Summary

By the close of its first weekend, The Orie had moved 668 of 777 homes, translating to 86% sales at $2,704 psf on average. It stands on a 99-year leasehold plot and is helmed by the CDL-led consortium with 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.

A consortium made up of City Developments Ltd, Frasers Property, and Sekisui House credits the robust launch results to the long wait for a new condo in this well-established area. Nine years have passed since the most recent unveiling, boosting interest now.

Location and Timeline

Set to complete in 2030, The Orie coincides with the planned opening of the Toa Payoh Integrated Development. Positioned only five minutes on foot from Braddell MRT, it offers quick access to daily conveniences and transport links.

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

The project attracted those eager to stay central. Chu notes that last year, 1,035 HDB resale flats sold for $1 million or more, with 14% of those sales in Toa Payoh, underscoring the estate’s popularity among property seekers.

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.

With prices starting at $1.28 million, the one-bedroom plus study layouts sold well among those seeking a central location or a rental-friendly option near established amenities.

These core unit types, two- and three-bedroom varieties, saw the fastest uptake. Buyers paid approximately $1.48 million at the lower end for a two-bedroom, with upper-range three-bedders passing $3 million.

Many families and extended households sought the dual-key and four-bedroom layouts. Dual-key flats cost between $2.75 million and $3.092 million, while the majority of four-bedroom homes, priced at $2.92 million to $3.452 million, were also snapped up.

More than half the four-bedroom premium plus study (1,367 sq ft) and close to 60% of the five-bedroom units (1,453 sq ft) were sold, priced from $3.28 million to $3.998 million. These larger units cater to multi-generation families or those wanting extra space.

Market Impact and Outlook

Gafoor believes these sizable weekend sales at The Orie and Bagnall Haus overshadow earlier monthly figures, confirming robust buyer sentiment. He expects continued strength with more launches set for early 2025.

Further launches in February and March could keep 1Q2025 home sales on pace. Gafoor attributes the buoyant sentiment to favorable conditions following US Fed rate cuts and the anticipation of fresh properties entering the market.

With The Orie’s success, Natarajan suggests that other developers might expedite their new projects to tap into positive market conditions. Still, he cautions that a surge in prices elevates the risk of policy measures.

Conclusion

For potential homeowners or investors eyeing a mature estate with proven resale value, The Orie demonstrates how location and timing can spark overwhelming buyer response.


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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.