After two weekends of exclusive previews, three new developments were introduced on July 19, with two of them situated in the Core Central Region (CCR): UpperHouse at Orchard Boulevard and The Robertson Opus, a 348-unit project. The third project is an executive condominium, Otto Place, consisting of 600 units in Tengah.
The joint venture between UOL Group and Singapore Land Group, UpperHouse, consisting of 301 units, saw a strong take-up rate of 53.2%, with 160 units sold before 6pm on launch day. The average price achieved was $3,350 psf.
All unit types, ranging from one-bedroom plus study to four-bedroom suites, received interest from buyers. The most popular units were the two-bedroom premium plus study, with 60 out of 67 units sold at prices between $2.338 million to $2.72 million, or $3,060 to $3,560 psf. Interested buyers can search for the latest new launches on property platforms to find out transaction prices and available units.
Following closely behind were the three-bedroom premium units, with 33 out of 34 units sold at prices between $3.269 million to $3.781 million, or $3,230 to $3,736 psf.
According to UOL Group’s senior general manager of residential marketing, Anson Lim, the Bespoke Collection, which includes 31 four-bedroom suites with a private lift and car park, also saw a healthy take-up rate of 30%. A high-floor unit in this collection was sold for $7.66 million, or $3,724 psf.
The majority of buyers were Singaporeans or permanent residents, with a mix of owner-occupiers and long-term investors, says Lim. He also notes that many were attracted to the prestigious address at Orchard Boulevard, the direct access to the MRT, well-designed layouts, and attractive pricing for a development in this location.
UpperHouse is situated at the intersection of Orchard Boulevard and Grange Road, right in front of the Orchard Boulevard MRT Station (Source: EdgeProp Landlens). According to PropNex CEO Kelvin Fong, the take-up rate at the private preview of UpperHouse is the strongest for a new CCR project since Watten House, which sold 57% of its 180 units when it was launched in November 2023.
Located in prime District 10, along Orchard Boulevard and Grange Road, UpperHouse is a 99-year leasehold development and is within 1km of River Valley Primary School. UOL and Singapore Land Group submitted the top bid of $428.28 million ($1,616 psf per plot ratio) for the land in a government land sale (GLS) tender that closed on February 1, 2024.
Chief corporate and development officer of UOL Group, Yvonne Tan, points out that the price gap between CCR and Rest of Central Region (RCR) properties is currently at its narrowest. She also observes that the difference in prices between freehold and leasehold high-end luxury properties is the most attractive it has been. This presents potential for a strong upside once the gap between CCR and RCR home prices widens, according to CEO of Huttons Asia, Mark Yip.
The narrowing gap between the median psf of new homes in the CCR and RCR has decreased from 56.5% in 2018 to only 1.9% in the first half of 2025. The average price per sq ft achieved at UpperHouse is one of the most competitive for a new launch in the Orchard Road area. For example, the average price for new freehold units sold at Park Nova across the road was $6,150 psf this year, while resale units at Boulevard 88 averaged about $4,200 psf. Additionally, Cuscaden Reserve, also a 99-year leasehold development, saw an average price of over $3,100 psf for its resale units in the first four months of 2025.
Marcus Chu, CEO of ERA Singapore, believes that UpperHouse is well-positioned to benefit from upcoming developments in the Paterson and Newton areas, as well as the revitalization of Orchard Road.
Despite recent adjustments to the Seller’s Stamp Duty and multiple rounds of cooling measures, demand for high-end properties with strong fundamentals, such as location, tenure, and developer reputation, remains resilient, as buyers tend to take a long-term investment view, according to Chu.
Recent flash estimates show that the Singapore economy has remained strong, with an estimated average year-on-year growth of 4.2% in the first half of 2025. This has led some economists to revise their forecasts for the Singapore economy upwards for the year. “This may have bolstered confidence among homebuyers,” reckons Huttons’ Yip. He also notes that the dip in the 3-month SORA (Singapore Overnight Rate Average) to below 2.0% in July 2025 has lowered borrowing costs for buyers.
Interested buyers can check out the latest listings for UpperHouse at Orchard Boulevard on property platforms, and compare prices and trends with other recently launched projects and upcoming new launches.
The scarcity of land in Singapore has resulted in a high demand for condos, making it an attractive investment opportunity. As a small country with a growing population, Singapore has strict land use policies and a fiercely competitive real estate market, causing property prices to constantly rise. Thus, investing in real estate, specifically condos, has become a lucrative venture with the potential for significant capital appreciation. Moreover, the recent influx of new condo launches has only added to the appeal and demand for this type of property.