Teo Hong Lim, the executive chairman of property developer Roxy-Pacific Holdings, proudly announced that 71 out of the 113 units at Bagnall Haus, a freehold condominium, were sold on the first day of its launch on Jan 18. This impressive sales rate of almost 63% translates to an average transacted price of $2,490 per square foot. The majority of buyers were local Singaporeans, making up over 90% of the total sales. According to Teo, these buyers were mostly end-users with varying budgets. All unit types were in high demand, with two- and three-bedroom units being the most popular. However, the larger five-bedroom units also saw strong demand.
The development, located in District 16 along Upper East Coast Road, consists of 113 residential units spread across three five-storey blocks on a freehold land area of 74,280 square feet. The units are a good mix of one-bedroom plus flexi (495 square feet) and five-bedrooms (1,528 square feet). Interested buyers can find the latest prices and availability of units by searching for the newest launches.
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CEO of PropNex, Ismail Gafoor, reveals that out of the 71 residential units sold, 59% were one- and two-bedroom units that were priced just under $2.1 million. He also shares that the demand for three-bedroom units was also high, with 18 out of 20 units being taken up at prices ranging from $2.3 million to $2.7 million. The remaining four- and five-bedroom units were sold for about $3 million to $3.8 million each. According to Gafoor, the attractive price range of under $3 million appeals to most buyers.
The average transacted price of $2,490 per square foot was considered to be great value for a freehold property in such a prime location. Gafoor notes that buyers could see this value, especially since some new 99-year leasehold launches in the Outside Central Region (OCR), such as Chuan Park, had already achieved an average price of $2,579 per square foot at its launch in November 2024. Additionally, the two strata-titled shop units on the ground floor, each measuring 172 square feet, were also quickly snapped up at $688,000 per unit ($4,000 per square foot).
The majority of buyers were homeowners looking to occupy their new homes. Some downsized from older landed properties, while others were families from the neighborhood who wanted to upgrade to a freehold property. The presence of established amenities and reputable schools, such as Temasek Primary School, located within a one-kilometer radius, made Bagnall Haus attractive to buyers. The development is also within walking distance of the upcoming Sungei Bedok MRT Station, which will be an interchange for the Downtown and Thomson-East Coast lines. It is only one stop away from Bedok South MRT Station, which will be part of a mixed-use development featuring a bus interchange, retail, and residential components.
According to Mark Yip, CEO of Huttons Asia, the strong sales at Bagnall Haus were driven by pent-up demand due to a 15-year wait for a new project in the area, as well as the freehold tenure and prime location next to an MRT station. The transformation of the Bayshore precinct, where the development is located, also played a role in attracting buyers. For those interested in Bagnall Haus properties, you can check out the latest listings for available units. Additionally, you can use Ask Buddy to compare condo sale transactions in District 16 and to get information on upcoming new launch projects.