A 2-bedroom at Thomson Reserve from $1.544M: the gap over resale now and at earlier launches, and how 2-bedroom buyers nearby have done

New homes usually cost more than older homes nearby. This note asks how much more a 2-bedroom at Thomson Reserve would cost than the homes resold around it, and sets that against the earlier launches near here: how far their 2-bedrooms were priced above resale, how many local buyers had paid that much, and how the people who bought them did when they sold.

The gap over resale in this note is how much more, in percent, a launch's 2-bedroom cost per square foot than homes resold nearby in the same year. 2-bedroom means a home recorded with 2 bedrooms; some include a study. Beat the market means the owners' price rose faster each year than URA's index of private non-landed homes over the same years; trailed the market means it rose more slowly or fell.

More on this: the same questions for the 3-bedroom · the same questions for the 4-bedroom

What is in this note

• The short answer
• Today: the 2-bedroom against resale nearby
• At earlier launches: the 2-bedroom gap and price
• How 2-bedroom buyers at those launches did
• Did the gap or the price matter?
• Three cases for a 2-bedroom owner
• What the numbers cannot weigh

The short answer

• Today. The cheapest 2-bedroom, $1.544M for 592 sq ft, is $2,608 psf: 11.9% above what homes at four nearby condos resell for, once floor areas are measured the same way. If Thomson Reserve's average price lands at $3,000 psf, the gap would be 28.7%; at $3,300, 41.5%.
• At earlier launches. At the 8 launches nearby with 2-bedroom sales and at least two nearby condos to compare with, 2-bedrooms were priced from 24.1% to 56.2% above resale. The middle was 38.6%. Thomson Reserve's cheapest 2-bedroom is priced closer to resale than any of them. At an average of $3,000 psf, its gap of 28.7% would still be below the middle; at $3,300 psf, its gap of 41.5% would be just above it.
• The total price. 80.5% of the homes resold within 2.5 km in the past year sold for $1.544M or more. At earlier 2-bedroom launches here, that share ranged from 23.7% to 96.4% in the launch year.
• What mattered. For how 2-bedroom buyers did against the market, the total price mattered more than the gap. Launches whose 2-bedrooms cost less than most of the homes resold nearby tended to do better against the market. Launches priced further above resale also tended to do worse, but the link was weaker.
• How 2-bedroom buyers did. Buyers who later sold beat the market at 4 of 10 launches, matched it at 1 and trailed it at 5. At 7 of the 10, every one of them sold at a profit.
• Three cases. Among 2-bedrooms near here resold 4 to 6 years after being bought, the middle rose 4.36% a year. For a first-home buyer with a loan, that middle case would gain about 44% of the cash they put in after 5 years. In the low case the price still rises 6.1%, but the costs of buying, borrowing and selling are more than that, and the buyer loses about 6% of the cash.

More on this: renting out a 2-bedroom here · what a 2-bedroom here could make, living in it or renting it out

Today: the 2-bedroom against resale nearby

Thomson Reserve has four 2-bedroom types. The developers have announced the starting price of the smallest; the others are shown at three possible average prices, $2,700, $3,000 and $3,300 psf, the range buyers discussed before the developers announced prices. The most common, the 2-Bedroom Premium, is bigger than the cheapest.

2-bedroom type	Size	$2,700 psf	$3,000 psf	$3,300 psf
2-Bedroomfrom $1.544M ($2,608 psf)	592 sq ft	$1.60M	$1.78M	$1.95M
2-Bedroom Premium	678 sq ft	$1.83M	$2.03M	$2.24M
2-Bedroom Premium + Study	732 sq ft	$1.98M	$2.20M	$2.42M
2-Bedroom Premium + Study	775 sq ft	$2.09M	$2.33M	$2.56M

In price per square foot

Homes resold in the past year at the four condos this series compares with Thomson Reserve (Thomson Three, Thomson Impressions, Thomson Grand and Jadescape) went for a median of $2,199.5 psf, or $2,331 once their floor areas are measured under the newer rules Thomson Reserve follows. Homes in developments that applied for planning approval from June 2023 have a smaller stated floor area for the same space, mainly because air-conditioner ledges are left out, so their price per square foot is higher. This note raises older homes' psf by 6% to compare like with like. Against that, the cheapest 2-bedroom at $2,608 psf is 11.9% higher. If the average lands at $2,700 psf the gap is 15.8%; at $3,000, 28.7%; at $3,300, 41.5%.

