{"id":91331,"date":"2025-10-20T17:43:42","date_gmt":"2025-10-20T09:43:42","guid":{"rendered":"https:\/\/www.99.co\/singapore\/insider\/?p=91331"},"modified":"2025-10-31T14:48:24","modified_gmt":"2025-10-31T06:48:24","slug":"penrith-faber-residence-strong-launch-oct-2025","status":"publish","type":"post","link":"https:\/\/www.99.co\/singapore\/insider\/penrith-faber-residence-strong-launch-oct-2025\/","title":{"rendered":"Nearly 800 new launch units sold across Penrith and Faber Residence over the weekend"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div>\n<p> The property market saw another strong showing over the weekend of 18\u201319 October, as two new condominium projects \u2014 <strong>Penrith and Faber Residence<\/strong> \u2014 drew robust demand from buyers. The momentum came just a week after <a href=\"https:\/\/www.99.co\/singapore\/insider\/skye-at-holland-ccr-launch-value-pricing\/\" target=\"_blank\" rel=\"noreferrer noopener\">the near sell-out of Skye at Holland<\/a> in the Core Central Region (CCR).<\/p>\n\n\n\n<p>At Penrith, located along Margaret Drive in the city-fringe Queenstown area (RCR), developers achieved remarkable results with 447 units sold. Meanwhile, Faber Residence, nestled along Faber Walk in Clementi within the Outside Central Region (OCR), saw 344 units snapped up. Combined, the two launches moved nearly 800 units, signalling continued buyer confidence in both the city-fringe and mass-market segments.<\/p>\n\n\n\n<div class=\"wp-block-yoast-seo-table-of-contents yoast-table-of-contents\"><h2>Table of contents<\/h2><ul><li><a href=\"#h-penrith-97-take-up-s-2-800-psf-on-average\" data-level=\"2\">Penrith : 97% take-up, S$2,800 psf on average<\/a><\/li><li><a href=\"#h-faber-residence-86-units-sold-averaging-s-2-160-psf\" data-level=\"2\">Faber Residence : 86% units sold, averaging S$2,160 psf<\/a><\/li><li><a href=\"#h-new-private-home-sales-in-q4-2025\" data-level=\"2\">New private home sales in Q4 2025<\/a><\/li><\/ul><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-penrith-97-take-up-s-2-800-psf-on-average\"><a href=\"https:\/\/www.99.co\/singapore\/condos-apartments\/penrith\" target=\"_blank\" rel=\"noreferrer noopener\">Penrith<\/a>: 97% take-up, S$2,800 psf on average<\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"1176\" height=\"784\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/10\/89056686-edited.jpg\" alt=\"penrith launch\" class=\"wp-image-91342\"\/><figcaption class=\"wp-element-caption\">Penrith: 97% of the units were taken up on the first day of launch<\/figcaption><\/figure>\n\n\n\n<p>Jointly developed by Hong Leong Holdings, Hong Realty, and GuocoLand, Penrith comprises 462 units across two elegant 40-storey towers. The 99-year leasehold development sits on a 102,497 sqft site along Margaret Drive, acquired in August last year for S$497 million or about S$1,154 psf per plot ratio.<\/p>\n\n\n\n<p>This marks Queenstown\u2019s first new private residential project in seven years. Additionally, it&#8217;s also Hong Leong Holdings\u2019 second venture in the estate, following the successful 845-unit Commonwealth Towers in 2014, which sold out ahead of completion in 2017.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-penrith-sales-performance-at-launch\">Penrith sales performance at launch<\/h3>\n\n\n\n<p>During launch weekend, 447 of the 462 units (97%) were sold at prices ranging between S$2,435 and S$3,088 psf \u2014 around S$2,800 psf on average. Demand spanned across all unit types, with Singaporeans forming over 90% of buyers and the rest comprising permanent residents and foreigners.<\/p>\n\n\n\n<p>Interest leading up to the launch was intense. The consortium had reportedly collected 1,905 cheques as expressions of interest, more than four times the available units.<\/p>\n\n\n\n<p>Larger units proved especially popular, with all 3-bedroom apartments sold out and just two 4-bedroom units remaining. This response reflects the project\u2019s strong appeal among families and owner-occupiers, as Penrith deliberately omitted one-bedroom layouts to target end-users rather than investors.