Far East Organization’s The Serra Residences sells less than a quarter of units released at average S$3,460 psf

The Far East Organization's prime District 11 condominium project, The Serra Residences, sold approximately 22% of the 113 units released in the first phase of the 133-unit freehold development during its weekend launch. A total of 25 units were sold, with prices ranging from S$3,123 to S$4,200 per square foot (psf) and an average of about S$3,460 psf.

The buyers were largely Singaporeans, constituting 75% of the demand, while the rest were Singapore permanent residents from various countries. The units on sale covered different layouts, with prices starting at S$2.2 million and ranging up to S$4.2 million. The developer emphasized the freehold status and the unique combination of a small community of 133 homes with full condominium facilities as the main attractions for buyers.

The Serra Residences is situated in the HealthCity Novena cluster, near Tan Tock Seng Hospital and other medical centers, and within close proximity to several renowned schools. Analysts and real estate executives believe that the take-up of the project reflects a more targeted buyer pool, as the project's price quantum and freehold status appeal to buyers seeking larger homes and long-term asset retention.