The Orie at Toa Payoh, a new development by CDL, Frasers Property, and Sekisui House, achieved a remarkable 86% sales rate during its launch weekend. Despite its location outside the Core Central Region, the project commanded an average price of $2,705 psf, prompting discussions among market observers.
The Orie at Toa Payoh has set the tone for 2025 with its rapid sales - it moved 86 percent of its 777 units during the launch weekend. This has prompted some eye-rolling among market watchers, as it achieved a particularly high average price per square foot of $2,705 psf. However, the market has spoken: buyers are interested, and the Toa Payoh location is proving to be a massive draw. \ The Orie is a leasehold, 777-unit project at the junction of Lorong 1/Lorong 4 Toa Payoh .
It's jointly developed by CDL, Frasers Property and Sekisui House. The Orie is within walking distance to Caldecott MRT station (CCL, TEL), and Toa Payoh MRT station (NSL). The average selling price during the launch weekend was $2,705 psf, which is quite striking; this pricing level is typically associated with prime region luxury properties rather than an area like Toa Payoh. In terms of overall quantum, most of the smaller one-bedroom units started at $1.28 million, while three-bedroom units (850 sq ft) reached around $2.09 million. The larger four- and five-bedroom units (approximately 1,216 sq ft and 1,453 sq ft, respectively) were priced at around $2.92 million and $3.48 million. The nearby HDB enclave is well-developed, with the Toa Payoh West Market Centre located close by. One of the other major attractions is the proximity to the HDB Hub, which offers a variety of restaurants, retail outlets, banking services, and more. Another notable feature is that the property appears to be within approximately one kilometre of Raffles Institution; however, this will need to be confirmed later once it is listed on OneMap. The upcoming Toa Payoh Integrated Development may also be a lure, but this is much further down the road in 2030. The Orie sold 668 of its 777 units over the launch weekend, or about 86 percent of units. \This more or less captures the essence of the complaints, and it must be said that they are not unfounded. At over $2,700 psf, buyers could indeed afford a property in the Core Central Region (CCR). There's also a psychological factor at play here, as seeing a non city-centre property hit such price levels is bound to concern some buyers. That said, the real issue in 2025 is that comparing properties based on psf alone no longer provides a meaningful picture, given the evolving priorities of buyers and GFA harmonisation changes. Nonetheless, there are reasons why The Orie can command its price tag: The Orie has seen a lot of pent-up demand. The last notable project in the area was Gem Residences, which was back in 2016 (and Gem Residences can't compare in quality of layout, being older and much less efficient.) Some other projects nearby include Trevista, Trellis Towers, and Oleander Tower; but The Orie is notably newer than them. This also means that Orie has layouts which are more space-efficient, such as two and three-bedders with a dumbbell layout. This makes for a positive contrast against its 2010-era counterparts, which are more likely to have wasteful features like big air-con ledges, planter boxes, bay windows, and so forth. However, we should point out that the dumbbell layout is prominent in the smaller units. The larger units (four and five-bedders) have some long corridors, which are less efficient. That said, we've made a price comparison between The Orie and the surrounding options here. None of the older counterparts besides Trevista seem to even reach the $2,000 psf mark on account of the age gap. By the end of the launch weekend, if you looked at the sales board, you'd see that most of the units sold were two and three-bedders. Sales of the larger units, as well as the dual-key units, saw smaller numbers. As with most properties, a smaller unit tends to have a higher price per square foot, but a lower quantum (and the reverse is true for bigger units.) There are, for instance, one-bedders at The Orie that reached $3,000 psf or more. So it's in part the small sizes of units sold, which are contributing to the high average of $2,700 psf. On that note, realtors also pointed out a surprising turn here: the 850 sq ft three-bedders were highly contested. This is undoubtedly compact for a three-bedder, and it was uncertain if the buyers would accept it; many family buyers tend to look for at least 1,000 sq ft. But in reality, these compact three-bedders sold faster than the two-bedders. In fact, when one of the buyers for the three-bedders dropped out, we heard that a further 77 people balloted for it. This may be due to buyers' better understanding of post-GFA harmonisation rules. Under the new rules, unlivable spaces such as air-con ledges, strata void spaces, etc. no longer count toward the total square footage. For this reason, The Orie's three-bedders may have just as much living space as an older, pre-GFA harmonisation condo
Real Estate Singapore Property Toa Payoh The Orie CDL Frasers Property Sekisui House Development GFA Harmonisation Prices Sales Market Trends
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