10-Year Investment Performance Review: Symphony Suites vs Nine Residences (2015–2025)
As part of the fourth series examining new launches over a 10-year horizon, this analysis centres on Symphony Suites, a 99-year leasehold condominium situated along Yishun Avenue 9. The study benchmarks its performance against Nine Residences, a nearby and slightly older development serving as a key resale comparison. Both projects share similar unit configurations, comprising 2-, 3-, and 4-bedroom apartments and tenure, allowing for a direct, like-for-like comparison across core buyer segments.
However, there are distinct differences between the two. Nine Residences forms the residential component of a mixed-use development, integrated with Junction Nine, a commercial podium comprising 146 retail and F&B units. This integration offers a contrasting value proposition to Symphony Suites, which stands as a pure residential project with a more family-oriented appeal and quieter environment.
From 2015 to 2025, Symphony Suites represents a new launch that entered the market during a period of subdued sentiment, while Nine Residences had already established its subsale and resale track record. Using six analytical charts—three tracking sale price trends and three measuring rental performance—this study examines how both projects evolved in capital appreciation, rental growth, and market resilience over the decade.
The findings reveal that Symphony Suites, despite being launched in a softer market, outperformed Nine Residences in capital growth across all unit types. Its appreciation trajectory underscores how well-timed entry points in a launch cycle can translate into stronger long-term gains. Conversely, Nine Residences, while stable, showed more moderate price movements typical of mature resale developments.
In the rental market, both projects reflected the broader post-pandemic surge, with average rents increasing by approximately 50–70% between 2020 and 2025. This rental resilience highlights sustained tenant demand in Yishun’s integrated residential precinct.
Overall, the 10-year comparison between Symphony Suites and Nine Residences highlights a key insight for investors and homeowners: well-positioned new launches can deliver superior long-term value, particularly when acquired during market troughs and held through multiple property cycles.
2 Bedroom
For 2-bedroom apartments, Symphony Suites was initially priced lower than Nine Residences, then outpaced it over the decade. In 2015, Symphony’s average sale price was about $1,029 psf, versus Nine Residences’ $1,239 psf. Purchasers of Symphony Suites benefited from its launch timing (following the 2013 market cooling measures) – its 2BR prices climbed steadily to roughly $1,353 psf by 2025, representing a 31.5% increase. In contrast, Nine Residences’ 2BR prices barely moved – from ~$1,239 to ~$1,345 psf in 10 years (+8.6%). Notably, Nine Residences saw a dip in the mid-2010s (its lowest 2BR PSF ~$1,122 around 2017) as the property market softened, meaning early Nine buyers faced a value decline before a late rebound. Symphony Suites 2BRs had no such dip – 2015 was the low point, and values rose thereafter. Following 2020, both projects experienced renewed price momentum. By 2023–2025, amid a bullish market, Symphony’s 2BR prices surpassed Nine’s, indicating stronger capital gains for Symphony owners over the decade.
Rents for two-bedroom units in both developments surged dramatically after 2020. Symphony Suites’ 2BR units commanded around $3.00 psf in 2019 (the first full year of leasing after its 2018 completion), slightly higher than Nine Residences’ ~$2.90–$3.00 psf at the time. During the COVID-19 outbreak in 2020, rents stagnated (Symphony’s 2BR rent hovered just above $3 psf, Nine’s around $2.9 psf). However, a sharp rental boom in 2021–2023 followed, driven by limited housing supply and pent-up demand: Symphony’s 2BR rent rocketed to a peak of about $5.09 psf in 2023 (nearly 70% above its pre-COVID level) before settling around $4.70+ psf in 2025. Nine Residences’ 2BR rent similarly climbed to ~$4.66 psf by 2023, ending near $4.60 psf in 2025. Over the period, Symphony’s and Nine’s 2BR rents rose roughly +57% and+59% respectively. In absolute terms, Symphony’s average 2BR rent went from about $1,900/month in 2019 to $3,300 in 2023, before easing slightly. Nine Residences went from roughly $2,100 to $3,250/month at peak. The fact that Nine’s older 2BR units caught up in rent psf reflects strong tenant demand even for a 2017-completed project. Symphony Suites, having more units, had a higher 2BR leasing volume (302 lease transactions vs. Nine’s 153). Still, both projects’ 2BRs proved resilient, with only a brief stagnation during the pandemic followed by an aggressive rental upswing.
