Thomson Reserve sells 90% of units at average of S$2,900 psf over launch weekend

[SINGAPORE] Thomson Reserve sold 1,143 of 1,268 units – or about 90 per cent of units – at an average selling price of S$2,900 per square foot over the condominium’s launch weekend.

The majority of buyers are Singaporeans purchasing for their own stay and investment, said developers UOL Group and CapitaLand Development in a statement on Sunday (Nov 1), adding that there had been 32,000 visitors over two weekends of public preview.

“The strong demand across all unit types reflects the broad appeal of the project and the enduring value of well-connected homes in an established neighbourhood,” the developers said, adding that it is located near reputable schools, nature parks and the Upper Thomson dining stretch.

PropNex CEO Kelvin Fong noted that Thomson Reserve has achieved the highest number of units sold over a launch weekend among projects launched this year – surpassing the 853 units moved at the launch of Tengah Garden Residences in April.

“We believe buyers were likely drawn to the relatively affordable price quantum of units,” he said, noting that prices started at S$1.5 million for two-bedder units and S$2.5 million for three-bedders.

“Notably, the three-bedroom and four-bedroom units were fully sold at launch, while most of the five-bedroom units were taken up. This points to a healthy buyer appetite for larger homes, particularly those offering attractive pricing and well-designed layouts,” Fong added.

Nicholas Mak, chief research officer at real estate platform Mogul.sg, said that Thomson Reserve’s strong showing has “reversed the trend” of declining take-up rates at residential launches.

For instance, in September, Amberwood at Holland moved only 23 units – or 32.9 per cent of the 70 units put up in the first phase of sales – over its launch weekend.

Mak noted that while “underlying housing demand remains healthy, homebuyers are selective”.

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“Increasingly, the proximity to a MRT station and a retail mall are the key determinants influencing the demand for the residential projects, even for housing projects in the core central region and rest of central region,” he said.

Fong echoed this sentiment, noting that buyers “have moved quickly” for projects in established neighbourhoods near MRT stations, that also have a variety of units at manageable prices.

“We expect new launches in 2027 that tick these boxes should find willing buyers,” he said.