Narra Residences

Project Snapshot

This is the first major residential launch in the Dairy Farm enclave in several years, occupying a 21,881 sqm site between the Bukit Timah Nature Reserve and the developing Tengah precinct.

The project benefits from the scarcity of new supply in this nature-adjacent pocket of District 23, with no competing launches within the immediate 1.5km radius. The developer consortium acquired the site at S$1,020 PSF PPR and launched at a 2.09x land cost multiple, below the market norm of approximately 2.27x for new launches, signalling competitive entry pricing.

As of 30 May 2026, public balance-unit data shows 192 of 540 units sold, or about 35% take-up. The campaign angle remains the entry quantum: 2BR Compact starts from about S$1.262M, while 3BR Flexi starts from about S$1.905M for buyers who need a more family-useful layout.

Location & Connectivity

1. MRT Access Requires Shuttle or Road Connection

The nearest MRT stations are the upcoming Pending station at approximately 960m, Hillview (DT3) at approximately 1.06km, and Cashew (DT2) at approximately 1.12km. None are comfortably walkable for daily commutes, particularly during wet weather. Residents will rely on shuttle bus services, private transport, or feeder buses to reach rapid transit.

2. Bangkit and Petir Stations Serve as LRT Alternatives

Bangkit LRT station is approximately 1.34km away, with Petir at approximately 1.38km. Both connect to Choa Chu Kang MRT on the North-South and North-East Lines. These provide redundancy but do not fundamentally solve the first-mile problem for residents without cars.

3. Expressway Connectivity Favours Private Transport Users

The development is well-positioned for drivers, with access to the Bukit Timah Expressway (BKE) and Pan Island Expressway (PIE) within 3-5 minutes. Commute times to Jurong East, Orchard, and the CBD by car are competitive. This location works best for households with at least one vehicle.

4. Primary School Options Within 800m

CHIJ Our Lady Queen Of Peace (girls school) is approximately 760m away, and Bukit Panjang Primary School (mixed school) is approximately 790m from the site. Both are within the 1km priority admission zone for children meeting eligibility criteria. The area does not have a concentration of top-tier primary schools, but options are functional for families prioritising proximity over brand.

5. Mall and Retail Access is Decentralised

HillV2 is approximately 1.3km away, The Rail Mall approximately 1.35km, and both Bukit Panjang Plaza and Hillion Mall are approximately 1.73km. None are within comfortable walking range. Ground-floor retail at Narra Residences will provide basic convenience, but significant grocery runs or lifestyle shopping require transport.

6. Nature Reserves Define the Character of the Precinct

Bukit Timah Nature Reserve and the Rail Corridor are the defining amenities for this location. The Rail Corridor offers continuous green space for cycling and walking, while Dairy Farm Road provides access to hiking trails. This is a genuine differentiator for buyers prioritising outdoor access over urban intensity.

Sales Performance

Narra Residences has moved to 192 units sold out of 540 as of 30 May 2026, or about 35% sold. This is a healthier read than the earlier Q1 snapshot, but it is still a measured sell-down rather than a runaway launch. The key point is the inventory mix: 2BR Compact remains the lowest-entry hook from about S$1.262M, while 3BR Flexi is the more family-useful option from about S$1.905M but has a tighter balance.

The median PSF of S$2,148 still sits above the District 23 resale median, reflecting new-launch pricing in a precinct with limited recent supply. Buyers are paying for newness, facilities, nature access and layout efficiency rather than direct MRT convenience. For campaign purposes, the strongest message is not simply “35% sold”, but that the lower-quantum and practical family layouts should be checked before the remaining mix shifts further toward higher-quantum formats.

HDB Upgrader Catchment

The primary HDB upgrader catchment spans Bukit Batok, Bukit Panjang, and Choa Chu Kang. Over the past 24 months, 4-room flats in these towns transacted at a median of S$566k, with 3,228 transactions recorded. This translates to typical equity positions of S$350k to S$500k for upgraders who have held their flats for 10-15 years and benefited from price appreciation.

A 4-room upgrader cashing out S$400k in equity can still use Narra’s 2BR Compact entry point, now from about S$1.262M, as the lowest private-home pathway into the project. The 3BR Flexi units from about S$1.905M are more realistic for dual-income households with stronger equity or CPF buffers, while 3BR Premium units from about S$2.067M offer more comfortable sizing but require a higher budget. The quantum positioning is calibrated to the upper end of HDB upgrader purchasing power, which limits the pool of eligible buyers compared to projects in the S$1.5M to S$1.7M range.

