In this month’s episode of “Condo Cash or Crash”, we’re turning our attention to a remarkable transaction that has captured the spotlight: the sale of a sprawling 2,884 sqft, 4-bedroom condo in District 10 (Tanglin/Holland/Bukit Timah), which recently fetched an eye-popping S$12.7 million. What’s the story behind this high-profile sale? Is this a new launch making waves or a resale condo reflecting shifting market dynamics? Let’s dive into the details of this noteworthy private property sale in October 2024, exploring its implications for buyers, investors, and the broader real estate landscape.
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S$12.7M resale unit in District 10
As of the publication of this article, the S$12.7 million sale in District 10, which translates to S$4,402 PSF, stands as the highest condo transaction recorded in October 2024. While new condo launches have been stealing homebuyers’ attention, this highest transaction of the month came from a resale unit on the 23rd floor of the 30-storey Ardmore Park, a 23-year-old freehold condo that obtained its TOP in 2001.
This record-setting sale not only highlights the continued allure of prime properties in District 10, but also underscores the everlasting demand for freehold property in Singapore. If we look into the 10 highest recorded transactions in October 2024, 7 of them are freehold properties.
| Project Name | Tenure | Type | Price | PSF | District |
| Ardmore Park | Freehold | Resale | 12,700,000 | 4,402 | 10 |
| Meyer Blue | Freehold | New Launch | 10,280,000 | 3,435 | 15 |
| Meyer Blue | Freehold | New Launch | 10,080,000 | 3,418 | 15 |
| Cape Royale | 99 years | Resale | 9,548,000 | 3,069 | 04 |
| Turquoise | 99 years | Resale | 9,000,000 | 1,304 | 04 |
| Corals at Keppel Bay | 99 years | Resale | 8,537,400 | 2,550 | 04 |
| Leedon Residence | Freehold | Resale | 7,500,000 | 2,810 | 10 |
| Orchard View | Freehold | Resale | 7,000,000 | 2,767 | 09 |
| Amber Skye | Freehold | Resale | 6,750,000 | 1,458 | 15 |
| Meyer Blue | Freehold | New Launch | 6,568,000 | 3,447 | 15 |
Meyer Blue in District 15 (East Coast/Marine Parade), a freehold condo which is launched early this October, made it into the list several times. The 2,884 sqft, 4-bedroom unit at Ardmore Park has a higher PSF compared to the 2,992 sqft, 5-bedroom new launch most likely because its location is closer to the CBD, a factor that plays a big part in commanding a higher price.
The charms of Ardmore Park: Is it worth the price?
Nestled in the heart of Singapore’s prestigious District 10, Ardmore Park condominium stands out not only for its prime location but also for the exceptional quality of life it offers. This 330-unit residential development is set within a stunning landscape garden that features lush, matured greenery interspersed with sculptures and ornamental art, creating a tropical ambience that feels like a serene retreat from the bustling city.
The accolades received by Ardmore Park further attest to its value. Notably, the condominium has garnered multiple awards, including the Landscape Industry Association of Singapore (LIAS) Gold awards in both 2013 and 2019. It also received the Green Mark Award from the Building and Construction Authority (BCA) in 2011, recognising its commitment to sustainable living and eco-friendly practices.
The impressive facilities enhance its appeal, featuring a large swimming pool, jacuzzi, children’s pool, and a state-of-the-art gym. With two tennis courts, steam rooms, a children’s playground, and function rooms equipped for gatherings, the community offers ample opportunities for relaxation and recreation.
With its blend of luxurious living, award-winning design, and outstanding facilities, it’s no wonder that the units at Ardmore Park come with a significant price tag, as seen in this October sale. As it embodies the perfect balance of elegance, comfort, and sustainability, Ardmore Park is ideal for those seeking a prestigious lifestyle in Singapore.
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Location breakdown: 11 Ardmore Park, CCR
Ardmore Park’s position in the Core Central Region (CCR) gives it a prime location advantage, being closer to the CBD and city centre which offers a plethora of amenities. It is within close proximity to the prestigious Tanglin and Nassim enclaves, steps away from the exclusive American and Tanglin Clubs, and less than a 5-minute drive to the premier retail and entertainment hub of Orchard Road.
Residents who drive will find it convenient to have major roads and expressways surrounding Ardmore Park. The Central Expressway (CTE), for instance, grants residents easy access to the northern parts of the island, such as Toa Payoh and Ang Mo Kio, and further onwards to the Seletar Expressway (SLE) and the Tampines Expressway (TPE).
However, the development is less friendly to those who rely on public transport. The nearest MRT station, Orchard, is approximately 1 km away. Serving the North-South Line (NSL) and Thomson-East Coast Line (TEL), Orchard leads to other interchange stations, such as the nearby Newton, which also links to the Downtown Line (DTL).
Prefer a property within walking distance of the MRT station of your choice? Check out 99.co’s MRT map here.
EtonHouse International School and Preschool are within a short stroll from Ardmore Park. It is one of the popular international schools among local and expatriate families in Singapore. Those who participate in the Primary 1 balloting exercise can find several reputable schools within a 1-2 km radius, including:
- Singapore Chinese Girls’ Primary School
- Anglo-Chinese School (Junior)
- River Valley Primary School
- St. Margaret’s School (Primary)
- St. Joseph’s Institution Junior
For recreational and wellness needs, the Singapore Botanic Gardens is only a short drive from Ardmore Park. This UNESCO World Heritage site provides a lush escape for outdoor activities, picnics, and leisurely walks.