2 Bedroom Summary
Symphony Suites’ 2-bedroom units provided far greater capital appreciation (31% vs. 9%) than Nine Residences over 10 years. Nine’s 2BR values were relatively flat, likely due to a higher entry price and early market headwinds. On the rental side, both saw ~60% growth post-COVID, with Symphony’s rents expected to be slightly higher by 2025. This suggests that while Nine’s 2BR owners saw limited price gains, they still benefited from booming rents in later years.
3 Bedroom
The 3-bedroom trend reveals that both Symphony Suites and Nine Residences followed a broadly similar price trajectory over the decade. However, Symphony Suites demonstrated steadier and stronger appreciation, while Nine Residences experienced greater volatility.
At launch in 2015, Symphony Suites’ 3-bedroom units averaged around $1,027 psf, slightly below Nine Residences’ ~$1,083 psf. Notably, prices at Nine Residences dipped sharply in 2020, reaching a low of approximately $932 psf—a decline largely attributed to a single distressed sale, where an owner offloaded at a loss.
Launched during a market lull, Symphony Suites largely avoided depreciation, with its 3-bedroom prices holding steady in the low $1,000 psf square foot range before trending upward. By 2021, both projects saw price growth supported by the broader market recovery. By 2025, Symphony Suites’ 3-bedroom units averaged around $1,336 psf, representing an impressive +30% gain from 2015. In comparison, Nine Residences’ 3-bedroom units ended the decade at approximately $1,263 psf, reflecting a more modest +16% increase.
Interestingly, Nine Residences experienced a brief price spike between 2023 and 2024, when its 3-bedroom average climbed to around $1,376 psf—a result of just two high-floor transactions. The low transaction volume gave its price trend a choppy appearance, marked by an early surge, a subsequent dip, and a mild recovery.
In contrast, Symphony Suites displayed consistent year-on-year appreciation, with a smoother upward trajectory supported by greater sales activity. Over the past decade, Symphony’s owners have enjoyed stronger overall capital gains. The development also exhibited higher liquidity, with 444 3-bedroom transactions recorded versus just 21 at Nine Residences—a reflection of Symphony’s larger supply of 3-bedroom units and steady demand from resale buyers. Meanwhile, many of Nine’s original owners retained their units, resulting in limited resale movement.
Rental demand for 3-bedroom units remained strong in both developments, though Nine Residences recorded a larger percentage increase over time, starting from a lower base. When Symphony Suites obtained its TOP in 2018, initial 3-bedroom rents averaged around $3.00–$3.10 psf—equivalent to roughly $2,400 per month for a ~775 sqft unit. In contrast, Nine Residences, already a few years old, achieved only $2.50–$2.60 psf (approximately $2,300/month for a similar-sized unit), partly due to Symphony Suites’ more compact 3-bedroom layouts, which naturally commanded higher psf rates.
The impact of COVID-19 in 2020 was clearly visible: Symphony Suites’ average 3BR rents stagnated at around $2.90 psf, while Nine Residences hovered at $2.61 psf, marking the rental trough. However, as remote working trends drove demand for larger homes, rents surged sharply post-2020. Symphony’s 3BR rents peaked at $4.68 psf in 2023 before moderating to $4.21 psf in 2025. Nine Residences saw an even stronger rebound, climbing to $4.31 psf in 2023 and ending at $4.17 psf in 2025.
In percentage terms, Nine Residences’ 3BR rents rose about +64% from 2018 to 2025, compared to +37% for Symphony Suites. Remarkably, by 2025, both projects were fetching similar rents (~$4.20 psf) despite Nine’s earlier lag—demonstrating how larger, older units can catch up when the rental market tightens. This underscores the role of unit size and functional layouts in driving demand, as tenants prioritise spacious homes in a post-pandemic environment.
