There have been countless developments coming up in the District 03 region of Singapore, but which is the best development? If you’re new to the ‘district’ classification, District 03 covers the Queenstown, Redhill and Tiong Bahru area.

In the past couple of years, we have had seen numerous private condominium developments launching for sale, including Commonwealth Towers, Queens Peak, Alex Residences and Principal Garden. In addition, a land parcel at Margaret Drive was just closed yesterday at $998 PSF PPR, with developer MCC Land winning the land bid.

With so many choices to choose from, how can one tell which is the best development to invest in? Fret not, because we have identified an obvious choice.

Best Development in D03

District 03 Simplified Price Chart Diagram

Land Bid Price

From the above table, we can identify that out of the 7 developments (5 current and 2 upcoming), the developer of Principal Garden, UOL, paid the lowest price in terms of per square foot per plot ratio (PSF PPR). The next two cheapest land acquisitions in terms of per square foot per plot ratio belong to the upcoming Artra Mixed Development of Tang Group and Queens Peak of HY Realty.With a lower land bid price per square foot, the three developments are able to command a lower selling price compared to the other developments. On the contrary, Highline Residences has the highest land bid price per square foot.

Proximity to MRT

Out of all the 7 developments listed above, Queens Peak, Commonwealth Towers and Artra Mixed Development are the ones right beside the MRT Station. With so many developments in the vicinity, their proximity to the MRT Station is unparalleled and owners would certainly have an edge in renting out their houses. On the contrary, Principal Garden is located furthest away from the MRT Station.

Prices and Affordability

In terms of affordability and pricing, Queens Peak also has the most attractive prices across the 1-3 BR unit types.  Principal Garden is also priced attractively and is the lowest in terms of per square foot. One can purchase a 3 Bedroom unit in Queens Peak with a $1.3M budget, while the same amount of money can only fetch a 2 Bedroom unit in other developments. Highline Residences is the most expensive development with 1 Bedroom unit starting from $1.10M.

It seems like we have a winner, although the competition seems pretty close between Queens Peak and Principal Garden.

From an investment point of view, Queens Peak is certainly the best development with its proximity to the MRT, low land bid per square foot and attractive pricing by developer HY Realty and MCC Land.

If prices here were to drop, why would MCC Land bid 14% higher for a land parcel located behind Queens Peak?

The answer: Price will rise here.