Let’s start with a scenario.
Condo A – freehold, nearer to an MRT station, and new.
Condo B – leasehold, further away from an MRT station, and six years older in age.
Now, based on these characteristics, which development do you think would have performed better in the resale market?
I’d bet that 99 per cent of you would choose Condo A, and I wouldn’t blame you for that.
After all, those are the characteristics that most people would look out for in their “ideal” development.
But as we’ve said many times, every development is different, and the real-world usage of a condo is something that many people tend to overlook.
Things like the vibe of the place, the views, the floor plans, and even down to perhaps miniscule details like the entrance of a condo all can play a bigger role than you might think when it comes down to the resale market.
In today’s piece, we will look at why one development was more unprofitable than the other over the past five years.
Let me introduce both in greater detail.
Jardin is a freehold development in District 21 (Bukit Timah) that was built in 2012. It has 140 units and is located across the road from Bukit Timah Plaza. Most units here have a north-south facing.
Gardenvista – Quick Overview
Gardenvista is a mature 99‑year leasehold property that’s just wrapped up a sweet, six‑year extension, sitting right beside the chic Jardin development. With 318 units, most of the homes are optimally positioned to capture the golden glow of an east‑west orientation.
What’s the buzz about its past five years?
- Rental Growth: A steady climb in rental rates, proving that value can still rise even as the lease gets a little older.
- Occupancy: Healthy occupancy levels, meaning people love living there (and maybe the pesticide sales are doing well).
- Maintenance: A track record of prompt service, keeping the property feeling fresh as new paint on a fresh wall.
- Community Vibe: Residents report good neighborly spirit—watch out, suburb twins!
- Return on Investment: A consistent uptick, showing that steady, long‑term projects can pay off.
In short, Gardenvista may be senior in lease years, but it’s still on the pulse, offering a solid, enjoyable living spot for anyone who appreciates a bit of sunshine in their daily routine.
Let’s compare that to Gardenvista.
As you can see, despite Jardin being a newer plus a freehold development, the contrast between both developments is significant in the resale market.
Clearly, Jardin being freehold here has not helped its case much and it just goes to show that buying freehold doesn’t always guarantee that you’ll make money – it just better weathers the depreciation effect since the land value is not pegged to a limited lifespan.
Now, let’s go through a few of the reasons why we think Jardin has performed the way it has.
1. Developer priced too high
Jardin was launched in December 2007 at the peak of the market. Sales were slow, as Jardin only managed to sell 19 units in the first three months. Amazingly, the next sale was nearly one and a half years later in July 2009.
A point worth noting here is that the Downtown Line MRT announcement came out on April 27, 2007 (announcement of station locations on July 15, 2008. So lesson learned: If you are buying a property when the information is already priced in, then don’t be expecting too much in terms of capital gains.
Even with a shiny brand-new launch, treat the deal like a weather report—expect rain, hail, or sunshine, but don’t count on a perfect day.
2. Locational attributes
On the surface, Jardin is actually located in a good location if judged by conventional methods. It’s walking distance to the MRT station, Bukit Timah Plaza and KAP Mall are both just opposite, and you can walk to Ngee Ann Polytechnic too.
But on the ground, the situation is quite different.
First, you are flanked between 2 major roads as well as the Bukit Timah Sevenmile Flyover – so there’s traffic noise to contend with.
Next, the ever-going construction since 2008 (the Downtown line MRT), and now with the construction of Mayfair Modern and Mayfair Gardens . So that’s a drag not just on the traffic congestion during peak hours, but the noise as well.
So while Jardin may have a better location on paper, Gardenvista actually benefits here as it has the advantage of being blocked from the road noise by Jardin.
Finally on a minor note, drivers coming home would likely have to break traffic laws if they were to drive home from the direction of town. This is because of the double white lines at the entrance of Jardin, leaving you with a small zone from which to filter. So you either have to be a very skilled driver to cut in after the u-turn, or do it the proper way and head down Jalan Anak Bukit to make a u-turn.
Gardenvista’s Tiny Crunch
When Low Turn‑over Means Low Annoyance
So, Gardenvista has its own little hiccup, but it’s not as nagging once you can’t take the sneaky shortcut that Jardin users love. Think of it as a pinch‑point that drags a dash of irritation into your day‑to‑day rhythm.
Why It’s Not a Major Pain
- Limited Spigot:
Giving users a tightly‑controlled space keeps the glitch from becoming a daily nuisance. - Real‑world Leeway:
Without the jump‑start advantage, users are forced to be more patient— and that’s less stressful when you’re on autopilot. - Just a Tiny Nuisance:
It hardly skews the user experience; a petulant bug just living in our digital backyard.
In short, it’s a line‑blip on the radar— a mild bother that simply reminds us that even smooth sailing can get a splash of rain, but it doesn’t ruin the trip.
