Pinery Residences hits 92.5% take-up in record Tampines launch

Integrated living, connectivity drove demand at Pinery Residences, analysts note.

Location, connectivity, and integrated living drove the high buyer interest in Pinery Residences, property consultants said.

The project’s 92.5% take-up rate makes it the best-performing integrated development by percentage in Tampines, said Mark Yip, CEO of Huttons Asia.

He noted that this follows the launch of executive condominium (EC) Rivelle Tampines, which recorded a similar take-up rate a week earlier.

“This shows the strong locational attributes of Tampines and the popularity of integrated developments,” he said, adding that such projects offer capital upside potential and high rentability.

Yip said buyers were drawn to the triple convenience of MRT access, retail, and nearby schools.

The development is linked to Tampines West MRT station and sits above a mall, with several primary schools within a kilometer.

He added that demand came from both owner-occupiers and investors, with Huttons estimating an 80% to 20% split. Smaller units saw strong uptake, with all two- and four-bedroom units sold.

The project’s performance reflects strong market acceptance for integrated mixed-use developments, where the average price is about $2,546 per square foot, said Kelvin Fong, CEO of PropNex.

He said demand was supported by interest in well-located projects and comparable to past launches such as Parktown Residence.

Fong added that many buyers are likely HDB and EC upgraders from Tampines, supported by the town’s large housing base. He also had the same opinion as Yip, citing connectivity via the Downtown Line, integrated retail offerings, and proximity to schools as key draw factors.

He noted that longer-term developments, including the relocation of Paya Lebar Air Base and expansion in Changi, could support future housing demand.

Fong added that while some recent launches have achieved over 90% take-up, performance will continue to depend on location, amenities, and pricing.

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