In total price

When you sell, the total price limits who can afford to buy from you. Of the 369 homes resold within 2.5 km of Thomson Reserve in the past year, 80.5% sold for $1.544M or more. At $3,000 psf the smallest 2-bedroom would cost $1.78M, which 62.9% of those resales reached; at $3,300 psf, $1.95M, 50.4%.

Against the most similar homes

The closest like-for-like resales are Jadescape's 2-bedrooms of about the same size. In the past year, 5 of them, at about 646 sq ft, resold for a median of $1.48M, or $2,284 psf. Measured under the newer floor-area rules, that is about $2,421 psf, so Thomson Reserve's cheapest 2-bedroom, at $2,608, is 7.7% more per square foot, for a smaller home at a higher price. Five sales is a small sample, so this comparison is less certain.

	Thomson Reserve, cheapest 2-bedroom	Jadescape, similar-size 2-bedroom resales
Price	$1.544M	$1.48M (median of 5)
Size	592 sq ft	646 sq ft
Psf, newer floor-area rules	$2,608	$2,421
Lease left	99 years	about 91 years
Completion	2031	2022

Jadescape has about 91 years of lease left; Thomson Reserve will have 99. By the Singapore Land Authority's table of leasehold values, 99 years left is worth about 1% more than 91, so at these ages the lease makes little difference to this comparison.

At earlier launches: the 2-bedroom gap and price

The same two measures, at the earlier launches near here, in the first year each launch sold at least 20 new homes. The resale side is the homes resold that year at condos within 1.2 km of each launch that were completed in the 15 years before it.

Launch	2-bed psf	Above resale	2-bed price	Resales at/above
The Gardens at Bishan2000	$660	56.2%	$0.59M	77.4%
Bishan Point*2002	$497	17.4%	$0.47M	91.4%
Clover by the Park‡2008	–	–	–	–
Centro Residences*2009	$1,170	71.5%	$0.95M	34.5%
Thomson Grand2011	$1,389	56.2%	$1.36M	23.7%
Sky Habitat2012	$1,583	45.8%	$1.42M	34.4%
Thomson Three2013	$1,380	27.9%	$1.01M	96.4%
Sky Vue2013	$1,373	26.3%	$1.05M	90.0%
Thomson Impressions2015	$1,411	38.4%	$1.07M	89.4%
Jadescape2018	$1,680	38.8%	$1.25M	72.7%
AMO Residence2022	$2,129	24.1%	$1.51M	57.6%
Thomson Reserve, cheapest2026	$2,608	11.9%	$1.54M	80.5%

Among the 10 launches with 2-bedroom sales, the 2-bedroom gap is within 5 percentage points of the gap for each launch's homes of every size, except at The Gardens at Bishan and Thomson Grand, where 2-bedrooms were priced further above resale than their homes overall.

More on this: how launch buyers near here did, homes of every size

How 2-bedroom buyers at those launches did

These are the people who bought a 2-bedroom from the developer at each launch and later sold it: their typical yearly price change, and how that compared with the market over the same years. Clover by the Park sold no 2-bedrooms in its launch year and is not shown.