<\/p>\n\n\n\n<p><strong><em>Get the latest details on available units at Penrith <a href=\"https:\/\/api.whatsapp.com\/send?phone=6580581253&amp;text=Hi%2C%20I%27m%20interested%20to%20know%20more%20about%20this%20new%20launch%20project%20https%3A%2F%2Fwww.99.co%2Fsingapore%2Fcondos-apartments%2Fpenrith%0A%0AI%20would%20like%20to%20check%20available%20units%20for%20Penrith\" target=\"_blank\" rel=\"noreferrer noopener\">here<\/a>.<\/em><\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-one-of-the-best-selling-projects-in-2025\">One of the best-selling projects in 2025<\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"1440\" height=\"960\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/10\/8db959-Penrith-2-resized-edited.jpg\" alt=\"faber residence launch\" class=\"wp-image-91345\"\/><figcaption class=\"wp-element-caption\">More than 90% of the buyers at Penrith were Singaporeans<\/figcaption><\/figure>\n\n\n\n<p>Penrith now joins the ranks of 2025\u2019s top-performing launches, becoming the fifth project this year to exceed a 90% take-up rate during its opening weekend. Others in the list include Lentor Central Residences (93%), LyndenWoods (94%), Springleaf Residence (92%), and Skye at Holland (99%).<\/p>\n\n\n\n<p>\u201cThe strong response reflects Penrith\u2019s appeal as a rare, high-quality home in the popular Queenstown estate \u2014 a neighbourhood prized for its comprehensive amenities, city-fringe location and excellent connectivity that offer lasting value to homeowners,\u201d says Betsy Chng, head of sales and marketing at Hong Leong Holdings.<\/p>\n\n\n\n<p><strong><em>Is Penrith really worth its price tag? Here\u2019s our in-depth breakdown of its <a href=\"https:\/\/www.99.co\/singapore\/insider\/penrith-condo-value-price-analysis-2025-queenstown\/\" target=\"_blank\" rel=\"noreferrer noopener\">real value<\/a>.<\/em><\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-pent-up-demand-and-strong-hdb-upgraders\">Pent-up demand and strong HDB upgraders<\/h3>\n\n\n\n<p>Penrith\u2019s near sell-out performance reflects pent-up demand in the Queenstown area. The project enjoys a prime location just minutes from Queenstown MRT Station and within easy reach of a wide range of amenities. Nearby options include Margaret Drive Hawker Centre, Dawson Place, Mei Ling Market, IKEA Alexandra, Anchorpoint Shopping Centre, and Alexandra Central. The vibrant Dempsey Hill and Singapore Botanic Gardens lifestyle clusters are also within a short drive.<\/p>\n\n\n\n<p>The last new launches in Queenstown, <a href=\"https:\/\/www.99.co\/singapore\/condos-apartments\/margaret-ville\" target=\"_blank\" rel=\"noreferrer noopener\">Margaret Ville<\/a> and <a href=\"https:\/\/www.99.co\/singapore\/condos-apartments\/stirling-residences\" target=\"_blank\" rel=\"noreferrer noopener\">Stirling Residences<\/a>, both in 2018, have long been sold out, leaving a supply gap in the area. That scarcity, paired with Queenstown\u2019s large pool of HDB upgraders, helped drive strong demand.<\/p>\n\n\n\n<p>According to Marcus Chu, CEO of ERA Singapore, more than 100 resale HDB transactions in Queenstown surpassed the S$1 million mark in 2025, underscoring the strong upgrader demand in the area. District 3 home prices have also grown steadily, rising nearly 5% annually over the past decade, further highlighting the area\u2019s resilience and investment appeal.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-faber-residence-86-units-sold-averaging-s-2-160-psf\"><a href=\"https:\/\/www.99.co\/singapore\/condos-apartments\/faber-residence\" target=\"_blank\" rel=\"noreferrer noopener\">Faber Residence<\/a>: 86% units sold, averaging S$2,160 psf<\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"1176\" height=\"784\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/10\/89066153-edited.jpg\" alt=\"\" class=\"wp-image-91348\"\/><figcaption class=\"wp-element-caption\">Developers moved 344 units at the Faber Residence launch weekend<\/figcaption><\/figure>\n\n\n\n<p>Over in the west, Faber Residence also recorded an impressive 86% sales rate during its launch weekend, with 344 out of 399 units sold at an average of S$2,160 psf. Faber Residence\u2019s launch pricing came in slightly below the S$2,275 psf OCR average, making it an appealing option for buyers seeking waterfront living without the premium price tag.