In terms of leasing activity, Symphony Suites recorded four times more rental transactions (404 leases versus Nine’s 99), reflecting its larger scale and broader tenant pool. Nevertheless, both projects demonstrated robust rental demand, with 2023 marking the peak year for rental demand for 3-bedroom units. Although rents moderated slightly in 2024–2025, they remained well above pre-pandemic levels, affirming that landlords in both developments benefited substantially, particularly Nine Residences’ owners, who saw their units transform from undervalued to nearly on par with newer launches.
3 Bedroom Summary
Symphony Suites’ 3-bedroom units appreciated about 30% in value, far outpacing Nine Residences’ ~16% gain. Nine’s 3BR resale prices were more volatile, peaking early and then receding, whereas Symphony’s rose steadily to new highs by 2025. On rentals, Nine’s 3BRs demonstrated higher growth (+64%) from a low base, eventually matching Symphony’s rent levels. This suggests investors who bought Nine’s 3BR at depressed prices could capitalise on the later rental boom. Symphony’s 3BR owners saw more modest rental growth but started with higher rents and enjoyed consistently strong leasing demand.
4 Bedroom
The 4-bedroom market showed both projects benefiting from the post-2020 upswing, although Nine Residences had a delayed start. Symphony Suites’ 4BR units launched at an affordable $1,004 psf in 2015, enabling significant upside later. Nine Residences’ first 4BR resale wasn’t until 2018 (none from 2015–2017), at approximately $1,009 psf. Since Nine’s 22 four-bedroom units were all sold by the developer earlier, the original owners only started putting units for sale in 2018.
From those starting points, values in both condos climbed. By 2025, Symphony’s 4BR averaged roughly $1,336 psf, up +33% from 2015. Nine’s 4BR reached about $1,280 psf by 2025, up +26.9% from its 2018 baseline. Symphony’s overall appreciation was a tad higher, and it actually overtook Nine’s initial pricing. Notably, Nine’s 4BR prices never dipped below the approximately $1,000 psf level – they rose fairly linearly after 2018, indicating that large-unit owners in Nine were not panic-selling, even during softer years. Symphony’s trend was similarly steady upward. Both saw accelerated price gains from 2021 onward (e.g., Symphony 4BR jumped from ~$1,186 in 2021 to $1,293 in 2024; Nine’s to $1,280 in the same period).
One notable outlier: Nine Residences recorded a very high absolute 4BR price of ~$2.4 million – due to the sale of a large 4BR strata house unit – but this did not translate to a higher psf than the average $1.28k. Overall, Symphony had far more 4BR sales (a total of 210 transactions versus Nine’s mere 12). The low turnover in Nine’s 4BRs suggests they were predominantly owner-occupied homes; those owners who did sell by 2025 still made a decent profit on paper.
The rental market for 4-bedroom units saw a notable upswing in the early 2020s, particularly at Symphony Suites. Back in 2019, initial rents for 4BR units were relatively modest—averaging around $2.40–$2.50 psf for both projects, translating to roughly $2,500 per month for a ~1,000 sqft unit. Before the COVID-19 pandemic, these larger layouts were less popular among tenants, resulting in limited leasing activity; for instance, Nine Residences recorded only three 4-bedroom leases in 2019.
When the pandemic hit in 2020, rental growth stagnated across all unit types, including 4-bedrooms. During this period, Symphony Suites’ 4BR rents edged up slightly to around $2.72 psf, while Nine Residences averaged about $2.84 psf between 2020 and 2021, reflecting a temporary pause in rental momentum before the surge that followed.
