Market Insight | Orchard and District 9 to 10 | October 2026
If you want to walk to Orchard Road for dinner, take the lift down to the MRT and never sit in traffic again, a condo around Orchard is the address that gives you that. It is also one of the most expensive per square foot in Singapore. A new leasehold tower next to Orchard Boulevard MRT now averages over $3,500 psf, while an older freehold block a few streets away sells for about $2,300. Which one makes sense depends on whether you are buying a lifestyle, a lease or a long-term store of wealth.
Direct answer
Prices around Orchard have kept rising. UpperHouse at Orchard Boulevard, a 301-unit, 99-year tower beside Orchard Boulevard MRT, launched at an average of $3,350 psf in July 2025, averaged about $3,516 psf over the last 12 months and hit $3,877 psf in July 2026 (EdgeProp, Yahoo News Singapore). The Draycott, a freehold block completed in 1980, averaged about $2,304 psf over the year to August 2026, up from $1,719 a decade earlier. Buy new for the location and the finishes. Buy older freehold for space and tenure.
Why you would buy around Orchard
Buy around Orchard if you want to live in the middle of the city, you value walking to shops, restaurants and the MRT over space, and you plan to hold for ten years or more. If you need a high rental yield or a lot of space for your money, the suburbs give you more.
The city at your door
UpperHouse sits beside Orchard Boulevard MRT on the Thomson-East Coast Line (Yahoo News Singapore). From the Orchard area, the shops, hotels, medical centres and the CBD are minutes away. For empty-nesters moving out of a landed home, or professionals who would rather walk than drive, that convenience is the point.
Demand at the top end has held up
In the first quarter of 2026, 75 condo units in the Core Central Region sold above $3,000 psf and $5 million, the most since late 2023 (Yahoo News Singapore). Singapore's stability and currency strength continue to draw wealthy buyers. That supports prices at the top of the market, even though it does not guarantee them.
Freehold options for long-term wealth
Older freehold blocks around Orchard and Holland, such as The Draycott, offer large units with no lease running down. The Draycott's one-year average rose from about $1,719 psf in 2016 to about $2,304 psf in 2026 (Yahoo News Singapore). For a family that wants to pass a home on, that combination of tenure and location is hard to replace.
Who should not buy around Orchard
- You need rent to cover the loan. Yields at $3,000 psf and above are low, and maintenance fees in luxury buildings are high.
- You want the most space for your money. The same budget buys a much larger home outside the city centre.
- You are a foreign buyer. ABSD of 60% makes the numbers very hard to justify (IRAS).
- You might sell within five years. Transaction costs and a narrower pool of buyers make short holds risky at this price.
New leasehold, older freehold, or the next launch?
Choose new leasehold for the location and finishes, older freehold for space and tenure, or wait for the Newton launch if you want a new tower and can be patient.
Sources: EdgeProp (UpperHouse project data, accessed October 2026); Yahoo News Singapore (UpperHouse, The Draycott records, August 2026); EdgeProp, The Edge Singapore and URA (Peck Hay Road tender, June 2026). UpperHouse is harmonised; The Draycott was built under older floor-area rules.
What the market isn't telling you
1. You are paying about 50% more per square foot for new
UpperHouse's 12-month average of about $3,516 psf is roughly 50% above The Draycott's $2,304. Part of that is the newer building, the MRT link and the harmonised floor area. Part of it is the cost of new land: Peck Hay Road went for $1,865 psf ppr in June 2026 (EdgeProp). Older freehold blocks give you much more space for the same budget, at the cost of an older building and higher upkeep.
2. Older buildings carry older bills
A 1980 building will need lifts, pipes and facades replaced, and luxury buildings have high running costs. Before buying an older freehold unit, ask for the sinking fund balance, the last two AGM minutes and any planned special levies. Those costs come out of your return.
3. Small units and large units behave differently
More than half of UpperHouse's units are one- and two-bedroom apartments of 474 to 764 sq ft (Yahoo News Singapore). Those suit investors and singles, and there will be many similar units to compete with when you sell. The four-bedroom units of 2,056 sq ft are scarcer, and they set the project's record prices. Decide which market you are buying into.
Strengths and watch points
- Walk to Orchard, the MRT and the CBD
- Strong demand for top-end homes in 2026
- Freehold options for long-term holders
- Steady long-term rise at older freehold blocks
- Rising land costs support new-launch prices
- Low rental yields at these prices
- High maintenance fees in luxury buildings
- 60% ABSD for foreign buyers
- Older buildings need costly upkeep
- Many small units competing at resale
Would you rather
A. A 1,012 sq ft three-bedroom at UpperHouse at around $3,500 psf, about $3.5 million, new and beside the MRT, keys in 2029.