Unit Mix & Pricing

Comparables

Narra Residences is priced above both The Myst (S$2,078 median) and Hillhaven (S$2,136 median), despite being in a similar precinct with comparable tenure and accessibility. The premium is modest but notable given that both comparables have already established transaction histories.

Sol Acres and Lumina Grand, located in less nature-adjacent pockets of District 23, transact at significantly lower PSF levels (S$1,470 and S$1,512 respectively), reflecting the valuation gap between precincts within the same district. Narra’s pricing positions it as a newer-vintage alternative to The Myst and Hillhaven, but the premium must be justified by superior unit layouts, facilities, or buyer preference shifts.

Key Strengths

1. Low-Density Living with Genuine Nature Access

The 540-unit scale on a 21,881 sqm site delivers a spacious layout by District 23 standards. The proximity to Bukit Timah Nature Reserve and the Rail Corridor provides tangible outdoor amenity that is difficult to replicate in denser precincts. Families prioritising weekend hiking, cycling, and green space will find this location functional rather than aspirational.

2. Primary School Proximity for Young Families

CHIJ Our Lady Queen Of Peace and Bukit Panjang Primary School are both within 800m, placing eligible children within the 1km priority admission zone. This is a practical advantage for young families with school-age children, though the schools themselves do not carry the brand equity of top-tier institutions.

3. Over 40 Facilities Including 50m Lap Pool

The facilities package is comprehensive, including a 50-metre lap pool, tennis courts, and a golf simulator. These cater to active families and provide differentiation over older resale stock in the area. The ground-floor retail component adds convenience for daily errands, reducing the friction of living further from major malls.

4. North-South Unit Orientation Reduces Heat Gain

The majority of units are oriented north-south to minimise exposure to the western sun, improving natural ventilation and reducing reliance on air conditioning. This design consideration translates to tangible utility savings and improved liveability, particularly in larger units with multiple exposures.

5. Median PSF Below Immediate Comparables’ Upper Ranges

At S$2,148 median PSF, Narra Residences sits between The Myst (S$2,078) and Hillhaven (S$2,136) but below Hillhaven’s upper range of S$2,498. For buyers comparing active listings, this creates a perception of relative value, though the narrow gap suggests limited room for negotiation or discounting.

Points to Watch

1. MRT Access is Fundamentally Compromised Without a Car

The nearest station is approximately 960m away, and none of the surrounding options (Hillview, Cashew, Bangkit, Petir) are within comfortable walking range. Residents without private transport will depend on shuttle buses or feeder services, which introduces friction for daily commutes. This is a structural limitation that will not change unless additional MRT infrastructure is announced.

2. Quantum Pricing Stretches Beyond Core HDB Upgrader Range

The 2BR Compact units starting from about S$1.262M and 3BR Flexi units from about S$1.905M are accessible for upgraders with strong equity positions, but they still exclude many single-income households or younger buyers without significant CPF balances. The 4-bedroom and 5-bedroom units at S$2.448M and above target a narrower segment, which may extend sales absorption timelines.

3. 40% Premium Over District 23 Resale Median Requires Strong Conviction

The S$2,148 median PSF is 40% above the district’s two-year median of S$1,533. While new-launch premiums are standard, the gap is wide enough that buyers must believe in the precinct’s long-term trajectory and the specific advantages of new facilities and layouts. Resale comparisons will become more challenging if market sentiment weakens.

4. Limited Immediate Retail and Lifestyle Amenities

The nearest malls (HillV2, The Rail Mall, Bukit Panjang Plaza) are 1.3km to 1.73km away, requiring transport for most shopping trips. Ground-floor retail will provide basic convenience, but the precinct lacks the walkable lifestyle infrastructure found in more established towns. Families accustomed to Orchard or East Coast accessibility may find this adjustment significant.

5. 99-Year Leasehold Limits Long-Term Capital Appreciation Potential

The tenure starts with 99 years, and the lease decay curve will begin to affect valuations within 20-30 years. For investors holding beyond 15 years, this introduces a capital appreciation ceiling relative to freehold or longer-leasehold alternatives. Own-stay buyers planning to age in place face similar constraints on asset longevity.

6. Joint Venture Developer Lacks Single-Brand Premium Positioning

The four-developer joint venture (Santarli Realty, Apex Asia, Soon Li Heng Group, Kay Lim Realty) brings collective experience but no single premium brand identity. Buyers seeking the pricing power and resale confidence associated with CapitaLand, City Developments, or Hongkong Land will not find that here. This may affect resale liquidity if brand preference strengthens in future market cycles.

Bottom Line

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