[New Launch] Narra Residences sells nearly 25% on launch weekend in steady debut as OCR's first launch of the year

Narra Residences Sells Nearly 25% Over Launch Weekend

Average price around $2,180 psf; a steady start for the first OCR launch this year

Narra Residences, a brand-new private residential development along Dairy Farm Walk, moved 135 units during its launch weekend from 31 January to 1 February. This translates to a take-up rate of approximately 24.8%, achieving an average selling price of around $2,180 psf.

Comprising 540 residential units and 4 commercial shops, the development marks the first Outside Central Region (OCR) project launched in 2026, serving as a key barometer for the market this year.

Two- and Three-Bedders Drive Sales; One-Bedders and Shops Sold Out

As of 4pm on 1 February, two- and three-bedroom units accounted for around 90% of total transactions, while all one-bedroom units have been fully snapped up.

Additionally, all 4 strata commercial shops within the development have also been sold.

This transaction profile clearly indicates that the market is currently anchored by owner-occupier families.

Clear Entry Prices: $1.5M to $2.5M Sweet Spot Dominates

According to transaction records:

One-bedroom units: from $998,000

Two-bedroom units: from $1.176 million

Three-bedroom units: from $1.63 million

Four-bedroom units (61 units): 4 transacted so far, from $2.596 million

The developer noted that overall pricing aligns closely with prevailing family budgets, with the majority of sales concentrated within the $1.5 million to $2.5 million band.

Local Buyers Form the Backbone: Nearly 90% Singapore Citizens

In terms of buyer demographics, approximately 90% are Singapore Citizens, with Permanent Residents making up the remaining 10%.

Compared to the average launch price of around $2,250 psf for OCR new launches in 2025, Narra Residences' launch average of $2,180 psf offers compelling value.

Furthermore, new project sales in this precinct have historically followed a steady, phased absorption trajectory, pointing to solid future potential.

Compared with nearby projects, Dairy Farm has always been a “slow and steady” market.

A Look Back at Past Project Performances in the Vicinity:

Dairy Farm Residences (2019): Sold just 35 units during its launch weekend

The Botany at Dairy Farm (2023): Moved 187 units at launch

Hillhaven (2024): Sold 59 units at launch

According to URA Realis data as of 31 January 2026:

Dairy Farm Residences is completely sold out

Both Hillhaven and The Botany at Dairy Farm have only 1 unsold unit remaining each

This reaffirms the area's typical sales pattern: starting steadily, followed by robust and consistent long-term absorption.

Strong Owner-Occupier Demand

Narra Residences' sales performance is considered encouraging, particularly given that the Dairy Farm locale is widely known for its high proportion of owner-occupiers.

Of the 127 residential units transacted, 115 were two- and three-bedroom layouts, reflecting that buyers are prioritising practicality, family growth needs, and long-term living comfort.

The project differentiates itself through its low-density, nature-integrated positioning, appealing to families seeking tranquillity, lush greenery, and enduring liveability.

Adjacent Plot Awarded: Clear Future Supply, but Short-Term Window Remains

The adjacent Dairy Farm Walk Government Land Sales (GLS) site closed tender on 22 January, attracting 5 bids. It was ultimately awarded to a consortium led by Roxy-Pacific Holdings at $442 million ($962 psf ppr).

While this points to incoming future supply, analysts note that developments in Dairy Farm typically absorb progressively over their sales period rather than relying on short-term rushes.

HDB Upgraders Provide Crucial Support, Underpinned by Steady Demand Pipeline

The launch timing of Narra Residences coincides nicely with a wave of HDB flats fulfilling their Minimum Occupation Period (MOP).

The project primarily attracts family-oriented owner-occupiers—including multi-generational households seeking a quieter living environment without compromising on MRT access and daily amenities.

HDB upgraders from Bukit Panjang, Bukit Batok, and Choa Chu Kang represent an important source of demand.

Data reveals that between 2024 and 2027, over 3,100 HDB flats across these estates will reach their MOP, establishing a substantial pool of prospective buyers for the development.

Likely the Only District 23 New Launch in 2026

Around 30% to 40% of buyers have HDB addresses, with the rest coming from private residential estates.

Narra Residences is very likely to be the sole OCR new launch in District 23 situated within a private residential enclave in 2026, a proposition that holds distinctive appeal for owner-occupiers.