Search for a four-bedroom in District 11 right now. You get 33 results. Do the same for three-bedrooms across projects that have topped out since 2015 and you get 98. That gap — 33 versus 98 — is not a quirk of the week's listings. It is structural, and it is the starting point for understanding why a four-bedroom at Dunearn House is a different proposition from anything else in the launch.
Dunearn House enters D11 with 380 units. Of those, 108 are four-bedroom configurations across three formats: the 1,184 sqft 4BR, the 1,302–1,313 sqft 4BR Premium, and the 1,378 sqft 4BR Premium+Study. Together they make up 28.4% of the development. A developer doesn't allocate more than a quarter of a project to four-bedrooms unless the demand signal is clear. They read it correctly.
Why Bedroom Type Is the Question Buyers Skip
Most investors in Singapore price on quantum and PSF, then think about bedroom count second. The data from Fourth Avenue Residences suggests the order of priority should be reversed.
Fourth Avenue Residences is a 99-year leasehold project in D10 launched in 2018. Across 38 resale transactions in our dataset, the loss rate by bedroom type tells a stark story.
| Bedroom Type | Transactions | Losses | Loss Rate | Avg Profit |
|---|---|---|---|---|
| 1-Bedroom | 13 | 7 | 54% | $9,000 |
| 2-Bedroom | 14 | 2 | 14% | $126,000 |
| 3-Bedroom | 10 | 0 | 0% | $352,000 |
| 4-Bedroom | 1 | 0 | 0% | $294,000 |
The one-bedroom buyer expecting a liquid exit at a premium discovers the next buyer is just as price-sensitive as they were. Over a hold period averaging more than five years, $9,000 average profit does not cover transaction costs. The pattern holds across developments. Smaller units in D10/D11 do not behave like small units in mass-market districts — the buyer pool is thinner and competition from HDB upgraders priced out of the market is real.
The Ownership Behaviour Pattern
Four-bedroom owners in comparable developments barely sell. Across three projects in our transaction data, the volume is conspicuously low relative to the total unit count.
Leedon Green — freehold, D11, launched 2019–2020 — produced five four-bedroom resale transactions in the dataset. Those five sellers averaged $1.05 million profit and 5.75% annualised over four to five years. If the returns are that strong, the low transaction count has one explanation: most owners are not selling because they are living there.
The behaviour is consistent across district, tenure, and price point. Four-bedroom buyers in Singapore purchase to live, not to trade. That ownership pattern is what keeps the 33-listing number in D11 so low, and it is what makes your exit, when you are ready, significantly less competitive than a three-bedroom exit would be.
The PSF Inversion Nobody Talks About
Conventional pricing logic runs: bigger unit, lower PSF. You expect to pay more per square foot for a one-bedroom than a four-bedroom. Leedon Green breaks this.
| Unit Type | Avg Size | Avg Resale PSF | Transactions |
|---|---|---|---|
| 3-Bedroom | 1,044 sqft | $3,131 psf | 7 |
| 4-Bedroom | 1,496 sqft | $3,367 psf | 5 |
The four-bedroom — at 1,496 sqft versus the three-bedroom's 1,044 sqft — commanded $236 more per square foot despite being 43% larger. The reason is buyer composition, not unit size. D11 four-bedroom buyers are not comparing PSF across bedroom types. They are comparing layouts, floors, and views across four-bedroom listings specifically. Because those listings are so few, competition pushes price. The seller with the best four-bedroom in the building names the price.
Note on comparability: Leedon Green was launched before GFA Harmonisation (effective 1 June 2023). Pre-harmonisation strata areas included bonus square footage from bay windows, planters, and AC ledges. Post-harmonisation projects like Dunearn House have smaller stated strata areas representing pure, usable floor space. A direct PSF comparison overstates Dunearn House's PSF slightly. The inversion pattern itself, however, reflects buyer behaviour in the D11 four-bedroom segment — unchanged by harmonisation.
The View Stack: What Lentor Modern's Sub-Sale Data Shows
The argument for buying the premium-facing stack is usually made on feel. The Lentor Modern sub-sale data lets you make it on numbers.
