Property News
03-Apr-2025
Top 35 RCR and OCR Condos with the Highest Appreciation Over the Past Decade (2014–2024)
Image credit: K Suites, Euro-Group
Top 35 RCR and OCR Condos with the Highest Appreciation Over the Past Decade (2014–2024)
Over the past decade, Singapore’s property market has experienced notable price appreciation, particularly in developments within the Rest of Central Region (RCR) and Outside Central Region (OCR). Investors and homebuyers who purchased properties at launch have seen substantial capital gains by 2024.
In this analysis, we examine the top 35 RCR and OCR condos launched after 2014 that have experienced the highest appreciation in 2024, identifying common traits among the top-performing developments. Data used for this analysis is provided by Real Estate Analytics (REA).
RCR Developments with Price Appreciation since launch – What Do They Have in Common?
Based on our analysis of RCR condos, the top developments that recorded strong price appreciation share the following key characteristics:
✔ Tenure: The majority of these developments are leasehold (99-year).
✔ Size: The most common development size ranges from 501 to 1,000 units (large developments).
✔ Districts: The top-performing RCR districts are:
- District 14 (Geylang, Eunos, Paya Lebar)
- District 3 (Queenstown, Alexandra, Redhill)
- District 21 (Clementi, Upper Bukit Timah)
For the analysis of the condos in the RCR, the following charts show the distribution of the properties by tenure, size of development and district.
Top 20 RCR Developments with the Highest Price Appreciation
Source: Data is provided by Real Estate Analytics (REA). Download the next 15 developments in the RCR with the highest capital gains here, or contact us for tailored investment advice!
OCR Developments with Price Appreciation since launch – What Do They Have in Common?
For OCR condos, the most successful developments tend to share the following traits:
✔ Tenure: All OCR’s best-performing condos are leasehold (99 years).
✔ Size: Similar to RCR, the most common development size ranges from 501 to 1,000 units (large developments).
✔ Districts: The top-performing OCR districts are:
- District 19 (Hougang, Punggol, Serangoon)
- District 05 (Buona Vista, Dover, Pasir Panjang, West Coast)
For the analysis of the condos in the OCR, the following charts show the distribution of the properties by tenure, size of development and district.
Top 20 OCR Developments with the Highest Price Appreciation (Excluding Executive Condominiums)
Source: Data is provided by Real Estate Analytics (REA). Download the next 15 developments in the OCR with the highest capital gains here, or contact us for tailored investment advice!
For the RCR and OCR, here are the top 5 developments with the highest price appreciation since its launch over the past decade, ranked by % price change (excluding executive condominiums).
1. High Park Residences
- District: 28
- Launch Year: 2015
- Tenure: Leasehold (99 years)
- Units: 1,390
- Average Launch Price PSF: $989.86
- Average Resale Price PSF (2H 2024): $1,575.15
- Price Appreciation since launch: 59.13%
Located in Sengkang (District 28), High Park Residences is a mega-development with 1,390 units, making it one of the largest private residential projects in the area. The development features an extensive range of facilities, including multiple swimming pools, tennis courts, and childcare services, catering to families and investors alike. Its strong appreciation in value is attributed to its proximity to Seletar Mall, Fernvale LRT station, and Seletar Aerospace Park, which enhances rental demand. The development’s unique mix of apartments and landed-style houses within a high-rise setting has made it a standout in the region.
Image: Average Transacted PSF at High Park Residences between its launch in 2015 and 2024. Source: RealInsight
2.Botanique At Bartley
- District: 19
- Launch Year: 2015
- Tenure: Leasehold (99 years)
- Units: 797
- Average Launch Price PSF: $1,286.53
- Average Resale Price PSF (2H 2024): $1,890.94
- Price Appreciation since launch: 46.98%
Situated in Bartley (District 19), Botanique At Bartley enjoys a prime city-fringe location with direct access to Bartley MRT station (Circle Line). This mid-sized condo development has gained popularity due to its efficient layouts, proximity to good schools (Maris Stella High, Paya Lebar Methodist Girls' School), and excellent transport connectivity. The strong price appreciation is driven by continued demand for homes in this well-connected area and the transformation of the Paya Lebar commercial hub. Its spacious units and serene surroundings make it an attractive option for both owner-occupiers and investors.
