Zyon Grand vs Penrith – Is it worth considering if I miss Penrith ? 

Introduction

An interesting question that we foresee many investment-minded buyers asking — if I missed out on Penrith, is Zyon Grand worth considering?

Given the overwhelming response for Penrith, there is a high chance that many genuine buyers did not manage to secure a unit. As a natural course of action, many sales agents will now start “swinging” buyers’ attention towards Zyon Grand, the next new launch in sight.

But what others do or propose should be independent of the investment decision we make. In fact, we should put aside the fear of missing out and evaluate our next steps rationally.

The key research question here is simple:

Is Zyon Grand even worth considering, assuming that I had first set my mind on Penrith ?

Scope of the Article

To set the context, we have previously written several research articles evaluating Zyon Grand as a standalone development, which we will share via links below.

However, for this article, the focus is different. Since we are addressing buyers who had initially set their sights on Penrith, our scope will revolve around comparing the merits and demerits of Zyon Grand as an investment asset relative to Penrith.

Quick intro – Decoupling Expertise

Quick introduction, before you decide to commit the next 5 mins reading this article.

We are decoupling expertise, a team of specialist realtors that specialise in helping Singapore property owners derive the best strategy to purchase their second investment property without ABSD.

Aside from decoupling property, we specialise in property research. Helping client that values owning high capital return property, shortlist and identify worthy condo developments to look into

Drop us a text if you like to shortlist prospective properties or confirm your thoughts on a current property

A Tale of Two Budgets – Buyers with Sizeable Budgets Can Afford to Look Beyond Zyon Grand

Getting straight to the point, this is how we see it.

Buyers who were eyeing Penrith generally fall into two broad categories:

• Category 1: Buyers with budgets above $2.4 million (typically 3-bedroom buyers).
  
• Category 2: Buyers with budgets between $1.6 million and $2.2 million (2-bedroom or compact 3-bedroom buyers).
  

If you fall within Category 1, meaning you have a budget above $2.4 million, here’s how we recommend you approach this.

If you plan to fully deploy your budget, you can consider holding back and exploring larger 3-bedroom units in upcoming 2026 new launches such as Thomson Reserve or Hougang Central Integrated Development.

Alternatively, you may look into resale developments with strong investment fundamentals , projects such as Stirling Residences, Jadescape, or Parc Esta provided the valuation is attractive. (That’s a separate discussion in itself.)

The point is, with that level of budget, there is more room to optimise for a sizable 3-bedroom unit type. Jumping the gun on Zyon Grand might not deliver the same value proposition, since its strength primarily lies in the smaller 2-bedroom and compact 3-bedroom segments rather than its larger layouts.

That said, there is still a case for flexibility. You could choose to deploy less than the full $2.4 million, invest in a smaller 2-bedroom unit in Zyon Grand, and reallocate the remaining funds into other asset classes, though, at the time of writing, both the equity and crypto markets are trading near their highs.

If this more balanced approach appeals to you, continue reading. The next section breaks down where Zyon Grand may make more sense, especially for buyers with tighter budgets.

Buyers with Smaller Budgets – Should Take a Deeper Look into Zyon Grand

Here’s where things get interesting.

If you fall within the Category 2 buyer segment, meaning you have a set budget between $1.6 million and $2.2 million. You likely had your eyes on a 2-bedroom unit or were barely stretching for a compact 3-bedroom at Penrith.

In this range, there is a much stronger case to take a closer look at Zyon Grand, especially if you missed out on Penrith. Jumping the gun, essentially we take a view that Zyon Grand has a decent 2 Bedroom product and is worth looking into. 

To keep things organised, we’ll deliberate on this in the sections that follow, unpacking the key factors that differentiate Zyon Grand vs Penrith from a price, product, and risk perspective.

Worth taking a 2nd look into Zyon Grand’s 2 Bedroom units.

#1 – Penrith’s HDB Upgrader Proposition Is Negated When It Comes to 2 Bedders

Yes, without a doubt, the key draw for Penrith is that it allows buyers to tap into the strong and proven HDB upgrader demand in Queenstown.

