UPPERHOUSE sells 53% of units at launch with $3,350 psf average

The 99-year leasehold development achieved a take-up rate of over 53%.

The launch of UPPERHOUSE at Orchard Boulevard over the weekend drew strong buying interest, with both PropNex and Huttons reporting robust sales and renewed confidence in the Core Central Region (CCR) segment.

The 99-year leasehold development achieved a take-up rate of over 53% of its 301 units, at an average price of $3,350 psf — marking the strongest private preview performance for a CCR project since Watten House in November 2023.

“We are heartened by the healthy sales at UPPERHOUSE, especially with another major CCR launch, The Robertson Opus, occurring concurrently. The combined launch brings the largest injection of CCR units since the tightening of ABSD in April 2023,” said Kelvin Fong, CEO of PropNex.

He added that the UPPERHOUSE sales alone have already outpaced the total CCR new units sold in Q2 2025, projecting a rebound in developers’ sales for Q3.

Fong highlighted the project's competitive pricing relative to other high-end launches like Park Nova and Boulevard 88, stating that the quantum — from $1.4m for one-bedders and up to $2.7m for two-bedders — sits within the sweet spot for buyers.

He also emphasized the project's strong locational value, being next to Orchard Boulevard MRT and within close proximity to Tanglin Mall and Orchard Road.

Meanwhile, Mark Yip, CEO of Huttons Asia, echoed the strong sentiment, calling UPPERHOUSE the best-selling CCR project in 2025 and the strongest since The M in 2020.

Yip emphasized the project’s one-of-a-kind location, noting that it is the last available plot in the Orchard Boulevard vicinity, offering doorstep MRT access and views toward the south.

“Almost all the 3-bedroom units were sold, and a third of the 4-bedroom units were taken up — this indicates strong owner-occupier demand,” said Yip.

He also pointed to compelling value as a key driver. The CCR-RCR median psf price gap has narrowed from 56.5% in 2018 to just 1.9% in the first half of 2025, signaling strong upside potential.

Yip further noted that economic confidence — backed by Singapore’s estimated 4.2% GDP growth in 1H 2025 and lower borrowing costs with 3-month SORA dipping below 2% — likely contributed to buyer enthusiasm.