Existing condo
Mendon Spring
Pasir Panjang Road · Queenstown · District 5
: Freehold · Completed 2002 (EdgeProp) · 48 homes
- Recent sales, median
- S$1,393
- 5 sales in 24 months
- Sales in 12 months
- 2
PropGPT has not researched this condo the way it researches new launches: the figures here come from URA's sale and rental records, public map data and, for asking prices, EdgeProp. Visit, check the unit and the building, and ask for the management corporation's accounts before you offer.
Is it worth buying?
PropGPT financial score
95out of 100
Strong case on the numbers
Confidence: high, most figures known (78% of the weight known)
Adds up the measurable lines below: price against comparable homes, rental yield, the lease, how nearby prices moved, MRT distance and competing supply. 65 or more is a strong case on the numbers, 45 to 64 fair, under 45 weak. It leaves out what only you can judge (layout, school, the view) and is not a valuation or advice.
What makes up the scoreHide what makes up the score
| Part | Mark | Why |
|---|---|---|
| Price vs similar homes nearby29% of the scoreCosts 20% less than similar homes nearby; usually 3% less. | 100 | Costs 20% less than similar homes nearby; usually 3% less. |
| Rental yield vs typical21% of the scoreRent of about 4.8% of the price a year; typical is 3.2%. | 100 | Rent of about 4.8% of the price a year; typical is 3.2%. |
| Price vs other condos in the town14% of the score15% below the typical price of other condos in the town. | 100 | 15% below the typical price of other condos in the town. |
| Value lost to the lease in the next 10 years14% of the scoreFreehold or 999-year: no lease running down. | 100 | Freehold or 999-year: no lease running down. |
| Nearby homes that beat the marketnot countedNot known yet. | Not known | Not known yet. |
| This condo's own prices vs the marketnot countedNot known yet. | Not known | Not known yet. |
| Distance to the MRT14% of the score559 m to the nearest station. | 71 | 559 m to the nearest station. |
| Competing homes finishing nearby7% of the score343 competing homes finishing nearby around the same time. | 83 | 343 competing homes finishing nearby around the same time. |
What a property agent would weigh up, from public data. Each line gives a plain answer and what it means for you. Open “Show the calculation” on any line for the exact figures.
PropGPT compares private condos and apartments only (ECs with ECs). HDB flats and landed homes are never in these comparisons, and every price is a real sale recorded by URA, not an asking price.
In your favour 4Neutral 2Watch out 0Not known yet 2
Am I paying a fair price?
Price vs similar resale homes nearby · In your favour
Costs about 20% less than similar homes nearby
Condos usually sell for about 3% less than similar homes nearby (the middle figure of 1,294 existing condos PropGPT checked). This one is cheaper than usual for the area.
- This condo
- S$1,393 psf
- Usual for a condo here
- S$1,698 psf
- Similar homes nearby
- S$1,743 psf
Based on 48 resales, Nov 2025 to Nov 2026 · a rough guide only
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What it compares
Each of this condo's own resales (its own 5 resales in the last 24 months) against resale condos and apartments within 1.5 km of a similar size (within 20%), sold Nov 2025 to Nov 2026. Each resale price is scaled to this condo's lease, and to its building age (completed 2002) where the resale's completion year is known. Not included: HDB flats, landed homes, homes resold before completion (sub-sales), and this condo itself.The figures
- This condo: S$1,393 psf, the median of its own 5 resales in the last 24 months.
- Nearby resale: 5 of its 5 own sales are each compared with the median of nearby sales within 20% of its size, after the lease adjustment (48 nearby sales in all). The gap is the median of these per-sale gaps; S$1,743 psf is the nearby price that gap implies.
- Lease adjustment, for example: a freehold resale at S$2,000 psf counts as about S$1,920 against a new 99-year lease (96% of freehold); a 99-year resale with 70 years left at S$1,500 psf counts as about S$1,646.
- Age adjustment: 48 of 48 nearby sales are also scaled to this condo's age (completed 2002), about 0.9% per year of difference. For example, a resale in a building 10 years older at S$1,500 psf counts as about S$1,648.
- Gap: S$1,393 psf ÷ S$1,743 psf − 1 = −20%. Usual gap (the middle of 1,294 existing condos): −3%. In your favour when this gap is 5 percentage points or more below the usual gap; watch out when 5 or more above.
How fair is this comparison?
A rough guide only. Existing homes against existing homes, lease and building age adjusted, each sale against homes of its own size; but neighbours differ in condition, size of development and facilities.What this check cannot see
- Building age is adjusted at one average rate, about 0.9% a year (measured from 10,793 private resales in 1,531 condos, Oct 2025 to Oct 2026). Real prices fall faster in a building's first 15 years and slower after, faster for 99-year leases than freehold, and upkeep differs between buildings.
