Penrith's October 2025 launch sold 97% in a day above $2,800 psf and pulled Queenstown's prices up, and Stirling resales now sit at $2,719 psf. Commonwealth Towers, 100m from the MRT, has followed: 1-bedders have crossed $1M and the 904 sqft 3-bedder has reached $2.30M, yet both still trade under Stirling and Penrith. The nine-year-old blocks even sell above the newer Queens Peak next door, because their bedrooms fit real beds and their balconies do not eat the unit. The one type that has not moved is the 2-bedroom.
Price Check — How Does It Compare?
Comparison
Commonwealth Towers
$2.30M (3BR, 904 sqft)
Competition
$2.87M (Stirling Residences 3BR, 1,055 sqft, resale)
URA, March 2026
Commonwealth Towers is an 845-unit, 99-year leasehold condo on Commonwealth Avenue, about 100m from Queenstown MRT, completed in 2017 by a Hong Leong Holdings and City Developments joint venture. It is one of the busiest resale markets in District 3: 47 units changed hands in the last 12 months, every one of them a resale.
For its first few years it was the newest large condo at the station, until Queens Peak and then Stirling Residences followed. What the area had not seen since 2018 was a brand-new launch. That changed in October 2025, when Penrith launched a few minutes up Margaret Drive and sold 97% of its 462 units in a day at $2,435 to $3,088 psf. Two of the three names behind Penrith, Hong Leong Holdings and Hong Realty, are from the same family of developers that built Commonwealth Towers eleven years earlier.
So the question for this Commonwealth Towers review is not whether people want to live in Queenstown. Penrith settled that in an afternoon. The question is what each unit type is worth to you now that a new home in the area costs $2,800 psf on average, and which layouts still trade well below that level.
Commonwealth Towers price: what 47 resale deals say
If you are walking into a negotiation, this is the last 12 months of resale activity by unit type.
| Unit type | Sqft | Transacted price | PSF | Deals (12mo) |
|---|---|---|---|---|
| 1-bedroom | 441 – 484 | $900K – $1.05M (med $970K) | $1,911 – $2,334 | 23 |
| 2-bedroom | 689 – 797 | $1.56M – $1.78M (med $1.68M) | $2,153 – $2,437 | 13 |
| 3-bedroom | 904 – 1,076 | $2.10M – $2.73M (med $2.49M) | $2,319 – $2,624 | 11 |
| 4-bedroom | 1,302 | No deals in 12 months | — | 0 |
Source: URA, last 12 months. All transactions are resales.
The 1-bedroom is the engine. Twenty-three deals in a year, out of 341 such units in the building: this is where investors recycle stock between themselves, and it gives the whole development its liquidity. Five deals have crossed $1M since February 2026. A year ago the same units were trading at $900K to $960K.
The 3-bedroom shows the price direction more cleanly, because the same 904 sqft layout keeps trading. In June 2025, a 31st-floor unit went for $2.18M. In May 2026, a 22nd-floor unit, nine floors lower, went for $2.30M. The bigger 1,033-1,076 sqft three-bedders run $2.49M to $2.73M, and the building's highest PSF in the past year, $2,624, came in February 2026.
Here is the full 3-bedroom record, every deal on the books:
| Date | Unit | Size | Price | PSF |
|---|---|---|---|---|
| 20 May 2026 | #22-xx | 904 sqft | $2,300,000 | $2,544 |
| 12 Feb 2026 | #42-xx | 1,033 sqft | $2,712,000 | $2,624 |
| 05 Feb 2026 | #31-xx | 1,055 sqft | $2,600,000 | $2,465 |
| 22 Dec 2025 | #38-xx | 1,076 sqft | $2,700,000 | $2,508 |
| 23 Oct 2025 | #08-xx | 904 sqft | $2,150,000 | $2,378 |
| 29 Sep 2025 | #29-xx | 1,033 sqft | $2,490,000 | $2,410 |
| 26 Aug 2025 | #12-xx | 904 sqft | $2,150,000 | $2,378 |
| 26 Aug 2025 | #16-xx | 1,076 sqft | $2,588,000 | $2,404 |
| 12 Aug 2025 | #07-xx | 904 sqft | $2,096,888 | $2,319 |
| 06 Aug 2025 | #43-xx | 1,076 sqft | $2,730,000 | $2,536 |
| 26 Jun 2025 | #31-xx | 904 sqft | $2,180,000 | $2,411 |
Source: URA, last 12 months
The 2-bedroom is the outlier. Thirteen deals, a $1.68M median, and no movement: the 689 sqft layout traded at $1.64M in November 2025 and again at $1.64M in April 2026. Every other unit type stepped up over the year. This one did not, and that gap is worth understanding before you decide which layout to buy.