Launch	Owners who sold	Yearly change	Vs market
The Gardens at Bishan2000	161100% at a profit	5.40%	+1.1 pts
Bishan Point2002	22100% at a profit	5.33%	+1.3 pts
Centro Residences2009	6594% at a profit	2.63%	−0.7 pts
Thomson Grand2011	4683% at a profit	0.76%	−0.7 pts
Sky Habitat2012	3879% at a profit	1.22%	−1.3 pts
Thomson Three2013	55100% at a profit	2.81%	+0.9 pts
Sky Vue2013	135100% at a profit	3.13%	+1.5 pts
Thomson Impressions2015	28100% at a profit	3.70%	−0.4 pts
Jadescape2018	147100% at a profit	5.06%	−1.2 pts
AMO Residence2022	7100% at a profit	4.10%	0.0 pts

2-bedroom buyers beat the market at 4 of these 10 launches and trailed it at 5; at AMO Residence, a small group of 7 owners, they matched it. Trailing the market does not mean losing money. At Jadescape, every 2-bedroom owner who sold made a profit, at a typical 5.06% a year, but the market rose faster over the same years.

Did the gap or the price matter?

Each dot is one earlier launch. Higher up means its 2-bedroom buyers' homes rose faster than the market over the same years; lower down, more slowly. Hollow dots are less certain: Bishan Point and Centro Residences are compared with only one nearby condo.

The gap over resale

1. 1The Gardens at Bishan
2. 2Bishan Point
3. 3Centro Residences
4. 4Thomson Grand
5. 5Sky Habitat
6. 6Thomson Three
7. 7Sky Vue
8. 8Thomson Impressions
9. 9Jadescape
10. 10AMO Residence

The gap showed a weak link. Launches priced further above resale tended to do worse against the market, with exceptions. The Gardens at Bishan and Thomson Grand were both priced 56.2% above resale; The Gardens at Bishan beat the market and Thomson Grand trailed it. Thomson Reserve's cheapest 2-bedroom, at 11.9%, is priced closer to resale than any of them.

The total price

1. 1The Gardens at Bishan
2. 2Bishan Point
3. 3Centro Residences
4. 4Thomson Grand
5. 5Sky Habitat
6. 6Thomson Three
7. 7Sky Vue
8. 8Thomson Impressions
9. 9Jadescape
10. 10AMO Residence

The total price showed a clearer link. The three launches where fewer than 35% of nearby resales cost as much as the 2-bedroom, Thomson Grand, Sky Habitat and Centro Residences, all trailed the market. Of the five launches where more than 75% did, four beat it. The three that trailed also launched close together, from 2009 to 2012, and Thomson Three and Sky Vue, launched a year later, beat the market, so the launch year may explain part of the pattern. Ten launches are too few to tell the two apart. Buyers at resale also come from landed homes, HDB flats and other districts, which these shares do not count. For 4-bedrooms near here, the same comparison found no such link.

More on this: the same comparison for the 4-bedroom

Three cases for a 2-bedroom owner

These cases come from homes within 2.5 km of Thomson Reserve that were bought from 2000 to 2020 and resold 4 to 6 years later. Taking only the 2-bedrooms gives 317 owners at 19 condos. 1 in 10 of them saw prices rise 1.19% a year or less, the middle owner saw 4.36% a year, and 1 in 10 saw 7.44% a year or more.

Applied to the cheapest 2-bedroom, for a Singapore citizen buying a first home who borrows 75% of the price over 25 years at 2% a year and sells after 5 years:

Case	Price after 5 years	Gain or loss after all costs	On the cash put in
Low1.19% a year	6.1%	−$31,000	−5.7%
Middle4.36% a year	23.8%	$237,000	44.1%
High7.44% a year	43.1%	$529,000	98.7%

The price would need to rise 8.1%, or 1.57% a year, to break even. 85% of those 2-bedroom owners saw at least that; 5% sold for less than they paid. In the low case the price still rises, by 6.1%, but not by enough to cover the costs. For homes of every size near here, the same three cases are 0.23%, 4.18% and 9.50% a year. For 2-bedrooms, the middle case was a little higher and the low and high cases were closer together.

More on this: the costs of buying and selling here, for every kind of buyer

What the numbers cannot weigh

Some things a buyer weighs cannot be priced from sales records. These are the facts for Thomson Reserve and the four condos its resale comparison uses. Distances are straight-line.