- The lease adjustment uses the SLA leasehold table (Bala's Table), which values land, not the building; on very old leases it may over-adjust.
- Floor level, view and facing are not adjusted. A condo whose recent sales were mostly high floors looks dearer.
- 1.5 km in a straight line can reach across an expressway, river or park into a different market.
- URA gives one map point per project, so large projects are measured from a single spot.
Price vs other existing condos in Queenstown · In your favour
About 15% below the typical price of other existing condos in Queenstown
Cheaper than most of the homes you are likely to compare it with.
- This condo
- S$1,393 psf
- Typical in Queenstown
- S$1,639 psf
Based on 34 condos · a rough guide only
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What it compares
Each of this condo's own resales (its own 5 resales in the last 24 months) against resales in other existing condos in the same town (URA planning area) of a similar size (within 20%), sold in the same period, each scaled to this condo's lease, and to its building age (completed 2002) where the other condo's completion year is known.The figures
- This condo: S$1,393 psf
- 5 of its 5 own sales are each compared with the median of sales of a similar size in 34 other existing condos in Queenstown. The gap is the median of these per-sale gaps; S$1,639 psf is the town price that gap implies.
- Age adjustment: 34 of the 34 other condos are also scaled to this condo's age (completed 2002), about 0.9% per year of difference.
- In your favour when 10% or more below the typical price; watch out when 10% or more above.
How fair is this comparison?
A rough guide only. Same town, lease and building age adjusted, each sale against homes of its own size; but condition and distances to the MRT differ within a town.What this check cannot see
- Building age is adjusted at one average rate, about 0.9% a year (measured from 10,793 private resales in 1,531 condos, Oct 2025 to Oct 2026). Real prices fall faster in a building's first 15 years and slower after, faster for 99-year leases than freehold, and upkeep differs between buildings.
Can it earn or hold its value?
Rental yield · In your favour
About 4.8% of the price a year in rent, before costs
More than the typical 3.2% for existing condos, so rent would cover more of your costs if you let it out.
- This condo
- 4.8%
- Typical for existing condos
- 3.2%
Based on 328 rental contracts, Q1 2026 to Q3 2026
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What it compares
Rents of condos and apartments of similar size within 1.5 km (URA rental contracts, last 4 quarters), per sq ft, × 12, against this condo's price per sq ft.The figures
- Nearby rent: S$5.53 per sq ft a month, median of 328 contracts (URA, Q1 2026 to Q3 2026)
- Yield = S$5.53 × 12 ÷ S$1,393 psf = 4.8%. In your favour when 0.3 percentage points or more above the typical yield; watch out when 0.3 or more below.
How fair is this comparison?
Fair. Rents of similar homes nearby, not of this condo.What this check cannot see
- Gross yield: property tax, maintenance fees, agent fees and empty months usually take 1 to 2 percentage points off.
- URA records rented sizes as ranges (for example 900–1,000 sq ft); PropGPT uses the middle.
- Building age is not adjusted: a 25-year-old condo and a 3-year-old one count the same, so part of any gap is simply new against old.
Lease · In your favour
Freehold
No lease runs down, so the home does not lose value as the years pass. Buyers usually pay more for this.
Based on URA's title record
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What it compares
The title's tenure, as recorded by URA.How fair is this comparison?
Very fair. A fact about this home.What this check cannot see
- Freehold land does not protect the building: it still ages, and an en bloc sale needs most owners to agree.
How nearby homes' prices moved · Not known yet
Not known yet
Fewer than 3 nearby projects have enough sales two or more years apart to compare.
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What it compares
For each project within 1.5 km with enough sales: the median price of its first 12 months of sales in PropGPT's data against its resales in the last 12 months, at least 2 years apart, compared with URA's private non-landed price index over the same quarters.How this condo's prices moved · Not known yet
Not known yet
Fewer than 5 sales early and 5 sales recently, at least 2 years apart.
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What it compares
This condo's median resale price per sq ft in its first 12 months in PropGPT's data (from October 2021) against its last 12 months, compared with URA's private non-landed price index over the same quarters.MRT · Neutral
559 m to Pasir Panjang MRT Station
A walk of several minutes to the station.
Based on LTA station exits and URA Master Plan 2019, worked out 2 Nov 2026
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What it compares
Straight-line distance from the project's map point to the nearest MRT or LRT exit in service (LTA), and to the nearest planned station (URA Master Plan 2019).The figures
- Nearest planned station: River Valley (planned), 6,447 m
- In your favour within 500 m of a station in service or planned; watch out over 1 km from both.
How fair is this comparison?
Very fair. A fact about this location.What this check cannot see
- Straight-line distance: walking routes are longer, often by a third.
- Planned stations can be years away and dates change.
What could go wrong?
Competing homes finishing nearby · Neutral
343 homes in 1 other project within 1.5 km due 2026–2030
Some competing new homes nearby, fewer than 1,000.
