Tengah Garden Residences Sells 853 Units At $2,120 PSF; Vela Bay Hits 72% At $2,886 PSF

Tengah Garden Residences is the third new project so far this year to achieve a near sell-out performance during its opening sales weekend. The 863-unit development sold 853 units and achieved an average selling price of $2,120 psf after launching over the April 25 and 26 weekend. Read our full review of Tengah Garden Residences here.

The condo has set the record this year with the largest number of units sold at a new private residential launch to date. All of the units were sold out, except for 10 of the largest configuration – the Four-Bedroom Premium with Yard.

Jointly developed by Hong Leong Holdings, GuocoLand, and CSC Land, the development is the first new condominium to break ground in Tengah in District 24, the newest residential precinct in the West.

Units were transacted at prices ranging from $1,779 psf to $$2,340 psf, and Singaporeans accounted for 90% of the total number of purchasers, according to a joint statement by the developers released this afternoon.

Prices started from $980,000 ($2,025 psf) for one-bedroom units, and $1.11 million ($1,779 psf) for two-bedders, followed by three-bedroom units, which were sold from $1.588 million ($1,993 psf). Meanwhile, four-bedders were priced from $2.28 million ($2,025 psf).

“The strong response to Tengah Garden Residences reflects healthy buyer confidence in Tengah as an emerging residential precinct with long-term value,” says Betsy Chng, head of sales and marketing at Hong Leong Holdings.

Based on early reports from agents at the sales gallery, Stacked understands that just over half of the units were snapped up on Friday, April 24, during an initial sales phase for VVIP, loyalty, and multi-unit purchasers. This did not include purchases by property agents.

Tengah Garden Residences is not just another launch – it represents the first opportunity for buyers to enter Singapore’s newest town at an early stage, says Marcus Chu, CEO of ERA Singapore. “In markets like this, timing matters. Early entrants are effectively positioning ahead of future infrastructure, pricing benchmarks, and the town’s full transformation,” he says.

The development’s direct connection to the future Hong Kah MRT station on the Jurong Region Line, which is scheduled to be operational in 2029, added to the appeal of the condo. Buyers also likely considered the spillover benefits from the ongoing master planned development of the nearby Jurong Lake District, which will be the largest mixed-use business district outside of the city centre.

“We are seeing buyers draw parallels with early-stage Punggol and Bidadari. These were once emerging towns – today, they are established residential hubs. Tengah is expected to follow a similar trajectory over the next decade as infrastructure and amenities take shape,” says Chu.

Demand for units at Tengah Garden Residences stemmed from HDB upgraders and rightsizers from towns in the West, particularly Bukit Batok, Jurong, and Choa Chu Kang, and Bukit Panjang, according to the developers.

 “What stands out is that buyers are increasingly comfortable entering new townships early, as long as there is a clear development roadmap”.

As the first private residential development in Tengah to hit the market, the successful launch of Tengah Garden Residences also set the price benchmark for future condos in this emerging residential precinct, as well as the private home market in District 24.

Market watchers like Mohan Sandrasegeran, head of research and data analytics at SRI, say that the take-up rate was largely expected given the success of previous launches, which comprised executive condos (EC) and build-to-order flats.

He is referring to the sales at Copen Grand, Novo Place, and Otto Place. “This suggests that occupier and upgrader demand has already been established and is now transitioning into the private housing segment,” says Sandrasegeran.

Justin Quek, deputy group CEO of Realion (OrangeTee & ETC) Group, points out that the price quantum of units at the Tengah Garden Residences remains within the sweet spot of HDB upgraders, with prices of most units falling within S$2.5 million.

“With around 7,500 four-room and five-room flats reaching their MOP between 2022 and 2026 from nearby towns like Bukit Batok and Bukit Panjang, many buyers could have been HDB upgraders from these towns,” says Quek.

The latest sales result reinforces an exceptional start to the new launch market in 2026. This weekend also saw an exceptional sales result at the launch of Vela Bay, a new 515-unit development by SingHaiyi and Chuan Capital, in the new Bayshore precinct on the East Coast. That project sold 371 units (72%) on April 25, and set an average selling price of $2,886 psf. Read our full review of Vela Bay here.

Vela Bay’s strong performance also reflects a healthy response for a first-mover project within a newly emerging precinct, says Sandrasegeran. Buying demand has largely been driven by the projects’ one- to three-bedroom unit configurations, which have recorded strong absorption rates.

About 83% of the units sold at Vela Bay are two- and three-bedroom units. “This suggests that buyers are gravitating towards more efficient layouts and relatively accessible entry points within the development,” says Sandrasegeran.

Vela Bay also marks the first new condo in this part of the East Coast in more than 20 years, with the last new project being Costa Del Sol in 2000. The limited supply of new private housing created pent-up demand that contributed to its strong sales performance.

“We believe the demand catchment for Vela Bay is substantial, including HDB upgraders in the East, owner-occupiers drawn to the seaside location, those right-sizing from landed or larger homes, and investors targeting long-term rental appeal as the Bayshore area may be popular with renters,” says Kelvin Fong, CEO of PropNex.

Other near sell-out launches so far this year are Rivelle Tampines, a 572-unit EC that moved 529 units (92.5%) by the end of its first day of sales on March 21. The development is now fully sold after its second-timer ballot concluded on April 25. This is the second EC in Tampines to sell out during the second ballot exercise, after Aurelle of Tampines in 2025.

The launch of that EC was followed by the sales launch of Pinery Residences, which also sold 92.5% of its units throughout its opening sales weekend on March 28 and 29. The 588-unit mixed-use project, jointly developed by Hoi Hup Realty and Sunway MCL, set an average selling price of $2,546 psf and saw all of its two-bedroom units sold.

Chu points out that developments with retail components have tended to achieve stronger take-up rates due to the convenience they offer for daily life – this applies to Pinery Residences as well as Tengah Garden Residences, which includes a 30,000 sq ft retail component.