Huttons’ Yip adds that it is also just 8 km away from the CBD. With the completion of phase one of the Greater Southern Waterfront, he expects prices in the neighbourhood to appreciate significantly.

Freehold private condo launch Terra Hill saw a successful weekend sales over Feb 25-26, where 102 units, accounting to 38%, were sold at an average price of $2,650 psf. Located at the top of Yew Siang Road, off Pasir Panjang Road, Terra Hill is the first freehold project in the Rest of Central Region (RCR) since 2023.

The previews of the project witnessed over 10,000 visitors to the sales gallery on South Buona Vista Road. As the developer revealed in a public statement, the balloting and booking exercise for Terra Hill held on Feb 24-25 saw an enthusiastic response.

PropNex Realty CEO Ismail Gafoor shares that the developer had targeted to sell 100 units from the beginning of the launch and was successful in meeting that expectation, setting a new benchmark price.

In comparison to last year, where new project launches achieved 70-85% sales, Gafoor estimates this year to yield an average of 35-40% sales on the launch weekend. This is attributed to higher interest rates and market uncertainty. CEO of Huttons Asia Mark Yip shares a similar view, stating that the weekend sales were within expectations.

Interest in Terra Hill was driven by the availability of larger sized residential units compared to the URA mandated 100 sqm unit size for non-leased projects outside the Central Area. A total of 240 units make up the Signature Collection which offers two-, three- and four-bedroom units ranging from 624 sq ft to 1,862 sq ft.

The Prestige Collection comprises 30 exclusive units, with 24 four-bedroom units of 1,894 sq ft and six 5-bedroom duplex penthouses of 3,035 sq ft, priced above $2,850 psf.

As to the neighbourhood, the last new launch of a freehold development in the vicinity was the 120-unit Bijou in 2014. Completed in 2018, it is located right opposite Pasir Panjang MRT station.

Surrounded by places of employment and higher learning, Terra Hill is eight kilometres away from the CBD and a four-minute walk to the Pasir Panjang MRT station on the JCube Residence Circle Line, which will be completed in 2026. This factor, coupled with the completion of phase one of the Greater Southern Waterfront, is expected to drive property prices up significantly.

The majority of the buyers at Terra Hill are residents from the western side of Singapore, with a mix of investors and owner-occupiers looking to partake in the potential growth the region has to offer.