From S$1,117 per square foot in 2021 to S$2,600 in 2026 — Alwyn Park's recorded pricing has more than doubled in five years, one transaction at a time. This freehold terrace-house development of 38 units on Hong Lee Place, completed in 1992 by Alwyn Development, has quietly become one of District 19's strongest recorded performers, with its latest sale crossing at S$4.2 million (as of 2026-04).
The run has pushed the estate to the 91.3rd percentile of district pricing — remarkable for homes now 34 years old. But the ascent is built on famously thin air: six sales in the entire record, and just one in the trailing twelve months. Each yearly figure is a single deal or two, so the doubling reflects both a genuine landed-market repricing and the noise of tiny samples (as of 2026-04).
What is not noisy is the underlying asset: freehold landed plots in the Serangoon-Hougang belt, four- and five-bedroom formats, and a building age that has begun to matter — in both directions. Older homes need money spent on them; older estates also creep up en-bloc scoreboards. Alwyn Park now scores 56, a Moderate verdict, and that dual character shapes everything a buyer needs to weigh.
Landed pockets like Alwyn Park sit apart from the condominium mainstream of District 19, but the contrast is instructive. The district's recorded volume leaders — Chuan Park (S$2,596 PSF), The Florence Residences (S$1,750 PSF), Riverfront Residences (S$1,595 PSF) and Affinity at Serangoon (S$1,699 PSF) — are all 99-year leasehold mega-projects. The nearest kindred spirit is Serangoon Garden Estate, the freehold landed enclave averaging S$1,758 PSF at a S$5.21 million average quantum. Against that backdrop, Alwyn Park's trailing average of S$2,600 PSF and S$4.2 million latest quantum (as of 2026-04) position it at the premium end of the area's landed market — priced like scarcity, because it is.
Overview & Key Facts
ALWYN PARK is a freehold condominium at HONG LEE PLACE in District 19 (OCR), developed by ALWYN DEVELOPMENT PTE LTD, comprising 38 units, completed in 1992.
Location & Connectivity
ALWYN PARK is located in District 19. Check the dashboard for full transport connectivity data.
Unit Mix & Pricing
| Type | Sales | Avg PSF | Avg Price |
|---|---|---|---|
| 4 BR | 5 | $2,146 psf | $3,589,000 |
| 5+ BR | 1 | $1,117 psf | $4,100,000 |
Market Position
ALWYN PARK has recorded 6 sales at an average price of $3,674,167.
Ranks in the top 9% of condos in District 19 by average PSF.
Price Appreciation
| Year | Sales | Avg PSF | YoY |
|---|---|---|---|
| 2021 | 1 | $1,117 psf | — |
| 2022 | 1 | $1,699 psf | ↑ 52.1% |
| 2023 | 1 | $1,954 psf | ↑ 15.1% |
| 2024 | 2 | $2,240 psf | ↑ 14.6% |
| 2026 | 1 | $2,600 psf | ↑ 16.1% |
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ALWYN PARK prices sit at a fresh series high after a 16.1% gain on the prior period, now 132.8% above the 2021 starting level.
Neighbourhood Comparison
| Condo | Tenure | Avg PSF | Sales |
|---|---|---|---|
| CHUAN PARK | 99 yrs lease commencing from 2024 | $2,596 psf | 882 |
| THE FLORENCE RESIDENCES | 99 yrs lease commencing from 2018 | $1,750 psf | 866 |
| RIVERFRONT RESIDENCES | 99 yrs lease commencing from 2018 | $1,595 psf | 642 |
| AFFINITY AT SERANGOON | 99 yrs lease commencing from 2018 | $1,699 psf | 602 |
| SERANGOON GARDEN ESTATE | Freehold | $1,758 psf | 483 |
What Could Work Against You
- Only 1 transactions were recorded in the past 12 months, so the price figures here rest on a thin sample — a single outlier deal can move the averages.
- At 38 units, this is a boutique development — fewer comparable sales to anchor valuations, and maintenance costs spread across a smaller fee base.
- Completed in 1992, the development is over 34 years old — budget for rising maintenance, dated M&E systems, and the possibility that value increasingly rests on en-bloc potential rather than the units themselves.
Best suited for
Who This Actually Suits
Buyers most likely to be happy here: families with young children, long-term hold (10+ yr), en-bloc speculators and freehold / generational hold. Family-suitable layout and OCR (Outside Central Region) location with established school catchments nearby.
first-time hdb upgraders should treat this as a shortlist candidate, not a default choice.
It is a weaker fit for yield-focused investors and resort facilities — other options likely serve them better. OCR (Outside Central Region) location with rental demand profile worth running through our Rental Yield Calculator.
One caution flagged here: avoid if mrt-dependent — MRT access is meaningfully constrained — transit-dependent buyers should consider better-connected alternatives.
