Narra Residences, a new development in district 23, successfully sold 128 units during its launch weekend. Huttons Asia CEO Mark Yip noted that the project, which is situated in a private residential enclave, offers a tranquil environment with proximity to nature, attracting buyers with its accessible entry price starting at $1,930 per square foot (psf). This price point is notably lower than the average selling price of $2,264 psf for projects in the Outside Central Region (OCR).
The launch saw a diverse range of unit types being snapped up, with 30% to 40% of buyers coming from Housing Development Board (HDB) addresses, whilst the remainder hailed from private residential addresses. Investors showed particular interest in the one-bedroom and two-bedroom units, aiming to meet tenant demand from nearby educational institutions such as the German European International School and The Perse School.
Owner-occupiers, especially those with compact family units, also favoured the two-bedroom options. Meanwhile, families were drawn to the three-bedroom units due to the development’s proximity to several reputable schools, including CHIJ Our Lady Queen of Peace, Bukit Panjang Primary School, The Perse School (Singapore), and GESS International School.
The successful launch of Narra Residences highlights the continued demand for well-located residential projects in Singapore’s OCR, particularly those offering competitive pricing and access to educational facilities.