Image: Average Transacted PSF at Botanique At Bartley between its launch in 2015 and 2024. Source: RealInsight
3.Forest Woods
- District: 19
- Launch Year: 2016
- Tenure: Leasehold (99 years)
- Units: 519
- Average Launch Price PSF: $1,408.63
- Average Resale Price PSF (2H 2024): $2,013.94
- Price Appreciation since launch: 42.97%
Nestled in the heart of Serangoon (District 19), Forest Woods offers the perfect balance of connectivity, lifestyle, and investment potential. Its strategic location near Serangoon MRT interchange (North-East & Circle Line) and NEX Mega Mall has fueled strong demand. The development is also within walking distance to schools such as Paya Lebar Methodist Girls’ School (Primary), Yangzheng Primary School etc., appealing to families.
Image: Average Transacted PSF at Forest Woods between its launch in 2016 and 2024. Source: RealInsight
4.Artra
- District: 03
- Launch Year: 2017
- Tenure: Leasehold (99 years)
- Units: 400
- Average Launch Price PSF: $1,657.58
- Average Resale Price PSF (2H 2024): $2,362.55
- Price Appreciation since launch: 42.53%
Located in Redhill (District 3), Artra is a mixed-use development that offers a unique blend of residential convenience and integrated retail space, including a supermarket and childcare centre. Its direct connectivity to Redhill MRT station and proximity to the CBD and Orchard Road make it a sought-after choice for both homeowners and tenants. With units averaging 910 sqft, Artra has enjoyed steady appreciation due to limited supply of premium developments in the city-fringe area and strong rental demand.
Image: Average Transacted PSF at Artra between its launch in 2017 and 2024. Source: RealInsight
5.The Clement Canopy
- District: 05
- Launch Year: 2017
- Tenure: Leasehold (99 years)
- Units: 505
- Average Launch Price PSF: $1,342.61
- Average Resale Price PSF (2H 2024): $1,904.29
- Price Appreciation since launch: 41.84%
Situated in the West Coast enclave of Clementi (District 5), The Clement Canopy is a nature-inspired development known for its lush landscaping and eco-friendly design. Its proximity to top educational institutions like NUS, Nan Hua Primary School, and Pei Tong Primary School has made it a top choice for families and investors. With the Greater Southern Waterfront transformation and Jurong Innovation District developments, the rental and resale value of properties in the area has steadily increased.
Image: Average Transacted PSF at The Clement Canopy between its launch in 2017 and 2024. Source: RealInsight
Conclusion
For the period 2014 to 2024, in terms of price appreciation, the top performing condominiums are mostly those that were launched between from 2015 to 2017. In some way, that is not unexpected because the market in 2015 to 2017 was at the trough of price cycle (please refer to the graph below). There was a moderate step-up in prices in 2018 to end 2020 but come 2021, there was a rapid climb up in prices that we expect would continue at least till end-2025.
For this reason, condominiums that were purchased during the launch period from 2015 to 2017 benefitted from the step up in prices thereafter and sharp price increases just after the ending of the Covid lockdowns. These condominiums that achieved top pricing performance were also able to do so because of the ‘newness’ factor, being almost comparable in design, finishings and amenities as the present batch of launches. In some way, this reinforces the saying that buying real estate is all about timing. However, what about launches today? Are they a good buy?
We believe that because of the large store of wealth from the baby boomer generation and also the faster rising HDB resale prices (increasing at a more rapid pace than private property prices), this would generate enough demand for this year’s slate of new launches. Barring any draconian cooling measure, for 2025, prices for the overall private residential are forecast to increase 7% YoY.
URA Property Price Index – Q1/2014 to Q4/2024
Source: URA, Savills Research & Consultancy