The Arcadia penthouse sells for S$10.5M, breaking psf and quantum records despite just 53 years left on lease

If you ever needed proof that a rare, character-filled home can outshine the limits of a short lease, this sale makes the case. 

At The Arcadia, a duplex penthouse recently changed hands for S$10,523,000 despite having just 53 years left on its 99-year lease. What makes it even more noteworthy is that the transaction didn’t just break one record, but two: it set both the highest psf and the highest quantum ever achieved in the development.

But the story isn’t just about numbers. It’s about why a buyer would pay top dollar for a decades-old property in District 11, just outside the “traditional” luxury districts of 9 and 10. As you’ll see, the answer lies in the lifestyle, scarcity, and a micro-location that you simply can’t replicate.

The S$10,523,000 sale at a glance

The transacted home sits in Block 239, and spans a massive 6,566 sqft. Sold by brothers Jason Chen and Jayden Chen from Propnex, the deal was sealed at S$10,523,000, which works out to S$1,602 psf. The development is a 99-year leasehold, with roughly 52 years and 11 months remaining at the time of sale. Beyond setting a new benchmark for The Arcadia, the transaction also garnered the seller a whopping S$7 million profit from the deal.

While it was the price tag that grabbed headlines, the home’s liveability is what truly stands out. Inside, you’ll find five bedrooms, including three ensuites, along with a dramatic double-volume living area that instantly defines the space. The 6.2-metre ceiling height is the centrepiece – an architectural feature that delivers a sense of scale and openness impossible to recreate in a standard apartment.

The way the transaction unfolded also attests the home’s rarity. With two serious buyers competing for the unit, the listing agents arranged a 24-hour sealed-bid process to keep the contest fair and decisive. The winning offer not only secured the penthouse but also surpassed the seller’s initial target of S$9.9 million, highlighting just how much demand there was for a property with these unique attributes.

How big is the jump compared to the previous Arcadia record?

The new sale at S$1,602 psf marks a striking leap compared to the previous benchmark in the development. On 14 July 2022, a penthouse at Block 237, measuring 7,505 sqft, sold for S$7.7 million, which worked out to S$1,025.98 psf. That transaction had set the project’s record at the time. 

Fast forward just a little over two years, and this most recent sale pushes the numbers dramatically higher. For context, most typical units in The Arcadia today trade within the region of S$1,150 to S$1,250 psf.  At 56% above the 2022 record psf, it represents not just incremental growth but a dramatic jump in value within the same estate.

The appeal: space, tall ceilings, and a landed home experience within condo

The first thing you notice about this penthouse is its sheer scale. 

At 6,566 square feet, the home offers a kind of spaciousness that’s almost unheard of in Singapore’s condo market. This is a size you’d usually expect in a landed property, yet here it’s elevated into a rare duplex that occupies the top two floors of the development. You get the sweeping living areas of a house, but without the day-to-day upkeep that comes with owning landed real estate.

One of the standout features, and a major reason this unit captured the buyer’s attention, is the living room with a soaring 6.2-metre ceiling. This double-volume height offers a sense of grandeur and openness that transforms how you experience the entire home.

This particular penthouse is also a rare duplex that avoids the common pitfall of having a large, unsheltered roof terrace. Instead, its second level is fully enclosed and integrated into the home’s interior, making every square foot practical and usable. For our tropical climate, this layout is especially prized. 

Moving through the home, you’ll come across striking architectural touches like a spiral staircase and an internal bridge connecting two of the upstairs bedrooms. These aren’t just functional elements; they’re focal points that lend the home character and a sense of artistry that few modern apartments can match.

Garden-living at its core

The home’s uniqueness is also inseparable from The Arcadia’s design philosophy. Conceptualised by renowned Hawaiian architect George J. Wimberly of WWAT&G, the development was inspired by the idea of “environmental design.” 

Wimberly was known for shaping tropical resorts that blurred the line between indoor and outdoor living, and The Arcadia reflects this vision through its garden-living concept. The three pyramidal towers, with their stepped-back terraces and planter boxes, create “hanging gardens” that keep every unit closely tied to nature. At the same time, the cruciform design of the blocks encourages cross-ventilation, ensuring that homes remain bright, breezy, and comfortable.