But we should not let this be a sweeping statement. HDB upgraders living in the Queenstown area are mostly families previously staying in 900-plus to 1,100-plus sqft BTOs or resale HDBs. When they upgrade, they will be paying top dollar for a 3-bedroom condo of a similar size.

It is a stretch to assume that this same demand driver extends to the smaller 2-bedroom unit types.

2-Bedders Appeal to a Different Buyer Profile

That said, having researched Penrith, we are aware that its 2-bedroom units have also performed above average in Queenstown. But we believe the demand for these smaller units does not come from HDB upgraders, rather, it stems from Queenstown’s city-fringe location and the relatively “reasonable” pricing established by nearby projects such as Stirling Residences and Commonwealth Towers.

In this aspect, Zyon Grand’s 2-bedroom units would stand on par, if not slightly more advantageous, in terms of location, especially when appealing to future 2-bedroom resale buyers.

Looking at the current launch price brackets for Penrith vs Zyon Grand’s 2-bedroom units (specifically the 2-bed, 2-bath layouts), they fall within the same quantum price range.

So, assuming you are an affluent DINK (dual income, no kids) buyer, you would likely weigh both developments equally in terms of their 2-bedroom offerings.

#2 – Pricing Dynamics: Buying In at Benchmark Price (Penrith) vs Below Benchmark Price (Zyon Grand)

Note,  this point does not suggest that Penrith is overpriced. In our view, it is fair and expected for Penrith, being the latest development in Queenstown, to set a new benchmark for prices in the area, much like what Orie did for Toa Payoh and Elta did for Clementi.

However, it is worth noting that Zyon Grand is launching against the benchmark prices already set by both River Green and Promenade Peak. Depending on your ballot number, floor level, and the specific unit you are eligible for, there’s a good chance you could secure a unit priced below the higher-tier transactions seen in those projects and even within Zyon Grand itself.

How Penrith and Zyon Grand Stack Up Against Resale Prices

New launch comparables aside, let’s look at the resale market for context.

Penrith’s launch prices are around $2,700 psf, while Stirling Residences trades in the $2,300 psf range. Adjusting for GFA harmonisation, that places Stirling at roughly $2,484 psf, translating into a ~$216 psf gap between Penrith and its nearest resale comparable.

In contrast, Zyon Grand’s estimated launch price of $2,800-$2,900 psf compares favourably with Riviere, which is already trading at $2,800 psf without any upward adjustment for GFA. This highlights the relative strength of Zyon Grand’s entry price, especially within the CCR (River Valley) zone.

What Each Buyer Is Really Paying For

In summary, as an investor in Penrith, you’re buying in with the expectation that future buyers will accept higher benchmark prices set for the Queenstown area.

In Zyon Grand’s case, you’re buying in with the anticipation of a price recovery in the CCR, positioning yourself for potential upside as the River Valley market corrects toward parity.

Price Gap – Penrith vs Resale Comparable 

Price Gap – Zyon Grand vs Resale Comparable 

#3 – Competitive Dynamics: Penrith Faces Stronger Resale Competition While Zyon Grand Has an Edge

It is worth noting that when a new-launch development reaches its TOP status, prospective resale buyers naturally start comparing it with surrounding resale projects. At this stage, having a distinct competitive advantage plays a key role in achieving higher price appreciation and capital gain.

Penrith Faces Tougher Resale Competition in Queenstown

Despite its multiple strengths, one of Penrith’s key challenges lies in the strong resale competition it will face from equally new and more affordably priced developments such as Stirling Residences and Commonwealth Towers.

These projects possess equally strong attributes and appeal to the same pool of upgraders and investors, which could place near-term pressure on Penrith’s resale performance once it obtains TOP.

Zyon Grand Gains an Edge Through Layout Efficiency and Affordability

Zyon Grand, on the other hand, launches in a CCR location where many still express concern about potential oversupply. Yet, it holds a distinct advantage over competing resale developments in the area.

A key differentiator lies in its compact unit sizes paired with efficient layouts. A combination that resonates particularly well with buyers seeking to balance location with affordability.

