Private Home Market Sees Fresh Surge: Three New Launches Score Strong Debut Weekend Sales as Buyer Confidence Returns

Strong Launch Performance for Three New Condominiums as River Green Sells 88% Over Launch Weekend

Singapore’s private residential market maintained its buoyant momentum over the first weekend of August. Three new launches—River Green, Promenade Peak, and Canberra Crescent Residences—clocked take-up rates of 88%, 54%, and 40% respectively during their launch weekends. This demonstrates resilient demand across both the Core Central Region (CCR) and Outside Central Region (OCR), spanning luxury to mass-market segments.

Located along River Valley Green, River Green is a 99-year leasehold development by Wing Tai Holdings. Comprising 524 units across a 36-storey tower, the project offers a diverse mix of one- to four-bedroom layouts and features direct, sheltered access to Great World MRT station. Over its launch weekend, 460 units were snapped up in just two days at an average price of $3,130 psf, with Singapore Citizens and Permanent Residents making up approximately 98% of buyers. Analysts noted that the developer's strategic sizing of units helped keep quantum prices manageable, allowing more middle-class buyers to enter the prime CCR market—a key driver behind its stellar sales performance.

Promenade Peak, situated along Zion Road and developed by Allgreen Properties, stands at 63 storeys with 596 units. The development is divided into two tiers: the Promenade Collection (527 to 1,076 sq ft, averaging $2,894 psf) and the Promenade Suites (1,163 to 1,884 sq ft, averaging $3,343 psf). The highest transacted price to date reached $3,521 psf. Over the launch weekend, 320 units were sold, representing 54% of the total units, with Singapore Citizens accounting for 90% of buyers.

Meanwhile, Canberra Crescent Residences, jointly developed by Kheng Leong and Low Keng Huat along Canberra Crescent, features four 12-storey residential blocks housing a total of 376 units ranging from one- to four-bedroom configurations. At an average selling price of $1,974 psf, 150 units (40% of the project) were moved over its initial weekend. Positioned at a competitive price point among this year’s OCR launches, the project drew strong interest from first-time homebuyers and HDB upgraders.

These robust sales figures indicate that underlying market demand remains solid, with owner-occupiers continuing to step forward despite macroeconomic uncertainties. Even with the holding period for the Seller’s Stamp Duty (SSD) extended to four years, buyer interest continues to be underpinned by long-term capital preservation and residential needs rather than short-term speculation.

Analysts believe that the strong buying appetite across varying market segments and price tiers not only underscores enduring confidence in Singapore's private housing market, but also highlights developers' agile strategies in product positioning and pricing.