Property Market in Upper Thomson

Upper Thomson commands prices above the Singapore-wide average. According to URA transaction records from 2022 to 2025,D26 has recorded 4,315 private residential transactions, making it a moderately active district with steady deal flow. The median condominium and apartment price stands at S$1.8M, which is 7% above the Singapore-wide median of S$1.7M.

Thomson Road is a major trunk road linking Singapore's central business district with the northern suburban areas of the country. The road is one of the longest in Singapore, starting from Novena in the south towards MacRitchie Reservoir, before continuing northwards as Upper Thomson Road towards Yishun and Sembawang.

The private residential market in Upper Thomson spans 7 property categories. Apartments dominate with 2,860 transactions at a median of S$1.9M, while condominiums trade at S$1.7M. The distinction between condominiums and apartments in Singapore is largely regulatory (condominiums must meet a minimum land area of 4,000 sqm and include recreational facilities), but prices also reflect differences in unit size and development scale.

Upper Thomson also has an active landed property segment. Terrace houses trade at a median of S$3.9M, semi-detached homes at S$4.5M, and detached houses at S$6.0M. Landed properties in Upper Thomson offer an alternative to high-rise living at prices that vary significantly with plot size and condition.

Tenure is a defining factor in Upper Thomson's property pricing. Freehold properties trade at a median of S$3.2M, while 99-year leasehold units trade at S$1.8M. That is a 74% premium for freehold, or approximately S$1.4M more in absolute terms.

On a per-square-metre basis, the gap narrows somewhat: freehold at S$16,732/sqm versus leasehold at S$22,611/sqm. For buyers weighing freehold versus leasehold in Upper Thomson, the key question is time horizon. Freehold properties hold value over decades and face no lease decay, but new 99-year leasehold developments often offer modern facilities and layouts at a lower entry price. New leasehold launches have been active in Upper Thomson, with 3,760 transactions versus 487 freehold.

For condominiums and apartments in Upper Thomson, floor level creates a measurable price gradient. Units on floors 21-25 sell for a median of S$2.1M, while units on floors 01-05 sell for S$1.7M. That is a 22% premium for higher floors, worth approximately S$370K per unit.

In Upper Thomson, the high-floor premium reflects better ventilation, natural light, reduced noise, and improved views. Buyers targeting a specific development can use this gradient to estimate how much they save by choosing a mid-floor unit instead of a top-floor one.

Rental rates in Upper Thomson average S$3.54 psf per square foot per month, placing the district relatively affordable rental rates, making it accessible for tenants on a tighter budget. The highest rents are commanded by THE CALROSE at S$3.71 psf.

The rental spread within Upper Thomson runs from S$3.35 psf at SEASONS PARK to S$3.71 psf at THE CALROSE. This range reflects differences in development age, finish quality, proximity to MRT, and whether the unit is furnished. Investors evaluating gross rental yield in Upper Thomson should compare these rates against the purchase price per square foot to assess returns.

The most actively traded development in Upper Thomson is SPRINGLEAF RESIDENCE on UPPER THOMSON ROAD, with 753 URA-recorded transactions at a median of S$1,877,000. LENTOR HILLS RESIDENCES follows with 580 transactions at S$1,870,500.

High transaction volumes typically indicate active secondary markets with good liquidity. Buyers who may need to sell within a few years should consider developments with proven resale activity, as these tend to attract a broader pool of buyers when the time comes.

In pricing terms, Upper Thomson sits closest to Middle Road (S$1.9M), Upper Bukit Timah (S$1.9M), Queenstown (S$2.0M). Buyers looking for a lower entry point could consider Kranji at S$1.1M, which is 70% cheaper. Those with a larger budget might look at Telok Blangah at S$2.6M.