However, by 2022, the work-from-home era had sparked new demand for spacious units, as 4BR rents surged dramatically. Symphony Suites’ 4BR rent shot up to about $4.31 psf at the peak (2023), before settling at $4.22 psf in 2025. That’s roughly a 70% increase from 2019 to 2025 (from ~$2.48 to $4.22) – the most significant jump among all unit types. Nine Residences’ 4BR units also saw a rise in rent, albeit with greater volatility due to the very low leasing volume.
Nine’s 4BR hit roughly $3.82 psf at peak by 2024 (no 2025 data in the chart). Overall, Nine’s 4BR rent climbed about +60% (from ~$2.38 to ~$3.82 psf for 2019–2024). Both projects’ 4BR rents roughly doubled in dollar terms (from approximately $ 2,500 to over $4,500 monthly). However, Symphony’s newer 4BRs not only achieved higher rents but did so with far more leasing activity (96 leases vs Nine’s mere 18). This suggests many Symphony 4BR owners rented out their units during the boom, whereas most Nine 4BR owners stayed put (fewer rentals). The post-2020 flight to space clearly benefited these large suburban condos – a stark turnaround from the pre-COVID period when 4BR units had relatively soft rental demand.
4 Bedroom Summary
Symphony Suites’ 4-bedroom units experienced about 33% price appreciation from 2015 to 2025, slightly above Nine Residences’ ~27% (2018–2025). Both saw values climb strongly in the early 2020s as family-sized homes gained favour. On the rental front, 4BR units experienced the most dramatic growth, with Symphony’s rent increasing by ~70% and Nine’s by around 60%, reflecting pandemic-era demand for larger living spaces. Symphony’s 4BRs ultimately achieved higher psf rents (~$4.2) than Nine’s (~$3.8–$4.0), consistent with Symphony being newer and offering more modern facilities. Nonetheless, Nine’s big units, though older, did not lag far behind in rent – a sign that tenants value the space and the convenience of Nine’s integrated mall despite its age.
Comparative Trends & Investment Insights
Consistency vs Volatility:
Across all unit types, Symphony Suites showed more consistent and higher price growth than Nine Residences. Symphony’s launch pricing in 2015 was relatively low (following cooling measures in 2013), and its values only trended upward thereafter. In contrast, Nine Residences (launched earlier) had to weather the 2015–2017 market downturn, leading to dips in its resale prices for 2BR and 3BR units. It took several years (until around 2018–2019) for Nine’s prices to recover, and even then, the overall 10-year gains were modest. This illustrates a key point for investors: entry price and timing matter. Buying into Symphony Suites during a soft market enabled a larger upside when the market rebounded. Those who bought resale Nine Residences in 2015 (at a higher psf) saw minimal appreciation a decade later. However, buyers who entered Nine around its trough (2016–2017) would have seen more significant gains as prices climbed back up – timing the cycle is crucial.
Peak Periods and Major Events:
Both projects were influenced by broader market cycles. The late-2010s collective sale frenzy and price recovery of 2017–2018 briefly lifted Nine Residences (e.g., its 3BR peak at approximately $1,376 psf around 2018). The government’s cooling measures in mid-2018 then tamped down growth. The COVID-19 pandemic (2020–2021) initially caused a brief dip in transaction volumes and a softening of rents (especially noticeable in the rental charts for 2020). Yet, unprecedentedly low interest rates and changing housing needs soon fueled a property uptrend. By late 2020 into 2021, demand surged – particularly for homes in suburban areas like Yishun as buyers sought affordability and space. This led to strong capital appreciation from 2021 to 2025 in both Symphony and Nine (Symphony hitting new price highs in 2023–2025 for all unit types). On the rental side, the COVID era created a perfect storm: construction delays (limiting new supply) and an influx of expatriates in 2022–2023 drove rents to record levels. The charts show 2022–2023 as a landmark peak for rents in both condos, with 2BR and 3BR rents peaking in 2023 and 4BR in 2022–2023. By 2024–2025, there was a slight correction in rents as supply improved and some pandemic-era tenants left, but rates remained well above pre-pandemic norms. For example, Symphony’s overall rental indices eased slightly after 2023 but remained ~50% higher than 2019 levels in 2025. This volatility underscores that external events (pandemics, policy changes) can significantly impact real estate performance in the short term, even though the long-term trajectory was upward for both projects.
