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The Orie by CDL, Frasers, and Sekisui Achieves 86% Sales at Launch Weekend

The Orie, a highly anticipated residential development located in the heart of Toa Payoh, saw an impressive 86% of its units snapped up during its launch weekend. Developed by City Developments Limited (CDL), Frasers Property, and Sekisui House, this project sold 668 out of 777 units at an average price of $2,704 psf.

The development’s success is no surprise, given its prime location and appeal to a diverse group of buyers. Around 93% of buyers were Singaporeans, with the remaining units purchased by permanent residents and foreigners from countries such as China, Malaysia, and the UK, among others.

Wide Appeal Across Unit Types
The units were thoughtfully priced to cater to various buyers. One-bedroom plus study apartments started from $1.28 million, while the most luxurious five-bedroom units with private lifts were priced at $3.48 million. Two- and three-bedroom layouts emerged as the most popular choices among buyers, reflecting strong demand from families and HDB upgraders in the mature estate of Toa Payoh.

Mark Yip, CEO of Huttons Asia, shared that many buyers felt The Orie was attractively priced, especially given its proximity to the future Toa Payoh Integrated Development, which is expected to be completed by 2030. This made it a compelling option for families, first-time buyers, and even former residents returning to their beloved neighborhood.

Demand Driving Record Prices in Toa Payoh
The launch of The Orie has set a new benchmark for property prices in Toa Payoh, with some units selling at over $3,000 psf. Nicholas Mak, Chief Research Officer at Mogul.sg, attributed this to the pent-up demand in the area. The last major launch in Toa Payoh, Gem Residences, was back in 2016.

The rising popularity of Toa Payoh is evident in the numbers. Between 2014 and 2024, the residential population grew by 9.9%, outpacing the national average. This demand has driven property values higher, with buyers banking on long-term growth and resale potential.

Strong Market Sentiment Across Singapore
Elsewhere, Parktown Residences and River Green are also seeing strong interest, fueled by similar market dynamics. Buyers are increasingly drawn to projects located near MRT stations, reputable schools, and future developments, as seen in projects like The Orie.

Market watchers note that government measures, such as the Additional Buyer’s Stamp Duty and cooling measures, have done little to dampen demand. Instead, many buyers—particularly Singaporeans and PRs—remain confident in Singapore’s property market as a stable long-term investment.

Looking Ahead
As new launches like The Orie, Parktown Residences at Tampines, and River Green at River Valley set new price benchmarks, developers and property agents are gearing up for increased buyer interest for launch in February 2025. However, the government continues to monitor the market closely to ensure price stability and prevent overheating.

The success of these projects underscores Singaporeans’ resilience and their belief in the long-term value of real estate. With strong fundamentals and thoughtful planning, new developments like The Orie are poised to shape the future of Singapore’s property market.

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