To put this into perspective, one major factor behind the underperformance of older River Valley resale condos is their larger-than-necessary unit sizes, which inflate total purchase quantum.

For example, the average size of a 2-bedroom unit at Tribeca ranges from 900 to 1,033 sq ft. At an average of $2,700 psf, that translates to a total quantum between $2.4 million and $2.7 million.

By contrast, Zyon Grand’s 2-bedroom units range from 538 to 721 sq ft, priced roughly between $1.6 million and $2.1 million, a far more accessible entry point for a brand-new CCR property.

From a competitive standpoint, both Zyon Grand and River Green effectively address the affordability gap in the CCR, offering compact, efficiently designed homes at entry prices that broaden the buyer pool.

#4 – Integrated Project Without a Pricing Premium

An understated aspect of Zyon Grand is that it is an integrated development that comes without a pricing premium.

Of course, this should be taken with a pinch of salt. It isn’t comparable to full-fledged integrated projects like Pasir Ris 8, Watertown, or Parktown, which are directly connected to MRT stations with large-scale retail malls.

That said, compared to other River Valley resale comparables or upcoming new launches, Zyon Grand stands out as the only project directly connected to Havelock MRT station and featuring a supermarket within its compound.

Most importantly, it does not command a pricing premium, unlike most integrated developments that usually price in additional value for the convenience they provide. This positions Zyon Grand as a rare opportunity in the CCR segment, offering true connectivity benefits at market-aligned pricing.

TLDR: Valid Case for Consideration, Particularly for 2-Bedroom Units in Zyon Grand

In short, if you are a buyer that is working within a set budget of $1.6 million to $2.2 million and are restricted towards buying a smaller 2-bedroom, we feel that there is a case for considering 2-bedroom units in Zyon Grand.

In essence, there is a strong product-market fit specifically for 2-bedroom units in Zyon Grand. The balance of affordable quantum, premium CCR location, and optimal convenience gives its 2-bedroom unit a competitive position in the market.

Evaluating 2-Bedroom Condos Through a Different Lens

As a sidenote, we felt that the evaluation criteria for 2-bedroom investment condos should differ from that of a 3-bedroom investment condo. Criteria such as HDB upgrader demand or proximity to reputable schools would matter less, as compared to centralised location, proximity to malls, and MRT accessibility.

Incremental Risk That Comes With Zyon Grand When Compared Against Penrith

The research article would not be complete if we stopped short of addressing the incremental risks that come with investing in Zyon Grand as compared to Penrith.

In the section below, we will touch on the key risk considerations that investors should be mindful of when evaluating Zyon Grand.

Risk #1 – Oversupply Consideration in River Valley

For Penrith, you do not have to deal with an oversupply situation, as it is the only new launch condo in its area during this period.

However, for Zyon Grand, you would be launching alongside four other new projects — three of which (The Robertson Opus, Promenade Peak, and River Green) have already launched, with River Valley Green (Parcel B) expected to launch soon.

Together with Zyon Grand, this accounts for a total new supply of 2,649 units in the River Valley area.

To mitigate this risk, you should ensure you have secured a good ballot number for Zyon Grand and aim to buy into mid- to lower-floor units that are priced competitively, ideally below the comparable pricing of River Green and Promenade Peak.

Doing so allows you to maintain a pricing and affordability edge against both competing new launches and other units within Zyon Grand itself.

Risk #2 – Uncertainty Over Service Apartment Element

Impact on Liveability and Resale Value Remains to Be Seen

The other risk worth noting is that there is a service apartment component integrated within the private residences compound, and its impact on liveability, privacy, and exclusivity is still uncertain.

Having deep-dived into this in our other research article “Will Zyon Grand’s Service Apartment Impact Its Future Resale Value?”, we prefer to view this as a lower-risk consideration.

Based on precedents from existing developments such as One Holland Village Residences, which also have service apartments integrated within the same compound, we do not foresee any major negative impact on resale demand or long-term value.

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• River Modern vs River Green vs Zyon Grand – Can River Modern Win ?