Zyon Grand, a new residential project in Zion Road, Singapore, experienced a successful launch this weekend, selling 590 out of its 706 units. This impressive 84% sales rate underscores the continued confidence in Singapore’s private residential market. Kelvin Fong, CEO of PropNex, noted that this success aligns with the trend of recent launches, such as Parktown Residences and Springleaf Residence, which also saw significant sales.
The development is the first to feature Long-Stay Serviced Apartments, a new category introduced by the government to address rental housing demand. Larger units were particularly popular, reflecting strong end-user interest, with most buyers being Singaporeans. This suggests a resilient local demand, supported by the project’s family-oriented design.
Zyon Grand’s prime location, with direct access to Havelock MRT station, enhances its appeal. The development offers convenient travel to key areas like Shenton Way and Orchard Road, and is close to popular spots along the Singapore River. Additionally, the presence of several schools nearby makes it attractive to families.
The project’s pricing strategy also played a role in its success, with two-bedroom units starting at $1.468m and three-bedroom units at around $2.2m. This competitive pricing, coupled with easing interest rates, has made purchasing more affordable. The 3-month compounded SORA rate is at its lowest in over three years, further boosting buyer confidence.
