The highly successful launch of The Orie kicked off this year with a bang. During its launch weekend in January, the 99-year leasehold condo achieved a strong take-up rate of 86%. At the time of writing, 683 sale caveats for the 777-unit development have been lodged with URA, pushing the take-up rate up to 87.9%.
The Orie’s take-up rate of 86% during its launch weekend was surpassed only by the take-up rate of 87% achieved by PARKTOWN Residence when it was launched last month. Bagnall Haus and Elta achieved take-up rates of 63% and 65%, respectively, during their launch weekends this year.
In this article, we examine The Orie and discuss possible reasons for its popularity among buyers.
Excellent location
Located along Lorong 1 Toa Payoh in District 12, The Orie is in the well-established residential enclave of Toa Payoh. The mature estate is popular with buyers for its wide variety of amenities as well as its proximity to the city centre.
Toa Payoh Palm Spring Market, Lorong 8 Toa Payoh Market and Hawker Centre, and Braddell MRT Station are within walking distance of The Orie. Additionally, HDB Hub, Toa Payoh Bus Interchange, and Toa Payoh town centre are near Toa Payoh MRT Station, which is only one stop away.
Braddell MRT Station is also three stops from the dual-line Newton MRT Station, four stops from the dual-line Orchard MRT Station, and six stops from the triple-line Dhoby Ghaut MRT Station. Hence, future residents of The Orie will have easy access to the North-South, Downtown, Thomson-East Coast, Circle, and North-East Lines. Future residents who work in the CBD will be pleased to know that the dual-line Raffles Place MRT Station is eight stops away. The Pan-Island and Central Expressways are also a short drive away.
There are numerous schools within a 1km radius, including Pei Chun Public School, Kheng Cheng School, First Toa Payoh Primary School, Raffles Girls’ School (Secondary), Guangyang Secondary School, Beatty Secondary School, and Raffles Institution (Secondary and Junior College) (see Map 1).
Source: EdgeProp LandLens (as at 27 February 2025)
Toa Payoh is set to undergo rejuvenation with the upcoming Toa Payoh Integrated Development. Located between Lorong 6 Toa Payoh and the Pan Island Expressway, the development will feature a 10,000-seat stadium, a 5,000-seat indoor hall with 22 badminton courts, and a 2,000-seat aquatics centre with four indoor pools and three outdoor pools. Expected to be completed by 2030, it will also house Toa Payoh Polyclinic, a public library, and various community and recreational facilities.
Two-bedroom and three-bedroom units enjoy brisk sales
Two-bedroom units (39.8%) make up the largest number of units among the different flat types in The Orie, followed by three-bedroom units (25%) (see Table 1). Combined, the two-bedroom and three-bedroom units account for 505 units, or 64.8% of the condo’s total units.
Among the different unit types, the two-bedroom units performed the best, with only one unsold unit at the time of writing (see Table 2).
The three-bedroom units performed well too. With the exception of the dual-key units, all three-bedroom units were sold. Based on caveats lodged with URA, 18 dual-key units were still available at the time of writing.
Dual-key units are popular among owner-occupiers with an eye toward investment because the entire unit can be easily converted into two separate dwellings, allowing the owner to live in one part of the unit while renting out the second part. Alternatively, a multi-generational family could purchase a dual-key unit and use the smaller dwelling as a granny flat or a bachelor pad for their unmarried adult child.
Furthermore, the entire unit has only one strata title, so it is considered a single property. Hence, Singaporean buyers do not have to fork out any additional buyer’s stamp duty (ABSD) if it is their only residential property. The prevailing ABSD rate for Singaporeans buying their second residential property is 20%. The rate increases to 30% for Singaporeans buying their third or subsequent residential property.
The dual-key units in The Orie measure 1,130 sq ft. Each unit comprises a studio and a two-bedroom unit. Each dwelling has a separate entrance and kitchen, but both share a common foyer (see Floor Plan 1).
Source: EdgeProp Research
Despite the investment opportunity and benefits presented by dual-key units, some buyers may hesitate to purchase one because they may be uncomfortable with tenants living in such close proximity to them.
