The first two new launches in 2024 are off at a slow pace

The Arcady Boon Keng is attractive to investors since it is only 1 km away from St Andrews Junior School. Hong Wen School.

KSH Holdings is developing the project in conjunction with SLB Development as well H10 Holdings.

Rents increased by “remarkable” 40 percent between 2020 and 2023. The increase reflects demand for residential real estate on the edge of cities.

Only 11% of all the private residential units to be built this year, or 11,004 units, will be freehold.

The year’s first private home launches were launched over the weekend by two projects – Hillhaven at District 23 and The Arcady freehold in Boon Keng District 12, both of which had a relatively slow start. Analysts, however, described the sales figures as “encouraging”.

Far East Organization along with its joint venture partner Sekisui House have sold about 33% of the units in their Hillhaven Phase I launch, which took place on Saturday 20th January. Prices start at S$1,903/square foot.

In general, many people still believe in the positive buying sentiment, but it is possible that prospective buyers are taking more time to research and consider all their options.

The buyers still seem to be price-conscious. They’re also very selective and don’t appear to be in a hurry.

Experts believe the take up of both projects will increase as buyers slowly return to their market.

Pinetree Hill condo

Analysts consider that Hillhaven, with its attractive price tag of S$2,150/sqm for 99-year leasehold homes outside Central Region (OCR), is a great value.

Far East released a statement on Saturday stating that all 59 buyers of Far East’s properties were Singaporeans, permanent residents or PRs. The majority (70%) were between the age of 31 and 50.

The majority sold units with two or three bedrooms, the company said.

In the meantime, 51 of The Arcady’s 172 units freehold – just below 30% – were sold at 4 pm on Sunday.

All 11 of the one-bedroom-and-study units, and 25 out of 38 two-bedroom units, were sold.

In 2023, the HDB estate of Kallang/Whampoa in the surrounding area saw some 54 units selling for over a million dollars.

The project offers a compelling buy for HDB Upgraders in search of freehold developments, located in an thriving and strategic neighbourhood near the City.

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