Why has the price for Icon condo remained stagnant for over 10 years?

ICON's resale prices have remained largely stagnant around $1,600–$1,900 psf over the past 10+ years, with recent 2025 transactions (e.g., $1,879 psf for 560 sqft, $1,930 psf for 936 sqft) similar to 2010–2023 levels like $1,711 psf (786 sqft) and $1,870 psf (1119 sqft). Key factors include its 99-year leasehold tenure (commenced 2002, now ~24 years remaining), which limits appreciation in the premium Core Central Region (District 02); an ageing building completed in 2007 facing higher maintenance needs; and broader CCR market dynamics with cooling measures, high supply, and buyer preference for freehold or newer leaseholds. Recent data shows 82 resale transactions in the last 3 years at stable psf levels, with no significant upward trend despite some listings at $1,770–$2,130 psf. Rental yields around 4.4% provide steady income but do little to drive capital gains. For full transaction history and listings, check EdgeProp Singapore.