Launch of Dunearn House saw 212 units (56%) sold on launch weekend at an average price of $3,140 psf (Photo: Frasers Property)
Dunearn House had a strong start. The much talked about Bukit Timah project moved 56% of its units over launch weekend at an average price of $3,140 psf, showing that demand for well located District 11 freehold-ish product is still very real.
It was one of the most anticipated previews this year. The project drew around 5,900 visitors over its preview weekend ahead of the sales launch, and that crowd has clearly converted into buyers.
Developed by a consortium of Frasers Property, CSC Land Group and Sekisui House, Dunearn House is the first private residential launch in the new Turf City precinct in 33 years. The project has 380 units split into two collections, with three 10-storey blocks fronting Dunearn Road and two 19-storey blocks behind for larger family units.
Pricing was always the big question. Indicative prices during preview started from $1.475 million ($2,799 psf) for a two-bedroom unit, $2.597 million ($2,978 psf) for a three-bedroom, and $3.588 million ($3,030 psf) for a four-bedroom. On actual launch day, the average closed at $3,140 psf, which is slightly above earlier estimates but still seen as reasonable for this part of Bukit Timah, especially when you compare it to River Modern which debuted at around $3,266 psf.
So why did it sell?
Location is the obvious one. Dunearn House sits at 760 Dunearn Road in prime District 11, just a four-minute walk from Sixth Avenue MRT station and it will also benefit from the future Turf City MRT station. For many buyers, it is that rare chance to get into Bukit Timah with an MRT at the doorstep, good schools nearby, and the long term Turf City masterplan to look forward to.
The unit mix also helped. The front Luxury Collection with efficient two and three bedders pulled in younger families and first time Bukit Timah upgraders, while the Pinnacle Collection at the back with larger three and four bedroom plus study units attracted right-sizers from nearby landed estates. It is not trying to be everything, but it covers the two strongest buyer pools in the area.
At $3,140 psf average, some were asking if it is still safe entry. But for District 11, with 99-year leasehold in a new growth precinct and that kind of turnout on day one, most agents on the ground are calling it a solid, confidence boosting result for the rest of the year.