<\/p>\n\n\n\n<p>The development sits on a site along the tranquil stretch of Sungei Ulu Pandan, purchased in November 2024 for S$349.9 million (S$900 psf ppr) \u2014 roughly 30% lower than the price of a nearby Clementi Avenue 1 site (now <a href=\"https:\/\/www.99.co\/singapore\/condos-apartments\/elta\" target=\"_blank\" rel=\"noreferrer noopener\">ELTA<\/a>) sold the year before. This lower land cost gave developers room to offer more competitive pricing while maintaining healthy profit margins.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-sold-units-and-buyers-demographics\">Sold units and buyers&#8217; demographics<\/h3>\n\n\n\n<p>According to GuocoLand, all 80 2-bedroom and 199 3-bedroom units were fully sold, while over half of the larger 4- and 5-bedroom apartments were also taken up. The unit mix attracted strong upgrader demand, as many families and young couples sought affordable, well-sized homes with strong locational attributes. <\/p>\n\n\n\n<p><strong><em>Get the latest details on available units at Faber Residence <a href=\"https:\/\/api.whatsapp.com\/send?phone=6580581253&amp;text=Hi%2C%20I%27m%20interested%20to%20know%20more%20about%20this%20new%20launch%20project%20https%3A%2F%2Fwww.99.co%2Fsingapore%2Fcondos-apartments%2Ffaber-residence%0A%0AI%20would%20like%20to%20check%20available%20units%20for%20Faber%20Residence\" target=\"_blank\" rel=\"noreferrer noopener\">here<\/a>.<\/em><\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-sensitive-pricing-and-strong-locational-attributes\">Sensitive pricing and strong locational attributes<\/h3>\n\n\n\n<p>PropNex CEO, Kelvin Fong, noted the project\u2019s \u201csensitive pricing and locational attributes\u201d likely played a crucial role. At an average of S$2,160 psf, Faber Residence struck a sweet spot between affordability and perceived value. The 2-bedroom units started from S$1.28 million, while 3-bedders began around S$1.57 million \u2014 comfortably within reach for many HDB upgraders.<\/p>\n\n\n\n<p>Beyond pricing, the project\u2019s location stood out. It\u2019s within walking distance of the upcoming Jurong Town Hall MRT Station (JRL) and enjoys convenient access to the Ayer Rajah Expressway (AYE) and Pan-Island Expressway (PIE).<\/p>\n\n\n\n<p>Its proximity to the Jurong Lake District \u2014 Singapore\u2019s future second CBD \u2014 adds long-term upside, appealing to professionals working in the Jurong Innovation District and one-north. The project\u2019s setting by the Pandan River also offers a rare, tranquil lifestyle that sets it apart from other suburban developments.<\/p>\n\n\n\n<p><strong><em>Read our deep dive on the pricing and investment potential of Faber Residence <a href=\"https:\/\/www.99.co\/singapore\/insider\/faber-residence-price-review-investment-potential\/\" target=\"_blank\" rel=\"noreferrer noopener\">here<\/a>.<\/em><\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-ocr-new-launch-performance-ex-ec-in-2025\">OCR new launch performance (ex. EC) in 2025<\/h3>\n\n\n\n<p>Faber Residence\u2019s strong launch closes the year as the final OCR project of 2025, capping off what\u2019s been a healthy rebound in mass-market housing demand. As of September 2025, SRI data shows that 3,811 new private homes in the OCR were already sold \u2014 more than double the 1,952 units recorded over the same period last year.