Thomson Reserve sells 90% of units at average of $2,900 psf over launch weekend
The majority of buyers are Singaporeans purchasing for their own stay and investment.
Thomson Reserve, a condominium project, sold 1,143 out of 1,268 units, which amounts to around 90%, during its launch weekend. The average selling price for the units was $2,900 per square foot. According to developers UOL Group and CapitaLand Development, the majority of the buyers were Singaporeans who were purchasing for either personal use or investment purposes. Over two weekends of public preview, a total of 32,000 visitors attended the event.
The developers highlighted that the strong demand for the units across various types indicated the project's broad appeal and the value of well-connected homes in a prestigious neighborhood. The project is situated near prestigious schools, nature parks, and the Upper Thomson dining area.
PropNex CEO Kelvin Fong noted that Thomson Reserve achieved the highest number of units sold over a launch weekend among projects launched in 2026, surpassing the 853 units sold during the launch of Tengah Garden Residences in April. Fong suggested that buyers were likely drawn to the relatively affordable price point of the units, with prices starting at $1.5 million for two-bedroom units and $2.5 million for three-bedroom units.
According to Nicholas Mak, the chief research officer at Mogul.sg, Thomson Reserve's strong performance has "reversed the trend" of declining take-up rates at residential launches. In September, Amberwood at Holland only moved 23 units, or 32.9% of the 70 units available during its launch weekend. Mak pointed out that while housing demand remains robust, homebuyers are becoming more selective.
He emphasized that proximity to a MRT station and a retail mall are now key factors influencing the demand for residential projects, even in central regions. Thomson Reserve is located near the Upper Thomson MRT station on the Thomson-East Coast Line.
Fong agreed with Mak, stating that buyers have moved quickly for projects in established neighborhoods near MRT stations that also offer a diverse range of units at reasonable prices. He expects that new launches in 2027 with these attributes should also attract willing buyers.
Written by urgent.news from Straits Times Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- Thomson Reserve sells 90% of units at average of S$2,900 psf over launch weekend businesstimes.com.sg
