Beauty World boasts strong livability, resale demand for private homes expected to stay resilient

8@BT, a new private residential project next to Beauty World MRT station, sold over half its units during its launch weekend. However, sales still fell short of some market watchers' expectations, as the area's excellent connectivity and living environment—coupled with prospects of lower mortgage rates—are expected to keep sustaining home price growth in the precinct.

In the memories of many older locals, Beauty World Centre was once a hallmark of urban bustle and an upmarket shopping mall, while the surrounding neighbourhood was often regarded as a "haven for the affluent" due to its concentration of private housing.

The area enjoys convenient transport links; aside from its proximity to the MRT station, multiple bus services ply routes to and from the city centre. Several reputable schools and tertiary institutions are also located nearby.

Several ageing amenities in the Beauty World area

However, several amenities in the area are ageing. Both Bukit Timah Market & Food Centre and Beauty World Centre were built in the 1970s. The former will be redeveloped into an integrated development housing a hawker centre and wet market, while the latter remains in its present state.

Located at Bukit Timah Link, 8@BT moved 83 units—or 53% of its total inventory—over its launch weekend at an average selling price of $2,719 psf.

Given its prime location, surrounding amenities, and boutique scale with a limited unit count, the project was expected to achieve stronger sales figures.

Even so, the somewhat muted response to the new launch has not dampened resale demand for other private residential developments in the vicinity.

Analysts remain bullish on private housing demand in Beauty World

Resale prices at Meadowlodge, the condo situated closest to the MRT station, have risen significantly over the past three years. In its latest transaction in August, a 1,346 sq ft unit changed hands for $1.97 million, or $1,464 psf.

In June 2021, a unit of the same size was transacted at $1.68 million ($1,249 psf). Before the COVID-19 pandemic in November 2019, a 1,367 sq ft unit was sold for $1.5 million, at just $1,097 psf.

Completed in 2005, this four-storey, 99-year leasehold boutique condominium comprises 64 units.

Another project is Daintree Residence along Toh Tuck Road, situated further from the MRT station. The development has seen 13 resale transactions so far this year, with prices ranging from $2,026 to $2,199 psf.

Daintree Residence is one of the newer private developments in the area. Developed by Malaysia's S P Setia International and completed in 2023, the 99-year leasehold condo houses 327 units.

Compared to Daintree Residence, other smaller developments in the precinct such as Terrene at Bukit Timah and High Oak Condominium have seen less buyer interest, partly due to fewer units being put up for sale as well as older building ages.

Terrene at Bukit Timah was built in 2014 and has recorded three transactions so far this year. The 24-year-old High Oak Condominium has seen only two units sold year-to-date.

Nevertheless, analysts remain optimistic about private housing demand in the area. The upcoming mixed-use development The Reserve Residences along Jalan Anak Bukit, slated for completion in 2028, is expected to inject fresh vibrancy into the precinct.