Bagnall Haus at close to 63% sold during launch

Bagnall Haus at close to 63% sold during launch

Roxy-Pacific Holdings has achieved an impressive sales milestone with the launch of Bagnall Haus, a freehold condominium in District 16. On its first day of sales, 71 out of 113 units were snapped up, translating to a 63% take-up rate, with an average price of $2,490 psf. The strong demand highlights the continued appetite for well-located freehold developments in Singaporeโ€™s competitive residential market.

Strong Demand Across Unit Types

According to Teo Hong Lim, Executive Chairman of Roxy-Pacific Holdings, over 90% of the buyers were Singaporeans, with most being owner-occupiers. The project saw healthy demand across different unit types, with particular interest in two- and three-bedroom units.

  • One- and two-bedroom units (495 to 764 sq ft) were the most sought-after, accounting for 59% of the total sales. Prices were under $2.1 million.

  • Three-bedroom units (969 to 1,152 sq ft) saw a strong take-up, with 18 out of 20 units sold at prices ranging from $2.3 million to $2.7 million.

  • Larger four- and five-bedroom units (1,238 to 1,528 sq ft) were also in demand, fetching $3 million to $3.8 million.

  • Additionally, both strata shop units on the ground floor were sold at $688,000 each ($4,000 psf).

Why Bagnall Haus Stands Out

Industry experts highlight several factors that contributed to the strong demand:

  • Competitive Pricing: The average price of $2,490 psf is seen as reasonable for a freehold development, especially compared to recent 99-year leasehold launches in the OCR that have reached similar price levels.

  • Prime Location: Situated along Upper East Coast Road, Bagnall Haus offers residents proximity to key amenities and reputable schools, including Temasek Primary School (within 1km).

  • Excellent Connectivity: The development is within walking distance to Sungei Bedok MRT Station, an interchange for the Downtown and Thomson-East Coast lines, enhancing accessibility.

  • Rare Freehold Offering: Buyers recognize the long-term value of freehold tenure, particularly in an area that has not seen a new project launch for over 15 years.

  • Upcoming Transformation: The Bayshore precinct is set for major redevelopment, including an integrated transport hub and mixed-use developments, boosting potential capital appreciation.

Market Sentiment & Future Outlook

According to Mark Yip, CEO of Huttons Asia, the combination of pent-up demand, freehold status, and MRT proximity made Bagnall Haus an attractive choice. Many buyers were downsizing from older landed properties, while others were families in the vicinity looking to upgrade.

As the Singapore property market continues to evolve, developments like Bagnall Haus demonstrate that well-priced, well-located freehold projects remain highly desirable. With the Bayshore precinct transformation on the horizon, early buyers may stand to benefit from future appreciation.

Summary of Key Takeaways

โœ… 63% of units sold on launch day, with an average price of $2,490 psf
โœ… 90% of buyers were Singaporeans, mainly owner-occupiers
โœ… Strong demand for two- and three-bedroom units, with four- and five-bedroom units also fetching strong interest
โœ… Walking distance to Sungei Bedok MRT Station (Downtown & Thomson-East Coast lines)
โœ… Part of the upcoming Bayshore precinct transformation, expected to enhance future value
โœ… Rare freehold launch in the area after 15 years, making it a unique investment opportunity

With limited units remaining, now is the time to act if you're considering a move to the East Coast. Reach out today for the latest availability and insights!

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