Thomson Reserve sold 1,143 of its 1,268 homes over its launch weekend from 31 October, more than 90 per cent, at an average of $2,900 psf. That is according to its developers, UOL Group and CapitaLand Development, as reported by The Edge Singapore. Huttons calls it possibly the best-selling launch ever for a project of more than 1,000 units.
Before the launch, Roov set the developer's price list against resale nearby. Now that the weekend's results are in, here is what $2,900 psf says about the land, the neighbourhood and the launches still to come.
The weekend in numbers
• Sold: 1,143 of 1,268 homes, at an average of $2,900 psf. • Demand: more than 3,300 cheques before booking day, after a record 32,000 visitors over two preview weekends. • Buyers: about nine in ten will live in the home themselves, and about 30 per cent gave an HDB address, Huttons estimates. Most come from Districts 19 and 20. • Families: 215 units went in multiple purchases, with relatives buying near each other. • Left: only two-bedders, two-bedroom premium units and the five-bedroom suites with private lifts. The three-bedroom premium and four-bedroom units with private lifts went first.
The same developers' last two launches did similar numbers on day one. ParkTown Residence in Tampines sold 87 per cent and Skye at Holland about 99 per cent.
It sold for more than its land implies
Thomson Reserve stands on the former Thomson View condominium, bought en bloc in late 2024 at about $1,178 psf ppr. On that land, Roov's model of building cost, stamp duties, financing and a 20 per cent developer margin points to a launch price of about $2,580 psf. Buyers paid $2,900, roughly 12 per cent more. (Our guide to land bids and launch prices explains how the model works.)
That gap is the story. The developers priced for the market as it is today, not for what their land cost two years ago, and the market paid. Land in the area has become dearer since: the Lorong Puntong site at Sin Ming, a few minutes away, went for a record $1,612 psf ppr in September. On the same model, that land implies a launch of about $3,240 psf.
What it does to resale nearby
The comparison many buyers make is with the resale condos around it. Over the last 12 months, Roov's records show:
• Jadescape: 65 resales at a median of about $2,300 psf. • Thomson Three: 24 resales at about $2,160 psf. • Sky Everton, freehold: 10 resales at about $2,930 psf. • District 20 as a whole: 569 condo resales at a median of about $2,010 psf.
So a new home at Thomson Reserve costs about a quarter more per square foot than a Jadescape resale. Part of that gap is how floor area is measured. Thomson Reserve's sizes leave out air-conditioner ledges, while older projects such as Jadescape count them, so their psf reads lower for the same living space. Our guide to floor-area harmonisation shows how to compare them fairly.
ERA expects some buyers who missed out to look at resale homes nearby instead. ERA also notes that Jadescape's median resale psf rose about 5.6 per cent between 2023 and 2026. A sell-out launch does not lift resale prices by itself. But it does show how many buyers want this neighbourhood, and resale homes there can now be measured against a $2,900 psf new launch.
So, for you
If you bought this weekend, the payments are progressive until vacant possession, expected in February 2031. Roov's progressive payment tool shows each stage against your cash and CPF, so nothing comes as a surprise.
If you missed out, what is left is mostly two-bedders and the large five-bedroom suites. Other launches are coming nearby. The Upper Thomson Road (Parcel A) site near Springleaf, bought in 2025 at about $1,062 psf ppr, is among the projects expected in 2027, and its land implies a launch nearer $2,400 psf on our model. A resale home nearby is also worth comparing, and Roov's resale versus new launch comparison puts the two side by side over your holding period.
If you own a condo in District 20, this weekend showed there are plenty of buyers for the area. If you are thinking of selling, the stay or sell tool shows what you would walk away with, and the market tool shows the latest resale prices in your project. If you are upgrading from an HDB flat in Bishan or Ang Mo Kio, the upgrade planner helps you decide whether to sell first or buy first.
We also looked at whether new launches are heading for $3,500 psf. Thomson Reserve suggests buyers in good locations will pay what this year's land costs.
Missed Thomson Reserve, or weighing a resale home in District 20 against the launches coming next? Roov's agent can run the numbers with you. Get in touch.