The final penthouse at Pinetree Hill, #24-21, is a genuinely unusual proposition. It is the only penthouse in the 520-unit development, occupies the top floor, has five bedrooms, a private lift and a single-level residential layout, and is now being marketed at S$7.0 million, or about S$2,436 psf on its stated 2,874 sq ft strata area. This is the project’s “one and only single-floor penthouse” and the last developer unit.
But that S$2,436 psf figure is not the right basis for judging value.
The floor plan indicates that the 2,874 sq ft includes 43 sq m, or 463 sq ft, of strata void above the living and dining room. Removing only that void leaves 2,411 sq ft of actual horizontal strata floor plate. At S$7 million, the effective price becomes approximately S$2,903 per sq ft of horizontal strata area, and that 2,411 sq ft still includes the balconies and air-conditioning ledges shown on the plan. In other words, the enclosed internal space is smaller again.
That distinction substantially changes the investment case.
Our conclusion after examining Pinetree Hill’s own transactions, the floor plan and furnishings, and current and historical penthouses at The Trizon, Pandan Valley, Quinterra and The Sierra is:
At S$7 million, #24-21 is no longer obviously overpriced, but it is not a conventional “value buy” either. It is best understood as a fairly priced — and for a particular buyer, potentially very compelling — lifestyle premium for brand-new, single-level, private-lift penthouse living.
Buyers willing to accept stairs, roof terraces, older buildings and renovation can obtain far more nominal strata area, and in some cases freehold or very long leasehold tenure, for S$1 million to S$3 million less. But none of the named alternatives reproduces Pinetree Hill’s combination of newness, five-bedroom multigenerational planning, private-lift arrival and genuinely stair-free living.
The S$971,000 discount matters — but it does not by itself make the penthouse cheap
As recently as late July and August 2026, #24-21 was being marketed at S$7.971 million, equivalent to S$2,773 psf on its 2,874 sq ft declared area. The like-for-like reduction is therefore approximately S$971,000, or 12.2%.
That is a substantial repositioning. But a price reduction reflects the seller’s changed expectations, not intrinsic value.
At S$7.971 million, once the 463 sq ft void is removed, the price was effectively about S$3,307 psf of horizontal strata floor plate before accounting for balconies and air-conditioning ledges. At S$7 million, that drops to approximately S$2,903 psf. The new price therefore addresses much of what was previously an aggressive premium.
There is an interesting historical benchmark. Pinetree Hill launched in July 2023 with an average selling price of about S$2,460 psf, while UOL reported starting prices from S$1.248 million for a one-bedroom-plus-study to S$4.268 million for a five-bedroom. Around 150 of the 400 units released were sold during the launch weekend. At face value, today’s S$2,436 psf penthouse therefore looks almost like a return to the development’s launch average.
That comparison is seductive but incomplete: normal apartments did not carry a 463 sq ft living-room void inside the denominator.
The void issue is not an anomaly invented by the marketing agent. Singapore’s previous measurement regime permitted strata area treatment that could include void areas even though voids were excluded from URA gross floor area. URA and SLA subsequently harmonised the rules so that voids are excluded from strata area for projects falling under the new regime. Pinetree Hill’s Pine Grove Parcel A was launched for a Government Land Sales tender in February 2022 and awarded in June 2022, predating the 1 September 2022 GLS cut-off URA identified for the harmonised rules.
So the correct way to think about #24-21 is not that the stated 2,874 sq ft is “wrong”. It is a legitimate strata figure under the applicable regime. The investment question is simply whether a buyer should value 463 sq ft of vertical architectural volume at the same rate as 463 sq ft on which one can place a bed, desk, wardrobe or sofa.
They should not.
What the floor plan actually gives you
The Type PH layout provides an important detail by expressly noting:
267 sq m / 2,874 sq ft, inclusive of 43 sq m / 463 sq ft of strata void above living and dining.