Another reason could be the higher total price of dual-key units compared to other three-bedroom units due to their larger size. Based on transactions concluded at the time of writing, the average price for the 1,130-sq ft dual-key units in The Orie is $2.866 million, while the next-largest three-bedroom units (1,044 sq ft) transacted at an average price of $2.806 million (see Table 3). Meanwhile, the smallest three-bedroom units (850 sq ft) transacted at an average price of $2.343 million. This is despite the dual-key units having the lowest price on a per square foot basis.
Meanwhile, the one-bedroom-plus-study units had the lowest take-up rate of 62.8%, with 29 unsold units. The lower take-up rate for the smaller units could be due to buyers’ preference for larger units that are more suitable for bigger households. The condo’s location tends to attract families rather than singles, so it is inevitable that the larger units in The Orie will be snapped up before their smaller counterparts.
Potential traffic noise could impact sales
There are only two stacks of five-bedroom units in The Orie, namely Stacks 2 and 12 (see Table 1). Interestingly, both stacks achieved very different take-up rates. Stack 2 achieved a take-up rate of 89.5%, while Stack 12 had a significantly lower take-up rate of 51.3%. This is despite the 34 units in Stack 2 ($2,584 psf) transacting at a higher average price compared to the 21 units in Stack 12 ($2,579 psf).
Additionally, the units in both stacks share the same size and layout. The 1,453-sq ft units comprise an en-suite master bedroom and an en-suite junior master bedroom, while the remaining three bedrooms share a common bathroom (see Floor Plan 2). The units also feature a private lift, wet and dry kitchens, and a sizable balcony accessible via the living area. In the wet kitchen, there is a yard, a washroom, and a household shelter that can be used as a storeroom or a helper’s room.
Source: EdgeProp Research
The different take-up rates could be attributed to the close proximity of Stack 12 to Lorong 4 Toa Payoh (see Map 2). Prospective buyers might be concerned about traffic noise and dust from the road. Meanwhile, Stack 2 does not face any roads and will be separated from the nearest HDB blocks by landscaping. Furthermore, Stack 2 is located closer to a side gate that leads to Braddell MRT Station.
Additionally, Stack 12 faces Club Orie, which houses the Grand Function Room, a gym, and the Viewing Deck. This could result in more activity and noise. Buyers who prefer a quieter living environment are likely to avoid stacks near such facilities.
Privacy matters
There are only two stacks of four-bedroom units that measure 1,216 sq ft, namely Stacks 8 and 17. While there is only one unsold unit in Stack 17, there are five available units in Stack 8 (see Table 2). This is despite the units in Stack 17 ($2,650 psf) transacting at a higher average price than those in Stack 8 ($2,635 psf).
Additionally, the units in both stacks have similar layouts that are mirror images of each other. The units in Stack 8 feature an en-suite master bedroom, another three bedrooms, and a common bathroom (see Floor Plan 3). The units also feature a yard, a washroom, and a household shelter in the kitchen.
Source: EdgeProp Research
The key difference in layout for both stacks is the reinforced concrete (RC) ledge that spans the width of each unit in Stack 17. The RC ledge, which runs from the master bedroom or Bedroom 2 to the balcony, could obstruct the views of those residing in the unit (see Floor Plan 4). However, this does not seem to have affected the demand for units in Stack 17.
Residents of the units in Stack 17 can expect to have views of greenery, the Dragon Playland, and the Water Play Pool. Arguably, those residing in units in Stack 8 have better views because the stack faces the 50m Lap Pool and the Grand Lawn (see Map 2).
Source: EdgeProp Research
Both stacks are near different side gates that provide convenient access to various amenities. Stack 8 is closer to the side gate that leads to Braddell MRT Station, while Stack 17 is nearer to another side gate that opens out to Lorong 4 Toa Payoh and Toa Payoh Palm Spring Market.
