Penrith

This is a two-bedroom unit of 614 sqft at Penrith, 70 Margaret Drive, in District 3, in the Queenstown and Alexandra area. It is a 99-year leasehold development completing Q2 2031. The price is $1,853,000, which works out at $3,018 per square foot.

This page is maintained by the Finest SRI team. This listing has a high rate and two long timelines attached to it, so we will deal with those before anything else.

What you are paying, and what for

Across the 32 condominium listings on our books that publish both a price and a floor area, the middle rate is about $2,780 per square foot. This unit is at $3,018 — about 8.6 per cent above that figure, which puts it in the upper quarter of our list.

What that buys is location. Margaret Drive sits in Queenstown, one of the most established estates on the city fringe, minutes from Alexandra, Redhill, one-north and the Singapore General Hospital campus, and a short run from the CBD. Compact units in this pocket of District 3 have historically carried rates well above the outer-region average, and this one is consistent with that.

Small units also tend to carry a higher rate per foot than large ones in the same building, because the kitchen, bathroom and services cost roughly the same whatever the floor area. At 614 square feet, some of this rate is that effect rather than the address.

Two things to be clear-eyed about

The wait. Completion is expected Q2 2031, which is close to five years away. That is a long progressive payment schedule and a long time before you have a home or a tenant.

The walk. Queenstown station on the East-West Line is about twelve minutes on foot, which is among the longer walks on our books. Walk the route yourself before you decide; twelve minutes with shopping in the rain is a different twelve minutes.

The unit at a glance

• Address: 70 Margaret Drive, Singapore 149926 (District 3)
• Size: 614 sqft
• Layout: 2 bedrooms, 1 bathroom
• Price: $1,853,000 — $3,018 per square foot
• Tenure: 99-year leasehold
• Expected TOP: Q2 2031
• Furnishing: partially furnished
• Nearest MRT: Queenstown, East-West Line, about 12 minutes on foot

The location argument, stated plainly

Queenstown is one of Singapore's oldest housing estates and has aged well. Alexandra Central, Anchorpoint and IKEA Alexandra are close, the Alexandra and Tanglin employment belt is next door, one-north and the biomedical cluster are a short ride, and the Southern Ridges and Alexandra Canal linear park are on the doorstep. The AYE and Farrer Road connections handle driving.

The honest caveat, beyond the twelve-minute walk and the 2031 date, is size. 614 square feet with a single bathroom is a compact home. It suits one or two people; it does not suit a family.

Who this unit tends to suit

• Buyers who specifically want District 3 and are comfortable paying a city-fringe rate for a compact unit.
• People working in Alexandra, one-north, the SGH campus or the CBD.
• Buyers with a long horizon who are not in a hurry for a home.

Who should probably look elsewhere

• If rate per square foot is your main test. This is in the upper quarter of our list. The Hillshore is freehold in District 5 at about $2,400 to $2,650.
• If a short walk to rail matters. Twelve minutes each way is a real daily commitment. 8@BT is two minutes from Beauty World.
• If you need a home before 2031. Grand Dunman completes Q4 2026.
• If you need more than one bathroom. This unit has one.

Frequently asked questions

Where is Penrith?
70 Margaret Drive, Singapore 149926, in District 3, in the Queenstown area.

How big is the unit?
614 sqft, with two bedrooms and one bathroom.

What is the price and the rate?
$1,853,000, which is $3,018 per square foot.

How does that compare?
About 8.6 per cent above the middle rate across the condominium listings on our books.

When does it complete?
Q2 2031.

How far is the MRT?
Queenstown station on the East-West Line is about twelve minutes on foot.

Can I see the floor plan?
Ask us and we will send the current floor plan and stack availability.

Before you decide

Run the numbers before you view. Condo buying costs in Singapore covers stamp duty, loan limits and the progressive payment schedule, which matters a great deal on a 2031 completion. Condo unit mix explained covers why bedroom labels are not sizes. How the maintenance fee is calculated explains what you pay monthly. For the wider picture, condo prices by district and psf.

Speak to our team

Price, size and completion date come from the developer, are indicative, and can change without notice. Availability moves daily, so ask us for the current chart before you decide on a stack. Finest SRI is part of SRI Pte Ltd, agency licence L3010738A. Every enquiry is handled by a CEA-registered salesperson.