It is the first private residential project in Woodlands since 2012, market watchers pointed out.
SINGAPORE - Woodlands residential project Norwood Grand sold 292 units, or 84 per cent of its 348 units, over its launch weekend, at an average selling price of $2,067 per sq ft .
Mr Nicholas Mak, chief research officer at real estate technology platform Mogul.sg, noted that Woodlands is the fourth-biggest Housing Board estate with 72,000 HDB flats – and therefore has a large pool of potential HDB upgraders. “Many buyers saw the potential in the upcoming Woodlands Regional Centre, Woodlands North Coast, RTS Link and the Johor-Singapore Special Economic Zone,” said Huttons’ Mr Yip. RTS Link refers to the Rapid Transit System Link project between Johor Bahru and Singapore, which is due for completion by end-2026.
“Some of the buyers who could not purchase the units that they at Norwood Grand may explore the resale condominium market,” he said.
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