Narra Residences, located in the Bukit Timah-Dairy Farm precinct, sold nearly a quarter of its 544 units over its Jan 31-Feb 1 launch weekend at an average price of around $2,180. The 135 units sold includes all four of the development’s retail units.
As at 4pm on Feb 1, two- and three-bedroom units accounted for around 90% of transactions, while all one-bedroom units were fully taken up, according to developers Santarli Realty and Apex Asia (alongside partner groups).
Transacted prices started from $998,000 for one-bedroom units, from $1.176 million for two-bedroom units and from $1.630 million for three-bedroom units.
In addition, four of Narra Residences’ 61 four-bedroom units were sold, with prices starting from $2.596 million.
Buyers were predominantly local, according to the developers, with Singaporeans accounting for about 90% of purchasers, while Singapore Permanent Residents make up the remaining 10%.
Narra Residences is the first residential development in District 23 planned under the gross floor area (GFA) Harmonisation framework. The project offers configurations ranging from one-bedroom units with study to five-bedroom residences with private lift access, catering to singles, couples and families.
See also: Narra Residences draws over 3,500 visitors on opening preview weekend
The development features residential blocks ranging from six to 16 storeys, with a North-South orientation and a terraced architectural profile designed to optimise views, natural ventilation and daylighting.
Approximately 66% of the site area is dedicated to landscaped greenery, complemented by inter-block distances of up to 63m, and the project is surrounded by more than 2,000ha of nature reserves.
Narra Residences is located near Hillview MRT Station and major expressways. Daily amenities are within easy reach, with Dairy Farm Mall directly across the road, integrated commercial shops within the development, and proximity to schools including CHIJ Our Lady Queen of Peace, Bukit Panjang Primary School, German European School Singapore and The Perse School.
Kelvin Fong, CEO of PropNex, says the sales pace at Narra Residences is consistent with broader patterns in the Dairy Farm area, “where projects typically experience a measured start before demand builds progressively”.
“The 460-unit Dairy Farm Residences reportedly sold 35 units during its launch weekend in November 2019; The Botany at Dairy Farm shifted 187 of its 386 units at launch in March 2023; while nearby Hillhaven sold 59 of its 341 units when it entered the market in January 2024,” says Fong in a statement. “Based on URA Realis caveat data, Dairy Farm Residences is fully sold.”
This is probably the only Outside Central Region (OCR) project in a private residential enclave and the only launch in District 23 this year, says Mark Yip, CEO of Huttons Asia.
“Narra Residences is launching into a market where new private residential supply in low-density, nature-adjacent enclaves remains limited,” says Marcus Chu, CEO of ERA Singapore.
The neighbouring site at Dairy Farm Walk, whose tender closed on Jan 22, attracted robust developer interest, underscoring confidence in the location, adds Chu.
The parcel drew five bidders, with the top bid submitted by a consortium comprising ABR Holdings, LWH Holdings, Macly Capital and RP Ventures at $427 million, or $962 psf per plot ratio (ppr).
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