This study tracks resale profitability across District 12 (Toa Payoh, Serangoon, Balestier) using matched buy→sell pairs from URA caveat data. Across 91 condos and 532 matched resale transactions, the median annualised return was 4.4% and 90% of resales sold at a gain, over a median holding period of 1.6 years. Below, the top performers are ranked, then broken down by holding period, unit size, tenure and floor band. All figures are as of July 2026.
Top-performing condos in District 12 (Toa Payoh, Serangoon, Balestier)
Ranked by median annualised return across all matched resale pairs. Only condos with at least 5 matched pairs are shown, so a single lucky flip cannot top the table.
| # | Condo | District | Median return/yr | Profitable | Median hold | Pairs |
|---|---|---|---|---|---|---|
| 1 | ST MICHAEL'S PLACE | D12 (RCR) | 9.6% | 100% | 2.5 yrs | 6 |
| 2 | TREVISTA | D12 (RCR) | 7.7% | 100% | 1.8 yrs | 28 |
| 3 | AVA TOWERS | D12 (RCR) | 7.4% | 86% | 1.3 yrs | 7 |
| 4 | OLEANDER TOWERS | D12 (RCR) | 7.0% | 100% | 1.7 yrs | 18 |
| 5 | TRELLIS TOWERS | D12 (RCR) | 6.5% | 100% | 0.8 yrs | 7 |
| 6 | VA RESIDENCES | D12 (RCR) | 6.4% | 100% | 1.0 yrs | 6 |
| 7 | VISTA RESIDENCES | D12 (RCR) | 6.0% | 100% | 2.1 yrs | 7 |
| 8 | SHAW PLAZA - TWIN HEIGHTS | D12 (RCR) | 5.7% | 80% | 1.7 yrs | 5 |
| 9 | THE ARTE | D12 (RCR) | 5.4% | 83% | 1.8 yrs | 12 |
| 10 | ONE ST MICHAEL'S | D12 (RCR) | 5.0% | 100% | 1.4 yrs | 6 |
| 11 | GEM RESIDENCES | D12 (RCR) | 5.0% | 96% | 1.7 yrs | 51 |
| 12 | EIGHT RIVERSUITES | D12 (RCR) | 4.9% | 90% | 1.5 yrs | 58 |
| 13 | RIVIERA 38 | D12 (RCR) | 4.8% | 100% | 2.3 yrs | 6 |
| 14 | DE ROYALE | D12 (RCR) | 4.6% | 80% | 0.8 yrs | 5 |
| 15 | CRADELS | D12 (RCR) | 4.5% | 100% | 1.2 yrs | 7 |
| 16 | BEACON HEIGHTS | D12 (RCR) | 4.1% | 100% | 1.1 yrs | 12 |
| 17 | REGENT RESIDENCES | D12 (RCR) | 4.0% | 92% | 1.8 yrs | 13 |
| 18 | VETRO | D12 (RCR) | 3.9% | 80% | 2.7 yrs | 5 |
| 19 | THE VERVE | D12 (RCR) | 3.9% | 100% | 1.2 yrs | 5 |
| 20 | RIVERBAY | D12 (RCR) | 3.8% | 80% | 1.7 yrs | 15 |
Return by holding period
How long owners held before reselling, and the annualised return each band delivered.
| Holding period | Median return | Profitable | Median hold | Pairs |
|---|---|---|---|---|
| 0-2 yrs | 4.4% | 87% | 1.0 yrs | 312 |
| 2-5 yrs | 4.3% | 94% | 2.9 yrs | 217 |
| 5-10 yrs | 6.6% | 100% | 5.1 yrs | 3 |
Return by unit size
Bedroom count is the clearest size signal in URA caveats. Larger family-sized units often appreciate differently from compact investor stock.
| Unit size | Median return | Profitable | Median hold | Pairs |
|---|---|---|---|---|
| 1-bedroom | 3.2% | 82% | 1.3 yrs | 100 |
| 2-bedroom | 4.3% | 93% | 1.9 yrs | 126 |
| 3-bedroom | 5.2% | 93% | 1.6 yrs | 168 |
| 4-bedroom | 5.3% | 92% | 2.1 yrs | 52 |
| 5+-bedroom | 9.2% | 100% | 1.1 yrs | 7 |
Freehold vs leasehold
Whether the freehold premium translated into stronger resale appreciation, or whether cheaper leasehold entry prices produced higher percentage gains.
| Tenure | Median return | Profitable | Median hold | Pairs |
|---|---|---|---|---|
| Freehold (incl. 999-yr) | 3.8% | 88% | 1.7 yrs | 369 |
| Leasehold | 5.6% | 95% | 1.5 yrs | 162 |
Return by floor band
A floor-height proxy (low, mid, high) built from the storey band on each caveat — the closest available stand-in for view, since caveats carry no orientation data.
| Floor band | Median return | Profitable | Median hold | Pairs |
|---|---|---|---|---|
| Low (≤6) | 4.4% | 91% | 1.3 yrs | 81 |
| Mid (7–15) | 4.0% | 89% | 1.7 yrs | 258 |
| High (16+) | 4.6% | 91% | 1.8 yrs | 191 |
Frequently Asked Questions
Which condos made the most money in District 12 (Toa Payoh, Serangoon, Balestier)?
The ranking table above lists the top condos by median annualised resale return, based on matched buy→sell pairs from URA caveat data. Only condos with at least 5 matched pairs are ranked, so the leaders reflect a consistent pattern of gains rather than a single fortunate sale.
How is the annualised return calculated?
For each unit that was bought and later resold, we compute the compound annual growth rate (CAGR) between the purchase and resale price. Because URA caveats carry no unit identifier, a "unit" is inferred from a proxy of floor band, floor area and bedroom count. The figures are historical estimates, not a forecast.
Is a higher percentage return always better?
Not necessarily. Short holding periods can produce eye-catching annualised percentages on a small absolute gain, while a large freehold unit may show a lower percentage on a much bigger dollar profit. Read the median return alongside the profitable-resale rate and median holding period, all shown for District 12 (Toa Payoh, Serangoon, Balestier) as of July 2026.
Do these figures account for stamp duty, financing or renovation costs?
No. Returns are computed on the raw caveat prices only. Real net returns would be lower after buyer's and seller's stamp duty, mortgage interest, agent fees and any renovation outlay. Use the study to compare relative performance between condos, not as a net-profit figure.
Methodology & Sources
The dataset behind this report spans as of July 2026; we refresh it on an irregular schedule.
Transaction data sourced from URA.
- Matched buy→sell pairs are inferred from URA resale caveats by grouping transactions on a (floor band, floor area, bedroom count) proxy — caveats carry no unit or stack identifier, so there is no view or orientation dimension.
- Annualised return is the compound annual growth rate (CAGR) between a paired purchase and resale; pairs held under 6 months or over 30 years are excluded.
- A condo must have at least 5 matched pairs to appear in a ranking. Figures are historical estimates, not a forecast or guarantee.
- Data as of July 2026, drawn from URA private-transaction caveats.
Price-per-square-foot (PSF) here means the median deal in the period; means are reserved for volume-weighted aggregates explicitly labelled as such.