Summary
Developers sold 668 out of 777 units at The Orie, reaching about 86% with a mean price of $2,704 psf. The site is a joint effort by City Developments Ltd, Frasers Property, and Sekisui House in Toa Payoh.
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
Set to complete in 2030, The Orie coincides with the planned opening of the Toa Payoh Integrated Development. Positioned only five minutes on foot from Braddell MRT, it offers quick access to daily conveniences and transport links.
Developer Perspectives
City Developments Ltd’s group CEO Sherman Kwek expressed delight in the robust reception. He credits the development’s layout and strategic positioning for attracting a large wave of homebuyers.
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.
Smaller one-bedroom plus study options accounted for a substantial share of early takers, as Huttons indicates over half were sold. Their lower entry price put them on the radar for investment-focused purchasers.
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.
Three-bedroom dual-key units (1,130 sq ft) surpassed 50% in sales, commanding prices from $2.75 million to $3.092 million. Over 85% of the 78 four-bedroom homes (1,216 sq ft) sold for $2.92 million to $3.452 million.
Buyers seeking larger units for expanded families or shared living found these premium and five-bedroom designs appealing, reflected by brisk sales even in the higher price brackets.
Market Impact and Outlook
Gafoor believes these sizable weekend sales at The Orie and Bagnall Haus overshadow earlier monthly figures, confirming robust buyer sentiment. He expects continued strength with more launches set for early 2025.
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.
Natarajan also comments that robust market uptake often raises the likelihood of cooling measures if values spike too quickly, hinting that developers should remain alert over the next few months.
Conclusion
Considering The Orie’s sales success, demand appears undeterred by current prices, especially for convenient, centrally situated homes. Upgraders, investors, and families see benefits in areas like Toa Payoh.
Kassia Condo
If you have been waiting to upgrade in Toa Payoh or prefer an MRT-accessible property, The Orie’s robust launch weekend highlights strong market momentum. This could be an encouraging signal for future launches in 2025.