The Serra Residences Sells About 22% of the 113 Units Released at an Average of S$3,460 Psf

Prices started from S$2.2 million. The 25 units comprised nine two-bedroom plus study units, two three-bedroom units, seven four-bedroom units, six four- and five-bedroom premium units, and the largest penthouse, a 2,669 sq ft unit on the top floor. About 80 per cent of demand came from buyers purchasing for their own stay. Singaporeans were 75 per cent of buyers, with the rest Singapore permanent residents, including those from Australia, China, the Philippines, Taiwan and the UK. Previews began on 2 October and bookings opened on 16 October.

The developer said the project is the first gross floor area-harmonised new launch in Novena. It is on the former site of Pastoral View and adjoining land at Bassein Road, acquired 16 years ago, within 1 to 2km of several well-known schools and in the medical and healthcare cluster around HealthCity Novena. The nearest MRT station is Novena. Far East said investors may see long-term rental potential in the expanding HealthCity Novena precinct and the upcoming 2 Moulmein Road lifestyle hub.

PropNex’s Kelvin Fong called the sale of 25 units a “sound result”, noting that 70 per cent of units are three-bedroom or larger, which makes the buyer pool “naturally more targeted”. He said buyers have become more selective with big-ticket purchases. Huttons Asia’s Mark Yip said the freehold status is likely to draw buyers, as such projects are scarce. Freehold supply in the Core Central Region has fallen from a peak of 12 projects in 2019 to two in 2026, one of which is The Serra Residences, since the higher ABSD from 2018 to 2023 made successful en bloc sales rare.

Not all analysts were upbeat. Mogul.sg’s Nicholas Mak said asking prices above S$3,250 psf appear “demanding for some buyers”, and pointed to the S$2,741 psf median price of comparable freehold condominium units in the Novena area sold by developers in the past 12 months, including Sanctuary@Newton and 32 Gilstead. He said the slower sales in the CCR are a sign of growing caution among high-end buyers amid geopolitical tension and rising interest rates.

The launch weekend coincided with the public preview of Thomson Reserve, the 1,268-unit project that will be the largest new private residential project to launch in Singapore this year. UOL Group and CapitaLand Development said the first weekend drew a record 11,800 visitors, far exceeding the 10,000 at Parktown Residence. The project’s sales launch is on 31 October.