That produces three different concepts of “size”:
| Area concept | Approximate area | What it means |
| Declared strata area | 2,874 sq ft | The contractual/marketing area, including the living/dining void |
| Horizontal strata floor plate after removing void | 2,411 sq ft | Actual horizontal strata space before deducting balconies, A/C ledges and other non-enclosed areas |
| Enclosed internal floor area | Less than 2,411 sq ft | The living space inside the external envelope; an exact figure cannot responsibly be derived without survey dimensions |
The plan itself notes that areas include balconies and air-conditioning ledges where applicable. Therefore, 2,411 sq ft should not be described as 2,411 sq ft of enclosed usable living space.
That said, the design is much more efficient than the words “463 sq ft void” initially suggest.
The void is expensive, but it is in the right place
The strata void is concentrated entirely above the living and dining area rather than distributed across stairwells, galleries or multiple double-volume spaces. The result is a genuinely dramatic entertaining space, defined by full-height glazing, elongated pendant lights and an expansive view extending well above the height of a typical apartment.

This is therefore not “dead” strata in the sense of a huge inaccessible roof terrace that a buyer may use twice a month. The void actively improves the experience of the apartment’s most important public room — light, volume, visual drama, and the sense of occupying a penthouse rather than a large standard apartment.
But it is still not additional floor area.
That distinction is crucial. A landed-property downsizer should not walk into #24-21 expecting the room count, storage, and furniture footprint of a 2,874 sq ft landed home. In horizontal terms, the apartment begins at 2,411 sq ft before the balconies and ledges are removed.
The single-level arrangement is the real luxury feature
This is where the value proposition of #24-21 becomes considerably more compelling.
Most large penthouses in the surrounding resale market obtain their huge headline areas by spreading the home over two or three floors and adding roof terraces, pools and open gardens. Pinetree Hill does almost the opposite: the ceiling goes upward, but the family never has to.
The plan places:
- the main master suite with its own walk-in wardrobe and bathroom at one end;
- a junior master suite, also with a walk-in wardrobe and ensuite, at the opposite end;
- three further bedrooms;
- a separate family room;
- private lift and foyer;
- powder room;
- kitchen plus yard/service zone, store and household facilities;
- a principal living/dining balcony; and
- a smaller private balcony off the junior-master side.
That combination is rare in the comparison set.
The current S$7 million listing also includes private-lift access, allowing residents to travel directly from the car park to their private foyer and move throughout the single-level home without using any stairs.
Multigenerational families are arguably the ideal buyer
For parents living with an adult child, or a three-generation household, the two substantial bedroom suites at opposite ends are unusually useful. The principal master can serve the older generation while the junior master can give adult children or a younger family almost suite-like separation. The family room in the middle creates another semi-private gathering zone.
It also offers a practical advantage rarely seen in psf comparisons: an elderly parent can reach the living room, kitchen, balcony, family room, and every bedroom without climbing a single internal step.
That said, truly multigenerational buyers should verify bathroom accessibility, shower kerbs, doorway widths, and whether future grab bars can be installed; a single-level floor plan does not automatically make a unit fully mobility-adapted.
Families with older children also fit the plan exceptionally well
For teenagers or university-age children, the layout delivers more separation than five bedrooms lined along one conventional corridor. The junior master gives one child a very independent zone; the family room can become a second television/gaming/study lounge; and the main living/dining room can remain the formal family space.
That is arguably a better use of 2,411 horizontal strata sq ft than a duplex, where perhaps 200–300 sq ft of usable space and circulation is effectively surrendered to stairs, landings, and awkward upper-level access.
Landed-property downsizers should like it — with one caveat
The strongest appeal to a landed downsizer is not the 2,874 sq ft headline. It is the absence of vertical circulation.
A buyer leaving a two- or three-storey landed house specifically because stairs have become inconvenient gets the high-volume architecture and multiple-bedroom separation associated with a house, but without having to repeatedly move between floors.
The trade-off is storage and true floor footprint. The penthouse will almost certainly feel smaller in day-to-day furniture capacity than a genuinely enclosed 2,874 sq ft home. Buyers with extensive collections, large wardrobes, sports equipment or several decades of landed-house possessions need to evaluate storage room-by-room rather than rely on the strata number.
For buyers explicitly seeking single-level luxury living, however, this is the strongest argument in Pinetree Hill’s favour — and the area in which its cheaper competitors struggle most.
