Back in October 2017, Queens Peak was the very first project we reviewed on PropertyNet.SG. At the time, it was a part-sold new launch and our verdict was that its S$1,500 to S$1,600 PSF pricing looked attractive against the land costs being paid nearby. Nearly nine years on, the development has TOP-ed, matured into an established resale estate, and given us something rare in property commentary: a chance to mark our own homework.
So in this 2026 update, we revisit Queens Peak with actual resale and rental data, score it against the PropertyNet Insider Benchmark, and look back honestly at how our original launch call played out.
Queens Peak at a Glance
| Project | Queens Peak |
|---|---|
| Address | 1 & 3 Dundee Road, District 3 (Queenstown) |
| Tenure | 99-year leasehold from 2015 (approx. 88 years remaining) |
| Developer | HY Realty (Dundee) Pte Ltd, with MCC Land as project manager |
| Completion | TOP obtained in 2020 |
| Scale | 736 units across two 44-storey towers, plus a childcare centre |
| MRT | Directly linked to Queenstown MRT (EW19) via sheltered bridge |
| Resale pricing | Approx. S$2,238 PSF average over the past 12 months (transactions between roughly S$2,022 and S$2,405 PSF) |
| Gross rental yield | Approx. 3.9% to 4% |
PropertyNet Insider Benchmark Score
- Resale transactions over the past 12 months averaged around S$2,238 PSF, with a project record of about S$2,405 PSF set in January 2026. That puts Queens Peak essentially at parity with Commonwealth Towers, which averaged around S$2,267 PSF over the same period.
- Owners who bought at launch in the S$1,500 to S$1,600 PSF range are sitting on capital appreciation of roughly 40%. The flip side for new buyers: that first wave of easy upside has already been captured.
- Queens Peak trades at a discount to city-fringe new launch pricing, though part of that gap simply reflects its age and shorter balance lease of around 88 years rather than mispricing. The discount is fair value, not a bargain.
- Entry quantum remains accessible for District 3, with 1 bedroom units still listed at or just under the S$1 million mark.
- The sheltered bridge into Queenstown MRT is the headline feature, and it has aged beautifully. Residents reach Raffles Place in roughly 15 minutes without touching an umbrella.
- The unit mix runs the full spectrum, from 1+1 bedroom units through to 5 bedroom apartments and penthouses, with a childcare centre on the first storey. Few projects serve singles, investors and multi-generational families under one roof this well.
- The buyer profile is telling: roughly 81% Singaporean, which signals genuine own-stay demand rather than a purely speculative base.
- Our 2017 critiques still apply on resale viewings: common bedrooms are compact, and some layouts carry foyers or elongated balconies that eat into usable space. Budget for these when comparing stacks.
- The employment catchment is exceptional: one-north, Mapletree Business City, the Singapore General Hospital campus and the CBD are all a short train ride away, feeding a constant stream of tenants and upgrader buyers.
- The Greater Southern Waterfront transformation sits on the doorstep of District 3 and should progressively lift the whole precinct over the coming decade.
- Rental demand is demonstrably deep: around 100 rental contracts were signed at Queens Peak in just six months, supporting gross yields of roughly 3.9% to 4%, ahead of what we projected back in 2017.
- The main long-term watch point is lease decay. At 88 years remaining this is not a near-term concern, but buyers with a 20-year horizon should factor it into exit planning.
- Liquidity is average rather than strong. Roughly 16 resale transactions over the past 12 months works out to about 2% turnover on a 736-unit estate. Prices are trending up, capped by the fresh PSF record in January 2026, but do not expect a quick sale at an ambitious asking price.
- The competitive set on exit is the biggest drag on this score. Commonwealth Towers (845 units), Stirling Residences (1,259 newer units, completed 2022), Margaret Ville and Queens all fight for the same MRT-linked buyer within walking distance. When your buyer has four near-identical alternatives, your pricing power is capped.
- The natural buyer pool is at least broad: HDB upgraders from Queenstown, Dawson and Tanglin Halt, plus investors priced out of new launches but still wanting city-fringe stock near the MRT.
- Smaller units turn over fastest thanks to the rental story; larger units trade less frequently but face thinner direct competition from the neighbouring projects.
How Our 2017 Launch Call Played Out
When we first reviewed Queens Peak, our core argument was simple: at S$1,500 to S$1,600 PSF, the project was competitively priced against Commonwealth Towers, and the S$1,050 PSF PPR land bid at nearby Stirling Road meant future launches in the area could not come cheap. That reasoning held up. The Stirling Road site went on to launch at meaningfully higher prices, and Queens Peak resale values have since climbed to an average of around S$2,238 PSF.
Our rental projection proved conservative. We estimated a gross yield of 3.3% to 3.7% by benchmarking against Queens and Alexis; the actual figure today sits closer to 3.9% to 4%, helped by rental demand from the one-north and CBD workforce that has only strengthened since.
What we got right qualitatively also still matters. The wall-to-wall bedroom windows remain a genuine selling point against Commonwealth Towers, and the wise unit mix distribution, with larger own-stay units placed above level 27 and smaller investment units below level 26, has kept the resident experience harmonious. Equally, the small common rooms we criticised have not gone away, and they remain the most common objection we hear from families viewing resale units today.
Who Queens Peak Suits in 2026
For own-stay buyers, Queens Peak makes the most sense if doorstep MRT access is your top priority and you are willing to trade bedroom size for location. Couples and small families will find the 2 and 3 bedroom stacks with unblocked facings the sweet spot. For investors, the numbers speak plainly: near 4% gross yield, a deep tenant pool and proven liquidity, though the days of launch-era capital gains are behind us, so treat this as a steady performer rather than a moonshot.
If you are weighing Queens Peak against Commonwealth Towers, Stirling Residences or a new launch elsewhere in District 3, the right answer depends heavily on your budget, holding period and exit plan. Reach out to PropertyNet.SG for personal property insights tailored to your situation before you commit.
Figures are based on publicly available transaction data as at July 2026 and are rounded for readability. Past performance is not a guarantee of future results. This review reflects our independent opinion and should not be taken as financial advice.
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