News > Would the Launch of Penrith Affect Your Property Price? An Analysis into the Impact of New Launches on Nearby Resale Prices

Would the Launch of Penrith Affect Your Property Price? An Analysis into the Impact of New Launches on Nearby Resale Prices

22 October 2025

When you see a new condominium project being built right next door, have you ever wondered what it means for the value of your existing home? Is a new launch a tide that lifts all boats in the vicinity, or does it draw attention and buyers away, cooling the resale market?

Image: Penrith scaled model in the Penrith showflat. Source: Stacked Homes

With the recent launch of Penrith in the Rest of Central Region (RCR) on 18 October 2025, these questions are once again front and centre for property owners in District 03. To find out, we turn to history to see how a previous major launch in the same district, Queens Peak, influenced the immediate resale market within the vicinity.

Upcoming Launch: Penrith (District 3)

Penrith is one of the most anticipated launches in Queenstown, marking the first new condominium to hit the market in the area in several years. As of October 15, sources indicate that the developers of Penrith on Margaret Drive have already collected 1,905 cheques as expressions of interest — an oversubscription of 4.1 times for the project’s 462 units, reflecting exceptionally strong buyer demand and confidence in the development.

Image: Key information about Penrith condominium. Source: RealInsight

The launch of a brand-new project with modern facilities, premium finishes, and a new 99-year lease is naturally expected to set a new benchmark price for the immediate area. The question is: will this benefit nearby older, resale condominiums?

How Had Past New Launches in D03 Affected Nearby Resale Prices?

Image: Penrith artist impression, poolside.

To understand the potential ripple effect of Penrith, we examine the launch of Queens Peak in Queenstown (also D03, next to Queenstown MRT), which launched nearly a decade ago.

Case Study: Queens Peak Condo (Launched November 2016)

When launched in November 2016, Queens Peak was a highly anticipated project in the Queenstown area. It achieved impressive sales momentum, with 253 units sold in its first month at a median launch price of $1,630 psf.

To assess its market impact, we examine resale price movements and transaction volumes of condominiums within a 1km radius before and after its launch.

1. Examine the Resale Price Growth Before and After the Launch of Queens Peak

We look at the median Price per Square Foot (PSF) for all resale condominiums within 1km radius near Queens Peak to see the price movement in the months leading up to and following the launch in November 2016.

Source: RealInsight

Analysis of Price Growth:

Before the Launch (Jan 2015 – Oct 2016): Prices were on a modest upward trend, increasing by 5.83% leading up to the launch.
At Launch (Nov 2016): No resale transactions were recorded within the immediate vicinity, likely as market attention shifted toward the new development.
Immediately After (Dec 2016): There was a temporary dip of 4%, reflecting the short-term diversion of buyers to the new launch.
Longer-Term Impact (Jan – Dec 2017): Prices rebounded strongly, growing by 11%.

2. Examine the Resale Volume Before and After the Launch of Queens Peak

Analysis of Transaction Volume:

At Launch: No resale transactions were recorded within 1km of Queens Peak in November 2016. This suggests that resale activity momentarily paused as buyer focus turned to the new project.
Post-Launch Period: Volumes gradually recovered in the months that followed, in tandem with rising resale prices.

Conclusion: Will the Launch of Penrith Affect Your Property Price?

Image: Penrith artist impression, gym, pool & garden.

Historical trends in District 3 — particularly during the launch of Queens Peak — suggest that new developments tend to bring a positive long-term uplift to nearby resale property prices. While short-term dips in median resale prices and a brief slowdown in transaction volume can occur as market attention shifts to the new launch, these effects are typically temporary. Over time, such major projects often act as market catalysts, raising visibility, price benchmarks, and overall demand for the surrounding area.

For owners of existing condominiums near Penrith, this indicates that the upcoming launch should be viewed not as competition, but as a potential catalyst for capital growth in the years ahead. That said, it’s important to note that property prices are influenced by multiple broader factors beyond new launches — including economic conditions, interest rates, buyer sentiment, and government policy changes. These factors can either amplify or moderate the price effects observed in past trends.

*Data is accurate as of the published date of this article.

*Disclaimer: Our real-time database is updated every time a transaction is submitted by an agency. While we strive to maintain the accuracy and completeness of the data, please note that transactions may not always be completed, and information provided may be subject to change or error. Please refer to RealAgent App or RealInsight for the most updated transaction data.

All analytical and visually interpreted data in this report is powered by RealInsight, a powerful tool for property developers, investors and institutions. It offers a complete solution for development planning or portfolio building by providing access to real-time data regarding properties, developers, land sales and data analytics tool for market research and reports. Find out more about RealInsight here.

To know more about our data-driven real estate solutions, contact us here.

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