What did Penrith's launch change?
Source: EdgeProp
Penrith was the first private residential launch in Queenstown since 2018. The GuocoLand, Hong Leong Holdings and Hong Realty consortium paid $1,154 psf ppr for the land, EdgeProp reported, and launch pricing started at $1.495M for a 614-678 sqft 2-bedroom, $1.973M for a 786-1,066 sqft 3-bedroom and $3.078M for a 4-bedroom, per 99.co's launch analysis.
One thing to keep straight before any comparison: Penrith prices are new launch prices, today's developer prices for homes that complete years from now. When Penrith TOPs, its resale will sit above today's resale comparables. Commonwealth Towers prices are completed resales you can move into next quarter. They are different products, and the comparison table later in this review labels them.
What the launch did to Commonwealth Towers shows up in the before-and-after medians:
| Unit type | Median before launch | Median after launch | Direction |
|---|---|---|---|
| 1-bedroom | $964K ($2,109 psf) | $1.00M ($2,161 psf) | Up |
| 2-bedroom | $1.68M ($2,373 psf) | $1.68M ($2,328 psf) | Flat |
| 3-bedroom | $2.34M ($2,407 psf) | $2.60M ($2,508 psf) | Up |
Source: URA. Split at Penrith's launch date, 18 October 2025. All rows are Commonwealth Towers resales; sample sizes are small on either side of the split, so read direction, not precision.
Two unit types moved, one did not. And one detail matters for the long hold: Penrith has no 1-bedroom units at all. The 341 one-bedders here face no new competition in the precinct, while 462 new households arrive up the road. The same pattern played out at The Panorama in Ang Mo Kio, where a new launch in the same catchment reset what buyers accept as normal pricing and the older condo's resale followed the area up rather than any news of its own. The wider forces pushing launch prices higher across Singapore are the ones we mapped in our market direction piece; Penrith's numbers fit that pattern.
What you are getting at Commonwealth Towers
It is two 43-storey towers on a 130,103 sqft plot, about 154 sqft of land per unit. That is tight. The blocks sit close together, and the lap pool, tennis court, gym and sky terraces are shared by 845 households. If you want a quiet, low-rise place with space between blocks, this is not it. You buy here for the location.
Queenstown MRT (EW19) is about 100m away, and the walk to the platform is covered the whole way. Raffles Place is five stops. Buona Vista is one stop the other way, where the Circle Line runs to one-north and its Mediapolis, Biopolis and Fusionopolis offices keep tenants coming. Queenstown Primary School is about 200m away, inside the 1km band for Primary 1 registration.
The lease runs 99 years from May 2013, so about 86 years are left. That is plenty for CPF use and a full bank loan. At 86 years, it is not short enough to drag the price down.
Commonwealth Towers floor plans: the four layouts that matter
A note on reading these plans: the developer's floor plans state gross area per unit but do not print individual room dimensions. Sizes below are unit totals. Bring a tape measure to viewings if a specific bedroom needs to fit specific furniture.
The 474 sqft 1-bedroom is the investor unit. Open kitchen along the entry, one bath, and a 7 sqm balcony. About 16% of the unit is outdoors, which is high. Tenants do not mind; an own-stay single might. With 23 one-bedroom deals in 12 months, this is the easiest unit in the building to exit.
