Experience the splendour of D21, a prestigious area in Singapore that is close to the heart of the Central Region.

This central part of the island entices both residents and visitors with its wide offerings, including connections to greenery, access to workplaces, and various recreational amenities. D21 will be at the centre of several nearby transformations, which will benefit from the upcoming enhancements.

There are 3 key reasons why future private homes in D21 offer a lucrative investment prospect for Singaporeans who are looking to grow their wealth:  

1) Strong price appreciation of homes in D21

2) Good variety of homes in D21 that cater to different groups

3) Transformations around D21 that will enhance its attractiveness

1. Strong price growth of homes in D21

Discover the lucrative opportunities of investing in a private home in D21! Private homes in D21 are highly profitable. Based on URA data, an impressive almost 70 per cent of private homes that were bought and resold between 1995 and 2023 recorded profits.

            Among these profitable homes, 530 units made a gross profit of at least $500,000, while 155 units made more than S$800,000. 60 units made profits above S$1 million! The highest profit achieved in D21 was a private condominium at The Sterling, purchased in 1997 at about $2.2 million and resold in 2021 for S$3.8 million, for a profit of around S$1.6 million!

Potential HDB upgraders living near D21 are taking the opportunity to invest in nearby private homes. Many of these HDB flats command high prices due to their attractive location and convenient access to all regions of the island. This undoubtedly gives upgraders the financial means to move into private properties in the area.

According to statistics from data.gov.sg, there has been a significant increase in the median prices of newer HDB flats in the D21 area. From 2019 to the first half of 2024, resale flat prices appreciated by approximately 21 per cent in Bukit Merah, 30 per cent in Clementi, and 24 per cent in Queenstown respectively.

By mid-2024, median prices of HDB resale flats in these HDB estates hit S$893,500, S$897,500 and S$908,000 respectively, showcasing their strong market appeal!

Recently, new Built-To-Order (BTO) flats have been launched for sale in the region. However, not all applicants are prepared to endure the extended construction timeframe or the 10-year Minimum Occupation Period (MOP). Consequently, some of the demand may shift to the resale flat market. As more individuals express interest in acquiring HDB resale flats, existing owners will have the opportunity to upgrade to private condos within the district after selling their resale properties.

With rising incomes and price growth of HDB resale flats, we anticipate more people upgrading to private condos in D21.

For instance, the island-wide average household income for residents staying in 4-room and 5-room & executive flats has seen constant growth through the years. As of 2023, the average household income is around S$10,000 and S$13,000 for these two groups respectively. We expect the average household income to continue growing, which will support the upgrading aspirations of Singaporeans.

This will be further supported by the government’s plans to build more residential developments in the area. With a number of new land parcels slated to be developed into residential housing in D21, there will be more housing options for investors and families. Rising HDB resale flat prices will make it easier for homeowners to upgrade as they seek to capitalize on the strong profitability of private housing.

2. Many home options in D21 that suit different needs

Beyond just the strong transformation potential surrounding D21, upcoming and existing homes come in various sizes, which will provide potential homebuyers with various options.  Families looking to purchase a bigger home can find various options in D21 where more than half the recent resale transactions were large-sized units. Based on resale transactions from 2022 to the first half of 2024, 455 out of 853 total transactions or over 53 per cent were at least 1,200 sqft. Notably, 151 units were at least 1,600 sqft, which can be considered quite rare. Another 254 units were between 800 sqft and less than 1200 sqft.

Those seeking larger units may find the prices of condos here attractive, as the overall median price of condos between 1,200 sqft and 1,600 sqft was S$2.04 million and those at least 1,600 sqft was priced around S$3.1 million. However, many of these affordable homes tend to be older. Of the 455 units of at least 1,200 sqft in size that changed hands, 346 were at least 20 years old.

For buyers looking for smaller homes, there are a number of newer home options below 20 years old. Based on past records, 144 transactions that were below 800 sqft were such newer condos. 

3.         D21 URA Masterplan Transformation

Situated a short drive from the Central Business District, D21 is set to see more developments in the coming years. This prime location provides residents with excellent opportunities, including access to employment hubs, dining options, and various recreational activities.

A new integrated facility is currently being developed next to Beauty World MRT. This facility will include a community club, a market, and a hawker center. Additionally, a new mall will be part of the development, providing more retail and civic spaces to serve residents in District 21.

The central location of D21 will greatly enhance its appeal to buyers, given its accessibility to the rest of the island.  The upcoming Jurong Lake District and the Central Business District (CBD) are just a short drive away, and residents can also utilize the Downtown MRT Line for easy access to these areas.

Moreover, the Dover Knowledge District is being developed as an extension of one-north, which will help create synergies among the nearby business parks, academic institutions, and research facilities. Homes in D21 will be ideally situated near various major employment hubs. 

In addition to the new mixed-use development at Beauty World, other areas within District 21 will undergo significant transformation. A new Green Corridor will be constructed, stretching from Bukit Timah to Rochor. This corridor will provide an alternative route to the Rail Corridor, making it easier for residents and visitors to access outdoor recreational activities.

Residents in D21 enjoy beautiful nature views, surrounded by lush greenery. Bukit Timah Nature Reserve is conveniently located near most homes in the area, providing residents with easy access to abundant natural landscapes.

The western part of Dover Forest is expected to remain a green space in the medium term, as there are currently no plans for its development. Similarly, although Clementi Forest is zoned for residential use, there are no imminent plans to convert it into housing developments.

These existing green spaces will contribute to the tranquility of homes in District 21. 

Based on the investment potential and upcoming development plans, buyers should not wait too long to purchase a home in D21. They should take advantage of today’s opportunity to buy a condo within D21. Doing so will not only allow them to enjoy the attractive locational benefits and future developments but also guarantee that their investment will yield financial benefits in the long run.