Is it a Good Deal?: Last month, a unit from a freehold boutique condo in District 10 yielded a profit of $3.66 mil
A unit in Dormer Park just sold for a record-high of $5.35 million. (Photo: Samuel Isaac Chua/EdgeProp Singapore)
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Last month, a four-bedroom unit on the ninth storey of Dormer Park was sold for $5.35 million ($2,170 psf), resulting in a profit of $3.66 million. The seller had paid $1.69 million ($686 psf) for the 2,465-sq ft unit in August 2001.
We used our analytics tool, Is it a Good Deal?, to assess whether the buyer of the unit from this freehold boutique condo in District 10 secured a good deal.
Located in an established residential enclave
The 92-unit Dormer Park features a mix of two- to four-bedroom units ranging from 1,227 sq ft to 2,540 sq ft. Measuring 2,465 sq ft, the subject unit is one of the larger units in the development.
The condo obtained its temporary occupation permit (TOP) in 1993, making it 32 years old. However, its freehold tenure would have mitigated lease decay.
Located along Jervois Road in prime District 10, Dormer Park is a short drive to Orchard Road and the CBD. However, there are no MRT stations within walking distance. Redhill MRT Station is the nearest, but it is approximately 740 m away (see Map 1).
Source: EdgeProp LandLens (as at 11 December 2025)
Schools within a 1 km radius of Dormer Park include Alexandra Primary School, Crescent Girls’ School, Gan Eng Seng School and Queenstown Secondary School (see Screenshot 1). Other nearby amenities include Valley Point, Redhill Market and Food Centre, Delta Swimming Complex and Tiong Bahru Park.
Our tool also indicated that the price paid for the subject unit is above the average for the condo but significantly below that for District 10 (see Screenshot 2).
Source: EdgeProp Is it a Good Deal (as at 11 December 2025)
Price growth on par with peers in the same district
Since 2015, the average resale price of Dormer Park has surged by 49.3% to $2,102 psf (see Chart 1). So far this year, eight units have changed hands, a record high for the boutique condo.
Source: EdgeProp Market Trends (as at 11 December 2025)
Additionally, the average resale price of Dormer Park ($2,102 psf) is significantly higher than that for freehold condos islandwide that are 31 to 40 years old ($1,843 psf), but lower than that for similar condos in District 10 ($2,243 psf) (see Chart 2).
Despite having the highest average resale price, such condos in District 10 achieved a lower price growth of 30.8% since 2020 compared to their islandwide peers (35.4%). Meanwhile, Dormer Park reported a price growth of 30.7%, on par with its counterparts in District 10.
Source: EdgeProp Market Trends (as at 11 December 2025)
So far this year, six units in Four Seasons Park have been sold, averaging $3,345 psf. This could have contributed to the high average resale price commanded by similar condos in District 10. Located along Cuscaden Walk in District 10, Four Seasons Park is a freehold condo that obtained its TOP in 1994.
Seven out of eight transactions cross the $2,000 psf threshold
At the time of writing, eight units from Dormer Park have been sold this year. Of these, seven transacted for more than $2,000 psf (see Table 1). The subject unit was sold for $2,170 psf, tying for first place with a 1,249-sq ft unit on the fifth storey that was sold last month.
Source: EdgeProp Buddy (as at 11 December 2025)
The seller of the subject unit sold it for $5.35 million ($2,170 psf) in November, resulting in a profit of $3.66 million. They had purchased the unit in August 2001 for $1.69 million ($686 psf).
In comparison, the seller of the fifth-storey unit pocketed a smaller gain of $985,000 despite also selling at $2,170 psf. This could be because the unit is smaller at 1,249 sq ft. Furthermore, the seller bought the unit at a higher $1,380 psf in June 2012. Notably, the same unit generated a loss of $530,000 when a previous seller sold it for $800,000 ($641 psf) in June 2005 after buying it for $1.33 million ($1,065 psf) in February 1996 (see Table 2).
Source: EdgeProp Buddy (as at 11 December 2025)
Record-high price for Dormer Park
The subject unit also achieved the condo’s highest price of $5.35 million, while a unit on the eighth storey took second place at $5.125 million (see Table 3). Thus far, these two units are the only ones in Dormer Park to have crossed the $5 million mark. Third place goes to a seventh-storey unit that fetched $4.45 million ($1,896 psf). Notably, all these transactions took place this year.
Source: EdgeProp Buddy (as at 11 December 2025)
Most recent unprofitable transaction occurred more than 15 years ago
The most recent unprofitable transaction at Dormer Park took place in September 2009, when a 1,238-sq ft unit on the fourth storey was sold for $1.35 million ($1,091 psf), resulting in a loss of $70,000. The seller had purchased the unit for $1.42 million ($1,147 psf) in October 1997.
Thus far, Dormer Park has recorded only one million-dollar unprofitable transaction. This took place in May 2002 when the seller sold a 1,249-sq ft unit on the 10th storey for $808,000 ($647 psf), chalking up a loss of $1.192 million. They had bought it for $2 million ($1,602 psf) in September 1998.
However, the same unit later generated a million-dollar profit. The low purchase price benefitted the owner when they sold it for $2.025 million ($1,622 psf) in January 2018, allowing them to pocket a profit of $1.225 million (see Table 4).
Source: EdgeProp Buddy (as at 11 December 2025)
Many freehold neighbours
There are 18 condos within a 500 m radius of Dormer Park, of which only Principal Garden, Mon Jervois, The Crest and Jervois Jade are 99-year leasehold developments. The remaining 14 are freehold condos.
Among the freehold neighbours, only Sheares Villa (65 units), Alessandrea (105 units), Jervois Lodge (108 units) and Jervois Mansion (130 units) have fewer than 150 units. Jervois Lodge is adjacent to Dormer Park, while the other three are further away (see Map 2).
Source: EdgeProp LandLens (as at 11 December 2025)
Of the four, Jervois Lodge is also the closest in age to Dormer Park. Jervois Lodge obtained its TOP in 1997, making it only four years younger. Sheares Villa and Alessandrea obtained their TOP in 2003, while Jervois Mansion is the youngest, having obtained its TOP last year.
More affordable option in prime District 10?
Based on caveats lodged at the time of writing, there are no sale transactions for Jervois Lodge this year. However, five units in Jervois Lodge were sold last year, averaging $1,859 psf, lower than Dormer Park’s average price of $2,023 psf then (see Chart 3). Both condos also trended below last year’s average for freehold condos in District 10 ($2,294 psf).
This year, the average resale price of Dormer Park ($2,102 psf) is still below that of its peers in the same district ($2,416 psf). This could be driven by the higher price growth achieved by District 10’s freehold condos (5.3% y-o-y) since last year compared to Dormer Park (3.9% y-o-y).
Source: EdgeProp Market Trends (as at 11 December 2025)
Conclusion
The recent price of $5.35 million achieved at Dormer Park marks a record high for the condo, but its average resale price of $2,102 psf remains below that of its peers in District 10. This suggests that Dormer Park may be a more affordable option for those who are keen to live in the prime district.
A drawback of Dormer Park could be its age. It is 32 years old as the condo obtained its TOP in 1993. However, this could be mitigated by its freehold tenure and proximity to Orchard Road and the CBD, allowing the development to continue generating million-dollar profits and record-high prices.
To learn more about this transaction, and whether it is a good deal, click here.
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