Based on URA's list of projects not yet completed, worked out 2 Nov 2026
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What it compares
Homes in other private projects within 1.5 km that URA lists as not yet completed, due in the next few years.The figures
- URA pipeline of private homes not yet completed.
- In your favour when there are none; watch out at 1,000 homes or more.
How fair is this comparison?
Fair. Counts homes, not who will sell or rent them.What this check cannot see
- Completion years in URA's pipeline often shift by a year or more.
- Land sold but not yet in URA's pipeline is not counted.
- 1.5 km in a straight line can reach across an expressway, river or park into a different market.
Cost to buy, hold and sell · Fact
S$46,225 in stamp duty for the estimated price
Profit only starts after these costs are covered.
Based on today's IRAS stamp duty rates
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What it compares
Stamp duties under the current IRAS rates for the price shown.The figures
- Stamp duty on S$1.53M: S$46,225 (assumes a Singapore citizen buying a first home)
- Selling within 4 years of buying costs seller's stamp duty of 16% falling to 4%; buying now, that ends around Nov 2030.
- A completed home: the full loan starts at once, and a buyer's agent fee (often 1%) is usual if you use one.
How fair is this comparison?
Very fair. Worked out for this price.What this check cannot see
- Assumes a Singapore citizen buying a first home until you add your details.
Good to know (not judged)
Sales in the last 12 months · Fact
2 resales
More sales mean a clearer price and an easier sale later. Few sales make every figure here less certain.
Based on URA sales, Nov 2025 to Nov 2026
Completed · Fact
2002
Older buildings need more upkeep; very old ones may be en bloc candidates.
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The figures
- From EdgeProp, checked 2026-10-22.
PropGPT calculations from URA and data.gov.sg, updated 2 Nov 2026. PropGPT is not a licensed estate agency and does not act for buyers or sellers. These figures are not a valuation, a forecast or financial advice, and past results nearby do not predict future returns. How each line is worked out
What it costs
Estimates from what homes here actually sold for. URA records each home's size, not its bedrooms, so the bedroom count is a guess from floor area.
| Size (bedrooms, a guess) | Typical size | Median price | Range | Sales |
|---|---|---|---|---|
| 3-bedroom 1,000–1,399 sq ft | 1,055 sq ft | S$1.53M | S$1.47M to S$1.59M | 2 in 12 months |
Asking prices now
- 3-bedroomS$1.59M S$1,507 psf
A sample of listings on EdgeProp, checked 2026-10-22. Asking prices are what sellers hope for; homes usually sell for less. Listings may have sold since.
See current listings on EdgeProp, 99.co or PropertyGuru.
Stamp duty on S$1,532,500: S$46,225 (assumes a Singapore citizen buying a first home). A completed home: the full loan starts at once.
Recent sales
Every resale and sub-sale recorded by URA, newest first. URA gives floors as a range of five.
| Month | Size | Floor | Price | PSF |
|---|---|---|---|---|
| Jul 2026 | 1,055 sq ft | 01-05 | S$1,470,000 | S$1,393 |
| Apr 2026 | 1,055 sq ft | 01-05 | S$1,595,000 | S$1,512 |
| Jun 2025 | 1,055 sq ft | 01-05 | S$1,490,000 | S$1,412 |
| Dec 2024 | 1,066 sq ft | 01-05 | S$1,350,000 | S$1,266 |
| Dec 2024 | 1,055 sq ft | 01-05 | S$1,350,000 | S$1,280 |
| Nov 2024 | 1,055 sq ft | 01-05 | S$1,350,000 | S$1,280 |
| Oct 2024 | 1,066 sq ft | 01-05 | S$1,300,000 | S$1,220 |
| Feb 2023 | 1,055 sq ft | 01-05 | S$1,288,000 | S$1,221 |
| Dec 2022 | 1,055 sq ft | 01-05 | S$1,278,000 | S$1,211 |
| Nov 2022 | 1,055 sq ft | 01-05 | S$1,288,000 | S$1,221 |
| Sept 2022 | 1,055 sq ft | 01-05 | S$1,278,000 | S$1,211 |
| Sept 2022 | 1,066 sq ft | 01-05 | S$1,288,000 | S$1,208 |
| Mar 2022 | 1,066 sq ft | 01-05 | S$1,260,000 | S$1,182 |
Location
- Nearest mrt station
- Pasir Panjang MRT Station
- 559 m · ~7 min walk
- Nearest park
- Chwee Chian Playground
- 166 m · ~3 min walk
URA gives one map point per condo. Open data from LTA, NParks, MOE and SFA (data.gov.sg). Map: OpenFreeMap, OpenStreetMap contributors.
What next?
Compare Mendon Spring with other condos in Find the best buys. Before you make an offer, view the unit and check the price against the recent sales above.