Last month, a four-bedroom unit on the sixth storey in Maple Woods was sold for $6.2 million ($2,125 psf), earning the seller a profit of $3.52 million. The seller had purchased the 2,917-sq ft unit in April 2007 for $2.68 million ($919 psf).

We used our analytics tool, Is it a Good Deal?, to assess whether the buyer of this unit from the freehold condo along Bukit Timah Road had secured a good deal.

Short walk to King Albert Park MRT Station

Maple Woods is a freehold condo located along Bukit Timah Road within District 21 and the Bukit Timah Planning Area. The 697-unit development comprises a mix of three-bedroom to five-bedroom units, with the majority ranging in size from 850 sq ft to 2,971 sq ft.

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Amenities within walking distance include King Albert Park MRT Station, Dunearn Village as well as Methodist Girls’ School (Primary and Secondary) (see Map 1). Other schools within a 2km radius include Bukit Timah Primary School, Henry Park Primary School and Pei Hwa Presbyterian Primary School.

Maple Woods obtained its temporary occupation permit (TOP) in 1997, making it 29 years old. However, its freehold tenure could have mitigated some of the negative impact of lease decay, thus enabling the seller of the subject unit to achieve a million-dollar profit (see Screenshot 1).

Our tool also indicated that the transacted price for the subject unit was only marginally above the average for Maple Woods and lower than the average price for several nearby projects (see Screenshot 2). However, the subject unit fetched a price that was significantly higher than the average for District 21.

Trending higher than District 21 and islandwide

At the time of writing, the subject unit represents this year’s lone sale transaction for Maple Woods. Last year, 13 units in the condo were sold at an average price of $2,219 psf, slightly higher than the $2,215 psf achieved by the subject unit (see Chart 1). This year’s average price for the condo may have been skewed by the low resale volume, which contributed to the slight dip in price. In comparison, the average resale price for Maple Woods has risen by 23% since 2020.

The average resale price of Maple Woods ($2,125 psf) has consistently trended above that of freehold condos of a similar age located in District 21 ($1,817 psf) and islandwide ($1,754 psf) (see Chart 2).

However, Maple Woods recorded the weakest price growth of 23% since 2020. In comparison, similar condos in District 21 and islandwide recorded price increases of 41.6% and 31.2%, respectively.

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Two profits exceeded $3 million

At the time of writing, Maple Woods had recorded 439 profitable transactions with profits ranging from approximately $500 to $3.99 million. Of the 79 transactions that yielded million-dollar profits, the seller of the subject unit is one of only two who pocketed profits exceeding $3 million (see Table 1).

The subject unit generated a profit of $3.52 million when it was sold last month for $6.2 million ($2,125 psf). The seller had bought the 2,917-sq ft unit in April 2007 for $2.68 million ($919 psf). The profit from this transaction is the second highest for Maple Woods.

Interestingly, the same unit was involved in an earlier transaction that resulted in a loss of approximately $18,262. The previous owner purchased the unit for $2.698 million ($925 psf) in May 1997 and sold it in April 2007 for $2.68 million ($919 psf) (see Table 2).

The unit involved in the record-high profit for Maple Woods is a four-bedder on the ninth storey. The seller purchased the 2,551-sq ft unit for $1.46 million ($572 psf) in January 2004 and sold it for $5.45 million ($2,136 psf) in May 2025, resulting in a profit of $3.99 million.

The long holding period could have contributed to both sellers achieving profits above $3 million. The seller of the subject unit held it for around 19 years, from 2007 to 2026. Over the same period, the average resale price of Maple Woods more than doubled from $935 psf in 2007 to $2,125 psf this year (see Chart 1).

Meanwhile, the seller of the unit that yielded the record-high profit of $3.99 million held it for about 21 years, from 2004 to 2025. During this time, the average resale price of Maple Woods surged from $600 psf in 2004 to $2,219 psf last year.

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Only one million-dollar loss

In contrast, 133 unprofitable transactions have been recorded for Maple Woods, but only one incurred a million-dollar loss. Notably, the record-high loss of $1.107 million took place more than 20 years ago, in March 2005 when the seller sold a 2,917-sq ft unit for $1.582 million ($542 psf). The seller had purchased the unit in May 1997 for $2.689 million ($922 psf).

The same unit was involved in several other sub-sale or resale transactions, but only the above-mentioned transaction resulted in a loss. The other transactions generated profits ranging from approximately $218,000 to $1.3 million (see Table 3).

Five freehold neighbours

There are six condos within a 500m radius of Maple Woods. All are freehold developments, with 999-year leasehold The Blossomvale being the lone exception. The five freehold neighbours are Casa Esperanza, Floridian, The Cascadia, The Nexus and The Sterling (see Map 2).

Among the freehold condos, the 697-unit Maple Woods is the largest, followed by The Cascadia(536 units) and Floridian (336 units). These three condos are the only ones with more than 300 units. The remaining freehold neighbours are smaller developments. The Nexus has 242 units while The Sterling and Casa Esperanza feature 232 units and 90 units, respectively.

In terms of age, The Sterling is the closest in age to Maple Woods. Having obtained its TOP in 2000, it is only three years younger than Maple Woods (TOP in 1997). Casa Esperanza (TOP in 1992) is five years older, while The Nexus (TOP in 2006) is nine years younger. Floridian is the youngest (TOP in 2012), followed by The Cascadia (TOP in 2010).

A comparison of last year’s average resale prices shows that The Sterling ($2,275 psf) was priced higher than Maple Woods ($2,219 psf) and The Cascadia ($2,171 psf) (see Chart 3). However, no resale transactions have been recorded for The Sterling thus far this year. Meanwhile, Maple Woods and The Cascadia have achieved average resale prices of $2,215 psf and $2,432 psf, respectively.

The Sterling also commanded the strongest price growth of 41.6% from 2020 to 2025. In comparison, The Cascadia and Maple Woods reported price increases of 31.7% and 28.4%, respectively.

Like Maple Woods, The Cascadia has recorded only one transaction so far this year. The seller sold the 1,184-sq ft unit for $2.88 million ($2,432 psf) last month, resulting in a profit of $1.201 million. The unit was purchased in November 2010 for $1.679 million ($1,418 psf).

At the time of writing, nine transactions at The Cascadia achieved million-dollar profits, but none exceeded $1.3 million. This year’s million-dollar profit ranks as the fifth highest (see Table 4).

Conclusion

The recent sale of a 2,917-sq ft unit in Maple Woods yielded a profit of $3.52 million, the second highest recorded for the condo. Thus far, the 29-year-old development has chalked up two profitable transactions with profits exceeding $3 million. Its freehold tenure and close proximity to King Albert Park MRT Station may have helped mitigate the negative impact of age and lease decay. Additionally, the sellers of the two units that yielded the top profits benefited from the gradual price increases at Maple Woods, as both held their units for a long period.

To learn more about this transaction, and whether it represents a good deal, click here.

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