Source: PropNex Realty
The 689 sqft 2-bedroom is the standard layout: an efficient rectangle with the kitchen open at the entry and both bedrooms on the same side. The 64 sqm gross carries 9 sqm of balcony and ledge, leaving a compact but workable interior. Couples planning ahead should view the second bedroom with furniture in mind.
The open kitchen at the entry is the catch on exit. Newer launches increasingly give even their 2-bedroom units an enclosed or semi-enclosed kitchen, and buyers who cook want that. A layout like this one suits the narrower slice who do not cook much, or do not mind an open concept, which means the pool you sell into later is smaller than for an enclosed-kitchen unit. That is part of why this is the one layout in the building whose price has not moved.
Source: PropNex Realty
The 904 sqft 3-bedroom is the compact one: 84 sqm gross, about 73 sqm indoors after the balcony and ledge. It is the entry-level three-bedder at Queenstown MRT, with an enclosed kitchen and two common bedrooms that clear 8 sqm, so a queen fits in each. The footprint is snug, so plan for built-ins over freestanding wardrobes. This is the layout behind five of the eleven 3-bedroom deals last year, and the one a starter family usually buys.
Source: PropNex Realty
The 1,076 sqft 3-bedroom with yard and utility is the family layout. The living and dining run wide across the front and open onto a long balcony, so the main space is broad rather than a narrow strip. Behind the enclosed kitchen sit a yard, a utility room and a WC, which is what makes a live-in helper workable. Three real bedrooms plus that service area suit a family with two kids and a helper. These are the units trading at $2.59M to $2.73M.
Source: PropNex Realty
The 1,302 sqft 4-bedroom, with its enclosed kitchen, yard and utility room, exists in only 38 units, and none traded last year. More on that in the comparison below.
How does Commonwealth Towers compare to Queens Peak and Stirling Residences?
A buyer who walks away from Commonwealth Towers goes to one of three places: Queens Peak right next door, Stirling Residences a few hundred metres up Stirling Road, or Penrith for new, if they can wait for completion and pay for it. Here is the same 12 months of data across all four.
| Commonwealth Towers | Queens Peak | Stirling Residences | Penrith | |
|---|---|---|---|---|
| Type | Resale | Resale | Resale | New launch |
| TOP | 2017 | 2020 | 2022 | Under construction |
| Walk to Queenstown MRT | ~100m | ~150m | ~400m | ~350m |
| 1-bedroom (median) | $970K | $969K | $1.12M | Not offered |
| 2-bedroom (median) | $1.68M | $1.62M (4 deals) | $1.53M | From $1.495M |
| 3-bedroom (median) | $2.49M | $1.95M | $2.51M | From $1.973M |
| 3-bedroom sizes | 904 – 1,076 sqft | 807 – 1,001 sqft | 883 – 1,281 sqft | 786 – 1,066 sqft |
| Deals (12mo) | 47 | 36 | 112 | 447 on launch day |
Source: URA (resale rows, last 12 months); EdgeProp and 99.co (Penrith launch row). New launch prices are today's developer prices. When Penrith TOPs, its resale will sit above today's resale comparables.
Three reads from that table. At the 1-bedroom, Commonwealth Towers and Queens Peak trade at the same money while Stirling asks about $150K more for being newer: recent 441 sqft deals at Stirling went for $1.05M to $1.09M against $940K to $1.03M here. At the 2-bedroom, Stirling's smaller 624-657 sqft layouts undercut everything at the station, which is part of why Commonwealth Towers' bigger 2-bedders have sat flat. And at the 3-bedroom, the medians hide a size difference: Queens Peak's $1.95M median buys 807-1,001 sqft, while the $2.49M median here buys 904-1,076 sqft.
