Nava Grove achieves 65% sales on launch weekend at an average price of $2,448 psf
By Cecilia Chow
/ EdgeProp Singapore |
The crowd at the launch weekend of Nava Grove, where 65% of the units were taken up at an average of $2,448 psf (Photo: MCL Land/Sinarmas Land)
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On Nov 17, joint developers MCL Land and Sinarmas Land announced that 359 out of the 552 units at Nava Grove had been sold, reflecting a 65% take-up on its launch weekend. The project achieved an average price of $2,448 psf.
The joint developers commenced sales bookings for Nava Grove on Saturday, Nov 16. "The positive response to Nava Grove's launch weekend reaffirms the strong appeal of this exclusive, nature-infused enclave," said John Simpkins, CEO of MCL Land.
Units range from two- to five-bedrooms. Two bedrooms start from 624 sq ft, with prices starting from $1.388 million ($2,224 psf). Three bedrooms begin at 947 sq ft and are priced from $2.188 million ($2,310 psf). Four-bedroom units start from 1,335 sq ft, with prices upwards of $2.988 million ($2,238 psf). There is also a stack of four-bedroom dual-key units of 1,464 sq ft, priced from $3,468 million ($2,369 psf). Four-bedroom premium units with private lifts are 1,550 sq ft in size and priced from $3.588 million ($2,315 psf). Five-bedroom premium units with private lifts are 1,722 sq ft each, priced from $3.988 million ($2,316 psf).
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The three towers of Nava Grove occupy a footprint of less than 20% of the total site area (Photo: Samuel Isaac Chua/EdgeProp Singapore)
"The remarkable take-up rate of Nava Grove reflects strong confidence in its unique attributes—proximity to the Core Central Region (CCR) and attractive pricing," says Ken Low, managing partner of SRI. "We saw a good mix of investors and homeowners, with strong sales across all unit types, from two- to five-bedroom units."
Nava Grove is situated at Pine Grove in District 21, within the Rest of Central Region (RCR). SRI's Low attributes the strong sales performance to "a compelling product offering, efficient layouts, modern luxurious finishes, and excellent views both internally and towards the Clementi Forest".
Low adds that with a building footprint covering less than 20% of its 269,522 sq ft, 99-year leasehold site, residents will enjoy expansive landscaped grounds and comprehensive facilities.
"As one of the last new launches for 2024, Nava Grove's success wraps up the year on a highly positive note," says Low. "It demonstrates robust demand and buyer confidence in the primary segment of our real estate market."
Around 83% of the two-bedroom and 71% of the three-bedroom units were sold (Photo: Samuel Isaac Chua/EdgeProp Singapore)
According to ERA Singapore CEO Marcus Chu, buyers include professionals in their 30s and 40s, as well as affluent families from the landed housing estates of Holland Road, Mount Sinai, and Leedon. The most popular units were the two- and three-bedrooms priced below $2.5 million, notes Chu. For buyers who are right-sizing from landed homes, the larger four- and five-bedroom units were preferred.
Mark Yip, CEO of Huttons Asia, says around 83% of the two-bedroom and 71% of the three-bedroom units were sold. "Many buyers went for the premium units, showing a willingness to pay more to stay in this private residential enclave."
Next door to Nava Grove is the 520-unit Pinetree Hill. In the launch of its second phase in September, 72 units were sold at a median price of $2,501 psf. In October, another 71 units were sold at a median price of $2,541 psf. Pinetree Hill is, therefore, 73% sold to date at an average price of $2,461 psf.
Latest transactions at Pinetree Hill
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"Nava Grove has done exceptionally well, with 65% of the units sold, despite competition from the neighbouring project, its sales momentum in recent months, and the fact that it's not near an MRT station," says Ismail Gafoor, CEO of PropNex.
Employment hubs like Jurong Lake District, one-north and Singapore Science Park are within a short driving distance. The Orchard Road shopping belt is also nearby. "The location offers residents quick access to employment hubs, a diverse array of dining options and various recreational activities," says Christine Sun, OrangeTee Group chief researcher and strategist. "Properties in District 21 are particularly sought after by expatriates due to their accessibility and proximity to esteemed educational institutions."
Margaretha Widjaja, Sinarmas Land's executive director and vice-chairman of Sinar Mas Land Indonesia Division, looks forward to Nava Grove, the firm's first residential project in Singapore, becoming "a cherished home for those seeking an elevated lifestyle in the city".
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