Strong demand at The Robertson Opus and UpperHouse, with average prices of S$3,350 pe

Strong demand at The Robertson Opus and UpperHouse, with average prices of S$3,350 per square foot

The Robertson Opus sells 41% of its 348 units, while UpperHouse at Orchard Boulevard moves 53% of its 301 units.

July 20, 2025

CONDOsingapore.com

The weekend saw the launch of two new projects in the Core Central Region (CCR): The Robertson Opus and UpperHouse at Orchard Boulevard. Both projects saw strong demand, selling over 40% of their units.

According to PropNex CEO Kelvin Fong, the introduction of UpperHouse (301 units) and The Robertson Opus (348 units) represents the biggest supply injection in the CCR since additional buyers' stamp duty regulations were tightened in 2023.

On Saturday, July 19, UOL Group and Singapore Land Group's UpperHouse sold 162 units, or more than 53.8%, at an average price of S$3,350 per square foot (psf).

Units ranging from one-bedroom and study to four-bedroom suites are available in the 99-year leasehold project. While two-bedrooms ranged from roughly S$2.1 million to S$2.7 million, one-bedrooms cost close to S$1.4 million.

"Healthy take-up across all unit types," according to Anson Lim, senior general manager of residential marketing at UOL. The largest units in the project, known as its "Bespoke Collection," which included 31 four-bedroom apartments with private elevators and parking, had a 30% occupancy rate. A high-floor unit cost S$7.66 million, or S$3,724 per square foot.

According to Mark Yip, CEO of Huttons Asia, UpperHouse is the best-selling CCR project since the 2021 launch of Midtown Modern. A third of the four-bedroom apartments were occupied, and almost all of the three-bedroom apartments were sold, suggesting "strong owner-occupier demand."

99 percent of purchasers were Singaporeans or permanent residents, with the remaining purchasers being foreigners. Both long-term investors and owner-occupiers were drawn to the project.

Selling more than half of the units for a CCR project is a great outcome. "It demonstrates the steadfast demand for high-end CCR residences and solid foundations in Singapore's real estate market," Yip stated.

Yvonne Tan, the chief corporate and development officer at UOL, credited the impressive performance to the closing price difference between CCR and RCR as well as the alluring premium between freehold and leasehold luxury goods.

The median psf price difference between CCR and RCR decreased from 56.5% in 2018 to 1.9% in H1 2025, according to Huttons data. Yip stated, "Once the difference between CCR and RCR home prices widens, there is potential for a strong upside."

According to Fong of PropNex, UpperHouse is among the most reasonably priced new developments close to Orchard Road, with an average price of S$3,350 per square foot.

He contrasted this with the 99-year leasehold Cuscaden Reserve, which sold resale units for an average price of more than S$3,100 psf in the first four months of 2025, and the freehold Park Nova at Tomlinson Road, where two large-format new units sold this year at an average of roughly S$6,150 psf.

UpperHouse is situated in District 10 close to River Valley Primary School, across from Orchard Boulevard MRT, and along Grange Road and Orchard Boulevard.

The 7,013.4 square metre site was purchased by UOL and SingLand last year for S$428.3 million, or S$1,617 psf per plot ratio (ppr), which is 30 to 40% less than the S$2,377 psf ppr that the Cuscaden Reserve, a nearby Cuscaden Road site, fetched in 2018.

Steady sales at The Robertson Opus

The mixed-use Developers Frasers Property and Sekisui House reported on Sunday that 143 of the 348 units in the Robertson Opus had sold for an average price of S$3,360 per square foot. This equates to a 41 percent take-up rate.

Five blocks of one to four-bedroom apartments make up the 999-year-old River Valley development. One-bedroom apartments start at S$1.58 million, two-bedroom apartments at S$2.17 million, three-bedroom apartments at S$3.1 million, and four-bedroom apartments at S$5.09 million. Studio units start at S$1.37 million.

"All unit types have seen robust demand, but the Legacy Collection's three-bedroom and four-bedroom premium units are the most sought-after and nearly sold out," the developers stated.

Eighty-three percent of the buyers are Singaporeans, sixteen percent are permanent residents, mostly from China and Indonesia, and the remaining buyers are foreigners from the US and Switzerland. The buyers are professionals making purchases for their own stay or investment.

"The project's unique 999-year tenure, prestigious District 9 address, and sophisticated riverside lifestyle – along with its proximity to key business and lifestyle hubs – make it a compelling choice for discerning buyers seeking long-term value and generational wealth," stated Soon Su Lin, CEO of Frasers Property Singapore.

The Robertson Opus, a 51:49 joint venture between Frasers Property and Japanese developer Sekisui House, is a redevelopment of Frasers' serviced residence Fraser Place Robertson Walk and its surrounding commercial area, Robertson Walk. It also features a retail podium on the first floor and basement.

PropNex's Fong anticipates a recovery in Q3 developers' sales in the CCR due to the consistent uptake at both launches.

"It is true that the number of units sold at UpperHouse at Orchard Boulevard during the private preview alone has already greatly surpassed the 46 CCR new units sold during the entire second quarter of 2025."

According to Mohan Sandrasegeran, head of research and data analytics at Singapore Realtors Inc., buyers who prioritise capital stability and wealth diversification are driving the demand for luxury homes, even in the face of the recent increase in seller's stamp duty rates.

"These elements suggest that the CCR market is undergoing a strategic reset. The luxury housing market is in a good position to pick up steam thanks to solid fundamentals, encouraging regulations, and improving economic indicators."

Strong sales at Otto Place EC

According to developers Hoi Hup Realty and Sunway Developments, the executive condo (EC) Otto Place sold 351 units at launch, or 58.5 percent of its 600 units. Under the standard payment plan, the average price of its units sold was S$1,700 per square foot.

Three-bedroom deluxe units at Otto Place start at 872 square feet and cost S$1.41 million (S$1,617 psf). Four-bedroom plus study luxury units cost S$2.18 million (S$1,824 psf) and measure 1,195 square feet. The larger units were sold in excess of 70%.

Otto Place is close to Princess Elizabeth Primary School and two MRT stations in Tengah's Plantation District.

"Demand for ECs remains strong, supported by steady local interest, significant price advantages over private condos, and government grants," stated Marcus Chu, CEO of ERA Singapore, in spite of broader economic headwinds.