Condo	Completed	MRT exit	Primary school	Raffles Place
Thomson Reserve	2031 (expected)	190 mUpper Thomson	490 mAi Tong	8.5 km
Thomson Three	2016	230 mUpper Thomson	450 mAi Tong	8.5 km
Thomson Impressions	2018	350 mBright Hill	340 mAi Tong	8.8 km
Thomson Grand	2015	380 mBright Hill	680 mAi Tong	9.4 km
Jadescape	2022	370 mMarymount	690 mCatholic High (Primary)	7.8 km

What this tells you

Thomson Reserve's cheapest 2-bedroom is priced 11.9% above resale nearby, closer to resale than any earlier 2-bedroom launch here, at a total price that 80.5% of local resales reached. Most of its 2-bedrooms are bigger than the cheapest; if Thomson Reserve's average price lands near $3,000 psf, the gap would be 28.7%, still below the middle gap of the earlier launches, 38.6%. At earlier launches, the total price mattered more than the gap over resale for how 2-bedroom buyers did against the market. 2-bedroom owners' yearly price changes were closer together than for homes of every size nearby, but in the low case a buyer with a loan would still lose money even though the price rose.

What this does not tell you

• The average 2-bedroom price. Only the cheapest has been announced. This note will be updated with the actual launch prices once sales are recorded.
• The price of a particular unit. Floor, facing and stack change it.
• Whether prices will rise. Every figure here is from past markets. The three cases are not a forecast.
• Your costs. The three cases assume a Singapore citizen's first home and a 75% loan at 2% a year. Your stamp duty, loan and holding period may differ.

Method and data notes

Sales. URA caveat records of condominium and apartment sales held by Realila, single-unit sales only, collective sales excluded, to 11 October 2026. A 2-bedroom is a sale whose unit is recorded with 2 bedrooms.

Launches and the gap. The launches and their resale comparison are the same as for launch buyers of every size in this series: each launch's first year with at least 20 new sales, and homes resold that year at condos within 1.2 km, completed in the 15 years before. The 2-bedroom psf is the median 2-bedroom new sale that year; launches with fewer than 5 are shown, flagged, and left out of the ranges. Bishan Point and Centro Residences, each compared with only one nearby condo, are left out of the ranges. The resale side counts homes of every size, as for the 4-bedroom and 3-bedroom, so each launch is compared with the same resale homes whatever the size of the new home; 2-bedroom resales alone number 0 to 25 per launch.

Today. Thomson Reserve's 2-bedroom starting price as EdgeProp reported it on 15 October 2026. The resale benchmark and the 6% floor-area allowance are the same as for Thomson Reserve's price levels in this series. Jadescape's similar homes are 2-bedrooms within 10% of 592 sq ft resold in the past year.

Total price. The share of all homes resold within 2.5 km of Thomson Reserve in the year whose price was at least the 2-bedroom price.

Owners who sold. People who bought a 2-bedroom from the developer and whose unit next sold, with the market comparison against URA's private non-landed price index over each sale's own quarters, as for launch buyers of every size in this series. Holds under a year count in the totals but not in the yearly change. A result that rounds to 0.0 percentage points is shown as level with the market.

Three cases. Homes within 2.5 km of Thomson Reserve, condominiums and apartments, single-unit sales, matched on the same unit and kept to 2-bedrooms: bought 2000 to 2020, sold again 4 to 6 years later. The 10th, 50th and 90th percentiles of their yearly change, applied for 5 years with the same costs and loan as the worked example in this series' note on the costs of buying and selling.

Places. Straight-line distance from each condo's point to the nearest MRT exit (LTA), primary school (MOE) and Raffles Place MRT exit. Lease left is shown, not adjusted for; the comparison of 99 and 91 years uses SLA's leasehold table (Bala's table). In tables, totals are rounded to $0.01M, distances to 10 m under 1 km and percentages to one decimal place.

More on this: Thomson Reserve's price levels and the resale benchmark

Corrections

19 October 2026. This note said its comparison condos were "the four condos nearest Thomson Reserve". They are not the four nearest; they are the four condos this series compares with Thomson Reserve. It now says "the four condos this series compares with Thomson Reserve".