The five fastest appreciating private residential developments in the Rest of Central Region (RCR) and Outside Central Region (OCR) have recorded a price appreciation of between 50% to 60% over the past decade, according to a report by Savills Singapore.
These projects include 1,376-unit High Park Residences in District 28, 797-unit Botanique at Bartley in District 19, 519-unit Forest Woods in District 19, 400-unit Artra in District 3 and 505-unit The Clement Canopy in District 5.
All five projects are 99-year leasehold properties and most are relatively large developments consisting of 501 to 1,000 units. Arta is the only exception, comprising 400 units, which Savills classifies as a mid-sized development.
High Park Residences topped the list, recording a 59.1% increase in average psf-prices from $990 psf when the project launched in 2015 to around $1,575 psf in 2H2024. The District 28 development comprises a mix of apartments and landed homes.
Botanique at Bartley achieved the second highest price appreciation at 47%. Located along Upper Paya Lebar Road, the development recorded an average price of $1,292 psf when it launched in 2015. In 2H2024, units at the District 19 condo sold for an average resale price of $1,891 psf.
Rounding up the top three, Forest Woods saw a price appreciation of about 43%. Compared to its average launch price of $1,411 psf in 2016, the development achieved an average resale price of $2,017 psf in 2H2024.
“Over the course of about 10 years, empirical evidence showed that projects that are mid- to large-size tend to appreciate more in capital value terms than the smaller ones,” says Alan Cheong, executive director of research and consultancy at Savills Singapore.
That said, Cheong notes that smaller projects offer value for money for those who want to buy for rental returns or long-term personal stays.
“For pure investors, buying a private residential property is all about timing and buying into the right development,” Cheong believes.
