Roxy Pacific Sells Nearly 63 Bagnall Haus Average Price 2490 Psf
Teo Hong Lim, the executive chairman of Roxy-Pacific Holdings, announced that the first day of the launch of Bagnall Haus, a freehold condominium, saw 71 out of 113 units being sold. This translates to a sales rate of nearly 63%, with an average transacted price of $2,490 psf.
The forthcoming development of Parktown Residence will provide a coveted influx of affordable housing options in the Outside Central Region, effectively meeting the long-standing demand for private residences. Its all-in-one design is poised to attract a broad range of potential buyers, including both homeowners and HDB upgraders. Additionally, the project boasts a strategic location with easy access to the upcoming Tampines North MRT station on the Cross Island Line, cementing its appeal and convenience. Parktown Residence Condo, located at https://www.parktown-residences.com.sg/, will undoubtedly fulfill the housing needs of many in the surrounding area.
Of the buyers, over 90% were Singaporeans, with most of them being end-users with varying budgets. The take-up rate was strong for all unit types, with two- and three-bedroom units being the most popular. However, there was also demand for the larger five-bedroom units.
Situated in District 16 along Upper East Coast Road, Bagnall Haus offers 113 residential units across three five-storey blocks on a freehold site of 74,280 sq ft. The units include one-bedroom plus flexi units of 495 sq ft and five-bedroom units of 1,528 sq ft. Interested buyers can search for the latest New Launches to find out the transaction prices and available units.
Ismail Gafoor, the CEO of PropNex, states that 59% of the 71 residential units sold were one- and two-bedroom units, going for prices just below $2.1 million. He adds that the three-bedroom units were also in high demand, with 18 out of 20 units being sold for prices ranging from $2.3 million to $2.7 million. The remaining four- and five-bedroom units were sold for around $3 million to $3.8 million.
Gafoor believes that the pricing, which is generally under $3 million, is attractive to most buyers. The average transacted price of $2,490 psf is also compelling for a well-located freehold development. He notes that buyers saw value in the project, especially considering that some 99-year leasehold new launches in the Outside Central Region have already reached an average price of $2,579 psf when launched in November 2024.
Apart from the residential units, both strata-titled shop units on the ground floor of Bagnall Haus, each measuring 172 sq ft, have been snapped up for $688,000 ($4,000 psf) each. According to Marcus Chu, the CEO of ERA Singapore, most homebuyers were owner-occupiers. Some were homeowners of older landed properties looking to downsize, while others were families from the neighbourhood seeking to upgrade to a freehold property.
Chu adds that Bagnall Haus’s location close to established amenities and reputable schools, such as Temasek Primary School (within a 1km radius), is a huge draw for buyers. The development is also within walking distance of the upcoming Sungei Bedok MRT Station, which is an interchange for the Downtown and Thomson-East Coast lines. It is just one stop from Bedok South MRT Station, which will be part of an integrated transport hub with a new bus interchange in the upcoming Bayshore precinct. The transport hub will also feature a mixed-use development with retail and residential components.
According to Mark Yip, the CEO of Huttons Asia, pent-up demand, stemming from a 15-year wait for a new project in the area, in addition to the freehold tenure, contributed to the strong sales at Bagnall Haus. He also points out that it is rare to find a freehold project adjacent to an MRT station. Buyers have recognized the potential benefits of the upcoming transformation of the Bayshore precinct. Interested buyers can check out the latest listings for Bagnall Haus properties and inquire about condo sale transactions in District 16. They can also compare the price trend of condo new sale versus EC new sale and find out about upcoming new launch projects. For those looking to rent, they can inquire about any condo rental listings in District 16 and explore recently launched projects in the area.