B. A three-bedroom at The Draycott of about 2,637 sq ft at around $2,600 to $2,700 psf, about $7 million, freehold and ready now.
James picks A, for a couple or small family who wants the city lifestyle and a manageable budget. B is far more space, but at double the price and in a 1980 building. For a family that wants a freehold home to pass on, and can afford it, B is the better long-term store of wealth. Check the sinking fund before you choose it.
What I think you should do
Decide first whether you are buying a lifestyle or a long-term asset. If it is the lifestyle, compare UpperHouse's remaining units with recent deals in the same stack, and focus on the larger units, which are scarcer. If it is a long-term asset, look at older freehold blocks and check their building condition, sinking fund and AGM minutes as carefully as the price.
If you are comparing city living with the city fringe, read my Dunearn House review. The prime land pipeline is on my GLS Tracker. For financing and wealth planning, speak to a licensed financial adviser for advice specific to your situation.
Frequently asked questions
How much does a condo near Orchard cost in 2026?+ Read- Hide
It depends on age and tenure. UpperHouse at Orchard Boulevard, a new 99-year tower, averaged about $3,516 psf over the last 12 months (EdgeProp). The Draycott, a freehold block from 1980, averaged about $2,304 psf over the year to August 2026 (Yahoo News Singapore).
Have Orchard condo prices gone up?+ Read- Hide
Yes, over the long run. The Draycott's one-year average rose from about $1,719 psf in 2016 to about $2,304 psf in 2026, over 30% (Yahoo News Singapore). UpperHouse has risen from a $3,350 psf launch average in July 2025 to a record $3,877 psf in July 2026.
Who should not buy a condo around Orchard?+ Read- Hide
Skip it if you need rental income to cover the loan, want the most space for your money, are a foreign buyer facing 60% ABSD, or might sell within five years. Low yields, high fees and transaction costs make short holds risky.
Is UpperHouse at Orchard Boulevard sold out?+ Read- Hide
Not as of the last report. 54 of its 301 units were unsold as of 4 August 2026, based on caveats (Yahoo News Singapore). Check current availability with the developer.
Should I buy new leasehold or older freehold near Orchard?+ Read- Hide
New leasehold gives you a modern building, the MRT link and harmonised floor areas, at about 50% more per square foot. Older freehold gives you more space and no lease decay, but an older building with higher upkeep. Choose by whether you are buying a lifestyle or a long-term asset.
What will the Peck Hay Road condo cost?+ Read- Hide
Prices are not out. CDL and its partner won the Newton site at $1,865 psf ppr in June 2026, and analysts quoted by The Edge Singapore expected an average of about $3,450 to $3,550 psf. About 380 homes are planned in a 39-storey tower.
Looking at a condo around Orchard?
Send me the unit and the price. I'll compare it with recent deals in the building and nearby, and check the building's upkeep, and tell you what I would pay. You get the working in writing. No pitch.
WhatsApp JamesSources+ Show all 9- Hide
- EdgeProp, UpperHouse at Orchard Boulevard project page and transaction data, accessed October 2026
- Yahoo News Singapore, luxury condo UpperHouse at Orchard Boulevard hits fresh high of $3,877 psf, August 2026
- Yahoo News Singapore, daughter of UOL Group CEO buys unit at UpperHouse, Orchard Boulevard
- Yahoo News Singapore, luxury home sales strengthen in 1Q2026 as deals surge above $3,000 psf, 2026
- EdgeProp, CDL and Hong Leong JV submits top bid of $1,865 psf ppr for Peck Hay Road GLS site, June 2026
- The Edge Singapore, CDL-Hong Leong JV tops bids for Peck Hay Road GLS site, June 2026
- URA, tender award for the sale site at Peck Hay Road, 2026
- IRAS, additional buyer's stamp duty rates
- LTA, Thomson-East Coast Line station information
Disclaimer & Licensing+-
This article is for informational and educational purposes only. It does not constitute financial, investment, or legal advice. Property investments involve risk. Past performance is not indicative of future results. Readers should seek independent advice from licensed professionals before making any property or financial decision. James Ong is a licensed real estate salesperson (CEA Reg No. R008385F) with PropNex Realty Pte Ltd and is not a licensed financial adviser.
James Ong | CEA Reg No. R008385F | PropNex Realty Pte Ltd
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