The cleanest like-for-like is the compact 3-bedroom in 2026. Commonwealth Towers' 904 sqft traded at $2.30M in May. Stirling's 883-893 sqft traded five times between January and April at $2.32M to $2.38M. Same money, and the choice between them is clean: Stirling is five years newer, Commonwealth Towers sits right at the station with a sheltered link to the platform. That is preference, not value.
| Commonwealth Towers — 904 sqft 3BR | Queens Peak — 936 sqft 3BR | Stirling Residences — 883 sqft 3BR |
|---|---|---|
|
 |
 |
| Compact 3BR, ~73 sqm indoors | Compact 3BR, middle bedroom is single-bed sized | Compact 3BR, bedrooms clustered |
| Last deal: $2.30M (May 2026) | Last same-size deal: $1.99M, low floor (Apr 2026) | Last deal: $2.32M (Apr 2026) |
Source: PropNex Realty
| Commonwealth Towers — 689 sqft 2BR | Queens Peak — 775 sqft 2BR | Stirling Residences — 657 sqft 2BR |
|---|---|---|
|
 |
 |
| Open kitchen at entry, bedrooms one side | Bigger footprint, long balcony off the living | Enclosed kitchen, smallest footprint |
| Last deal: $1.64M (Apr 2026) | Last deal: $1.70M (Apr 2026) | Last deal: $1.51M (May 2026) |
Source: PropNex Realty
Why does Commonwealth Towers sell for more than Queens Peak?
Queens Peak is Commonwealth Towers' direct competitor: the other big condo at this station, three years newer. Yet Commonwealth Towers sells for more per square foot. Its 2-bedrooms run a $2,362 psf median against $2,125 at Queens Peak, its 3-bedrooms $2,411 against $2,282, and the highest PSF either building reached in the last year, $2,624, was a Commonwealth Towers deal in February 2026.
The reason is the bedrooms. A queen bed fits in a 7 sqm room, but only just: you would be sitting on the bed to open the wardrobe, with no room for a side table. Eight sqm is the smallest most buyers here accept for a real bedroom. Commonwealth Towers' common bedrooms clear it. Several of Queens Peak's do not, like the middle bedroom in its 936 sqft 3-bedroom below, which takes a single bed but not a queen.
| Commonwealth Towers — 904 sqft 3BR | Queens Peak — 936 sqft 3BR |
|---|---|
|
|
| Common bedrooms clear 8 sqm, a queen fits | Middle bedroom takes a single bed, not a queen |
Source: PropNex Realty
Then the balconies. Queens Peak's run long and deep off the living room. They look generous in the brochure, but it is space you pay for and cannot really use. Commonwealth Towers keeps its balconies small, about 9% of the 904 sqft 3-bedroom, so more of what you buy is indoors. If you want outdoor space, Queens Peak's decks are a real plus. If you count the square feet you live in, the older building gives you more.
That is why Commonwealth Towers keeps selling for more, and it is the lesson for any resale search here: the TOP year tells you the age of the finishes, the floor plan tells you what the home is like to live in. Buyers keep paying more per square foot for bedrooms that fit a real bed.
The 4-bedroom is the exception. Zero deals in 12 months, and the two listed units ask $3.48M and $3.50M for 1,302 sqft. Next door, Queens Peak's 1,507 sqft 4-bedroom sold twice this year at $3.46M and $3.48M, about 200 sqft more for the same money. The Commonwealth Towers 4-bedroom works for a buyer set on this exact address, and not for anyone else.
| Commonwealth Towers — 1,302 sqft 4BR | Queens Peak — 1,507 sqft 4BR |
|---|---|
 |
 |
| 1,302 sqft, two units asking $3.48M-$3.50M | 1,507 sqft with a private lift, sold $3.46M-$3.48M |
Source: PropNex Realty
Renovation reality at nine years old
Commonwealth Towers TOP'd in 2017, so most units carry original 2017 fittings. For an own-stay purchase, budget $30K to $60K for the typical refresh: flooring, repainting, wardrobe interiors, kitchen touch-ups. A unit still in original condition that you want fully redone runs closer to $80K to $120K. Check the air-con systems specifically. At nine years, many original units are at or past the first full replacement cycle.
| Work | Typical range |
|---|---|
| Cosmetic refresh (paint, lights, deep clean) | $15K – $30K |
| Standard own-stay refresh (+ flooring, carpentry touch-ups) | $30K – $60K |
| Full renovation of an original-condition unit | $80K – $120K |
| Air-con replacement (full unit) | $4K – $8K |
Source: typical Singapore renovation ranges, 2026; confirm against your own contractor's quote.
