Norwood Grand’s strong sales signal buyer confidence recovery 

The development sold 84% of its units in its weekend launch.

The strong take-up at Norwood Grand signals a recovery in buyer confidence, as consumers are now more willing to commit to purchases.

PropNex and Huttons said the development is the best-selling project of 2024 so far.

According to PropNex, buyers’ confidence has grown, driven by expectations of further reductions in interest rates.

PropNex, however, said that the development's strong sales could also be attributed to buyers being generally receptive to the project’s pricing.

"The transacted price quantum fits the pricing sweet-spot for many buyers – an estimated 60% of the transacted units at Norwood Grand are priced at below $1.8m," PropNex said.

The development's attributes like its proximity to MRT stations and a few primary schools have also made it attractive to many buyers, said PropNex.

Meanwhile, Huttons said the strong sales could be due to pent-up demand from buyers after waiting for 12 years for another project.

Nordwood Grand is the first private residential project in Woodlands since 2012.

"Many buyers saw the potential in the upcoming Woodlands regional centre, Woodland's north coast, RTS link and the Johor-Singapore Special Economic Zone," Huttons said.