Kenny's Take
Thomson Reserve's preview pricing is this week's clearest test of what Upper Thomson buyers will pay for a scale launch, and the early read is a premium, not a bargain. Starting from $2,608 psf for its smallest two-bedder, the project prices 13.4% above Jadescape and 11% to 21% above its other RCR neighbours on a psf basis, even though it sits only about 3% above the latest resale deal at the old Thomson View it replaced. For anyone weighing this against a resale unit in the same postcode, that gap is buying scale and a long runway to TOP, not an entry discount. Away from new launches, Pek Chuan Building's $80.68 million collective sale at a modest $1,124 psf ppr land rate shows capital still chasing smaller commercial redevelopment sites even as big residential land tenders draw thinner bids, and November's BTO slate puts a rare 1,430-flat tranche on top of Caldecott MRT in mature Toa Payoh — supply that upgraders weighing HDB versus resale should watch before committing to a resale purchase in that corridor.
🏗️ Thomson Reserve Previews At A Premium, Not A Discount
- Thomson Reserve's preview pricing starts from $2,608 psf for a 592 sq ft two-bedder (about $1.54 million), running through to $3.388 million for a four-bedder. Previews opened 17 October and run through 27 October, with booking day set for 31 October 2026.
- On a psf basis, that starting price sits 13.4% above neighbouring Jadescape and 11% to 21% above its other RCR neighbours — but only about 3% above the latest resale transaction at the old Thomson View condominium it replaced. The gap between those two comparisons is the story: this is priced as a long-hold scale launch against other new developments, not as a bargain against the resale market it grew out of.
🏛️ Pek Chuan Building's Collective Sale Closes At A Modest Land Rate
- Pek Chuan Building, a commercial corner site at 116 Lavender Street, has been sold to GH15 Ventures for $80.68 million after a public tender that closed 7 October and drew three bids. The price works out to roughly $1,124 psf ppr on the 28,700 sq ft site, which carries 56 years left on its lease and sits within a five-minute walk of Bendemeer MRT.
- The modest land rate stands in contrast to the thin, cautious bidding seen on bigger residential GLS tenders this month — a sign capital is still willing to chase smaller commercial redevelopment plays even as appetite for large residential land cools.
🏠 November's BTO Slate Brings Rare Supply To Caldecott
- Singapore's November BTO exercise will offer 7,970 flats across seven projects, the largest tranche this year, after being pushed back a month to account for recent policy changes. The headline sites are two Bayshore developments (860 and 1,640 flats) in the waterfront East Coast precinct and a 1,430-flat project sitting directly on top of Caldecott MRT in Toa Payoh.
- Caldecott's flats matter beyond their count: new BTO supply in mature Toa Payoh has been scarce, and this tranche gives upgraders in that corridor a fresh HDB option to weigh against resale before committing.