Summary

Developers sold 668 out of 777 units at The Orie, reaching about 86% with a mean price of $2,704 psf. The site is a joint effort by City Developments Ltd, Frasers Property, and Sekisui House in Toa Payoh.

For anyone eyeing a new home in a mature estate, The Orie’s popularity could be a signal of the robust demand in Toa Payoh. The area has seen few launches in recent years, so this project attracted substantial attention.

A consortium made up of City Developments Ltd, Frasers Property, and Sekisui House credits the robust launch results to the long wait for a new condo in this well-established area. Nine years have passed since the most recent unveiling, boosting interest now.

Location and Timeline

Set to complete in 2030, The Orie coincides with the planned opening of the Toa Payoh Integrated Development. Positioned only five minutes on foot from Braddell MRT, it offers quick access to daily conveniences and transport links.

Developer Perspectives

Sherman Kwek, group CEO of CDL, praised the “fantastic response” to The Orie, calling it a strong start to 2025. He mentioned that the design and location played a key role in drawing buyers.

Buyer Profile

The project attracted those eager to stay central. Chu notes that last year, 1,035 HDB resale flats sold for $1 million or more, with 14% of those sales in Toa Payoh, underscoring the estate’s popularity among property seekers.

Launch Demand and Sales Breakdown

Before the official launch, over 2,200 cheques were collected, implying an oversubscription of around 2.8 times. At the VIP preview on January 17, some 176 units were snapped up, including group purchases.

Smaller one-bedroom plus study options accounted for a substantial share of early takers, as Huttons indicates over half were sold. Their lower entry price put them on the radar for investment-focused purchasers.

Family-friendly two- and three-bedroom layouts were widely favored, with most snapped up quickly. Prices for two-bedders started at $1.48 million, and larger three-bedders hovered from around $2.09 million to a bit beyond $3 million.

Many families and extended households sought the dual-key and four-bedroom layouts. Dual-key flats cost between $2.75 million and $3.092 million, while the majority of four-bedroom homes, priced at $2.92 million to $3.452 million, were also snapped up.

More than half the four-bedroom premium plus study (1,367 sq ft) and close to 60% of the five-bedroom units (1,453 sq ft) were sold, priced from $3.28 million to $3.998 million. These larger units cater to multi-generation families or those wanting extra space.

Market Impact and Outlook

Ismail Gafoor, CEO of PropNex, notes that over the same weekend, Bagnall Haus and The Orie collectively sold about 740 new homes. This total surpasses the 304 private homes sold throughout January 2024.

Further launches in February and March could keep 1Q2025 home sales on pace. Gafoor attributes the buoyant sentiment to favorable conditions following US Fed rate cuts and the anticipation of fresh properties entering the market.

With The Orie’s success, Natarajan suggests that other developers might expedite their new projects to tap into positive market conditions. Still, he cautions that a surge in prices elevates the risk of policy measures.

Conclusion

Considering The Orie’s sales success, demand appears undeterred by current prices, especially for convenient, centrally situated homes. Upgraders, investors, and families see benefits in areas like Toa Payoh.


Emerald of Katong Unit Mix


Those seeking a property with close transport links and a trusted developer partnership may find The Orie’s success reassuring. Its quick sell-through underscores a thirst for new options in a well-loved district.