Irwell Hill Residences about 80 percent of the buyers were Singaporeans

Irwell Hill Residences latest news on its launch weekend, 278 units of City Developments Ltd’s Irwell Hill Residences were snapped up by buyers. This is a 99-year leasehold property in prime District 9.

The average selling price for the condominium at River Valley Road was $2,700/sq ft.

According to CDL, around 80 percent of buyers are Singaporeans. The rest include permanent residents as well as foreigners from China and other countries, such Malaysia, Indonesia, Australia and South Korea.

The units ranged in size from 398 square feet for a studio to 1,582 square feet for a 4-bedroom premium. There were also three penthouses that could be purchased for between 2,185 and 2,605 sq. ft. Prices for apartments ranged from $998,000 for a studio unit up to $4 million for a premium four-bedroom unit with private lift.

CDL stated that all units were popular, with the most well-received being one-bedroom plus study and second-bedroom units. A four-bedroom penthouse with four bedrooms was also sold for more than $9 million or $4,123 per square foot.

CDL Group Chief Executive Officer Sherman Kwek stated that he was delighted by the strong demand for Irwell Hill Residences. This is CDL's first residential launch of the year. This is a reflection of the high demand for thoughtfully-designed properties and well-located properties.

Irwell Hill Residences are located at Irwell Bank Road, just five minutes from the upcoming Great World Metro Station and close to the Orchard Road shopping area.

Two 36-storey towers are part of the condominium. The facades have a champagne-gold pixel-patterned façade. They were designed by MVRDV, a renowned Dutch architecture firm. The development will contain more than 75 percent of lush greenery, with four raintrees conserved.

CDL was awarded the 137,634 square feet site in a January 2020 government land tender with a bid for $538.9million or $1,515 per plot.

Despite the Covid-19 pandemic, and other economic challenges, Singapore's private housing market has been surprising strong.

GuocoLand has sold 340 units, or more than 60%, of its Midtown Modern Condo in Bugis. Its launch weekend saw 558 units go on sale. Prices averaged close to $2800 per square foot. Swire Properties sold all 20 units in Eden, its ultra-luxury condo at Draycott Park, to the Tsai family, Taiwanese snack food giant Want Want, for $293 million.