Strong sales for Queenstown, Clementi condo projects over launch weekend

Buying momentum follows near sell-out of Skye at Holland, rising new home demand

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Faber Residence in Clementi, which launched over the weekend (above), moved 86 per cent of its units, while Penrith in Queenstown sold 97 per cent of its units.

(GUOCOLAND)

Two new condominium projects launched over the weekend chalked up strong sales as buying momentum continued a week after the near sellout of Skye at Holland.

Penrith, a Queenstown area project in the city fringe rest of central region, sold 447 units, or 97 per cent, of its 462 units at an average price of about $2,800 per sq ft (psf).

Faber Residence, sited in Clementi in the outside central region (OCR), moved 344 units, or 86 per cent, of its 399 units at an average price of $2,160 psf.

The robust sales reflected pent-up demand for homes in both the Queenstown and Clementi neighbourhoods, which have not seen new supply for at least eight years, said Mr Mark Yip, chief executive officer at Huttons Asia.

"Borrowing rates are at their lowest since 2023 and that has attracted a number of investors keen to invest in property," he added.

PropNex CEO Kelvin Fong noted that Penrith is the fifth new private condo project in 2025 to see take-up exceeding 90 per cent during its launch, alongside Lentor Central Residences, LyndenWoods, Springleaf Residence and Skye at Holland.