21 most profitable boutique condos in Singapore and where to find them

Boutique developments are a niche market segment, which may not always follow the overall property market. With fewer units, and hence few transactions, prices for these small condos tend to be more volatile; and with small land plots, these cater to buyers who are willing to trade bigger common facilities for greater privacy.

This is particularly challenging if there have been no recent sales to use as a reference point, as the lack of current market data can create uncertainty around the property's true value and potential for future appreciation.

That said, like all types of property, this can be very subjective. Despite these challenges, boutique condominiums can be attractive and profitable if you find the right ones. They offer a unique appeal that's not easily found in larger developments. These homes often exhibit greater individuality, better privacy, and in some cases, an enhanced sense of community.

For those on the lookout for such a home, here are the most profitable boutique condos in Singapore since 2011:

Note: the following projects were restricted to those with 100 units or below, and we considered only units with at least 10 transactions. 

Most profitable boutique condos

1. Sims Edge 

Specifications	Details
Location	Geylang East Avenue 2 (District 14)
Developer	Macly Equity Pte Ltd
Lease	Freehold
TOP	2014
Number of units	78

Sims Edge has benefitted from the development of Paya Lebar Quarter (PLQ) into a commercial hub. This freehold boutique condo is now situated between Aljuined and Paya Lebar, which is a very convenient place to be: 

The Geylang half provides 24-hour eateries, minimarts, and cheap electronics, while the PLQ side has higher-end retail, Grade A office space, and fancier restaurants. 

Aljunied and Paya Lebar MRT are both nearby, although Paya Lebar is the nearer one at around a six-minute walk. You can also cycle or use the bus stop near block 134 (the bus stop is less than five minutes away). Note that PLQ is connected to the Paya Lebar MRT, so this is also the same walking distance to the heart of the commercial hub. 

That said, Sims Edge is definitely not a family condo: this project is for singles who prize convenience over greenery, or for landlords seeking rental prospects. The stretch between Geylang to Paya Lebar is densely built-up, with nothing in the way of parks or a pretty view. Units are also small, ranging from 409 to 872+ sq ft (although there are just two units at 1,195 sq ft).

We would view this as an asset for yield-chasing landlords, trying to capture the Paya Lebar office crowd. Units here can have a quantum below $800,000 even in 2023, making it palatable even to new homeowners.

2. Legenda at Joo Chiat

Specifications	Details
Location	Joo Chiat Lane
Developer	Hoi Hup Jihe Development Pte Ltd
Lease	99-years from 2001
TOP	2004
Number of units	100

If you've followed our past articles or newsletter, you may have caught our mention of how Joo Chiat has been transformed. A somewhat seedy place in the early 2000s, it's now largely gentrified; and this could explain the appreciation of nearby properties like Legenda. 

Legenda is in a low-density area, surrounded by mainly cluster and landed homes (the new launch Atlassia is just right outside). Cafes and boutique shops have replaced the former dive bars/pubs, so this project has good access to eateries in every direction. A Tiong Bahru Bakery branch, Fei Fei Wanton Mee, Common Man Rosters, etc. are all within walking distance. 

The biggest draw for this condo would be schools. Haig Girls is just across the road from this condo (just a walk across Joo Chiat Lane), while Tanjong Katong Girls School is just 830 metres away. With most units being 1,200+ sq ft (it goes up to 2,034 sq ft), Legenda is also sizeable enough to make a good family condo. 

As is typical of most landed areas though, there's no MRT within walking distance nearby; it gets inconvenient if you don't drive. 

3. Malvern Springs

Specifications	Details
Location	Onan Road (District 15)
Developer	Triplan Pte. Ltd.
Lease	Freehold
TOP	2004
Number of units	75

As with Legenda above, Malvern Springs has benefitted from the gentrification of the Joo Chiat.

