Faber Residence Achieves 86 Sales Average Price 2160 Psf
Singapore property investment sales rebound to $9.28 billion in Q2 2025Updated: 20 Oct 2025, 10:45H
On the weekend of October 18 and 19, two private residential projects were launched, namely the 462-unit Penrith at Margaret Drive and the 399-unit Faber Residence at Faber Walk in Clementi Avenue 6. The joint developers Hong Leong Holdings, Hong Realty, and GuocoLand announced that as of 4pm on October 18, 447 units (97%) had been sold at an average price of over $2,800 per square foot (psf) at Penrith. Similarly, Faber Residence, a joint venture between GuocoLand and Hong Leong Holdings, reported robust sales with 344 units (86%) taken up over the launch weekend at an average price of $2,160 psf. These two projects sold a total of more than 790 units, indicating a significant showing for the developers.
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According to GuocoLand, the majority of buyers were Singaporeans and Permanent Residents, most of whom were owner-occupiers. Dora Chng, residential director of GuocoLand, attributes this to the location’s riverfront setting, proximity to established schools, and direct access to the Ulu Pandan Park Connector. The launch of Faber Residence also marks the final Outside Central Region (OCR) project for 2025.
“The strong sales are a testament to the resilience of the mass-market housing demand in Singapore,” says Kelvin Fong, CEO of PropNex. “We believe that the sensitive pricing and the project’s location advantages played a key role in attracting buyers.” At an average price of $2,160 psf, many buyers likely saw value in the development. Fong notes that new non-landed private homes in the OCR (excluding executive condos) have averaged around $2,275 psf this year, based on lodged caveats.
Given the price range, two-bedroom units at Faber Residence started from $1.28 million while three-bedroom units began at around $1.57 million. “They fall under the sweet spot of below $2.5 million, an attractive range for many households,” says Fong. “We observed that all 80 two-bedroom units and 199 three-bedroom units were fully sold.”
Mohan Sandrasegeran, head of research and data analytics at SRI, attributes the strong sales to its competitive entry price, supported by favourable land costs. “The developers had acquired the site for about $900 psf per plot ratio (ppr), significantly lower than other OCR plots such as Bayshore and Chuan Grove which exceeded the $1,300 psf ppr threshold,” he says. “This enabled them to offer a compelling price point for buyers looking for value in a mature, well-connected estate.”
Mark Yip, CEO of Huttons Asia, notes that the strong response is not surprising, given that Faber Residence is the first new project in the Faber Hills area since 2014. “It is probably the last plot of land offering waterfront living in Faber Hills,” he remarks. Yip adds that market sentiment remains positive, driven by lower interest rates, improving economic conditions, and a steady pipeline of affordably priced launches. “The positive momentum in the property market has continued, driven by pent-up demand and ample liquidity,” he says.
Families were also drawn to the project’s proximity to Nan Hua Primary School, one of Singapore’s most sought-after schools located within 1km of the site. “Beyond Nan Hua, Clementi’s education belt spanning from primary to tertiary institutions means families don’t have to move as their children grow up,” adds Yip. Compact two- and three-bedroom units emerged as the most popular choices among buyers, reflecting this family appeal.
Faber Residence also offers excellent connectivity, being within walking distance to the upcoming Jurong Town Hall MRT Station on the Jurong Region Line. It is also close to the Ayer Rajah Expressway (AYE) and Pan-Island Expressway (PIE). Its proximity to Singapore’s second CBD positions it to benefit from the government’s long-term transformation of the Jurong Lake District. Marcus Chu, CEO of ERA Singapore, says, “The location will appeal to professionals who value both convenience and connectivity.”
The successful launch adds to a string of well-received OCR projects this year, underscoring renewed buyer confidence. According to SRI’s Sandrasegeran, a total of 3,811 new private homes were sold in the first nine months of 2025, which is more than double the 1,952 units transacted during the same period last year.