Newport Residences, a new mixed-use development in Anson Road, has reported impressive sales figures during its launch weekend, selling 140 out of 246 residential units, which equates to a 57% take-up rate. The project, priced at an average of $3,370 per square foot, marks the first new launch in the Core Central Region (CCR) for 2026, continuing the strong momentum from 2025.
The development’s sales performance stands out in District 2, surpassing previous projects such as One Bernam, which had a 23% take-up rate in May 2021, and Sky Everton, which achieved 40% in June 2019. Both of these projects have since sold out.
Kelvin Fong, CEO of PropNex, attributes the success of Newport Residences to its prime location, competitive pricing, and freehold land tenure. He noted that new freehold projects in the central business district are rare, with the last being Sky Everton in 2019. The development’s proximity to Tanjong Pagar MRT station and the upcoming Prince Edward Road MRT station enhances its appeal.
The urban transformation in the Tanjong Pagar area, including new Circle Line stations and the Greater Southern Waterfront precinct, is expected to boost the area’s vibrancy and offer potential future upside.
The strong sales at Newport Residences suggest robust demand for well-located CCR properties, with 2025 seeing a four-year high in new private home sales in the region. PropNex anticipates that the factors driving CCR sales will continue into 2026, supporting future launches in prime districts.