Additionally, Ardmore Park residents have access to top-tier healthcare facilities within close reach, such as Gleneagles Hospital (a 6-minute drive) and Mount Elizabeth Hospital (a 7-minute drive). These hospitals provide comprehensive medical services from routine check-ups to specialised treatments.
In short, Ardmore Park’s prime location in District 10 provides residents with unparalleled access to the most prestigious schools, luxurious shopping districts, and quality healthcare, all while maintaining convenient access to The Gardens, the giant green lungs of Singapore.
Ardmore Park and District 10 price trend
The recent S$12.7 million sale at Ardmore Park that captured the spotlight this October deserves further analysis as it highlights the real estate landscape in District 10. With a price comparison of other properties in the district, we can see how Ardmore Park’s condo value is affected by many factors, including its location, age, and the overall market demand.
Sale transaction trend for Ardmore Park and D10 in the past 5 years
We use 99.co Researcher to examine the price trend for Ardmore Park in the last 5 years. In 2024, there have been 5 resale transactions recorded at Ardmore Park with an average PSF of S$4,295. This is a remarkable increase of 32.51% compared to the digits in 2019, where the recorded average PSF was only at S$3,241.
Looking at the overall condo transaction in District 10, the increase in value is way more humble than Ardmore Park’s robust performance. Within the last 5 years, the average PSF in District 10 rose by 1.76%, translating to S$2,473 PSF in 2024.
By examining these dynamics, we can safely say that Ardmore Park is a desired property in the competitive landscape of District 10. Its growing value over the years appeals to discerning buyers and investors alike.
Top 5 condo transactions in D10 (2024): Did this S$12.7M sale make it into the list?
Yes. The S$12.7M sale in October does make it into the top 5 of the year. This particular sale stands in the 4th position, while another spectacular sale at Ardmore Park in February beats it into the top 3. Additionally, it’s worth mentioning that all 5 resale transactions recorded at Ardmore Park this year appear in the top 10 highest condo transactions in District 10, according to URA.
To get a clearer picture of Ardmore Park’s condo value compared to other sought-after properties in District 10, we do another price trend analysis with Nassim Park Residences and St. Regis Residences. Nassim Park Residences is a 13-year-old freehold development, obtaining TOP in 2011, while St. Regis Residences has a 999-year leasehold starting in 2008.
Compared to Ardmore Park, Nassim Park Residences has shown an extraordinary performance within the last 5 years. The average PSF of the property has grown 56.67%. The S$14.2M sale in July, which is the only transaction recorded for Nassim Park Residences in 2024, translates to S$4,472 PSF. Although Ardmore Park’s PSF of S$4,295 is slightly lower, it’s quite highly competitive, considering the two developments are a decade apart.
St. Regis Residences, on the other hand, has had numerous transactions over the years. In 2024 alone, there have been 11 transactions, with PSF averaging at S$2,476. Compared to 5 years prior, the digits show an increase of 2.50%. These dynamics suggest that St. Regis Residences’ price growth has been comparatively very, very modest next to the strong performance of Ardmore Park and Nassim Park Residences.
Unsure of your affordability? Check now with 99.co’s affordability calculator!
Ardmore Park vs. new condominium projects in D10
Notice how these transactions mentioned before are mostly resale? District 10, however, does not lack of new launch supplies. The property market in District 10 has its fair share of new condominium projects, such as Boulevard 88 (TOP: 2024) and 19 Nassim (TOP: 2023).
These two developments recorded the highest PSFs in this year’s new sales, according to URA. The freehold Boulevard 88 leads with a new sale in June that translates to S$4,112 PSF. The 99-year leasehold 19 Nassim, which scored slightly lower at S$3,819 PSF, made its highest new sale in January.
As it turns out, Ardmore Park’s growth in value stands strong despite the constant flow of newer developments in the area. The average PSF of Boulevard 88 has grown 10.47% since 2019, reaching S$4,038 in 2024. 19 Nassim, which is not a freehold project, shows even less growth over the years with only an increase of 1.01% since its first recorded sale in 2020.
The average PSF for 19 Nassim now reaches S$3,409 in 2024, far below Ardmore Park’s S$4,295. 19 Nassim itself is a rare luxury condominium with only 1-bedroom units on the menu. This indicates that the demand for older, bigger units in District 10 may exceed the demand for newer developments that typically offer smaller, compact layouts, catering to singles and young couples alike.
If you’re on the hunt for new launches, 6 projects are launching this weekend. Check here!
Ardmore Park: Condo Cash or Crash?
Cash! This October sale of S$12.7M underscores Ardmore Park’s unique value trajectory within Singapore’s District 10, with a remarkable 32.51% increase in PSF over the past five years, reaching S$4,295 in 2024. This stands out against the district’s overall modest rise of 1.76%.
While other prime properties like Nassim Park Residences also exhibit strong growth, with a significant 56.67% PSF increase, Ardmore Park remains highly attractive to homebuyers and investors alike for its consistent performance and competitive edge in the luxury market. This premium positioning affirms Ardmore Park’s continued appeal to buyers seeking lasting value in a highly sought-after locale, even with new launch supplies entering the market.
Would you rather buy an older, freehold condo or a fresh unit from the new launch market this year? Share your thoughts in the comment section below or on our Facebook page.
About Ananda Bayu
Ananda has been wrangling Singapore's complex real estate trends into readable bites since 2020. She writes like she's explaining it to a friend over kopi — because who has time for jargon? When off the clock, she’s probably doom-scrolling through cat memes on X, convincing herself it's the highest tier of "creative inspiration".
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