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With an amazing 86% sales rate at S$2,160 per square foot, Faber Residence sold quickly and virtually completely. The very coveted District 10 or Bukit Timah area has a strong and selective demand for high-end homes. Its quick selling after launching demonstrates how strong the Singapore real estate market is. Social standing and perceived value impact RCR peripheral buying decisions. The success of Faber Residence demonstrates that buyers are willing to pay more in this market for a developer with a strong reputation, privacy, ease of access, and a desirable location. The project’s S$2,160 average price per square foot places it at the top of the RCR market and establishes a high standard for future development.
The Power of the Bukit Timah Brand and Scarcity
Perhaps the most important element in the project’s success is the location. Faber Residence is located in the coveted Bukit Timah Planning Area, which is renowned for its heritage, academic excellence, and affluent, low-density living. The lack of supply is the primary source of the demand in this case. Bukit Timah’s abundance of Good Class Bungalows (GCBs) and existing private estates gives the area an air of exclusivity that new high-rise structures usually can’t match, in contrast to districts with denser populations.
Faber Residence was able to use this well-known reputation to its advantage. residents who purchase a condo unit also obtain a permanent postal address in District 10, which rich residents in the region often consider as a generational asset. This part of the market probably liked the project’s small size and design, as they usually don’t enjoy the high density and crowdedness of bigger projects. Also, the property’s location makes it easy to go to both the convenience of Holland Village and the peace and quiet of the Bukit Timah region. This makes it a very appealing lifestyle choice that justifies the average S$2,160 PSF price. This pricing is quite important to a market that likes living in a region with a lot of excellent schools and low density. This is a key part of local family wealth planning.
Strategic Connectivity and Educational Pull
People commonly think of the Bukit Timah neighborhood as being exclusive, yet Faber Residence stands out because it has strong, modern connections. The success shows that the market values programs that effectively combine status with usefulness. The property’s closeness to the MRT network is important since it makes it easy to go to both the business centers and the leisure districts. This easy access makes the property much more liquid and appealing to renters, attracting a high-quality group of expatriate tenants who value quick commutes.
However, the magnetic force of the educational cluster cannot be overstated. Bukit Timah is home to some of Singapore’s most reputable primary and secondary schools. For local family buyers, the priority often hinges on securing residency within the one-kilometre radius catchment area of top schools. By tapping into this perennial, emotionally-driven demand, Faber Residence automatically generates a deep, resilient pool of owner-occupiers. This segment is typically less price-sensitive and far more stable than pure investors, lending long-term stability and underlying capital resilience to the development’s value proposition. The S$2,160 PSF price reflects not just the brick-and-mortar quality, but the premium attached to the educational catchment area.
Product and Price: A Masterclass in Market Positioning
The company’s ability to establish pricing and develop a market is shown by how well its sales have done. The developer was accurate when he stated that consumers would be willing to spend an average of S$2,160 per square foot for the items. They sold 86% of them. This suggests that many strategy choices were done properly.
Premium amenities: The building costs S$2,160 per square foot, so you can anticipate nicer amenities inside, such high-quality hardware, meticulous finishing, and smart home capabilities. These days, high-end projects need to be in nice locales and have true product quality that fits the price tag.
Targeted Unit Mix: A well-planned unit mix that appeals to a lot of different types of customers generally sells out quickly. Investors who wanted high rental returns would have liked smaller, cheaper flats. Bigger apartments built for families would have been better for those who own their own homes or are students. For a high average PSF and a lot of volume, this combination must be in balance.
Investor Confidence: The quick sale of properties shows that investors are hopeful about the rental market in the Bukit Timah area. The area’s continued appeal to expatriates, especially those who work in finance or in the adjacent One-North IT cluster, guarantees steady rental income and a low danger of vacancies. Even if interest rates are high, this makes the asset attractive.
There are several reasons why Faber Residence is a success. This is strong evidence that a well-built home in a good location with excellent schools and a unique lifestyle may do better than the market as a whole. It will easily go beyond the S$2,100 PSF benchmark, which shows how much people want to live in Singapore’s best residential areas in style and comfort.