The capital-growth record, thin as it is, points one way. Yearly recorded PSF ran S$1,117 (2021), S$1,699 (2022), S$1,954 (2023), S$2,240 (2024) and S$2,600 (2026) — a stair-step of higher prints across five years with no down year in the sequence (as of 2026-04). Single-transaction years demand humility, but a five-rung ascending ladder is more than coincidence: it tracks the broader repricing of freehold landed stock across the north-east.
The asset class itself is the second strength. Freehold terrace homes cannot be rebuilt into existence in the OCR — land supply for them is essentially fixed — and Alwyn Park's four-bedroom formats, which account for five of the six recorded sales at an average S$3.59 million, sit in the sweet spot for upgrading families. Compare the trajectory of the surrounding landed market on the landed price map and the estate's percentile ranking makes sense.
Third, the en-bloc dimension has become live. At 34 years of age, with 38 units and an estimated plot ratio contribution, ShiokNest scores Alwyn Park at 56 — a Moderate verdict that reflects genuine, if speculative, redevelopment optionality. Owners are not waiting on it, but buyers get the option embedded in the land price.
Finally, the rental market, though small, is priced with respect: seven contracts from S$5,000 to S$7,800 a month, averaging S$6,271 (as of 2026-04). Family-sized landed rentals in this belt are scarce, and tenants pay accordingly. An owner between life stages can lease the home credibly rather than sell into a thin market — sketch that fallback with the rental cash flow calculator.
Transit is the plainest weakness. The digest records no MRT station within its nearby radius, and the persona data explicitly warns off MRT-dependent households — this is a drive-first estate, full stop. A family running two careers on public transport should not talk themselves into it; the daily friction compounds, and resale demand will always skew toward car-owning buyers, narrowing the eventual exit pool.
Age is the second cost the headline price conceals. A 1992-vintage terrace at 34 years old typically needs substantial refurbishment — roofing, rewiring, plumbing, possibly structural work — on top of the S$3.6 million-plus entry. Budget realistically: the true acquisition cost is purchase plus renovation, and the total cost calculator is the right place to assemble that figure before an offer, not after.
The yield mathematics are unforgiving. A S$6,271 average rent against a S$3.67 million average price produces roughly 2.05% gross (as of 2026-04) — and that from only seven lifetime rental contracts. The investment score of 22 in the underlying data reflects this: weak income, zero recorded transactions in most years, and price momentum that cannot be statistically verified from six sales. Anyone underwriting Alwyn Park as an income asset is using the wrong tool for the job.
Last, the liquidity caveat applies with full force: one sale in the trailing twelve months means sellers wait for their buyer, and valuations can lag the latest optimistic print.
- ✅ Families with young children
- ✅ Long-term hold (10+ yr)
- ✅ En-bloc speculators
- ✅ Freehold / generational hold
- ⚠️ First-time HDB upgraders
- ❌ Yield-focused investors
Alwyn Park is a land bet with a house attached, and the last five years have paid that bet handsomely — S$1,117 to S$2,600 PSF across the recorded prints, culminating in a S$4.2 million sale (as of 2026-04). The 91.3rd-percentile district ranking says the market has noticed; the Moderate en-bloc score of 56 says the story may have a second act.
The right shortlister is a car-owning family or a generational buyer who wants freehold landed space in the north-east and can fund both the purchase and a serious renovation of a 1992-vintage home. For them, the calculus is favourable: fixed-supply land, family-sized formats, a credible S$6,271-a-month rental fallback, and optionality on redevelopment they never have to exercise.
The wrong shortlister is anyone who needs income, speed or a train. The 2.05% gross yield, the single trailing-twelve-month transaction and the absence of nearby recorded MRT access settle those cases respectively. Buyers ready to proceed should stress-test their loan structure with the TDSR calculator — landed quantums at this level leave little slack — and then negotiate off the full six-print history, not just the latest high.
One closing discipline matters more here than in high-volume projects: a 2.05% gross yield (as of 2026-04) leaves little cushion once maintenance, property tax and vacancy are netted off, so build the full monthly ledger rather than trusting the headline figure. The cash-flow calculator covers that arithmetic in a few minutes and costs nothing but attention.
FAQ
What is the average PSF for ALWYN PARK?
Is ALWYN PARK freehold?
What is the rental yield for ALWYN PARK?
What should buyers budget beyond the purchase price?
Sources & Next Steps
- ALWYN PARK Dashboard — Live charts and analytics
- URA REALIS — Official transaction data
- District 19 (Punggol, Hougang, Serangoon Gardens) — District 19 neighbourhood guide
Methodology & Sources
This analysis covers All available years and refreshes as new data becomes available.
Transaction data sourced from URA REALIS.
- Sales data: 6 transactions
- Rental data: 7 leases
- Source: URA REALIS
Median values used to minimise outlier impact. PSF = price per square foot.
Latest recorded data point: Apr 2026 · 6 records analysed · Source: URA private-sale caveats
Price Index Check
The ShiokNest Price Index for District 19 reads 137.0 as of June 2026 — up 2.0% year-on-year. The index tracks repeat-sales price movement, so it is less distorted by shifts in what happens to be transacting than a raw average PSF.
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