Lentor Modern (99-year, D26, launched 2021) accumulated enough sub-sale transactions across its 3BR units to isolate the effect of stack orientation. Stacks facing unobstructed landed housing and greenery show a consistent pattern:
| Unit / Stack | Orientation | Launch PSF | Resale PSF | Gap vs Non-Premium |
|---|---|---|---|---|
| 990 sqft · Stack 10 | Premium | $2,047 | $2,453 | +$138 psf at resale |
| 990 sqft · Stack 23 | Non-premium | $1,952 | $2,315 | — |
| 1,109 sqft · Stack 28 | Premium | — | +$203 psf at resale | |
| 1,109 sqft · Stack 27 | Non-premium | — | — | |
The launch-price gap between Stack 10 and Stack 23 was $95 PSF — the developer had priced in the view premium. By resale, that gap had widened to $138 PSF. The market repriced the view premium 45% wider than the developer had anticipated. Two cases, same pattern, same market period. The premium-facing buyer paid more at purchase. They sold for proportionally more at exit, and the gap between them and the non-premium seller had grown.
The Low-Floor Counterargument
There is a cohort of buyers right now who prefer lower floors. The entry price is lower, and if PSF appreciation is similar across floors, the percentage return on a lower purchase price looks better on paper.
The Lentor Modern data complicates the case. Across premium-facing stacks, higher-floor units tend to show lower percentage returns — not because appreciation was weaker, but because the developer priced higher floors higher at launch. Floor 8 at Stack 10 selling at $2,418 PSF with a 5.53% annualised return shows the reverse: lower launch pricing, similar market exit pricing, better percentage gain.
The percentage arithmetic is real. What it misses is time-to-sale. A buyer choosing between two four-bedrooms at Dunearn House — one premium-facing, one not — will resolve toward the view, particularly if they are owner-occupiers, which most D11 four-bedroom buyers are. In a market where 33 listings is the entire competitive pool, the premium stack unit does not sit.
On Tenure
Leedon Green is freehold. Dunearn House's tenure is 99-year leasehold. The objection is predictable: freehold holds its value better, so the comparison is flawed.
Two points. First, the freehold premium at Leedon Green was priced into the purchase — buyers paid $2,500–$2,800 PSF entry costs in part because of the tenure. The 5.75% annualised return is net of that. Second, meaningful leasehold decay on buyer perception begins well below 75 years remaining on the lease. Dunearn House buyers selling at a three-to-five year exit will still have 94–96 years on the lease. The buyer they are selling to will not be discounting for tenure.
Fourth Avenue Residences — 99-year leasehold in D10 — produced zero losses across its three-bedroom cohort. Tenure does not change the bedroom type performance pattern.
The Position
District 11. One of 33 four-bedroom listings. A buyer profile that skews to own-stayers, holds for years, and generates sub-sales at $1 million-plus profit when they do transact. A PSF inversion at resale that favours the largest unit type. A view premium that the market has consistently repriced wider than the developer anticipated.
The 4BR Premium or 4BR Premium+Study on a premium-facing stack at Dunearn House is not the obvious trade. The cheaper entry of a two-bedroom, or the comfortable mid-point of a three-bedroom, will attract more buyers at launch. That is precisely the point. Own the unit the market undersupplies, on the stack the resale buyer will pay more for. Hold three to five years. The exit works because the supply position works.
Thinking about Dunearn House?
Cham can walk you through the stack analysis, floor selection, and how Dunearn House fits your overall property position. No obligation — just a direct conversation with the numbers on the table.
Chat with Cham on WhatsAppData sources: URA REALIS, EdgeProp, EcoProp, Huttons. Transaction data as at June 2026. Comparables: Leedon Green (D11, Freehold), Fourth Avenue Residences (D10, 99-yr from 2018), Lentor Modern (D26, 99-yr from 2021). Past performance is not indicative of future results. This article is for informational purposes and does not constitute financial advice. Data commentary by Huttons Asia.