Is it a Good Deal?: A freehold condo along Emerald Hill Road sold at a loss of $410,674
111 Emerald Hill has chalked up three million-dollar losses since its launch in 2010. (Photo: Samuel Isaac Chua/EdgeProp Singapore)
Ask Buddy
In September, a three-bedroom unit on the sixth storey of 111 Emerald Hill was sold for $4.65 million ($2,193 psf), resulting in a loss of $410,674. The seller had purchased the 2,121-sq ft unit in November 2013 for $5.061 million ($2,387 psf).
We used our analytics tool, Is it a Good Deal?, to assess whether the buyer of the freehold condo unit in prime District 9 secured a good deal.
Short walk to premier shopping belt
111 Emerald Hill is a freehold boutique condo located along Emerald Hill Road in District 9. Its prime location just outside Orchard Road puts it within walking distance of numerous malls and hotels, including The Paragon, The Centrepoint, Cuppage Plaza, Peranakan Place, Orchard Gateway, Orchard Central, 313 Somerset, The Quincy Hotel, York Hotel, Holiday Inn Singapore Orchard City Centre, Holiday Inn Express Singapore Orchard Road and Hilton Singapore Orchard (see Screenshot 1).
Source: EdgeProp Is it a Good Deal (as at 30 September 2025)
The condo also enjoys excellent connectivity, being a short drive away from the Central Expressway. It is also within walking distance of Somerset MRT Station, which is only one stop away from dual-line Orchard MRT Station and triple-line Dhoby Ghaut MRT Station.
The main drawback of its location is the limited number of nearby schools. Anglo-Chinese School (Junior) and St. Margaret’s School (Primary) are the only two schools within a 1km radius (see Map 1).
Source: EdgeProp LandLens (as at 30 September 2025)
111 Emerald Hill obtained its temporary occupation permit (TOP) in 2011, making it 14 years old. The freehold condo features only 40 units, comprising a mix of three-bedroom and four-bedroom units. The majority of the units range in size from 1,970 sq ft to 2,497 sq ft. Hence, the subject unit is one of the larger units in the development.
Our tool also indicated that the transacted price of $2,193 psf for the subject unit is below the average price for 111 Emerald Hill. Additionally, the transacted price is below the average price for condos in District 9 (see Screenshot 2).
Source: EdgeProp Is it a Good Deal (as at 30 September 2025)
Price fell 13% since launch in 2010
Despite its prime location and freehold tenure, the average price of 111 Emerald Hill has declined by 13% from $2,642 psf during its launch in 2010 to this year’s $2,298 psf (see Chart 1).
Source: EdgeProp Market Trends (as at 30 September 2025)
Furthermore, the average resale price of 111 Emerald Hill ($2,298 psf) is lower than that for freehold condos in District 9 that are 11 to 20 years old ($2,411 psf) (see Chart 2). Meanwhile, similar condos across the island ($1,979 psf) reported a significantly lower average resale price.
Notably, the average resale price of 111 Emerald Hill dipped by 1.6% since 2020. In contrast, the average resale prices of similar condos in District 9 and islandwide increased by 13.1% and 24.6%, respectively.
Source: EdgeProp Market Trends (as at 30 September 2025)
This year’s transactions have been unprofitable
The price decline of 111 Emerald Hill could explain why the condo has chalked up 12 unprofitable and only three profitable transactions since its launch. Losses range from approximately $122,000 to $1.08 million, while profits range from approximately $46,000 to $450,000.
Thus far, three transactions have resulted in million-dollar losses (see Table 1), with the most recent one having taken place in May last year. To date, this transaction has yielded the highest loss for the condo.
The seller bought the ninth-storey unit in August 2012 for $6.88 million ($2,853 psf) and sold the 2,411-sq ft unit for $5.8 million ($2,406 psf), resulting in a loss of $1.08 million.
Source: EdgeProp Buddy (as at 30 September 2025)
The unit involved in the record-high loss is a four-bedder that comprises an en-suite master bedroom and a second en-suite bedroom (see Floor Plan 1). The other two bedrooms share a private bathroom. The spacious unit also features a private lift, a powder room, wet and dry kitchens, and a sizable balcony that spans the width of the living and dining area.
Source: EdgeProp Research
So far this year, only three resale transactions have taken place for the condo and all have resulted in losses ranging from approximately $122,000 to $573,000 (see Table 2). Hence, the loss of $410,674 for the subject unit is on the upper end of this year’s loss spectrum despite being significantly lower than the condo’s record-high loss of $1.08 million.