The furnished package strengthens the lifestyle case, not the investment mathematics
The residence is substantially furnished rather than presented as an empty developer shell.

From the photos, the living and dining areas appear to include a coordinated large-format furnishing scheme: oversized pale sofas, lounge chairs, rugs, sculptural coffee and side tables, an oval dining table, dining chairs and bench seating, console furniture, decorative pieces, wall art and the unusually long suspended light fittings required by the double-volume ceiling.
The master bedroom likewise appears fully styled with an upholstered bed, bedside furniture, lounge seating, coffee tables, rugs, artwork, curtains/blinds and complementary loose furniture.

The useful economic point is not that these objects are worth S$X. We currently do not have sufficient information to attribute brands, retail prices, provenance or even precisely which photographed pieces transfer with the sale.
Instead, the package affects value in three practical ways.
First, it reduces the friction of moving into an unusually large-volume space. Furnishing a double-height living/dining room successfully is not as simple as carrying furniture over from a 1,500 sq ft apartment; scale, lighting height, curtain treatment and visual proportions matter.
Second, the scheme appears designed for this home’s dimensions. Buyers who like the aesthetic can avoid the months of procurement, delivery and interior-design coordination that often follow a luxury-property purchase.
Third, for a landed downsizer deliberately trying to simplify life, a coherent, move-in-ready interior makes the proposition far more attractive than an older penthouse requiring a complete rebuild.
But a buyer should insist on a signed itemised inventory schedule before attributing any value to the package. In particular, the contract should distinguish loose furniture from fixed lighting, window treatments, artwork, decorative accessories, rugs, appliances and developer-installed fittings.
How Pinetree Hill compares with its own five-bedroom apartments
This is arguably a more important benchmark than comparing it with a 6,000 sq ft 1970s roof-terrace penthouse.
Pinetree Hill has 520 units and only one 2,874 sq ft penthouse; ordinary five-bedroom apartments are approximately 1,733 sq ft. UOL’s original project information confirms the development ranges up to 1,733 sq ft for conventional five-bedroom apartments, with one exclusive 2,874 sq ft penthouse.
Recent five-bedroom transactions include S$4.382 million at S$2,529 psf on 12 March 2026, S$4.400 million at S$2,539 psf on 7 March, and a later S$4.705 million, or about S$2,715 psf, for a 1,733 sq ft five-bedroom in April 2026.

Using the S$4.705 million five-bedroom as the closest internal benchmark produces a revealing comparison:
#24-21 costs S$2.295 million more, or approximately 48.8% more in absolute quantum.
Its declared 2,874 sq ft strata area appears 65.8% larger than 1,733 sq ft. On that basis, the penthouse looks unusually attractive: more area growth than price growth.
But once you remove its 463 sq ft void, the horizontal strata floor plate is only 39.1% larger at 2,411 sq ft.
And the psf relationship reverses:
- Ordinary five-bedroom recent transaction: ~S$2,715 psf
- Penthouse headline: ~S$2,436 psf
- Penthouse after eliminating only the void: ~S$2,903 per horizontal strata sq ft
So the penthouse isn’t really trading at a 10% psf discount to that recent five-bedder. On horizontal strata area, it carries roughly a 7% premium—before any further adjustment for its balconies and air-conditioning ledges.
That’s a much healthier valuation story.
A roughly single-digit premium on horizontal strata area for top-floor status, one-of-one scarcity, private lift, double-volume living, five bedrooms including two major suites, family room and furnished presentation is much easier to defend than the headline number suggests. Conversely, it confirms that the buyer is not receiving the 463 sq ft void for free.
Pinetree Hill also achieved S$2,763 psf for a 1,733 sq ft five-bedroom as early as July 2024, when that unit sold for approximately S$4.79 million. That reinforces the point that S$2,900-ish per horizontal sq ft for the penthouse isn’t wildly detached from the development’s proven premium-unit pricing.

What S$7 million buys in the surrounding penthouse market
This is where the answer becomes buyer-specific. The alternatives are dramatically cheaper on headline psf, but almost every one includes substantial space that isn’t comparable to enclosed, single-level living.
