Narra Residences sells nearly 25% of units at $2,180 psf on launch weekend
The crowd at the launch of Narra Residences over the weekend of Jan 31 - Feb 1 (Photo: Apex Asia)
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Narra Residences, the 540-unit leasehold condominium with four shop units at Dairy Farm Walk, sold 135 units (24.8%) at an average price of $2,180 psf over the launch weekend of Jan 31 to Feb 1. The project marks the first Outside Central Region (OCR) new launch of the year.
As at 4pm on Feb 1, two- and three-bedroom units accounted for about 90% of total sales, while all one-bedroom units were fully taken up.
All four strata-titled shop units were also sold, says Mohan Sandrasegeran, head of research and data analytics at SRI.
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Transacted prices for residential units started from $998,000 for one-bedroom units, $1.176 million for two-bedroom units, and $1.63 million for three-bedroom units. In addition, four of the 61 four-bedroom units were sold, with prices starting from $2.596 million.
These price points largely fall within the typical household budget range of $1.5 million to $2.5 million, notes the developer, Dairy Farm Walk JV Development — a consortium led by Apex Asia Development and Santarli Realty.
Artist's impression of the 540-unit Narra Residences at Dairy Farm Walk (Picture: Apex Asia Development)
Buyers were predominantly local, with Singaporeans accounting for about 90% of purchases, while permanent residents accounted for the remaining 10%.
Most of the units sold were within the $1.5 million to $2.5 million range, observes Kelvin Fong, CEO of PropNex. He adds that the average launch-weekend price of $2,180 psf is “compelling”, compared with the average transacted price of about $2,250 psf for new OCR projects in 2025.
“The pace of sales at Narra Residences appears consistent with a broader pattern observed in this area, where projects tend to see a more measured start before demand builds progressively over time,” says Fong, noting that transactions typically gather momentum in the subsequent weeks and months.
He points to recent launches in the vicinity for comparison. The 460-unit Dairy Farm Residences reportedly sold 35 units during its launch weekend in November 2019, while The Botany at Dairy Farm moved 187 of its 386 units at launch in March 2023. Nearby Hillhaven sold 59 of its 341 units when it was launched in January 2024.
Based on URA Realis caveat data retrieved on Jan 31, 2026, Dairy Farm Residences is fully sold, while only one unsold unit remains at each of Hillhaven and The Botany at Dairy Farm.
According to Justin Quek, deputy group CEO of Realion (OrangeTee & ETC) Group, the take-up at Narra Residences is “encouraging”, given the high proportion of owner-occupiers in the Dairy Farm neighbourhood. He adds that sales momentum in the area has historically been “more measured rather than front-loaded”.
Quek notes that 115 of the 127 residential units sold were two- and three-bedroom units, underscoring buyers’ focus on liveability and long-term suitability. “The project’s differentiation lies in its low-density, nature-integrated positioning, appealing to households that prioritise tranquillity, greenery and longer-term liveability,” adds SRI’s Sandrasegeran.
The tender for a Government Land Sale (GLS) site at Dairy Farm Walk next door closed on Jan 22 with five bids. The top bid of $442 million, or $962 psf per plot ratio (ppr), was submitted by a consortium led by Roxy-Pacific Holdings, which has since been awarded the site.
The newly awarded land parcel also introduces future supply considerations, giving buyers more options to evaluate, says Realion’s Quek. Still, projects in the area have typically seen steady absorption over the sales period rather than sharp initial spikes.
“Buyers continue to be drawn to the area’s proximity to nature, the presence of several nearby primary and secondary schools, and accessibility via Hillview MRT station on the Downtown Line,” Quek adds.
At The Botany at Dairy Farm, launched in March 2023, only one of the 386 units remained unsold as at Jan 31. The next new project launch in the area is not expected for another 15 months following the award of the Dairy Farm Walk GLS site, notes Marcus Chu, CEO of ERA Singapore.
“Narra Residences’ launch coincides with the upgrading window for HDB owners who have met their Minimum Occupation Period (MOP),” says Chu. “These buyers are typically looking to reinvest proceeds from their HDB sales into new private homes within familiar District 23 neighbourhoods.”
Buyer demand was driven mainly by owner-occupiers, families and multi-generational households seeking “a quieter, low-density living environment without compromising on connectivity”, Chu adds.
HDB upgraders from surrounding estates such as Bukit Panjang, Bukit Batok and Choa Chu Kang are a key source of demand. Between 2024 and 2027, more than 3,100 HDB flats in these areas are expected to reach their MOP, forming a potential pool of upgraders for the project.
“These buyers are typically familiar with the Upper Bukit Timah area and are looking to upgrade to private housing while staying within the same broader catchment, close to schools, amenities and established transport links,” says Chu.
Echoing this trend, Mark Yip, CEO of Huttons Asia, notes that buyers with an HDB address accounted for about 30% to 40% of purchasers at Narra Residences, with the remainder from private residential addresses.
“This is likely the only OCR project within a private residential enclave — and the only launch in District 23 — in 2026,” says Yip.
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