The Alps Residences: 40 Resales At A Median Of S$1,512 psf — But Its Biggest Cheque Wasn't Its Highest psf

Some projects move in a straight line. This one mostly hovers. Over two years of caveats, the quarterly median at The Alps Residences has gone up, come back, and landed close to where it started. The more interesting detail sits underneath that flat line: the largest sale in the window was also one of the softest on a per square foot basis.

According to URA Data Service caveats, The Alps Residences recorded 40 resales over 3Q2025 to 2Q2026, at a median of S$1,512 psf. It is a 99-year leasehold condo in District 18, with 88 years of lease left. Across the eight quarters shown, the quarterly median moved +0.7%, from S$1,495 psf in 3Q2024 to S$1,506 psf in 2Q2026. Here is what stood out to us in the tables.

Two years on, the quarterly median has come back to roughly where it began

The series starts at S$1,495 psf in 3Q2024, on 13 sales. It ends at S$1,506 psf in 2Q2026, on 11 sales. In between, the median peaked at S$1,527 psf in 1Q2025 and dipped to S$1,498 psf in 1Q2026. That is a narrow band for eight quarters of trading. The project is active enough to produce a reading every quarter. But each reading rests on a small count.

The quartile columns are worth a look too. In 3Q2025, the lower quartile sat at S$1,466 psf and the upper at S$1,604 psf. In 4Q2025, the same two columns read S$1,507 psf and S$1,547 psf. The spread tightens and widens from quarter to quarter. That suggests the mix of units transacting changes more than the price level does.

Quarterly counts run between 8 and 13. At that size, two large or two low-floor units can shift the midpoint. The flat line is what the caveats show. It is not proof that every unit type held steady.

The most traded size band is not the one with the highest psf

Units of 50 to 69 sqm did the most work in this window: 17 resales, at a median of S$1,040,000 (S$1,488 psf), on a median area of 700 sqft. The smallest band was next. Units under 50 sqm logged 11 resales at a median of S$760,000 (S$1,512 psf), on 506 sqft.

Per square foot, the top of the table belongs to the larger stock. The 90 to 119 sqm band shows 5 resales at a median of S$1,730,000 (S$1,594 psf). The 120 sqm and above band shows 3 resales at S$2,230,000 (S$1,552 psf). Both counts are small. We would not read a trend into five sales, or three.

The 70 to 89 sqm band sits at S$1,506 psf on 4 resales. So the project's psf spread across bands is tight, with the mid-sized band at the lower end of it. The table below sets the five bands side by side.

Rental contracts have risen every quarter while the median psf rent has eased

The rental side moves in one direction. Contracts went from 34 in 3Q2025 to 37 in 4Q2025, then 47 in 1Q2026, then 51 in 2Q2026. That is the highest count in the four quarters on record here. Over the same stretch, the median rent per square foot a month slipped from 5.3 to 5.1.

Median monthly rent tells a slightly different story. It read S$3,200 in 3Q2025, dropped to S$2,900 in 4Q2025, then returned to S$3,100 and S$3,200. The psf figure and the dollar figure can diverge when the size mix shifts. More large units leasing out can lift the dollar median and pull the psf median down.

Set against the resale median for the window, our engine measures a gross yield of about 4.1%. That is computed from recorded transactions on both sides, resale caveats and rental approvals. It is an indicative figure, not a valuation of any unit here.

The project prices above its district, but sits mid-pack among its closest neighbours

Over the same four quarters, District 18 recorded a resale median of S$1,453 psf from 1,023 sales. The Alps Residences sits +4.1% against that. The district figure covers a wide spread of ages, tenures and locations, so the gap reflects mix as much as anything else.

Within a kilometre, the ranking changes. The Tapestry, 148 m away, logged 43 resales at a median of S$1,737 psf, the highest on the list. Q Bay Residences recorded 24 resales at S$1,522 psf, and The Santorini 30 resales at S$1,502 psf. Waterview, at 837 m, came in at S$1,499 psf on 26 sales.

Below that cluster sit Arc At Tampines at S$1,407 psf, The Tropica at S$1,321 psf on 8 sales, and Pinevale at S$1,167 psf on 3. All seven neighbours are 99-year leasehold. The two lowest medians rest on very small counts, so treat them as thin reads rather than firm levels.

The biggest price in the window came in below the project's own median psf

The largest recorded resale was S$2,488,000 in 1Q2026. It was a 1,668 sqft unit on the 11-15 storey range, which works out to S$1,491 psf in the caveat. That is under the project median for the four quarters. Large-format units often price that way, because the quantum does the heavy lifting.

Compare it with the fourth entry on the same list. A 1,087 sqft unit on the 11-15 storey range sold for S$1,850,000 in 2Q2026, at S$1,702 psf. That is the strongest per square foot figure in the top five, on a much smaller cheque. Two 1,410 sqft units also appear, at S$2,230,000 (S$1,581 psf) in 1Q2026 and S$2,188,888 (S$1,552 psf) in 4Q2025.

So the top of the price table and the top of the psf table are not the same transactions. The table below lists the five highest prices recorded over the window.

Our estimate has been tested against 37 later sales at this project

We also check our own numbers here. As of 4Q2025, our estimate for The Alps Residences was tested against 37 later sales at the project. The median error came to 2.7%. Within the stated range, 30% of those sales landed.

Those two figures say different things. The first measures how close the central estimate sat to the recorded price. The second measures how often the range captured it. A low median error with a low hit rate points to a range that is narrow relative to how much individual units vary. Floor level, stack and unit size all move a price within the same project, as the top sales table shows.

Several things stay open. The 70 to 89 sqm, 90 to 119 sqm and 120 sqm and above bands each rest on five sales or fewer. The 2Q2026 median sits on 11 caveats. Those counts are too thin to separate a price move from a change in mix. On the rental side, contracts have risen for three straight quarters while the psf median has eased each time. Whether the next quarter's data extends both lines, or splits them, is the thing to watch.

One median rarely settles a question on its own. It is a midpoint of a handful of transactions, shaped by which stacks and which sizes happened to change hands. The value sits in reading it next to the quarters before it, the sizes behind it, the rents alongside it, and the projects down the road. Read that way, the figures here describe a project trading in a narrow band, slightly above its district, with a rental book that is getting busier.

Method: URA resale caveats at the project (developer sales and sub-sales excluded) by the quarter of the sale month. Size bands by caveated floor area. Rents are URA rental contracts at the project, and the gross yield is the mean of the quarterly median rents per square foot, annualised, over the four-quarter resale median per square foot, before any cost. Lease left is the tenure less the years since the lease started, as recorded. The estimate accuracy is this site's backtest: the engine run as of the quarter named, compared with the sales since. Private figures are from URA Data Service caveats, HDB figures from data.gov.sg resale records, both loaded weekly by this site's ingest. Medians are of the non-excluded transactions in the period named. Sales flagged by the hygiene rules (related-party transfers, bulk deals, outliers) are left out. Every figure is indicative and drawn from recorded transactions, not a formal valuation.