Comparison at a glance
| Property | Current ask / relevant sale | Declared area and headline psf | Tenure/completion | Configuration and area quality | Condition / practical implication |
| Pinetree Hill #24-21 | S$7.0m ask | 2,874 sq ft / S$2,436 psf | 99-year from 2022; nearing completion | Single level; 463 sq ft void; 2,411 sq ft horizontal strata before balconies/A/C ledges; private lift; 5BR | Brand new, furnished/part-furnished package |
| The Trizon PH10 | S$4.9m ask | 2,443 sq ft / S$2,006 psf | Freehold; 2013 | Duplex, roof garden/terrace; published plan says 108 sq ft void, leaving 2,335 sq ft horizontal strata before terraces | Renovated/garden-style listings; only 3BR |
| The Trizon PH5 | S$10.88m ask | 5,328 sq ft / S$2,042 psf | Freehold; 2013 | Duplex; private pool; 678 sq ft void, leaving ~4,650 horizontal strata sq ft before roof terraces/pool | Much larger trophy PH, but S$3.88m above Pinetree |
| Pandan Valley | S$4.0m ask | 3,391 sq ft / S$1,180 psf | Freehold; 1979 | Split-level product with open roof-terrace component; exact enclosed portion not disclosed publicly | Huge quantum saving but an older home and very different space |
| Pandan Valley large PH | S$5.488m ask | 6,036 sq ft / S$909 psf | Freehold; 1979 | Very large private roof terrace materially inflates strata area | S$1.512m cheaper than Pinetree; age/condition must be investigated |
| Pandan Valley 6,728 sq ft | S$6.0m ask | 6,728 sq ft / S$892 psf | Freehold; 1979 | Large penthouse/roof-terrace format | Explicitly marketed in original condition; renovation is a major part of the decision |
| Quinterra | S$5.0m ask | 4,532 sq ft / S$1,103 psf | 99-year; TOP 2009 | Triplex; 6m living ceiling; third-level entertainment space and sweeping terraces | Another 4,552 sq ft S$5m listing is described as fully furnished/well renovated |
| The Sierra | S$4.488m ask | 2,906 sq ft / S$1,544 psf | Very long lease, marketed as 999-year; TOP 1999 | Duplex, outdoor patio/garden, not literally top-floor | Listing says original condition; material renovation likely required |
*Data Extracted From Major Property Portals Such As PropertyGuru and 99.co. Data accurate as of 9th September 2026
The table illustrates why simply ranking these homes from S$892 to S$2,436 psf would be almost meaningless.
The Trizon: the most relevant benchmark
The Trizon provides the most relevant benchmark for premium developments. Although it is freehold, it is newer than the other resale alternatives and occupies broadly the same Dover–Pandan Valley catchment. The 289-unit development was completed around 2012–2013.
It also illustrates perfectly why “penthouse psf” can mislead.
The current 2,443 sq ft, S$4.9 million penthouse is explicitly marketed as a duplex, with a lush roof garden/roof terrace and balconies. The floor plan identifies it as Type PH10 and states that its 2,443 sq ft includes 108 sq ft of void, giving about 2,335 sq ft of horizontal strata before removing the roof terraces and other outdoor space.
So while it costs S$2.1 million less than Pinetree Hill and is freehold, its 2,443 sq ft should emphatically not be read as 2,443 sq ft of enclosed accommodation. It also has only three bedrooms. For a couple who values freehold tenure, outdoor gardening and a dramatic duplex lifestyle, it could easily be the better purchase. For a five-person or multigenerational household seeking five bedrooms and no stairs, it is not a substitute.
The larger penthouses at The Trizon represent the opposite end of the market. One current five-bedroom listing spans 5,328 sq ft, includes a private pool and carries an asking price of S$10.88 million. The floor plan distributes the home across two levels and identifies 678 sq ft as strata void, leaving approximately 4,650 sq ft of horizontal strata area before accounting for the extensive terraces and private pool zone.
A 5,737 sq ft Trizon penthouse sold for S$9.758888 million in February 2025, or S$1,701 psf. Its Type PH6 plan shows upper and lower floors, roof terraces and approximately 797 sq ft of void. Again, the raw S$1,701 psf is not comparable with an enclosed apartment.
