Analysts say scarcity and first-mover advantage drives 56% take-up of Dunearn House

There was also a significant presence of young buyers.

Property analysts pointed to scarcity of supply and the first-mover advantage of entering Singapore's newest residential precinct as the primary forces behind Dunearn House's opening weekend performance, after the Bukit Timah Turf City development sold 212 of its 380 units at an average price of $3,140 per square foot.

Justin Quek, deputy group chief executive of Realion, said the absence of alternative options in the precinct was the sharpest driver of buyer urgency. With only one adjacent parcel awarded in May 2026 and no other Government Land Sales sites announced for the area, buyers moved knowing the next comparable launch could be years away.

“A notable observation at the launch was the significant presence of young buyers accompanied by their parents. This highlights that parental support was a key factor in securing these units and played a major role in driving the rapid sales of the project's two-bedroom + Study and three-bedroom units,” Quek said.

Kelvin Fong, chief executive of PropNex, described the 56% take-up as healthy rather than exceptional, framing it as reflective of resilient demand for well-located Core Central Region (CCR) projects with long-term growth potential.

Fong said rising Government Land Sales land costs had added urgency to purchase decisions.

Recent CCR sites have seen land rates climb beyond $1,600 per square foot per plot ratio, with some crossing $1,800, making current pricing look relatively attractive against what future launches may cost.

“We also believe pent-up demand for new private homes in the area supported sales at this weekend’s launch, given that the last major condominium launches in the immediate vicinity were Fourth Avenue Residences and Royalgreen in 2019,” Fong said.

Mark Yip, chief executive of Huttons Asia, said many buyers had a personal connection to the location, having grown up or studied in Bukit Timah, and viewed the Turf City transformation as the most significant change to the area in many years.

Yip noted that Dunearn House's CCR pricing was only around 5% above some newer resale projects in the Rest of Central Region that have already crossed $3,000 per square foot in 2026, making the value case compelling for buyers weighing options across regions. He estimated around 79% of units sold were priced at around $3.m, which he described as the sweet spot for CCR homes in 2026.

“Families likely made up the majority of buyers, with around 60% of the units sold being the 3- and 4-bedroom unit types. All the 3-bedroom and 3-bedroom flexi units were sold whilst the 3-bedroom + study and 4-bedroom units are left with a handful of units. The other 3- and 4-bedroom variants saw good interest as well,” Yip said.

Three-bedroom and three-bedroom flexi units sold out entirely over the weekend, whilst four-bedroom configurations saw 89% of units sold and the two-bedroom-plus-study format moved 43 units at a 73% take-up rate.

Some 86% of buyers were Singaporeans, 13% were permanent residents, and 1% were foreigners. Prices start from $1.47m for a two-bedroom unit, $2.597mfor a three-bedroom unit and $3.588m for a four-bedroom unit.

The Bukit Timah Turf City precinct is slated to eventually accommodate 15,000 to 20,000 public and private homes, with the upcoming Turf City MRT station on the Cross Island Line set to complement the existing Sixth Avenue MRT station on the Downtown Line.

PropNex's Fong said he expected the broader new home sales market to slow during the Hungry Ghost Month beginning in mid-August before picking up again from mid-September, when several new launches are expected to enter the market.