The seller bought the subject unit in November 2013 for $5.061 million ($2,387 psf). The sixth-storey unit was sold in September for $4.65 million ($2,193 psf).
Source: EdgeProp Buddy (as at 30 September 2025)
The subject unit features an en-suite master bedroom with a walk-in wardrobe and a private balcony. It also has two additional bedrooms that share a balcony. The unit includes a private lift, wet and dry kitchens, a common bathroom and a powder room (see Floor Plan 2).
Source: EdgeProp Research
Interestingly, another unit from the same stack was also sold in September for a loss, albeit a smaller one of $122,135 (see Table 2). The seller bought the seventh-storey unit in October 2012 for $5.122 million ($2,416 psf) and sold it for $5 million ($2,358 psf).
Most recent profitable transaction was in 2023
To date, there have been only three profitable transactions for 111 Emerald Hill. The most recent took place in February 2023 when a 1,970-sq ft unit was sold for $5.15 million ($2,614 psf), resulting in a profit of $46,325. The seller had purchased the three-bedroom unit in October 2012 for $5.104 million ($2,591 psf) (see Table 3).
The reason for the profit could be that the seller sold the unit at $2,614 psf in 2023 when the average resale price for the condo was $2,344 psf.
Source: EdgeProp Buddy (as at 30 September 2025)
Numerous freehold neighbours but few are comparable
There are 37 condos, representing approximately 3,700 units, within a 500m radius of 111 Emerald Hill. With the exception of The Centrepoint and Cairnhill Nine, all of the nearby condos are freehold developments.
Among the freehold neighbours, 12 have 50 units or fewer. Of these, Residences at Emerald Hill is the most comparable as it is adjacent to 111 Emerald Hill (see Map 2). Additionally, both condos obtained TOP in 2011, and Residences at Emerald Hill is also a boutique development with only 33 condo units and four landed homes.
Source: EdgeProp LandLens (as at 30 September 2025)
However, the most recent sale caveat for Residences at Emerald Hill was lodged in August 2021 when a 1,658-sq ft unit was sold for $3.87 million ($2,335 psf), resulting in a loss of $430,000. The seller bought the unit in December 2013 for $4.3 million ($2,594 psf).
The next most comparable developments would be Rhapsody on Mount Elizabeth (32 units) and Alba (50 units). Rhapsody on Mount Elizabeth obtained its TOP in 2010, making it a year older than 111 Emerald Hill. Meanwhile, Alba obtained its TOP in 2015. However, both are further from 111 Emerald Hill (see Map 3).
Source: EdgeProp LandLens (as at 30 September 2025)
Unfortunately, the most recent sale transactions for both were in 2023. The most recent transaction for Alba took place in April 2023 when a 1,905-sq ft unit was sold for $7.6 million ($3,989 psf).
Meanwhile, the most recent transaction for Rhapsody on Mount Elizabeth was in October 2023 when a 1,561-sq ft unit was sold for $3.5 million ($2,242 psf), resulting in a loss of $90,300. The seller had bought the unit in June 2011 for $3.59 million ($2,300 psf).
Interestingly, the same unit was involved in an earlier transaction that resulted in a profit of $935,150. The previous seller bought the unit from the developer in December 2006 for $2.655 million ($1,701 psf) and sold it in June 2011 for $3.59 million ($2,300 psf) (see Table 4).
Source: EdgeProp Buddy (as at 30 September 2025)
Conclusion
The loss of $410,674 chalked up by the subject unit may be at the upper end of the loss spectrum this year, but it is still significantly lower than the record-high loss of $1.08 million for 111 Emerald Hill.
Furthermore, the freehold condo has experienced a price decline of 13% since its launch in 2010, which has contributed to its 12 unprofitable transactions. To date, it has only recorded three profitable transactions, the most recent of which took place in 2023.
Additionally, the price decline could have contributed to the average resale price of 111 Emerald Hill being below that of freehold condos in District 9 and islandwide that are of similar age.
To learn more about this transaction, and whether it is a good deal, click here.
Check out the latest listings for 111 Emerald Hill, Residences At Emerald Hill, Rhapsody On Mount Elizabeth, Alba properties
Ask Buddy
Follow Us
Property updates, 24/7.
Subscribe to Newsletter
Market insights, delivered weekly.
Top Articles
Search