District 20, covering Bishan, Ang Mo Kio and Thomson, has gone four years without a large new launch. The last was AMO Residence in July 2022. That changes in the fourth quarter, when Thomson Reserve is slated to launch with 1,268 homes, The Edge Singapore reported.
The project sits on the former Thomson View Condominium, next to Upper Thomson MRT station on the Thomson-East Coast Line and near Thomson Plaza. A consortium of UOL Group, Singapore Land and CapitaLand Development bought the 255-unit estate for $810 million in late 2024, after five collective-sale attempts over about 17 years, including a 2013 deal the High Court later voided. The court approved the sale in July 2025. The new development is 99-year leasehold: six blocks of 21 and 30 storeys, with two- to five-bedroom units. At 1,268 homes it is slightly larger than Jadescape, with 1,206, the district's last mega-development.
If you own an older condo yourself, our piece on the new en bloc thresholds explains how this year's law changes the consent a collective sale needs.
What developers have sold in District 20
Roov's URA records show how thin new supply has been. Developers sold 381 condominium units in the district in 2022, almost all at AMO Residence, at a median $2,104 psf. Since then it has been a trickle: four units in 2023, one in 2024, 20 in 2025 and three so far this year, the last at the boutique Artisan 8 at a median $2,361 psf.
AMO Residence shows what happened to the buyers of the last launch. The developer's 372 sales ran from July 2022 to April 2025 at a median $2,111 psf. Since February 2024, 40 units have been resold before the project's legal completion, at a median $2,515 psf, the latest in July. That is about 19% above the launch median.
The resale benchmark
A buyer weighing Thomson Reserve will be weighing it against homes that already exist. In the twelve months to August, leasehold condominiums in District 20 resold at a median $1,977 psf across 346 deals, up about 4.4% on the year before. Freehold condominiums, far fewer at 55 deals, resold at a median $1,954 psf, up about 11%.
Leasehold selling at or above freehold is unusual, and it says something about the stock: much of District 20's leasehold supply is newer. The busiest resale project in the district is Jadescape, on a lease that began in 2018, with 71 resales in the last year at a median $2,323 psf and a median price of $1,788,000. Elsewhere in the district, Thomson Three resold at a median $2,155 psf, Sky Vue in Bishan at $2,227, The Panorama at $2,087, Centro Residences in Ang Mo Kio at $2,024 and Thomson Grand at $1,819.
Those resales have mostly paid their owners. City & Country's analysis of URA Realis data for The Edge Singapore found that 98% of leasehold resales in District 20 over the past decade made a gross gain, against 94% of freehold ones, with the largest gains led by Jadescape and the losses concentrated in a few projects, Sky Habitat among them.
Comparing a launch price with a resale price
Do not set Thomson Reserve's psf directly against Jadescape's. Since 1 June 2023, the area a developer sells you no longer includes the air-conditioner ledge, so the same home reads smaller and its psf higher at the same price. A project planned after that date, as Thomson Reserve is, will be quoted on the new measure; Jadescape was sold on the old one. Our guide to floor-area harmonisation shows how to put the two on the same footing. Compare prices for the same number of bedrooms first, and psf second.
Then compare when you pay. A new launch is paid in stages as it is built, while a resale home is paid in full at completion and the mortgage starts at once. The resale versus new launch comparison sets the two side by side on total cost over your holding period, and the progressive payment tool shows what each stage of a new launch will ask of your cash and CPF. Our guide to buying a new launch condo walks through the process from booking to keys.
If you are upgrading from an HDB flat nearby
Much of the likely demand for Thomson Reserve is HDB upgraders in Bishan and Ang Mo Kio who want to stay near family and schools. For them the order matters: sell first or buy first, and whether the timeline between the two holds. The upgrade planner and our guide to upgrading from HDB to private lay out both routes, and the sale proceeds calculator shows what the flat leaves you after the loan and CPF refund. What you can borrow and the stamp duty are the two numbers to settle before any showflat visit.
One school note. Thomson Reserve is within a kilometre of Ai Tong School, which is not among the twelve schools in MOE's new two-track Phase 2C, so distance priority there carries on under the 2027 rules. We explained what those changes do to the school premium last week.
Records at the top of an older district look different. In District 15, 31 freehold condos have set price highs since June while the district median barely moved.