Summary
As of January 19, the 777-unit condo had 668 units sold, amounting to 86%, at an average of $2,704 psf. This 99-year leasehold project at Toa Payoh Lorong 1 is developed by CDL, Frasers Property, and Sekisui House.
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.
The developers attribute the swift sales to unmet demand. Toa Payoh has not seen a similar launch for many years, so eager homebuyers jumped on the chance to purchase a fresh unit in this neighborhood.
Location and Timeline
The Orie’s prime spot in Toa Payoh appeals to those who value walkability. With Braddell MRT a short stroll away, upcoming attractions like the Toa Payoh Integrated Development enhance the estate’s appeal.
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
Marcus Chu, CEO of ERA Singapore, observes that plenty of buyers have deep ties to Toa Payoh, including some who grew up there. Upgraders from HDB flats in Toa Payoh or nearby estates made up a noticeable share of sales.
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.
Dual-key formats offer flexible living or rental income, explaining their popularity. Four-bedroom configurations, priced in the high $2 million to mid-$3 million range, likewise had strong acceptance.
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
Ismail Gafoor, CEO of PropNex, notes that over the same weekend, Bagnall Haus and The Orie collectively sold about 740 new homes. This total surpasses the 304 private homes sold throughout January 2024.
PropNex projects an active first quarter in 2025, with momentum continuing after a busy November 2024. Nonetheless, Gafoor cautions that price-conscious buyers will remain selective, prioritizing well-located developments.
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.
Arina East Residences Pricing
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.