[The Reserve Residences] New Bukit Timah Project Draws Around 5,800 Visitors Over First Preview Weekend

The latest round of property cooling measures has failed to dampen house-hunting enthusiasm, as the sales gallery of The Reserve Residences—Bukit Timah's first integrated development—drew approximately 5,800 visitors during its preview weekend.

Located at Jalan Anak Bukit, the 99-year leasehold The Reserve Residences is jointly developed by Far East Organization and Hong Kong's Sino Group. The development opened for public previews by appointment on Saturday (13 May) and Sunday.

The Reserve Residences is the third new launch to debut following the implementation of the fresh cooling measures, after Blossoms by the Park and The Continuum.
Shaw Lay See, Chief Operating Officer of the Sales & Leasing Group at developer Far East Organization, told Lianhe Zaobao on Sunday that the sales gallery attracted around 5,800 visitors over its preview weekend, reflecting a very enthusiastic market response.

She analysed that as Bukit Timah's first integrated development, combined with fair market pricing, The Reserve Residences appeals to various profiles of prospective buyers—including owner-occupiers, young families, professionals, and investors—and is expected to find strong favour among Singapore Citizens and Permanent Residents.

The Reserve Residences comprises eight residential towers with a total of 732 residential units and around 160 serviced apartments. Prices start from $2,300 psf, with the official launch slated for 27 May. The project sits atop a retail mall (Bukit V) spanning over 20,000 square metres of gross floor area and is directly connected to Beauty World MRT station. It is expected to obtain its Temporary Occupation Permit (TOP) in the first quarter of 2028.

Late last month, the government announced hikes in the Additional Buyer's Stamp Duty (ABSD) to curb rising investment activity. Effective 27 April, the ABSD for residential property purchases was raised by three to 30 percentage points, with foreign buyers seeing the steepest increase, from 30% to 60%.
   

As The Reserve Residences primarily targets local buyers, it is not expected to be significantly affected by the new cooling measures, and he anticipates that more than 40% of the units will be sold on launch day. Given the project's prime location and the developer's sterling reputation, selling prices ranging between $2,300 and $2,600 psf can be considered exceptional value for money.

Blossoms by the Park in Buona Vista and The Continuum in Katong both posted commendable sales performances on their launch dates on 29 April and 6 May respectively, setting off a wave of buying momentum. Blossoms by the Park moved 198 units on its launch day, with eight acquired by foreigners, while The Continuum sold 26% of its units over its launch weekend, in line with expectations.
Over its debut weekend, the 275-unit Blossoms by the Park sold more than 200 units, or 75%, at an average price of $2,423 psf. Meanwhile, the 816-unit The Continuum moved over 200 units, or 26%, at an average of $2,732 psf. Four units at Blossoms by the Park were sold to foreign buyers willing to pay the 60% ABSD, while The Continuum did not draw any foreign purchasers.