Faber Residence Achieves 86 Sales Average Price 2160 Psf

SRI: 1H2025 new home sales exceed expectations; full-year numbers to reach 9,000–10,000October 21, 2025 saw the launch of two highly-anticipated private residential projects: Penrith at Margaret Drive, featuring 462 units, and Faber Residence at Faber Walk, with 399 units located off Jalan Lempeng in Clementi Avenue 6.The joint developers of Penrith, 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 psf. Similarly, Faber Residence, a joint venture between GuocoLand and Hong Leong Holdings, reported strong sales with 344 units (86%) taken up during the launch weekend at an average price of $2,160 psf.Learn more about the available units and prices for Faber Residence here.AdvertisementCombined, these two projects sold over 790 units during the weekend of October 18-19, a significant achievement for the developers. According to GuocoLand, the majority of buyers were Singaporeans and Permanent Residents, with most being owner-occupiers. Dora Chng, residential director of GuocoLand, attributed the high sales to the project’s attractive location with its riverfront setting, proximity to established schools, and direct access to the Ulu Pandan Park Connector.Faber Residence marks the final Outside Central Region (OCR) project of 2025, and its strong sales are a testament to the resilience of mass-market housing demand in Singapore, according to Kelvin Fong, CEO of PropNex. “We believe the sensitive pricing and the project’s location advantages played a key role in attracting buyers,” he says.The average price of $2,160 psf at Faber Residence is considered competitive, with many buyers seeing value in the development. Fong points out that new non-landed private homes in the OCR, excluding executive condominiums, have averaged around $2,275 psf this year, based on lodged caveats. The two-bedroom units at Faber Residence start from $1.28 million, while the three-bedroom units begin at about $1.57 million. Fong notes, “They sit squarely within the ‘sweet spot’ of under $2.5 million, a price range that appeals to many households. We observed that all 80 two-bedroom and 199 three-bedroom units were fully sold.”Mohan Sandrasegeran, head of research and data analytics at SRI, credits the impressive sales figures to the project’s competitive entry price, which was supported by favourable land costs. “The developers acquired the site at about $900 psf per plot ratio (ppr), significantly below other OCR plots such as Bayshore and Chuan Grove, which crossed the $1,300 psf ppr threshold,” he says. “This enabled them to offer a compelling price point for buyers seeking value in a mature, well-connected estate.”Read also: Penrith achieves 97% sales on launch day at an average price of over $2,800 psfAdvertisementAdvertisementMark Yip, CEO of Huttons Asia, believes that the strong response to the project is not surprising, considering 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 adds. Yip also notes that market sentiment remains positive, buoyed by lower interest rates, improving economic conditions, and a steady pipeline of affordably priced launches. He says, “The positive momentum in the property market has continued, driven by pent-up demand and ample liquidity.”Source: SRI Research and Data AnalyticsThe project’s proximity to Nan Hua Primary School, one of Singapore’s most sought-after schools located within 1km of the site, was another factor that attracted families to Faber Residence. Yip comments, “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.” This is reflected in buyer trends, with compact two- and three-bedroom units being the most popular choices.Faber Residence also offers excellent connectivity, being within walking distance of the upcoming Jurong Town Hall MRT Station on the Jurong Region Line, and close to the Ayer Rajah Expressway (AYE) and Pan-Island Expressway (PIE). Its close proximity to Singapore’s second CBD positions it to benefit from the government’s long-term transformation of the Jurong Lake District. “The location will appeal to professionals who value both convenience and connectivity,” says Marcus Chu, CEO of ERA Singapore.The success of the launch adds to a string of well-received OCR projects this year, indicating a renewed buyer confidence. According to SRI’s Sandrasegeran, 3,811 new private homes were sold in the first nine months of 2025, more than double the 1,952 units transacted in the same period last year. This positive trend is also seen in sales performance for Faber Residence, with the strong response from buyers.

If you are someone who appreciates dining in picturesque or unconventional environments, look no further than the Orchid Country Club, located nearby. This club boasts a variety of restaurants and cafes, many of which offer stunning views of the golf course or Seletar Reservoir. These scenic backdrops create a serene and enjoyable dining atmosphere. In addition to these options, there are also Chinese seafood restaurants, bistros, and lounges in the vicinity that cater to both residents and club members. And for those interested in living close to such fine dining, check out the luxurious Miltonia Close residences.