Symphony Suites vs Nine Residences – Performance at a Glance:
Capital Appreciation:
Symphony Suites clearly outperformed in capital gains for 2BR, 3BR, and 4BR categories. It achieved roughly 30–33% price growth for each unit type over 10 years, compared to Nine Residences’ ~8–27% (lowest for 2BR, highest for 4BR). Symphony’s edge can be attributed to its lower launch price (a value buy) and perhaps a more modern appeal. In contrast, Nine’s resale prices were already elevated, leaving less room for growth. By 2025, Symphony’s psf prices caught up to or exceeded Nine’s in all categories, despite Nine being nearer to amenities – a testament to Symphony’s strong demand and price momentum.
Rental Growth:
Both projects enjoyed exceptional rental increases after 2019, but Nine Residences saw larger percentage jumps in 3BR and 4BR rents because it started from a lower base. By 2025, rent psf for Symphony and Nine were quite comparable: roughly $4.7–$4.8 psf for 2BR, ~$4.2 psf for 3BR, and $4.0–$4.2 psf for 4BR. Symphony’s rentals were slightly higher for small units, while 3BR/4BR rents were virtually neck-and-neck. This suggests that tenants ultimately valued both projects similarly – Nine’s age and smaller land size (94,981 sqft versus Symphony Suites’s 618,946 sqft) did not deter renters once the overall market tightened. For landlords, the key takeaway is the robust rental resilience in this suburban region: both condos saw increases of 40–70%. Future rental demand in Yishun appears strong; however, investors should be mindful that the rapid rent growth of 2021–2023 is unlikely to repeat at the same pace.
Consistency & Volatility:
Symphony Suites offered a smoother ride – its prices steadily appreciated with fewer hiccups, and its larger number of transactions indicates a more liquid market for owners. Nine Residences had greater volatility: price troughs and peaks were more pronounced due to its smaller sample of sales and possibly a more owner-occupier profile (especially for 4BR units, where very few resales and rentals occurred). Investors averse to volatility may prefer the project with more uniform growth (Symphony). In contrast, astute buyers could have taken advantage of Nine’s fluctuations (e.g., buying when Nine’s prices were depressed and riding the recovery).
Strategic Insights for Buyers/Landlords:
Both Symphony Suites and Nine Residences ultimately delivered capital profits and strong rental yields to those who held through the decade. Here are some key lessons for future investors:
- Entry Timing & Pricing: Symphony’s superior appreciation underlines the importance of entry price. Buying during a market low (or a reasonably priced new launch) can yield outsized gains. Conversely, buying at premium resale prices may result in minimal growth. Prospective buyers should look for value opportunities – properties with good fundamentals but priced below recent highs.
- Newer vs. Older Developments: A newer condo may not always be pricier in the long run – Symphony Suites, for instance, started at the same launch prices as Nine Residences back in 2013 and ultimately matched or exceeded the value of the older Nine Residences. This suggests newer mass-market projects can “catch up” to older developments as they mature, especially if the older project was initially overpriced. However, older projects like Nine can still be solid investments if bought at the right price. By 2025, Nine’s owners had seen respectable gains and very strong rents, albeit over a longer holding period. The integrated retail component of Nine Residences likely helped its rental appeal, even if it didn’t translate into price outperformance. Future buyers should weigh whether an integrated condo’s convenience (often priced in at launch) is worth the slower appreciation, or if a simpler project bought cheaply has more upside.
- Unit Type Performance: In Symphony Suites, 2BR and 3BR units were the stars of capital gain (driven by high demand from both investors and first-time family buyers), whereas Nine’s 4BR units (though few) actually saw the highest % appreciation among its unit types by 2025. Larger units can appreciate well when family upgraders are active in the market (as seen post-COVID). On the rental side, smaller units (2BR) typically yield higher psf rents and have huge tenant pools – evidenced by hundreds of 2BR leases in Symphony. However, larger units (4BR), while initially harder to rent, can become rental gold mines when demand shifts (e.g., the work-from-home trend). Landlords should note that 4BR rents are volatile (big swings with low volume), but the pandemic showed that having a unique large unit can pay off when conditions change.