3. Slim piece of land
Jardin was built in 2012, so it is still considered to be a relatively new development. As such, talks of development potential in the future may be premature at this point.
Still, it is worth noting that it is sat on a narrow strip plot of land – so the potential for redevelopment in the future would likely be lower than a more regular plot like Gardenvista.
4. Poor layouts despite the large size
Why Jardin’s Layout is Shaking Its Sales
Picture this: You’re on the hunt for that dreamy 3‑bedroom + study loft at Jardin, spotting a headline that screams “1,776 sq ft—y’all ready for a spaceship?” The words alone feel like you’re about to discover the secret base of a top‑secret alien conspiracy. You’re pumped, ball‑rolling to the showing, expecting a spacious palace.
Reality check: The layout pulls the rug out from under you. That 1,776 sq ft turns out to be a maze of narrow hallways, tiny corners, and a “you’re in the wrong movie” vibe. Suddenly, the loft feels like it’s hiding behind a curtain instead of hiding in plain sight.
What’s Got It All Messed Up?
- Loft‑centric Magic: Like the Tennery, Jardin’s big‑wigged loft design works best for a small, specific audience that loves the loft aesthetic just.
- Expectation Vs. Reality: The paper brochure paints a picture of a roomy, airy loft, but the real layout gives you a cramped, oddly shaped space. It’s like ordering a deluxe sandwich and ending up with a tiny sub.
- “Hidden Gem” Myth: You’re told you’re about to find a hidden treasure, only to realise the “gem” is hidden behind a disaster of design choices.
Why It Matters
When people think they’re burying in a spacious loft, they’re actually “boxed in” by the weird corridors and oddly placed rooms. That misalignment can scrub your buying excitement and leave you feeling puzzled—like a detective in a case where the clues are missing.
Bottom Line
Jardin’s layout isn’t a one‑size‑fits‑all winning formula. Pick your property expectations carefully and remember: the design must match the dream. Otherwise, you’ll be living in a “seasonal kitchen” that’s far from the skyline you imagined.
Why This Space Feels Like a Tiny Niche
Let’s have a quick look at why the room feels smaller than you’d expect.
- Void, staircase, and private lift gobble up floor‑square footage. They’re the invisible roommates that just snatched your space.
- Spanning two stories. Because a vertical split tricks your brain into thinking the unit is bigger. The footprint stays the same, but height tricks the eyes.
- The “void” is a skinny hallway. Not the airy feel you’d hope for; it’s more of a narrow strip that doesn’t do much to lift the overall vibe.
And the visuals…
Take a look at the photos below. (They’ll give a real feel for how the space actually looks.)
So in comparison, a family looking for a 3 bedroom unit would prefer Gardenvista given its more affordable quantum wise due to not just the tenure, but its layout being more efficient with less wasted space.<img alt="" data-caption="Gardenvista 3+study (1,163 Sqft)
PHOTO: Stackedhomes” data-entity-type=”file” data-entity-uuid=”c692baed-1719-4221-b0e6-3c7d3f1edb5a” src=”/sites/default/files/inline-images/Q17.jpg”/>
5. Demographic of buyers
The Jardin currently has quite a large proportion of foreign owners (40 per cent).
Just like the example of the Tennery, with investors, this could play a factor in the resale market as well.
More often than not, you’ll find that projects with more foreigners tend to have lesser staying power.
That is, if the intention is to head back to their home country in the future, they may be more inclined to let go of their property – even if it’s at a loss to suit their timeline.
That is, if the intention is to head back to their home country in the future, they may be more inclined to let go of their property – even if it’s at a loss to suit their timeline.
Contrast this Gardenvista, where the proportion of local homeowners is much higher (70 per cent), most would need to sell at a reasonable price in order to upgrade or fund for retirement, so the mindset is quite different.
6. Facilities
Personally, I really like the rooftop swimming pool at Jardin. It’s sizeable, and offers a nice view towards Bukit Timah. But arguably Gardenvista has the advantage of a wider pool plus 2 tennis courts – a more diverse set of facilities that buyers would appreciate.
Final Words
Looking at these factors presented, you can see why a property cannot be compared in such a binary way – freehold > leasehold. So the next time you’re told to buy a property simply because it’s freehold, ask yourself if the premium on that tenure is too much, and consider the development’s competitors in the surrounding area too!
Ultimately beyond the hard numbers, you should always consider the liveability aspects of a purchase. A condo can be freehold and next to an MRT station, but these may not mean much to it being a proper home to live in.
Traffic noise, congested roads, and a poorly conceived layout can all be detrimental to the actual liveability of a development. As small and seemingly inconsequential as it may seem, these things can add up.
This article was first published in Stackedhomes.
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