After two weekends of private previews, three new projects launched on July 19 — two of which are in the Core Central Region (CCR): UpperHouse at Orchard Boulevard and the 348-unit The Robertson Opus. The third is the executive condo, the 600-unit Otto Place in Tengah.
The 301-unit UpperHouse, jointly developed by UOL Group and Singapore Land Group, saw 160 units (53.2%) sold before 6pm on launch day. The average price achieved was $3,350 psf.
There was interest across all unit types, which range from one-bedroom plus study to four-bedroom suites. The most popular were the two-bedroom premium plus study units, with 60 out of 67 sold at prices ranging from $2.338 million to $2.72 million, or $3,060 to $3,560 psf.
The second most popular were the three-bedroom premium units, with 33 out of 34 sold at prices ranging from $3.269 million to $3.781 million, or $3,230 to $3,736 psf.
According to Anson Lim, UOL Group’s senior general manager of residential marketing, the Bespoke Collection — comprising 31 four-bedroom suites with private lift and private carpark — also saw a healthy 30% take-up. A high-floor unit in this collection sold for $7.66 million, or $3,724 psf.
Almost all buyers were Singaporeans or Permanent Residents, with a mix of owner-occupiers and long-term investors, Lim adds.
“Many were drawn to the Orchard Boulevard address, direct MRT access, efficient layouts and the attractive quantum for a development in this location,” he notes.
UpperHouse sits at the corner of Orchard Boulevard and Grange Road, right in front of the Orchard Boulevard MRT Station (Source: EdgeProp Landlens)
“The take-up rate at the private preview of UpperHouse at Orchard Boulevard is the strongest for a CCR new project, since Watten House sold 57% of its 180 units when it was launched in November 2023,” says Kelvin Fong, CEO of PropNex.
UpperHouse is located at the junction of Orchard Boulevard and Grange Road in prime District 10, directly in front of the Orchard Boulevard MRT Station on the Thomson-East Coast Line. It is also within 1km of River Valley Primary School.
UOL and SingLand submitted the top bid of $428.28 million ($1,616 psf per plot ratio) for the 99-year leasehold site in a government land sale (GLS) tender that closed on 1 February 2024.
According to Yvonne Tan, chief corporate and development officer at UOL Group, the price gap between the CCR and the Rest of Central Region (RCR) is currently at its narrowest. “The price differential between freehold and leasehold high-end luxury products is also at its most attractive,” she observes.
The gap between the median psf of new homes in the CCR and RCR has narrowed from a high of 56.5% in 2018 to a mere 1.9% in 1H2025, says Mark Yip, CEO of Huttons Asia. “There is potential for a strong upside once the gap between CCR and RCR home prices widens,” he adds.
The average per sq ft price done at UpperHouse at Orchard Boulevard is one of the most competitive prices for a new launch that is located near Orchard Road recently, says PropNex’s Fong. He points to the average price for new freehold units sold at Park Nova across the road, which reached a high of $6,150 psf this year, while the resale price at Boulevard 88 averaged about $4,200 psf. Meanwhile, Cuscaden Reserve, which is also 99-year leasehold, fetched an average price of more than $3,100 psf for the resale units transacted in the first four months of 2025.
“UpperHouse is well-positioned to benefit from the upcoming master plan developments in the Paterson and Newton areas, as well as the revitalisation of Orchard Road,” says Marcus Chu, CEO of ERA Singapore.
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 such buyers tend to take a long-term investment view,” Chu adds.
Recent flash estimates indicate that Singapore’s economy remained resilient, with an estimated average year-over-year (y-o-y) growth of 4.2% in 1H2025. It led some economists to revise their forecasts for the Singapore economy upward for 2025. “This may have bolstered confidence among homebuyers,” reckons Huttons’ Yip. “Furthermore, the 3-month SORA (Singapore Overnight Rate Average) has dipped below 2.0% in Jul 2025, lowering borrowing costs for buyers.”