Importantly, not every Trizon penthouse is a duplex. Its published PH3 plan for the 5,102 sq ft shows a single residential floor arrangement rather than separate lower and upper residential floors, plus roof terraces, a pool, and 743 sq ft of declared void. That unit last changed hands for S$8.88 million in December 2021, or about S$1,740 psf.
This distinction matters for our final assessment. A large, single-level penthouse at The Trizon would present a compelling freehold alternative, but historical transaction data shows that such a unit already commanded a substantially higher price than Pinetree Hill five years ago. Meanwhile, the Trizon penthouse currently available below S$5 million is a smaller three-bedroom duplex and is therefore not directly comparable.
Pandan Valley: clearly cheaper, but you are buying a different proposition
Pandan Valley makes Pinetree Hill look extremely expensive if you only look at the portal’s psf column.
Current inventory includes a 3,391 sq ft four-bedroom penthouse asking S$4.0 million, or S$1,180 psf, and a 6,036 sq ft four-bedroom asking S$5.488 million, or S$909 psf. Both are freehold homes in a development dating from 1979.
The smaller unit is marketed with an open roof terrace, while the 6,036 sq ft option has a substantial private roof-terrace component. A further 6,728 sq ft penthouse has been offered at S$6.0 million, below Pinetree Hill’s price despite more than twice the stated strata area — but that particular listing explicitly describes the home as being in original condition and a blank canvas for renovation.
Historical evidence supports the current quantum. A 6,114 sq ft five-bedroom Pandan Valley apartment sold for S$5.2 million, or S$851 psf, on 10 April 2026, while a 5,974 sq ft unit sold for S$5.4 million in April 2024.

Those are real market prices, not fantasy asks.
Yet Pandan Valley’s enormous areas and low psf partly reflect a space buyers must value consciously: open terraces in a nearly five-decade-old estate. The same 1,000 sq ft does not deliver the same utility if one home uses it for air-conditioned bedrooms and family rooms and another uses it for exposed rooftop entertaining.
For a buyer who loves outdoor space, wants freehold, is prepared to renovate and does not mind an older property, Pandan Valley arguably delivers better real-estate value than Pinetree Hill. The S$1.5 million–S$3 million purchase-price saving leaves considerable flexibility for refurbishment, though this report does not assign a renovation cost because scope and specification vary too widely.
For an elderly landed downsizer actively trying to eliminate stairs, waterproofing concerns, and major renovation work, the equation can reverse.
Quinterra: The Best “More Space for Less” Alternative
Quinterra presents one of the strongest price-and-space alternatives to Pinetree Hill. A five-bedroom penthouse of approximately 4,532 sq ft is currently listed at S$5 million, equivalent to about S$1,103 psf—an absolute price difference of S$2 million.
However, the floor plan shows why the headline area requires careful interpretation. The penthouse spans three levels rather than being a single-storey residence. Its principal living spaces include wet and dry kitchens and a living room with an approximately six-metre ceiling, while the upper entertainment level opens onto extensive outdoor terraces. Part of the stated strata area is therefore attributable to open-air space and the double-volume void rather than enclosed, horizontally usable floor area.
Quinterra is also a 99-year leasehold development completed in 2009. Its main compromises relative to Pinetree Hill are consequently its age and vertical configuration, rather than tenure alone.
Even with these caveats, the Quinterra penthouse remains a serious alternative. Buyers in their 40s or 50s who are comfortable with stairs and value expansive entertainment areas, outdoor terraces and a “landed home in the sky” experience may reasonably question whether Pinetree Hill justifies the additional S$2 million.
The comparison changes for older landed-property downsizers. For a buyer around 70 who wants a home that will remain convenient well into their 80s, Quinterra’s three-storey arrangement recreates the same dependence on stairs that a move to Pinetree Hill’s single-level penthouse is intended to eliminate.
Recent Quinterra transactions have mainly involved smaller conventional apartments rather than comparable penthouses. For example, a 1,679 sq ft unit changed hands for approximately S$2.82 million in May 2026. The S$5 million penthouse should therefore be treated as a current asking-price reference, not proof that the market has transacted a comparable Quinterra penthouse at that level.