Should a single buyer pick the 1-bedroom over waiting for an HDB?
This is the unit we most often point single buyers toward. If you are between 28 and 34, sitting on CPF and savings, priced out of the new launches here, and you want to own something now, your options are narrower than they look. A single generally cannot buy an HDB flat before 35, or before marriage, so the realistic way to own at a Central station today, without waiting years for either, is a smaller private unit.
The case for this one is in the financing. As a citizen's first property it carries no additional buyer's stamp duty, and with bank rates at three-year lows in 2026, around 1.5% to 1.8% and below the 2.6% an HDB loan would cost you, the monthly repayment on a 75% loan runs roughly $2,500 to $2,700. The same 1-bedder rents for $3,400 to $3,800, so the tenant covers the mortgage with several hundred dollars a month to spare before costs. Maintenance, property tax and tax on the rent trim that down, and the gap would narrow if rates climbed back toward 3%, but at today's numbers it is forced savings with positive cashflow on top.
What you are left with is ownership at the station now, capital building while you hold, and a unit you can sell into the area's deep 1-bedroom market when you marry or upgrade, instead of a flat bought for the sake of owning one. Map how prior private ownership changes your later HDB options before you commit. For the right single buyer, that is $970K working harder than it would in a flat.
Who should buy here, and who should not
If you are buying alone or as a couple, the 474 sqft 1-bedroom from about $970K is the pick. It is the easiest unit in the building to sell, and the tenant pool is the deepest at this station: one stop to one-north, five to the CBD.
A young family with one child should look at the 904 sqft 3-bedroom from about $2.15M to $2.30M. The common rooms are compact, so view it with your furniture in mind.
A bigger family should go straight to the 1,076 sqft 3-bedroom with yard and utility at $2.59M to $2.73M. The enclosed kitchen, utility room and WC are what make a live-in helper work, and it is the only layout below the 4-bedroom that does.
Investors should stay with the 1-bedroom. Twenty-three sales a year is the easy exit you want, Penrith added no new 1-bedroom stock to compete with, and rental demand is steady: one-north, NUH and the CBD are all on this line.
The 4-bedroom is the weak spot: zero sales in 12 months, two listings at $3.48M to $3.50M, and a bigger Queens Peak unit next door for the same money. It works only for a buyer set on this exact address.
Should you buy Commonwealth Towers?
On the QPE framework, Commonwealth Towers scores 9 out of 10: Quality 3 out of 4, Exit 4 out of 4, Price 2 out of 2.
Quality is a 3. The location and the school carry it: 100m under cover to the MRT, Queenstown Primary inside the 1km band. The land is what holds it back: 154 sqft per unit is the cost of putting 845 homes this close to a station, and the smaller units have open kitchens and big balconies. Exit is a 4, earned on the numbers: 47 sales in 12 months, steady tenant demand from one-north and the CBD, and an area whose newest launch sold out in a day. Price is a 2: the freshest 3-bedroom deal here, at $2,544 psf, is about 6% under the $2,719 psf Stirling buyers paid in March 2026, and roughly 10% under Penrith's launch average.
Downside risk is low. The gap to nearby prices is real but only single-digit, and the four-year SSD means a 2026 purchase can sell cleanly from 2030. It is the same pattern we saw at Bullion Park in Lentor: when new launches price well above the older stock around them, the older condo's prices tend to follow the area up, slowly rather than overnight.
So: buy Commonwealth Towers if you want a completed home or a rental 100m from Queenstown MRT, at prices the area's own new launch makes look reasonable. The 1-bedroom is the easiest to rent and resell, the 1,076 sqft 3-bedroom with yard and utility is the family unit, and the flat-priced 2-bedroom is the one to ask hard questions about at viewings. Skip it if you want land, quiet and low density, because that is not what this plot was ever going to be. If you are choosing between new and resale here, the trade is simple: Penrith buyers paid for the next decade of newness, while Commonwealth Towers gives you the same train platform today, at $250 to $350 less per square foot.
