The second new private residential project Hudson Place Residences in the Media Circle area went on sale on Saturday (May 16), selling a total of 61% in the first weekend, with an average transaction price of 2,458 SGD per square foot.

MOGUL.sg's chief researcher, Mai Junrong, stated in an interview that the project is more than 1 kilometer away from two nearby subway stations, and the first weekend's performance is quite good: "I believe that investors contributed a significant portion of the purchasing demand."

Hudson Place Residences is jointly developed by Qingjian Realty, Forsea Holdings, CYZ Land, and Jianan Capital. It is the developers' second project in the Media Circle area, expected to obtain the Temporary Occupation Permit (TOP) in the third quarter of 2029.

The project consists of two residential buildings, 23 and 15 stories high, with a 99-year leasehold, comprising a total of 327 units. The unit types range from two-bedroom to four-bedroom, including five penthouse units, with sizes ranging from 646 square feet to 2,196 square feet.

Among them, the 893 square foot three-bedroom units sold out in the first weekend, while 88% of the 1,152 square foot four-bedroom units were sold, along with one penthouse unit. 99% of the buyers are Singapore citizens or permanent residents, including singles, young couples, and families.

Huttons' senior data analytics director, Li Side, pointed out that the sales rate of Hudson Place Residences in the first weekend was higher than that of the developers' first private residential project in Media Circle, Bloomsbury Residences, indicating that buyers' acceptance of this emerging residential area is continuously increasing.

Strong Rental Demand and Investment Appeal

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Media Circle's new project Hudson Place Residences previewed on Friday, with prices above 2,200 SGD Deng Jia is no longer considered "Ulu," with the first private residential project nearly sold out

Li Side also believes that One-North has a knowledge-based employment scale of about 50,000 people, with strong leasing demand. The average rent in the area is about 10% higher than that in Dover, coupled with the development of Kampong AI, Hudson Place Residence has considerable investment attractiveness.

He added, "Given the limited supply of new homes in the Rest of Central Region (RCR) and the possibility of higher-priced projects in the future, sales of Hudson Place Residences are expected to maintain steady growth in the coming months."

PropNex President Feng Jingxiang said that compared to other recently launched new private residential projects, the average selling price of this project is very attractive, mainly due to the lower land cost in the area.

Feng Jingxiang expects that as land and construction costs rise, the selling prices of other new projects in the Rest of Central Region launched later may be about 20% to 30% higher than the current transaction price of Hudson Place Residences.

ERA President Zhu Yongqiang said that the market launch of Hudson Place Residences coincided with the government's announcement of modifications to the executive condominium (EC) policy: "Although this project is a private residence, the broad policy changes have affected the overall buyer sentiment in the market. We are indeed seeing strong performance from buyers upgrading from HDB flats, with many looking to transition to private residences."