Executive Summary: The District 20 Value Trajectory
District 20 (Bishan, Ang Mo Kio, Upper Thomson) has consistently outperformed the broader Rest of Central Region (RCR) market over the past six years. Driven by the completion of the Thomson-East Coast Line (TEL), high demand from Ai Tong School families, and limited new supply, average condo prices have climbed steadily from ~$1,700 PSF in 2020 to over ~$2,500 PSF in 2026.
District 20 Benchmark Project Evolution
| Project Name | Launch Year | Land Rate (PSF PPR) | Launch Avg PSF | 2026 Resale Avg PSF |
|---|---|---|---|---|
| JadeScape (Shunfu) | 2018 | $989 PSF PPR | ~$1,700 PSF | $2,300 - $2,450 PSF |
| AMO Residence (Ang Mo Kio) | 2022 | $1,118 PSF PPR | ~$2,110 PSF | $2,450 - $2,650 PSF |
| Thomson Reserve (Bright Hill) | 2026 (Preview) | $1,178 PSF PPR | Indicative ~$2,350 - $2,750 PSF | New Launch (Preview Oct 2026) |
Land Cost Breakdown & Break-Even Analysis ($1,178 PSF PPR)
Thomson Reserve's en bloc land acquisition price of S$810 million translates to a land rate of $1,178 PSF PPR (including land enhancement charges for a fresh 99-year lease).
Factoring in construction costs, financing, legal fees, and marketing overheads, the developer break-even cost is estimated at ~$2,050 to $2,150 PSF. At indicative entry pricing starting from ~$2,350 PSF, Thomson Reserve presents competitive early-bird pricing relative to current RCR replacement costs.
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