The Sierra: an extraordinary quantum difference, with substantial compromises
The Sierra offers perhaps the best budget alternative: a 2,906 sq ft, five-bedroom Type E penthouse asking S$4.488 million, or approximately S$1,544 psf.
That is almost the same declared strata area as Pinetree Hill, yet the acquisition price is S$2.512 million lower.
The floor plan shows why the two areas cannot be compared directly. The Sierra is a duplex spread across the 15th and 16th storeys rather than a single-level home. A substantial part of its stated 2,906 sq ft also appears to be occupied by an expansive roof garden with planter boxes and a large circular feature. Without a formal area breakdown, it is impossible to determine precisely how much of the strata area consists of enclosed horizontal living space.
The lower storey contains the living and dining areas, kitchen, yard, utility room, utility WC, store, Bedroom 4 and an adjacent bathroom. This is a practical arrangement for a multigenerational household because an elderly parent or guest could occupy Bedroom 4 and access the main communal spaces without regularly using the internal staircase. The large roof garden also gives the home an outdoor entertaining environment that Pinetree Hill does not provide.
The upper storey forms the main sleeping zone, accommodating the master bedroom and Bedrooms 1, 2 and 3, together with three bathrooms. This separation can work well for families with older children, but parents with young children may find the division between Bedroom 4 and the other bedrooms less convenient.
Its compromises remain significant. The staircase consumes usable area and makes the home less suitable for buyers seeking barrier-free living. The large roof garden increases maintenance demands and may be used less frequently than enclosed space, while the unit is not on the highest residential floor. It is also marketed in original condition within a development completed in 1999, although The Sierra’s tenure is generally described as 999 years.
The Sierra is nevertheless compelling for a value-oriented buyer prepared to undertake substantial renovation. Paying S$4.488 million for a long-lease five-bedroom duplex leaves approximately S$2.5 million between it and Pinetree Hill. Even after allowing for renovation and recognising that part of The Sierra’s stated area is outdoor space, that acquisition gap remains too large to dismiss.
Pinetree Hill offers a fundamentally different ownership proposition: new construction, a furnished unit, private-lift arrival, genuine top-floor positioning, and approximately 2,411 sq ft of horizontal floor area after excluding the strata void. Most importantly, it provides single-level living without an internal staircase. The Sierra wins decisively on acquisition quantum and outdoor space; Pinetree Hill wins on convenience, condition, exclusivity and the usability of its internal layout.
So is #24-21 actually worth S$7 million?
The answer changes depending on what the buyer means by “value”.
For someone whose objective is maximum square footage and tenure for the least money, #24-21 loses.
Pandan Valley offers freehold penthouses at S$4 million to S$6 million with extraordinary amounts of strata space. The Sierra offers a very long-lease five-bedroom duplex at S$4.488 million. Quinterra asks S$5 million for a 4,500-plus sq ft five-bedroom triplex. The Trizon offers a renovated freehold 2,443 sq ft duplex for S$4.9 million.
There is therefore no defensible basis to say S$7 million is “cheap” merely because other penthouses have higher headline psf or because the developer cut almost S$1 million from the asking price.
But those alternatives all ask the buyer to accept some combination of age, renovation, fewer bedrooms, multiple staircases, large outdoor strata areas, roof gardens, non-top-floor positioning or a lack of verified private-lift access.
For the four buyer profiles identified in our question, the ranking changes substantially.
Multigenerational households: Pinetree Hill is arguably the best-fitting product. Five bedrooms, two substantial master zones at opposite ends, a family room, service accommodation and a private lift, all on one level, constitute genuine functional value rather than marketing rhetoric.
Families with older children: Also an excellent fit. The junior master and separate family room give older children meaningful autonomy without needing a duplex.
Landed downsizers: Potentially the best target market of all. A buyer can retain high ceilings, generous entertaining space, greenery and multiple bedroom suites while eliminating household stairs and much of the maintenance burden of landed living. The caveat is that they must understand that “2,874 sq ft” does not mean 2,874 sq ft of furniture-bearing floor.