The allure of exclusivity in a low-density oasis

One of the biggest reasons behind this record-breaking sale is the sheer exclusivity of The Arcadia. Completed in 1983, the development sits on a sprawling land size of approximately 39,000 square metres. Yet, on this expansive plot, there are only 164 homes. That translates to a level of privacy and breathing room you’d be hard-pressed to find in modern condos today.

To put this into perspective, just look at some comparable projects built on similar land sizes. The former Chuan Park, sitting on approximately 37,216 sqm, is planned to house 916 units. Over at Jadescape, its approximately 37,991 sqm plot has been maximised to fit 1,206 units. 

Project	Land size (sqm)	Units
The Arcadia	39,000	164
Chuan Park	37,216	916
Jadescape	37,991	1,206

This comparison makes the appeal clear. Living at The Arcadia means enjoying grounds that feel generous, with space to breathe and a quieter environment that’s increasingly rare in today’s property landscape.

The scarcity of the penthouse itself only heightened its draw. There are just four such duplex penthouses across the entire estate, and this particular one sits in Block C – the most desirable of the three blocks. With only 12 units in total, Block C is the least dense and most private, offering a living environment that feels almost like a sanctuary. Adding to the sense of rarity, the last time a penthouse of this type changed hands was back in 2013. That’s more than a decade ago, signalling significant pent-up demand whenever one of these rare homes surfaces.

Normally, when you think about a property with a depreciating lease, you’d expect values to soften over time. But this is where scarcity changes the equation entirely. For buyers seeking immense size, low-density living, and a unique architectural design, there are virtually no alternatives. The lease becomes secondary. What matters most is the fact that this home is irreplaceable – and that’s exactly what the buyer here was willing to pay for.

Micro-location over postcode: why District 11 didn’t hold it back

Districts 9 and 10 are typically seen as the heart of Singapore’s ultra-luxury market, while District 11, where The Arcadia officially sits, doesn’t always carry the same prestige. Even the agents behind this sale initially wondered if the postcode might hold back demand from the most affluent buyers. But the outcome showed the micro-location mattered far more than the macro label.

Here, the penthouse sits in premium Block C, facing away from the PIE and towards the low-rise landed roofs of Watten Estate in D10. The view offers complete privacy today and the assurance it won’t be blocked by future high-rise projects. For buyers at this level, that kind of unobstructed, landed-facing outlook is worth more than a postcode on paper.

Even the journey home adds to the property’s charm. The Arcadia is tucked along Arcadia Road, one of only five designated Heritage Roads in Singapore. Lined with conservation trees more than four decades old, this 900-metre stretch feels almost rainforest-like. This 900-metre stretch is lined with conservation trees more than four decades old, creating a rainforest-like canopy overhead. “It feels like you’re not even in Singapore!” Jason Chen noted. 

The buyer profile (and mindset) that makes sense of the price

This wasn’t an investment fund or a flipper. 

For foreigners, restrictions on landed property in Singapore often make spacious penthouses the next best option. With its expansive layout, landed-style proportions, and strong connection to greenery, this Arcadia penthouse provided everything they might have sought in a house – with the added comforts of condominium living, such as a pool, gym, and 24-hour security. 

While the agents did not disclose the family’s nationality, they shared that the buyers belong to one of the five nationalities exempted from Additional Buyer’s Stamp Duty (ABSD). This exemption made the purchase more feasible, as most foreign buyers would otherwise face heavier transactional costs.

Ultimately, this sale illustrates how certain homes operate in a category of their own. When a property offers scale, privacy, and an outlook that cannot be replicated, it challenges the usual expectation that older leasehold homes should depreciate. Instead, it appeals to buyers who value rarity and lifestyle above all else – a combination they’re willing to pay a premium for.

The brothers behind the deal that redefined Arcadia’s value

Jason and Jayden Chen are real estate specialists who have built a reputation for navigating Singapore’s high-end property market. Their focus is on serving high-income individuals and families who are seeking homes that offer rarity, scale, and lifestyle value beyond the ordinary.

Alongside their penthouse expertise, they also manage Luxury Collections and Patio Collections, which broaden their portfolio to include an exclusive selection of distinguished homes. This curated approach allows them to pair discerning buyers with homes that truly fit their needs and lifestyle, consistently delivering successful outcomes.

For buyers or sellers considering similar homes, Jason and Jayden offer tailored advice and hands-on guidance every step of the way. If you’re exploring opportunities in the high-end property market, you can connect with them at +65 92703385.