In an impressive display of demand, Bukit Sembawang Estates’ newest development, 8@BT, located along Bukit Timah Link, achieved a strong sales performance over its launch weekend. As of noon on September 22, 83 out of the 158 available units, equivalent to 53%, were sold at an average price of $2,719 psf. The units, which range from one-bedroom to four-bedroom apartments, saw particular interest in the one-bedroom and two-bedroom configurations.
The starting price for the units was $2,530 psf, with buyers predominantly being Singaporeans and permanent residents (PRs), making up 99% of the total purchasers. Of the buyers, the majority were families with children, while a sizable portion were upgraders and right-sizers. Age-wise, 33% of the buyers were between the ages of 31 and 40, while 21% were younger adults between 21 and 30. The development also attracted retirees, with around 5% of buyers being over the age of 60.
The most popular units during the launch were the one-bedroom apartments, with 91% of the 32 available units sold. Two-bedroom apartments also experienced strong demand, with 60% of 48 units taken up. For three-bedroom apartments, about 49% were sold.
A Competitive Market
8@BT’s strong showing follows the trend of solid demand for homes in the Bukit Timah (Beauty World) area. It is the second development to surpass a 50% sales take-up rate in the second half of 2024, following the successful launch of Kassia, which sold 52% of its units in July. According to Ismail Gafoor, CEO of PropNex, 8@BT has shown one of the best take-up rates for project launches in 2024, just behind Lentor Mansion's 75% sales during its March launch.
Mark Yip, CEO of Huttons Asia, highlights that 8@BT’s appeal lies in its efficient layouts, quality finishes, and proximity to the Beauty World MRT Station, which offers seamless connectivity to major areas such as the Central Business District (CBD). The success of this project reflects a pent-up demand in this part of District 21, where limited new home options remain following the near sell-out of other developments such as The Linq@Beauty World and The Reserve Residences.
Why 8@BT Stands Out
As the only pure residential project in the Beauty World vicinity, 8@BT is strategically located to offer both tranquillity and convenience. The development sits in close proximity to nature reserves like Bukit Timah Nature Reserve and Rifle Range Nature Park, providing residents with access to green spaces for recreational activities. Additionally, families with school-going children will appreciate the development’s proximity to prestigious schools like Pei Hwa Presbyterian Primary School, Methodist Girls' School, and Nanyang Primary School.
With its contemporary design, efficient unit layouts, and premium location, 8@BT has positioned itself as a highly sought-after address for buyers looking to invest in Bukit Timah's exclusive neighbourhood. The development offers a diverse range of unit sizes, making it ideal for families, upgraders, right-sizers, and even retirees who are looking to downsize without leaving the area.
Summary of Key Highlights:
- Launch success: 53% of 158 units sold over the weekend at an average of $2,719 psf.
- Buyer profile: 99% were Singaporeans and PRs, with 33% aged between 31-40, and 21% between 21-30.
- Unit demand: One-bedroom units saw the highest demand with 91% sold, followed by two-bedroom units at 60%, and three-bedroom units at 49%.
- Appeal: High-efficiency layouts, no balconies, and premium finishes drew strong interest.
- Location advantages: Close proximity to Beauty World MRT, nature parks, and top schools in the Bukit Timah area.
- Limited new homes: 8@BT is the only fully residential project in the area, with limited competition from nearby projects.
Interpretation of the News
The launch of 8@BT has clearly demonstrated that demand for new homes, particularly in coveted districts like Bukit Timah, remains strong. The robust take-up rate, combined with the premium pricing, highlights the enduring appeal of well-located, thoughtfully designed developments. Furthermore, the majority of buyers being local reflects the deep-rooted desire among Singaporeans to secure homes in familiar, established neighbourhoods. The high demand for one- and two-bedroom units also signals a shift towards more compact, efficiently designed homes, which cater to both young professionals and right-sizers.
As the Bukit Timah area continues to evolve with new developments and enhanced infrastructure under the URA Draft Master Plan, such as the upcoming integrated transport hub and additional green spaces, homeowners in this area are likely to see sustained growth in property values, making this a prime opportunity for investors and homebuyers alike.
For those looking to be part of this exclusive community or for investors seeking strong capital appreciation potential, now is the perfect time to explore what 8@BT has to offer. With limited units remaining, don’t miss out on this opportunity. Reach out today for the latest updates on available units, pricing, and more information on how this exceptional development can fit your needs!