Two significant residential developments in Singapore’s property market achieved record-breaking sales momentum during their October 2025 launch weekend: Penrith, a 462-unit condominium in Queenstown developed jointly by Hong Leong Holdings, Hong Realty, and GuocoLand, sold 447 units representing 97% of inventory at an average price of approximately S$2,800 per square foot.
Penrith’s October 2025 launch achieved 97% sell-through, establishing record-breaking sales momentum in Singapore’s residential market.
Meanwhile, Faber Residence, a 399-unit project in Clementi‘s Outside Central Region, achieved 86% sell-through with 344 units transacted at an average of S$2,160 per square foot. Collectively, these developments demonstrated the strongest sales performance among 2025 new launches and signaling robust buyer appetite following an eight-year supply drought in both precincts.
Penrith’s two 40-storey towers encompass 102,497 square feet of residential space on a 99-year leasehold tenure. The development features English heritage-inspired design blended with contemporary amenities, including English-inspired gardens and premium communal facilities.
Unit pricing at Penrith commences at S$1.495 million for two-bedroom configurations at S$2,437 per square foot. Three-bedroom units start at S$1.973 million, and four-bedroom residences at S$3.078 million. This provides diverse options across market segments.
Positioned within sheltered walking distance to Queenstown MRT station on the East-West Line and adjacent to established retail anchors including IKEA Alexandra and Queensway Shopping Centre, the development benefits from convenient accessibility. It also has proximity to Kent Ridge and Alexandra Canal Linear parks.
Faber Residence’s strategic positioning in Clementi near MRT infrastructure, established educational institutions, and retail amenities addresses accumulated demand in an area experiencing minimal new supply over the preceding eight years. The marketing strategy positioning units below $2.5 million has proven particularly effective in attracting HDB upgraders seeking affordable entry points into private residential ownership. The appeal to HDB upgraders aligns with continuing strong resale demand, as HDB resale prices increased by 1.5% in Q1 2025 despite an overall market cooldown.
The launch weekend performance reflects broader market dynamics characterized by multi-year low borrowing rates since 2023 that have stimulated investor participation, alongside competitive acquisition pricing achieved during the slow 2024 bidding season.
Industry commentary attributes the exceptional results to pent-up demand accumulation rather than speculative activity. Development leaders and real estate professionals emphasize market fundamentals supporting sustained demand.
The dual launch results position both projects among the strongest performers in the 2025 calendar. They have surpassed 90% take-up benchmarks and established comparative pricing differentials between city-fringe locations commanding elevated per-square-foot values relative to Outside Central Region developments.
Government consideration of increased land supply through the 2026 Government Land Sales program suggests regulatory acknowledgment of rapid market absorption and sustained demand pressure across multiple residential precincts.
