
The numerous profitable transactions at High Park Residences could also be due to strong demand for its units. The condo features 251 four-bedroom and five-bedroom units, which may attract buyers from the increasing numbers of four-person and five-person households. Moreover, there are few condo units with more than three bedrooms.
Additionally, High Park Residences has a lower average resale price compared to its nearest neighbour, Parc Botannia. Its affordable prices would make it attractive to owner-occupiers, while its strong price appreciation will appeal to investors.