The weaker demand for Stack 8 could be also due to its proximity to the Arrival Court and Grand Lobby, which are expected to generate more human and vehicular traffic. Buyers who value their privacy might have opted for Stack 17 so that they are further from the main entrance of The Orie.
Limited number of completed condos nearby
There are only four condos with approximately 2,400 units within a 1km radius of The Orie. The lack of competing nearby condos could have boosted demand for The Orie. Additionally, The Orie is the first condo to be launched in Toa Payoh in the past eight years.
Having obtained its temporary occupation permit (TOP) in 1981, the 918-unit Braddell View, located along Braddell Hill, is the oldest among the four nearby condos. Braddell View is also the only condo with a tenure of 102 years. Gem Residences (Lorong 5 Toa Payoh), Trevista (Lorong 3 Toa Payoh), and Oleander Towers (Lorong 1 Toa Payoh) have tenures of 99 years.
Among the three 99-year leasehold condos, the 578-unit Gem Residences (TOP in 2019) is the youngest, followed by the 590-unit Trevista (TOP in 2011) and the 318-unit Oleander Towers (TOP in 1997) (see Map 3).
Source: EdgeProp LandLens (as at 27 February 2025)
Prices for The Orie affected by GFA harmonisation rules
The average resale price for 99-year leasehold condos is the highest for those in the Central Region ($2,038 psf), followed by those in District 12 ($1,736 psf) and islandwide ($1,698 psf) (see Chart 1). However, price growth since 2020 has been the slowest for leasehold condos in the Central Region (20.3%) compared to their counterparts in District 12 (25.2%) and islandwide (36.1%).
Source: EdgeProp Market Trends (as at 5 March 2025)
There is a marginal difference in the average resale prices for Gem Residences ($1,902 psf) and Trevista ($1,897 psf) compared to Oleander Towers ($1,446 psf) (see Chart 2). This could be because Gem Residences (TOP in 2019) is only eight years younger than Trevista (TOP in 2011) but is 22 years younger than Oleander Towers (TOP in 1997).
However, Gem Residences (11.2%) recorded the weakest price growth since 2020 compared to Trevista (36.7%) and Oleander Towers (30.4%).
Source: EdgeProp Market Trends (as at 5 March 2025)
The significantly weaker price growth for Gem Residences could be because there was limited room for its resale prices to grow. Gem Residences was launched in 2016 and achieved an average price of $1,427 psf that year (see Chart 3), which was higher than the average resale prices of Trevista ($1,318 psf), Oleander Towers ($1,084 psf), and 99-year leasehold condos in District 12 ($1,201 psf) in the same year.
Source: EdgeProp Market Trends (as at 5 March 2025)
Based on the 683 caveats lodged with URA at the time of writing, the average price for The Orie currently stands at $2,705 psf, which is higher than the prevailing average prices for Gem Residences, Trevista, and Oleander Towers, as well as those for District 12, the Central Region, and islandwide.
The Orie is a post-harmonisation project, which means that spaces such as aircon ledges are excluded from its saleable gross floor area (GFA). Hence, the GFA of each unit in a post-harmonisation condo tends to be smaller than those in pre-harmonisation condos. This could result in a higher price on a per square foot basis for post-harmonisation projects. However, this also means that the GFA for each unit is a more accurate reflection of the actual liveable space, and buyers are only paying for such space.
Conclusion
Demand for residential properties is heavily dependent on their location. The Orie benefited from its location within a popular and mature residential enclave. Additionally, the condo is surrounded by amenities such as an MRT station and reputable schools. Future residents of The Orie is expected to benefit from the additional amenities from the upcoming Toa Payoh Integrated Development. The lack of nearby condos further boosted its demand.
Our analysis of the sales transactions for The Orie revealed that larger units have higher take-up rates. This could be because Toa Payoh is a family-friendly neighbourhood, resulting in stronger demand from families. Additionally, our analysis also revealed that the buyers prefer units further from roads and the condo’s main entrance.
Lastly, The Orie is a post-harmonisation project, which resulted in a higher per square foot price for the units in the condo. However, the GFA for each unit is a more accurate reflection of the liveable area.
