Private Home Market Slows — How Did New Launches Perform Over the Weekend?

Two new private residential projects launched over the past weekend saw modest performances. The Hill @ One-North sold about 30% of its units, while The Hillshore moved at least two units.

Kingsford Development, the developer of The Hill @ One-North, stated in a press release that the project sold 43 units during its launch weekend at an average selling price of $2,595 per square foot (psf). This is believed to be the highest average psf price among recently launched private residential projects in the one-north precinct.

Located along Slim Barracks Rise, The Hill @ One-North comprises 142 units. The transacted units were predominantly two-bedroom, two-bedroom plus study, three-bedroom, and three-bedroom plus study layouts. Singapore citizens accounted for 86% of the buyers, with the remaining 14% being Permanent Residents and foreigners.

The 99-year leasehold project is slated to obtain its Temporary Occupation Permit (TOP) in 2026.

Amid cautious market sentiment, the project still posted respectable sales results. Its performance was comparable to—and in some cases better than—other mid-sized developments launched earlier this year.

Moving forward, the project could offer healthy rental yields for homeowners. Two-bedroom condominiums within the one-north area command an average monthly rent of around $5,500, outperforming the $4,300 average rent of apartments in the nearby Dover area.

The tight supply of private housing near Biopolis and Fusionpolis is also poised to support the future capital value of The Hill @ One-North.

Concurrently launched, The Hillshore sold two units last Saturday (20th) at an average price of $2,598 psf. Located in Pasir Panjang, the 59-unit freehold project is being developed by Hillside View Development, a subsidiary of FRX Capital.

Homebuyers unfamiliar with the locality may need more time to appreciate the development. However, it is expected to draw buyers looking for a tranquil living environment with close proximity to the Central Business District (CBD).

With its proximity to an MRT station and the upcoming Greater Southern Waterfront, buyers stand to benefit from the area's long-term transformation.