Queenstown and Redhill Private Home Prices Surge Closer to River Valley Levels

Recent CCR government land sales have seen developers bid aggressively. The River Valley Peck Hay Road plot was sold at S$1,865 per square foot per plot ratio (psf ppr), the second-highest government land price in the district’s history.

Huttons CEO Yip Runming told Lianhe Zaobao: “Based on current CCR land price trends, new private homes launched in the district by 2027 could reach the S$3,600 psf level.” As CCR prices climb ever higher, many buyers are being priced out, and property agents often advise them to consider other Central Region (RCR) locations instead.

OrangeTee chief research and strategy officer Sun Yanqing (Christine Sun) noted that the sub-divided market provides buyers with a comprehensive price reference, helping them establish reasonable price expectations.

The price gap between River Valley and Queenstown/Redhill new launches has narrowed significantly. Taking two projects as an example: River Green (Jia Xi Lv Yuan) on Zion Road had an average unit price of S$3,130 psf, while Promenade Peak on the same road, with relatively smaller units, averaged S$2,894 psf, a difference of just S$236 psf. For a 1,000-square-foot unit, the price gap would be about S$236,000.

However, one is classified as CCR and the other as RCR, despite being just a road apart. Based on OrangeTee data, Redhill’s new private home average PSF rose from S$1,909 in 2020 to S$3,165 in 2026, a jump of 49 per cent. Queenstown’s new launch average PSF reached S$2,722 in 2025, before dipping slightly this year.

In the resale market, OrangeTee data shows River Valley’s average resale PSF reached S$2,544, up about 14 per cent from S$2,123 in 2020. Redhill’s resale PSF climbed 30 per cent over the same period, while Queenstown’s resale prices surged an even steeper 51 per cent.

The general impression that western Singapore properties are the cheapest does not necessarily hold true. OrangeTee data shows Tsai Cuigang (Cai Cuigang) noted that private condo average resale PSF in the Sembawang area rose from S$816 in 2020 to S$1,154 today, up 41 per cent. In Jurong West, resale PSF jumped from S$1,075 to S$1,607, a 49 per cent increase.

PropNex’s Sun Yanqing said: “Going forward, the measure of CCR location value may no longer simply be distance from the CBD, but rather proximity to various sub-regional centres such as Jurong Lake District, Bishan sub-regional centre, and Tampines regional centre.”