Summary
By the close of its first weekend, The Orie had moved 668 of 777 homes, translating to 86% sales at $2,704 psf on average. It stands on a 99-year leasehold plot and is helmed by the CDL-led consortium with Frasers Property and Sekisui House.
Curious about what draws so many buyers to The Orie? Its setting in Toa Payoh, close to an upcoming integrated development, has captured the imagination of upgraders and first-timers alike.
Pent-up need for new homes in this popular neighborhood is cited as a key driver of sales. The last major launch in Toa Payoh—Gem Residences—dates back nearly a decade to 2016, so fresh condominiums here spark immediate interest.
Location and Timeline
Buyers see The Orie’s timeline as neatly aligned with the broader rejuvenation around Toa Payoh. The completion date matches that of the local integrated project, making it a strategic pick for long-term living.
Developer Perspectives
Sherman Kwek, group CEO of CDL, praised the “fantastic response” to The Orie, calling it a strong start to 2025. He mentioned that the design and location played a key role in drawing buyers.
Buyer Profile
Local upgraders and families from Toa Payoh form a big chunk of the buyers. Many first-timers were also lured by its proximity to transit and services, especially with the upcoming integrated facilities in the area.
Launch Demand and Sales Breakdown
Mark Yip, CEO of Huttons, shares that buyers viewed the condo’s pricing as fair for a mature estate like Toa Payoh, attracting both investors and those seeking a centrally located home.
Huttons points out that more than 60% of The Orie’s 78 one-bedroom plus study flats (517 sq ft) were claimed by launch weekend. These units, priced roughly from $1.28 million to $1.545 million, drew mostly investor interest.
The two- and three-bedroom segments formed about 60% of The Orie’s overall unit mix and proved the most popular, nearly selling out. Two-bedroom homes (592–700 sq ft) ranged from $1.48 million to $2.119 million, while the 156 three-bedroom types (850–1,044 sq ft) fetched $2.09 million to just over $3 million.
Dual-key formats offer flexible living or rental income, explaining their popularity. Four-bedroom configurations, priced in the high $2 million to mid-$3 million range, likewise had strong acceptance.
Spacious options, including four-bedroom premium plus study and five-bedroom floor plans, drew interest despite higher prices of $3.28 million and above. Their strong take-up indicates a niche group valuing extra living areas.
Market Impact and Outlook
Developers moved around 740 new units across Bagnall Haus and The Orie in one weekend alone, more than doubling January 2024’s tally of 304 new private homes. PropNex CEO Ismail Gafoor highlights this surge.
Looking at the broader 1Q2025 outlook, Gafoor foresees a sustained momentum, carried by additional project rollouts in February and March. He links much of the optimism to renewed market confidence and interest rate adjustments in late 2024.
With The Orie’s success, Natarajan suggests that other developers might expedite their new projects to tap into positive market conditions. Still, he cautions that a surge in prices elevates the risk of policy measures.
Conclusion
For potential homeowners or investors eyeing a mature estate with proven resale value, The Orie demonstrates how location and timing can spark overwhelming buyer response.
The Orie PSF
Considering the brisk pace of sales, The Orie reaffirms the appeal of a convenient address and the value of living in a mature neighborhood. With upcoming projects on the horizon, both buyers and sellers can anticipate an active market.