Bloomsbury Residences, a new development in Media Circle, has sold approximately 25% of its 358 units during its launch weekend, despite a backdrop of global economic uncertainty. The project, which is the first private condominium in the Media Circle area, attracted buyers with its strategic location and competitive pricing.
The launch comes after a turbulent week marked by the “2025 Stock Market Crash” and ongoing global trade tensions. Despite these challenges, the development managed to sell around 90 units, primarily two-bedroom flats, at an average price of S$2,474 per square foot. The pricing strategy, with units starting at S$1.37m for two-bedroom flats, appears to have resonated with buyers.
Ismail Gafoor, CEO of PropNex Realty, noted that the take-up rate is encouraging given the current market sentiment. “The units at this project are priced sensitively and largely within the pricing sweet spot of below S$2.5m, a manageable quantum for most homebuyers,” he said.
The location of Bloomsbury Residences is a significant draw, offering easy access to Rochester Mall, The Star Vista, and key MRT stations. The proximity to schools also makes it appealing to families, whilst investors are attracted by potential leasing opportunities to expatriates in nearby research and development precincts.
The last project in the vicinity, The Hill @ One-North, saw a 44% take-up rate, indicating a steady demand in the area. As the Media Circle neighbourhood develops further, interest in Bloomsbury Residences is expected to grow, particularly as market conditions stabilise.
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