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>2025 OCR Launches<\/strong><\/td><td><strong>No. of Units Sold*<\/strong><\/td><td><strong>Total Units<\/strong><\/td><td><strong>Overall Take-up Rate<\/strong><\/td><\/tr><tr><td><strong>Parktown Residence<\/strong><\/td><td>1,096<\/td><td>1,193<\/td><td>91.9%<\/td><\/tr><tr><td><strong>Springleaf Residence<\/strong><\/td><td>893<\/td><td>941<\/td><td>94.9%<\/td><\/tr><tr><td><strong>Lentor Central Residences<\/strong><\/td><td>476<\/td><td>477<\/td><td>99.8%<\/td><\/tr><tr><td><strong>ELTA<\/strong><\/td><td>343<\/td><td>501<\/td><td>68.5%<\/td><\/tr><tr><td><strong>Canberra Crescent Residences<\/strong><\/td><td>245<\/td><td>376<\/td><td>65.2%<\/td><\/tr><tr><td><strong>Bagnall Haus<\/strong><\/td><td>98<\/td><td>113<\/td><td>86.7%<\/td><\/tr><tr><td><strong>Faber Residence**<\/strong><\/td><td>344<\/td><td>399<\/td><td>86.2%<\/td><\/tr><\/tbody><\/table><figcaption class=\"wp-element-caption\">Source: PropNex Research, URA Realis (*till 12 Oct 2025), **during sales launch<\/figcaption><\/figure>\n\n\n\n<p>Projects such as Parktown Residence, Springleaf Residence, and Lentor Central Residences all achieved over 90% take-up, underscoring the strength of the mass-market segment. Competitive pricing, resilient local demand, and sustained upgrader activity continue to support OCR sales momentum this year.<\/p>\n\n\n\n<iframe loading=\"lazy\" style=\"border: none; width: 350px !important; box-shadow: 0px 2px 12px rgb(11 17 52 \/ 15%); border-radius: 16px;\" src=\"https:\/\/www.99.co\/property-value-widget?contentSource=insider-blog&amp;contentId=penrith-faber-residence-strong-launch-oct-2025\" width=\"350\" height=\"370\" scrolling=\"no\"><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><\/span><\/iframe><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-new-private-home-sales-in-q4-2025\">New private home sales in Q4 2025<\/h2>\n\n\n\n<p>As of September, developers had sold <a href=\"https:\/\/www.99.co\/singapore\/insider\/developer-private-home-sales-september-2025\/\" target=\"_blank\" rel=\"noreferrer noopener\">7,924 new private homes<\/a> (excluding ECs) in the first nine months of 2025. With strong take-up at Skye at Holland, Penrith, and Faber Residence in October, total sales have now climbed close to 9,400 units, significantly surpassing the 6,626 units sold in the whole of 2024.<\/p>\n\n\n\n<p>According to Fong, another key factor driving demand at Penrith and Faber Residence was the recent easing of interest rates, which has made home financing more affordable for buyers. As of 17 October 2025, the 3-month compounded SORA stood at around 1.4% per annum \u2014 the lowest level in more than three years. This, coupled with a strong stock market rally and steady economic growth, has lifted buyer sentiment and confidence in property as a stable asset class.<\/p>\n\n\n\n<p>If sales momentum continues, total new home sales in 2025 could cross 10,000 units, with the upcoming Zyon Grand (Kim Seng Road) and The Sen (Beauty World) wrapping up the final RCR launches of the year. Should that happen, 2025 would mark the most active year for new home sales since 2021, when developers sold over 13,000 units.<\/p>\n\n\n\n<p><strong><em>Stay updated with the latest news and insights on Singapore\u2019s new launch market&nbsp;<a href=\"https:\/\/www.99.co\/singapore\/insider\/condo\/new-launch-condo\/\" target=\"_blank\" rel=\"noreferrer noopener\">here<\/a>.<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The property market saw another strong showing over the weekend of 18\u201319 October, as two new condominium projects \u2014 Penrith and Faber Residence \u2014 drew robust demand from buyers. The momentum came just a week after the near sell-out of Skye at Holland in the Core Central Region (CCR). At Penrith, located along Margaret Drive&hellip;<\/p>\n","protected":false},"author":142,"featured_media":91347,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"59689,91238,90559,91103,91089,90507","_relevanssi_noindex_reason":"","_lmt_disableupdate":"","_lmt_disable":"","_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[53601,53738,57131],"tags":[53604,59604,53932,59264,53740,59605],"persona":[57125,57127,57126,57128],"class_list":{"2":"type-post","20":"entry","21":"has-post-thumbnail"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.7.1 (Yoast SEO v25.7) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Penrith and Faber Residence strong take-up at launch - 99.co<\/title>\n<meta name=\"description\" content=\"Penrith in Queenstown and Faber Residence in Clementi collectively sold nearly 800 new launch condo units over the weekend. 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