THE Hill @ One-North sold about a third or 43 units on the first booking day, a take-up rate an industry watcher described as one of the lowest for the first weekend of launch among major private residential projects put on the market this year.

The units – sold at an average price of approximately S$2,595 per square foot (psf) on Saturday (Apr 20) – were mainly two-bedroom (732 to 893 sq ft), two-bedroom + study (753 to 958 sq ft), three-bedroom (947 to 1,227 sq ft) and three-bedroom + study apartments (1,012 to 1,259 sq ft), a project spokesman said on Sunday (Apr 21).

The 142-unit Hill @ One-North also features four-bedroom (1,227 to 1,410 sq ft) units and five commercial units. Temporary Occupation Permit is expected to be obtained in December 2026.

Singaporeans accounted for 86 per cent of the homebuyers with the rest being permanent residents and foreigners for the 99-year leasehold project located at Slim Barracks Rise.

Nicholas Mak, chief research officer of Mogul.sg, said the “muted” sales at The Hill @ One-North developed by Kingsford Real Estate Development could be due to the prices being higher than the S$2,427 psf at the nearby Blossoms by the Park.

The analyst at the property portal noted that the developer has sufficient time to sell all the units before the Additional Buyer’s Stamp Duty deadline kicks in 2026, and may not be inclined to lower prices.

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That the launch take-up rate at The Hill @ One-North was lower than that of Blossoms by the Park was not entirely unexpected and was “decent”, said PropNex chief executive Ismail Gafoor.

Blossoms by the Park sold more than 70 per cent of the 275 units when it was launched in April 2023.

Said Gafoor: “We think the market sentiment has turned a lot more cautious now, with easing home sales, buyers’ fatigue, and perhaps a general lack of impetus for buyers to act.”

The Hillshore, meanwhile, sold three of the 59 units at launch on Saturday, said a statement by Huttons Asia on the freehold development in Pasir Panjang.

PropNex’s Gafoor said that sales at boutique developments, being niche products, tend to be more gradual as they appeal to a certain segment of buyers who may prefer the “more tranquil and exclusive” living environment as there are fewer units in the project.