[New Launch] Robust New Private Home Market: Two Major Projects Draw Nearly 15,000 Showflat Visitors

Singapore's private residential market has continued to gain momentum in recent years, with two newly launched developments drawing substantial crowds over their preview weekend—testament to resilient market demand.

Parktown Residence Draws Over 10,000 Visitors

Located in Tampines, mega integrated development Parktown Residence welcomed over 10,000 visitors during its preview from 7 to 9 February. The 99-year leasehold project comprises 1,193 units, offering a variety of layouts ranging from one-bedroom plus study to five-bedroom units, spanning 463 to 1,679 sq ft. Official sales bookings are slated to commence on 22 February, with prices starting from $1.07 million.

In a joint statement, developers UOL Group, its subsidiary Singapore Land Group, and CapitaLand Development highlighted that the enthusiastic response reflects buyers' keen recognition of the long-term value of this coveted residential enclave in Tampines. Strong interest was observed across the board, from young professionals and families to investors.

The project attracted not only HDB upgraders, but also Executive Condominium (EC) homeowners who have fulfilled their Minimum Occupation Period (MOP) and are looking to upgrade to larger homes. In addition, many first-time homebuyers have shown keen interest, including young purchasers planning to acquire their first property with financial support from their parents.

ELTA Attracts 4,500 Prospective Buyers Over Three Days

Alongside Parktown Residence, ELTA—jointly developed by MCL Land and CSC Land—also met with an enthusiastic market reception. Over its three-day preview, the project drew around 4,500 prospective buyers.

Also a 99-year leasehold project, ELTA comprises 501 units across two 39-storey towers, offering configurations from one-bedroom plus study to five-bedroom units, with sizes ranging from 506 to 1,776 sq ft. Indicative prices for the smallest one-bedroom plus study units start from $1.158 million, translating to $2,288 per sq ft (psf). The development is slated to commence sales bookings on 22 February.

Market analysts note that the strong turnout for both launches underscores resilient demand for quality homes. Appetite for new private homes remains upbeat among both owner-occupiers and investors, with projects in mature estates being particularly favoured.

As buying momentum continues, new home sales trends over the coming months will remain closely watched.