What drove Bagnall Haus project sales?

The project had more than 60% take-up rate in its first weekend.

Prime location, reasonable price, and a 15-year pent-up demand for a new project and its freehold tenure drove sales at Bagnall Haus, one of the first condo project launches in Singapore this year.

Mark Yip, CEO of Huttons Asia said the project sold over 60% of its total units on its launch weekend.

“It is also rare to find a freehold project at the doorstep of an MRT station. Buyers were convinced of the benefits from the upcoming Bayshore precinct transformation,” Yip said

Ismail Gafoor, CEO of PropNex agreed saying that the average price of all units sold on Saturday was around $2,490 psf, which they think is compelling for a well-located freehold development.

“We reckon buyers saw value in the project, given that some 99-year leasehold OCR new launches had fetched an elevated $PSF price – for instance, Chuan Park achieved an average price of $2,579 psf when it was launched in November 2024,” Gafoor said.

Apart from the competitive pricing and the freehold land tenure, Bagnall Haus’ location attributes also stand out. It is virtually at the doorstep of the upcoming Sungei Bedok MRT interchange station and Bedok Food Centre, it is also a short walk to the Upper East Coast Bus Terminal, as well as to shops at Eastwood Centre.

Meanwhile, schools nearby include Temasek Primary and Temasek Secondary School, Bedok Green Primary School, and Anglican High School. A short distance from the project, there are also ITE College East, and the Singapore University of Technology and Design in the Upper Changi area.

Future developments nearby – such as the new Bayshore housing precinct and transformation in the Changi Region – also offer potential growth upside and will inject more vibrancy into the area.

Aside from Bagnall Haus, The Orie also saw an extremely successful launch.

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Huttons Asia

PropNex

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