Buyers specifically seeking single-level luxury: Pinetree Hill wins decisively among the currently listed comparison units reviewed. The named sub-S$7 million alternatives are predominantly duplex, triplex, split-level or roof-terrace products. The historical Trizon PH3 demonstrates that genuine single-level trophy penthouses exist in the vicinity, but it is not currently available and last transacted at S$8.88 million in 2021.
For these buyers, the real comparison is therefore not:
S$2,436 psf Pinetree Hill versus S$909–S$2,006 psf elsewhere.
It is closer to:
S$7 million for a new, five-bedroom, one-level, private-lift home with approximately 2,411 sq ft of horizontal strata floor plate before balconies/ledges, versus S$4 million–S$5.5 million for older multi-level homes containing materially more terrace, staircase and outdoor strata space.
Seen that way, Pinetree Hill’s premium is real but rational.
Our final assessment
We would classify #24-21 at S$7 million as fair-to-good value for owner-occupation, but not a bargain on area economics.
The earlier S$7.971 million price was difficult to justify: after adjusting only for the void, it implied roughly S$3,307 per horizontal strata sq ft. The S$7 million price brings that down to about S$2,903, much closer to the upper end of what buyers have already paid for Pinetree Hill’s conventional five-bedroom product. Recent 1,733 sq ft five-bedders have reached roughly S$2,715–S$2,763 psf.
Compared with the April 2026 five-bedroom transaction at S$4.705 million, the penthouse asks about 49% more for roughly 39% more horizontal strata floor plate, before an apples-to-apples balcony adjustment. That incremental premium buys the one-of-one top-floor position, private lift, double-volume room, second major master suite, family room, substantially more separation between generations and a furnished, near-immediate-occupation proposition.
That does not look like an obvious overpayment.
Nor does it look like a steal.
A buyer who has no difficulty with stairs should inspect the S$5 million Quinterra and S$4.488 million Sierra before committing. A buyer comfortable undertaking a significant renovation should examine Pandan Valley very seriously. A buyer whose highest priority is freehold tenure and who needs only three bedrooms should look particularly hard at the S$4.9 million Trizon duplex.
But a buyer who says:
“I want five proper bedrooms, privacy for two generations, a private lift, a dramatic penthouse living room, new construction, no renovation project and absolutely no stairs inside my home”
has a much harder time finding a substitute.
For that buyer, S$7 million is defensible and potentially good value precisely because the scarce feature is not 2,874 sq ft — it is 2,411 sq ft of horizontal penthouse floor plate arranged intelligently on one level, attached to a 463 sq ft double-volume architectural gesture, in the only penthouse at a nearly sold-out new development. The development officially contains 520 residences and only one 2,874 sq ft penthouse, and current inventory records identify that penthouse as the remaining developer unit.
Our verdict is therefore:
Pinetree Hill #24-21 is not the cheapest penthouse in Pine Grove/Holland/Dover, not the largest, and certainly not the best value on raw square footage or tenure. It is, however, arguably the best-value currently available penthouse for the narrow but important buyer who places a high premium on brand-new, five-bedroom, genuinely single-level luxury living. At S$7 million, that premium now looks reasonable rather than excessive.
Disclaimer: This article is provided for general information and discussion purposes only and does not constitute financial, investment, legal, tax or property advice, nor an offer or recommendation to purchase any property. Prices, discounts, unit availability, transaction data, rental information, yields, promotional terms and other figures are based on information available at the time of writing and may change without notice. Historical transactions, comparable developments and rental records do not guarantee future prices, rental income, capital appreciation or investment performance. Comparisons between developments may also be affected by differences in tenure, unit size, floor level, orientation, layout, age, location and other property-specific factors. Buyers should independently verify all information with the developer, relevant authorities and their professional advisers, and assess their own financial circumstances and objectives before making any purchase or investment decision. The author may be involved in the marketing or sale of properties discussed in this article.
Article contributed by Jerry Wong.
Jerry Wong is a realtor at Propnex Realty, bringing a rich background in interior and lighting design to his work. He loves exploring diverse spaces and observing the transformative power of real estate. Beyond his professional role, Jerry finds his greatest fulfillment in connecting people with the right properties, gaining immense satisfaction from helping clients achieve their dreams.