Prior to where i12 Katong is located today, there was Katong Complex (not to be confused with Katong Shopping Centre). This was a strata-titled mall that brought little to the area, barring a Cold Storage at one point; and the old police station nearby (which now houses a Starbucks and Baba Chew's) was formerly a club. The area is much more family-friendly and upmarket these days. 

Today, there's the convenience of being across the road from i12, and from being along a major lifestyle stretch. The now-famous Birds of Paradise ice cream is along the same stretch as this condo, as are eateries like Zaffron Kitchen. Katong Village and Parkway Parade, both within walking distance, collectively provide a Giant, Cold Storage, and NTUC FairPrice. 

This area is packed with enrichment centres for children as well, and this neighbourhood is particularly well known for its density of music schools (Roxy Square, next to Grand Mercure, has some of the most underrated ones). 

As a bonus, Marine Parade MRT (TEL) is upcoming, and will be just in front of Parkway Parade; so residents will have easy MRT access too. 

Units here are pretty big too, they range from 980 sq ft to the largest 2,831 sq ft.

4. Kentish Court

As is typical of most landed areas though, there's no MRT within walking distance nearby; it gets inconvenient if you don't drive.

Specifications	Details
Location	Oxford Road (District 8)
Developer	Far East Organization
Lease	99-year
TOP	1999
Number of units	77

Kentish may be a small condo, but it isn't by some small developer as you may expect; it's actually by Far East Organisation. This condo has benefitted tremendously from the opening of Farrer Park MRT station (NEL), and further more when Piccadilly Grand is built, with the retail component.

Back when Kentish was launched in the '90s, it was assumed an MRT station would never be nearby. There was no room. No one could foresee that the government would go to the extent of breaking up Race Course Road and Owen Road, and a virtual tour of demolitions, for Farrer Park MRT happen. 

So against all odds, in 2003, Farrer Park MRT was opened; and Kentish Court suddenly found itself within a few minutes walk of a train station. 

Its location before that would have already have been called "pretty good," being within 10 minute's walk to the heart of Little India (that's how long it takes to walk to Mustafa Centre from this project), and a five-minute drive to City Square Mall. 

Also, Rangoon Road is quite famous for its mix of artisanal cafes and local food; and this stretch is just minutes from this condo. 

When you couple this with MRT access, you get a highly accessible and convenient location on the city fringe. 

Mind you, you do have to be okay with a hospital nearby (Farrer Park Hospital is five minutes away), and a rather crowded and noisy urban area. Still, with 1,000+ sq ft units transacting as low as $1.3 million, we can see this becoming quite prominent on the resale radar for those looking for something more affordable. 

5. Parc Mondrian 

Specifications	Details
Location	Woodleigh Close (District 13)
Developer	Bukit Sembawang View Pte. Ltd.
Lease	Freehold
TOP	2010
Number of units	100

Parc Mondrian is one of the more under-the-radar resale condos right now. It's just eight minute's walk from Woodleigh MRT station (NEL), where the Woodleigh Mall is located. Note that buyers of The Woodleigh Residences (integrated with the mall and MRT station) paid an average of $2,229 psf for their leasehold condo. Parc Mondrian, which is just a few minutes further on foot, has transacted for as low as $1,595 psf, and is a freehold project. 

It also has just 100 units, making it much more private. If you prefer exclusivity to bigger common facilities, and want to be further from the traffic congestion, this small project may be worth a look. 

Schools are also an appeal here, with St Andrews (Junior and Secondary schools) being within 650 metres, and Cedar Girls' being within 730 metres. They're probably too far to walk (it's not a straight route), but they're comfortably within priority enrolment distance. 

Amenities are abundant given that Woodleigh Mall has most of what you need. Even if it doesn't, NEX megamall (Serangoon MRT) would just be one stop away. You might also consider Parc Mondrian to have access to two train lines, as Serangoon MRT links to both the NEL and CCL. 

ALSO READ: An overview of The Myst: Newly launched condo in Upper Bukit Timah with prices under $1m

This article was first published in Stackedhomes.