[New Launch] Meyer Blue sells 50% on launch weekend; Norwood Grand sets new Woodlands benchmark at nearly $2,000 psf

Over the first weekend of October, two brand-new private residential launches in the East and North of Singapore drew significant crowds of prospective buyers and home seekers.

In the North, Norwood Grand in Woodlands opened for preview with prices starting from $1,908 psf, setting a new benchmark launch price for the area. Meanwhile, in the East, the luxury development Meyer Blue in the Marine Parade area sold 114 units over its launch weekend—around 50% of its total units—at an average price of $3,260 psf.

Norwood Grand draws 3,700 visitors over three-day preview

The 99-year leasehold Norwood Grand, located on Champions Way, is the first new private residential project in Woodlands in 12 years. Its showflat opened for preview last Friday (4 October) and drew over 3,700 visitors across three days. Official bookings will commence on 19 October.

A spokesperson for City Developments Limited (CDL) said: "Norwood Grand is the first luxury private residential launch in Woodlands since 2012, and we are deeply encouraged by the enthusiastic market response."

Norwood Grand comprises 348 units, with prices starting from $988,000 ($1,996 psf) for a one-bedroom plus study unit, and from $2.238 million ($1,908 psf) for a four-bedroom plus study unit.

Norwood Grand sets new price benchmark for Woodlands private homes

With psf prices ranging between $1,900 and $2,000, Norwood Grand has set a new benchmark for private residential launch prices in Woodlands.

Over the past 12 months, five new private residential developments near Lentor MRT station launched at a median price of $2,209 psf. The developer of Norwood Grand likely referenced the pricing of these projects.

The last private residential project launched in Woodlands was the 99-year leasehold Woodhaven in June 2011, which saw a median launch price of $981 psf.

Private residential developments are limited in Woodlands, with only 113 resale transactions recorded over the past year. The highest resale psf achieved was at Parc Rosewood at $1,556 psf.

99% of Meyer Blue buyers are Singapore Citizens and PRs

Meyer Blue sold half of its units on launch day. UOL Group highlighted that 99% of buyers were Singapore Citizens and Permanent Residents, along with one US citizen.

Meanwhile, Meyer Blue, located along Meyer Road, sold around half of its total units over its launch weekend. The 226-unit freehold development is jointly developed by UOL Group and its subsidiary, Singapore Land Group (SingLand).

UOL Group stated on Saturday (5 October) that 99% of the buyers were Singapore Citizens and Permanent Residents, with one US citizen among them. Anson Lim, General Manager (Residential) at UOL Group, noted that buyers were drawn by the project's prime location, exceptional quality, and freehold tenure.

Despite its premium price point of above $3,000 psf, the project still managed to move more than half of its inventory within a single day—a remarkable performance.

Two- and three-bedroom units accounted for 77% of the total units sold, with the remainder comprising four-bedroom, five-bedroom, and penthouse units.

UOL is well-known for delivering high-quality developments, and the limited supply of new non-landed private residences in the Meyer Road enclave proved a major draw for prospective buyers.