- Holding Period and Exit: Real estate rewards patience. All those who held from 2015 to 2025 saw overall positive returns. Yet, an owner who sold Nine Residences in 2017 at the bottom would have crystallised a loss, whereas one who held until 2025 came out ahead. Similarly, landlords who secured long leases at lower rates in 2018 missed out on the opportunity to benefit from the 2022 rent spike. In contrast, those who renewed or entered the market in 2021–2022 enjoyed windfalls. The strategy going forward might be to monitor market cycles: consider refinancing or cashing out when prices are frothy (as in 2023–2024), and be prepared to hold through down cycles for the next upturn if long-term growth is the goal.
In conclusion, newly launched units at Symphony Suites proved to be a stronger investment in terms of price growth for all unit types, mainly due to their favourable launch timing and value pricing. Resale units in Nine Residences, although less pronounced in capital appreciation, demonstrated that they could maintain their own in rental performance, eventually matching the newer project in rental rates – good news for their landlords. Both condos highlight that the Yishun area has grown in appeal over the decade, benefiting from improved connectivity and amenities. Investors looking at similar mass-market condos can take a cue from this analysis: buying value, riding the property cycle, and aligning investments with market trends are key to maximising returns. Whether one is a future buyer or landlord, understanding these 10-year trends can inform smarter decisions – be it choosing a unit type with better upside or timing the market entry and exit for optimal gains.
| Unit Type (Sale) | Symphony Suites (2015 → 2025) | Nine Residences (2015 → 2025) |
| 2-Bedroom | ~$1,029 psf → ~$1,353 psf (+31.5%) | ~$1,239 psf → ~$1,345 psf (+8.6%) |
| 3-Bedroom | ~$1,027 psf → ~$1,336 psf (+30.1%) | ~$1,083 psf → ~$1,263 psf (+16.6%) |
| 4-Bedroom | ~$1,004 psf → ~$1,336 psf (+33.0%) | ~$1,009 psf (2018) → ~$1,280 psf (+26.9%) |
Table 1. Sale Price PSF Growth (2015–2025): Summary of 10-year price appreciation for Symphony Suites vs Nine Residences (by unit type).
| Unit Type (Rent) | Symphony Suites (Start → 2025) | Nine Residences (Start → 2025) |
| 2-Bedroom | ~$3.00 psf (2019) → ~$4.74 psf (+58%) | ~$2.99 psf (2019) → ~$4.60 psf (+59%) |
| 3-Bedroom | ~$3.07 psf (2018) → ~$4.21 psf (+37%) | ~$2.54 psf (2018) → ~$4.17 psf (+64%) |
| 4-Bedroom | ~$2.48 psf (2019) → ~$4.22 psf (+70%) | ~$2.38 psf (2019) → ~$3.85 psf (+60%) |
Table 2. Rental Rate PSF Growth (Post-TOP to 2025): Summary of rental appreciation for Symphony Suites vs Nine Residences. (Symphony TOP in 2018; Nine in 2017. Initial rent year differs by unit type based on the first available data.)
Overall, both Symphony Suites and Nine Residences delivered positive returns and income growth over the past decade, though via different trajectories. Symphony’s lower entry price meant higher appreciation, while rent surges later compensated Nine’s initially underwhelming performance. Investors can learn from both: a well-timed purchase in an undervalued project can be highly rewarding, and even a slower-growth asset can become a rental cash cow in a booming market. As we look to the future, Yishun’s development and upcoming transport links (e.g. the North-South Corridor) may further enhance property values. Buyers and landlords should stay vigilant of market conditions – but as this 10-year analysis shows, patient real estate investment in fundamentally solid properties tends to pay off richly over time.
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.
