District 25 recently saw its highest capital gain ever recorded with the sale of a 3-bedroom Executive Condo (EC) unit in Woodlands for S$1.860 million. The former owner secured a capital gain of S$1.181 million from this sale after holding the property for more than 2 decades. At first glance, it looks like a typical long-hold success story — but a closer look at the EC market in Woodlands reveals some quite interesting trends.
Could Executive Condos in Woodlands be one of the most underrated investment plays in Singapore? In this edition of Condo Cash or Crash, we unpack the data and what it means for future buyers and investors.
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Record-breaking capital gain in District 25
The latest all-time high record for condo capital gain in District 25 unfolded with a recent sale of a 2,346-sqft unit at Block 22, Northoaks. The former owner originally purchased the unit directly from the developer for S$679,000 in June 1999, early after launch. They sold it in April 2025, fetching the highest recorded profit of S$1.181 million (174%) after holding the unit for almost 26 years.
| Date | Price (S$) | PSF (S$) | |
| New Sale | 10 June 1999 | 679,000 | 289 |
| Resale | 8 April 2025 | 1,860,000 | 793 |
Just a month prior, a similar 3-bedroom unit at Block 26 was sold for S$2.2 million, netting its seller a gain of approximately S$1.05 million after only 8 years. Clearly, the 99-year leasehold Northoaks is punching well above its weight class in today’s EC market.
Most profitable condo transactions in District 25
Looking at the broader market in District 25, ECs are leading the charge in profitability. A striking 65.36% of all high-gain transactions — those with profits exceeding S$500,000 — were from EC projects.
There is a total of 306 such transactions recorded within the district. But how long is the holding period of these profitable sales? See the table below.
| Holding Period | No. of Sales | Percentage (%) |
| < 5 years | 13 | 4.25 |
| 5 – 10 years | 127 | 41.50 |
| 10 – 15 years | 66 | 21.57 |
| 15 – 20 years | 55 | 17.97 |
| > 20 years | 45 | 14.71 |
Notably, the S$2.2 million sale at Northoaks in March 2025 stands out as the only sale in the district’s history to cross the S$1 million profit mark within a holding period of just 5 to 10 years.
Digging deeper, there have only been 5 condo transactions across the entire district that crossed the S$1 million gain threshold. Northoaks appears twice on the list, making its mark as one of the most lucrative condos in District 25 overall.
| Project | Profit (S$) | Holding Period |
| Northoaks EC | 1,181,000 | 26 years |
| Woodgrove Condominium | 1,165,000 | 13 years |
| Rosewood Suites | 1,142,888 | 15 years |
| Northoaks EC | 1,050,000 | 8 years |
| Woodgrove Condominium | 1,000,000 | 17 years |
With these recorded sales throughout the years, Northoaks may quietly rewrite the narrative around ageing ECs — they can still offer promising growth and investment potential after all.
A quick overview of Northoaks EC
Completed in 2000, Northoaks EC offers large-format homes ranging from 1,054 to 2,483 sqft across 720 units. With 2- to 4-bedroom layouts, it’s long been favoured by families who value space and practicality. Despite its age, Northoaks continues to attract attention thanks to full condo facilities, such as a swimming pool, gym, tennis courts, and landscaped areas.
While not within short walking distance, its location along Woodlands Avenue 7 puts it within easy reach of Admiralty MRT station. Additionally, key expressways like the SLE and BKE make it convenient to drive around, especially for those heading to the CBD or up north to Johor. Plus, the estate benefits from a well-rounded neighbourhood with shops, nature spots, and a wide array of schools.
There are 3 primary schools within 1km, offering a better chance in the P1 balloting exercise:
- Admiralty Primary School
- Greenwood Primary School
- Riverside Primary School
Furthermore, according to OneMap, these primary schools are located within a 1-2km radius of Northoaks EC:
- Canberra Primary School
- Endeavour Primary School
- Evergreen Primary School
- Northoaks Primary School
- Qihua Primary School
- Sembawang Primary School
- Wellington Primary School
- Woodlands Primary School
- Woodlands Ring Primary School
This strong educational network adds to the project’s appeal among families looking to settle long-term in Woodlands.
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Uncovering Northoaks’ upward price trend
The 2 highly profitable condo sales at Northoaks mentioned before helped drive the price appreciation upward for this Woodlands EC. In 2025, there have already been 7 resale deals within the project, with the average price reaching S$1.385 million.
According to data from 99.co Researcher, Northoaks’ average transacted price has increased by 92.11% over the last 15 years, while its average psf has climbed by 62.03% since 2010.
Some experts may believe that leasehold properties lose steam once they cross the 20-year mark. But this particular Woodlands EC seems to defy the trend. Now entering its 25th year, Northoaks continues to record rising prices despite the less transactions.
In fact, in the past 5 years alone, its average psf has jumped over 50%. Northoaks EC currently commands an average of S$894 psf.
It’s this low pricing edge that makes it so compelling. Compared to newer ECs, Northoaks tends to offer more generous floor areas at lower psf rates. In 2025, the average price psf of ECs across Singapore is at S$1,597, nearly 80% higher than Northoaks’ rate.
Despite being well past its quarter-life mark and less centrally located, Northoaks proves to appeal to value-seeking upgraders and long-term buyers with its clear upward price trajectory.
How does Northoaks stand against the newer ECs in D25?
So, how does Northoaks stack up next to the other EC projects in the district? In terms of price growth, it lags behind the market average, though that’s not exactly unexpected given its old age.
Overall EC market in District 25
Over the past decade, Northoaks has posted a price increase of around 42%. In comparison, the broader EC market in District 25 has climbed by 56.56%. As of 2025, the district’s average is at S$1,165 psf, putting Northoaks price about 23% below the overall market.
Comparison with newer EC launches
Much of the upward push in prices has come from newer EC launches in the district. Bellewoods (TOP: 2017) and Northwave (TOP: 2019) are notable examples — both have outpaced the average with 70.20% and 68.93% gains, respectively, over the same 10-year period.
Compared to Northoaks, the price psf for these newer ECs is roughly 30% higher, widening the price gap even more. Still, Northoaks’ relatively low psf is what anchors its upward price trend, where it continues to offer “special” value among buyers looking for affordable homes.
Woodlands EC prospective investment opportunity
While newer ECs in Woodlands haven’t made headlines for record-breaking gains just yet, their strong price momentum hints at long-term potential. With younger leasehold tenure, these projects could be a smart move for buyers with an eye on future value.
Currently, ECs in Woodlands are priced attractively at an average of S$1,164 psf — about 37% below the national EC average, which has now crossed S$1,500 psf. That affordability gap makes the district one of the most value-packed locations for EC upgraders today.
What’s even more surprising is that despite the lower price tag, Woodlands ECs have actually outperformed the national average in terms of growth. Over the last 5 years, they posted a 75.29% increase, edging out the 71.14% rise seen across all ECs in Singapore.
At this pace, it wouldn’t be far-fetched to see Woodlands clinch the next national capital gain record for ECs. For now, the title still belongs to Bishan Loft in District 20, where a 3-bedroom, 1,389-sqft unit raked in a S$1.796 million profit from a sale that unfolded in February 2025.
Enjoying this in-depth analysis? 99.co Condo Cash or Crash covers monthly notable transactions in Singapore’s private property market.
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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