CDL’s Newport Residences sells 57% or 140 of its units at launch

[SINGAPORE] Newport Residences, along Anson Road in District 2, posted a strong sales performance at its weekend launch.

City Developments Ltd (CDL), the developer of the freehold condominium, said on Sunday (Feb 1) that 140 of its 246 units – or about 57 per cent – were sold as at 5 pm. Excluding the development’s super penthouse, the project was priced at an average of S$3,370 per square foot (psf).

PropNex’s chief executive officer Kelvin Fong noted that Newport’s launch was the “best-performing District 2 new launch in recent memory”.

For comparison, he pointed out that the nearby One Bernam – a 351-unit project – recorded a 23 per cent take-up rate at its launch in May 2021; Sky Everton, which has 262 units, sold about 40 per cent of its units during its launch weekend in June 2019. Both projects are now fully sold.

Prices for Newport started from S$1.298 million for a one-bedroom unit, S$1.968 million for a two-bedroom one, S$3.238 million for a three-bedder and S$8.28 million for a four-bedroom premium unit.

While CDL did not provide a breakdown of sales by unit type, it pointed out that “all unit types were well-received, with one, two and three-bedroom units being the most popular”.

The development also features a single freehold super penthouse on level 45, spanning 12,960 square feet, with 360-degree views of the sea and city skyline, exclusive lift access and two private car park lots.

CDL did not disclose the pricing of the super penthouse, saying only that it is available on application.

Of Newport’s buyers, 82 per cent are Singaporeans, while 15 per cent are permanent residents from countries such as Indonesia, China, Malaysia and Canada.  

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ERA Singapore’s CEO Marcus Chu said that demand for Newport was driven mainly by two buyer groups.

The first comprises working professionals and business owners employed in or near the Central Business District (CBD), who are buying primarily for owner-occupation and who value proximity to workplaces, tenure and liveability.

The second group consists of families making long-term asset purchases, drawn by the scarcity of new freehold homes in the CBD.

“For many, the appeal lies in capital preservation and the flexibility to hold, lease, or pass the asset on to their children over time, while retaining exposure to a prime city location,” he added.

On the development’s pricing, Justin Quek, deputy group CEO of Realion (OrangeTee & ETC) Group, said that it is “likely to be viewed by investors and homebuyers as attractive”, given the scarcity of freehold properties located in the city centre. 

He added that the lower interest-rate environment may also have encouraged some buyers to act earlier, amid expectations of rate movements later in the year.

Narra Residences

Meanwhile, Narra Residences, a 99-year leasehold condominium in the Bukit Timah-Dairy Farm precinct, sold 135 of its 544 units – or about 25 per cent – at an average price of S$2,180 psf during its launch weekend, said its developer Dairy Farm Walk JV Development in a statement on Sunday.

The consortium, led by Santarli Group, added that this is the highest new-launch pricing recorded in the area to date.

Located at the junction of Dairy Farm Walk and Petir Road and close to the Hillview MRT station, Narra comprises eight residential blocks that range from six to 16 storeys. 

It was officially launched for sale on Saturday – after a two-week preview from Jan 17 – during which sales got off to a “steady start”, said PropNex’s Fong. 

As at 4 pm on Sunday, two and three-bedroom units accounted for about 90 per cent of transactions, said Narra’s developers, while all one-bedroom units were taken up. Of the 135 units sold, four were commercial shops within the development.

The developers said that prices started from S$998,000 for one-bedroom units, S$1.176 million for two-bedders and S$1.63 million for three-bedders. Four of the 61 four-bedroom units were also sold, with prices from $2.596 million. 

“Most of these price-points are well within the budgets of many households today, which typically range from S$1.5 million to S$2.5 million,” said Fong.

Mark Yip, CEO of Huttons Asia, noted that, similar to past project launches in the Dairy Farm area, 30 to 40 per cent of buyers had addresses registered to Housing & Development Board flats, with the remainder from private homes.

Of these buyers, investors mainly picked up one and two-bedroom units, targeting rental demand from nearby schools such as the GESS International School and The Perse School (Singapore), added Yip.

Owner-occupiers with smaller families tended to opt for two-bedroom units, while larger families gravitated towards three-bedroom homes. This could be as Narra Residences is within 1 km of CHIJ Our Lady Queen of Peace and Bukit Panjang Primary School, and close to The Perse School (Singapore) and GESS International School.

Mohan Sandrasegeran, head of research and data analytics at Singapore Realtors Inc, said that Narra stands out as a nature-anchored, low-density development aligned with the Dairy Farm area, with a quarry, forest and reservoir design narrative reflecting its surroundings.

“This thematic approach reinforces a stronger sense of place and serves as a meaningful differentiator for buyers seeking a quieter living environment and a closer connection to nature,” he added.