Narra Residences sells 25% of units at 'safe' entry prices on launch weekend

The year's first OCR launchachieved solid weekend sales.

Narra Residences—the first private residential project to enter the market in the Outside Central Region (OCR) in 2026—sold about 135 units, including four commercial shops, during its launch weekend.

The Dairy Farm Walk development achieved a take-up rate of roughly 25% of its 544 available units, with two- and three-bedroom apartments driving about 90% of weekend sales.

Market observers noted that the average price of about $2,180 per square foot (psf) sits below the 2025 OCR average of $2,250 psf.

Prices for the development started at $1,930 psf, with one-bedroom units priced from $998,000, whilst three-bedroom units began at $1.63m.

According to Huttons, buyers with HDB addresses accounted for 30% to 40% of sales, with the remainder coming from private residential homeowners.

Investors targeted one- and two-bedroom units to capture tenant demand from nearby international schools, including the German European International School and The Perse School.

Owner-occupiers and families focused on larger three-bedroom units, drawn by the project’s proximity to CHIJ Our Lady Queen of Peace, Bukit Panjang Primary School, and surrounding nature.

Property analysts at PropNex and Relion said the sales pace aligns with historical patterns in the Dairy Farm area, where demand typically builds gradually rather than peaking during the launch weekend.

“The pace of sales at Narra Residences appears consistent with a broader pattern in this area, where projects tend to start gradually before transactions gather momentum in subsequent months,” said Kelvin Fong, chief executive of PropNex.

Relion also noted that with nearby projects such as The Botany at Dairy Farm and Hillhaven nearing full occupancy, Narra Residences has emerged as the primary near-term option for buyers in District 23.

Whilst an adjacent land parcel awarded recently introduces future competition, analysts believe the current pricing may remain attractive compared with upcoming OCR launches that are likely to face higher land costs.

Relion also reported strong take-up at Newport Residences, a freehold mixed-use development in the Central Business District, driven by local investors and parents buying homes for their children.

The firm attributed demand to the scarcity of freehold properties in the city centre and the project’s proximity to the upcoming Greater Southern Waterfront redevelopment.

Analysts said a combination of reputable developers and a potentially more favourable interest rate environment supported the steady market response.

Narra Residences is also expected to benefit from its proximity to Hillview MRT station and its “safe entry” price point.

“We anticipate that more buyers will return to pick up units beyond the launch phase, after comparing options across the OCR market and assessing relative value,” Fong added.