Dunearn House sold 56% at $3,140. Now the hard part.
Two hundred and twelve units in a weekend, the three-bedders gone entirely, and an average of $3,140 psf on land the developers paid $1,410 for. The launch worked. The interesting question is the one that starts the day after: this is a fresh 99-year lease on a street where nine of the ten mature neighbours are freehold, and every one of those neighbours is your competition at resale.
Farhan Adenan · 22 Aug 2026 · 9 min read
- 212 of 380 units (56%) sold on the launch weekend of 25–26 July 2026 at an average of $3,140 psf. By mid-August, 151 units remained.
- The three-bedroom and three-bedroom-flexi stacks sold out completely; standard four-bedders reached 89%. Family-sized units led, small units lagged.
- The land cost $1,410 psf ppr — so the launch priced at a 2.23× multiplier, almost exactly the middle of the suburban band.
- The catch is unchanged: $3,140 is a 37% premium over the $2,296 median of ten mature projects within a kilometre — and nine of those ten are freehold.
Launch results as reported for the 25–26 July 2026 opening weekend. Remaining inventory and per-type pricing from the Huttons developer inventory snapshot dated 15 August 2026 (project-level aggregates; absorption is not tracked in that source). Land price from URA Sale Sites (data.gov.sg), parcel awarded 3 July 2025. Resale comparables from POV project records to 15 Jul 2026.
What actually sold, and what did not
Family-sized units cleared. Small units did not.
Exhibit 1. 56% in a weekend is a normal, healthy launch — neither the sell-out that makes headlines nor the stall that makes them. The composition matters more than the rate: three-bedroom and three-bedroom-flexi stacks cleared completely, standard four-bedders reached 89%, and the small units lagged. Source: URA private residential caveats to 15 Jul 2026 (REALIS); developer sales data. POV analysis.
Launch weekend, 25–26 July 2026. Family-sized units led; the smallest stacks lagged.
This is a family-formation launch, not an investor launch. The three-bedroom and three-bedroom-flexi stacks went entirely, and standard four-bedders reached 89% — while a meaningful share of two-bedroom stock is still available at mid-August. In District 11 that pattern is exactly what you would expect: the buyer here is an owner-occupier with school-age children, not a yield hunter.
Which tells you something useful about the resale market you are joining. If you buy a large unit, you bought the type this project proved demand for. If you buy a two-bedder, you are buying the type that did not clear at launch — in a district whose median gross yield is 2.46%, among the thinnest in Singapore. Neither is wrong. They are different assets with different exits.
The price, and what the land already said
2.23× — almost exactly the middle of the suburban band.
Exhibit 2. At 2.23× the developer priced inside the normal band rather than reaching for it. The premium in this file is not a pricing error by the developer — it is what the land already cost. Source: URA Government Land Sales award records; developer sales data. POV analysis.
Land price from URA Sale Sites; tender was $491.5 million against nine bids. Multiplier is launch average ÷ land psf ppr.
2.23× is unremarkable, and that is the point. Our multiplier work across 44 launches puts the normal band at roughly 2.0–2.4×. Dunearn House landed in the middle of it. There is no unusual greed in this price and no unusual discount either — the developers paid up for the land against nine competing bids, and passed the cost through at the customary markup.
So the price is fair to the developer. Whether it is fair to you is a different question — and it is answered by the street, not by the spreadsheet.
The freehold problem, in one chart
Nine of the ten mature neighbours are freehold. This one is not.
Exhibit 3. A 37% premium over the mature median — and nine of those ten projects are freehold. On this street freehold is the norm rather than the luxury, which means the premium is being paid for a shorter title, not a longer one. Source: URA private residential caveats to 15 Jul 2026 (REALIS); developer sales data. POV analysis.
Launch average against mature resale stock within 1km. POV project records to 15 Jul 2026.
Nine of the ten mature comparables within a kilometre are freehold, and their median is $2,296 psf. At $3,140 you paid 37% more for a 99-year lease than the going rate for stock that has no expiry at all. What you got for it: a new building, a fresh lease, and a two-minute walk to Sixth Avenue on the Downtown Line.
The precedent is genuinely encouraging. Fourth Avenue Residences, five hundred metres away, is also 99-year and also launched at a premium to its freehold neighbours — and every tracked five-year exit there was profitable. This street has paid up for new leasehold near the Downtown Line before and the buyers were not punished for it.
The honest counterweight: the neighbourhood exit record is 97% profitable on a 2.46% median yield, which is a long-hold owner-occupier market. Those returns are earned over a decade, not a cycle. If your holding period is five years, you are relying on the premium holding rather than growing — and lease decay only ever works against you while freehold sits across the road.
What is left, and what it costs
What is left is mostly the largest and the smallest.
Exhibit 4. Median psf of the stock still available, with units remaining. The largest unit type is both the most expensive per square foot and the deepest remaining inventory — the quantum, not the psf, is what is holding it. Source: URA private residential caveats to 15 Jul 2026 (REALIS); developer sales data. POV analysis.
| Remaining type | Units left | Median psf | From |
|---|---|---|---|
| 2 Bedroom 527 sqft | 22 | $2,931 | $1,475,000 |
| 2 Bedroom + Study 657–678 sqft | 8 | $2,972 | $1,924,000 |
| 2 Bedroom Premium 614 sqft | 43 | $3,127 | $1,803,000 |
| 3 Bedroom Premium 1,001 sqft | 12 | $3,157 | $3,089,000 |
| 4 Bedroom Premium 1,302–1,313 sqft | 30 | $3,229 | $4,037,000 |
| 4 Bedroom Premium + Study 1,378 sqft | 31 | $3,246 | $4,283,000 |
Huttons developer inventory, 15 August 2026. Median psf across available units of each type; "from" is the lowest quantum available. Availability moves daily.
Read the two highlighted rows together. The largest remaining pools are 2-Bedroom Premium (43 units) and 4-Bedroom Premium + Study (31) — and they sit at almost the same psf, $3,127 against $3,246. One is the cheapest way into the address; the other is the type this launch proved people actually want. If you are choosing between them on price per square foot, you are choosing between two very different resale markets.
The plain 2-bedroom at $2,931 is the value line in the project — roughly 7% below the project average and the only stock meaningfully under $3,000 psf. It is also the smallest at 527 sqft, in a district that transacts on family demand. Cheapest entry, thinnest exit queue. That trade-off is the whole decision on the small stacks.
What is coming that could move the price
One awarded parcel within a kilometre, priced 2% above this site.
| Government land sale site | Units | Land psf ppr | vs this site’s land |
|---|---|---|---|
| Dunearn Road 0.16km · awarded May 2026 · 6 bids | 330 | $1,625 | +15% |
| Holland Link 0.94km · awarded Aug 2025 | 230 | $1,432 | +2% |
Awarded GLS parcels within 1km, from URA Sale Sites via data.gov.sg.
This is the strongest thing in the file for anyone who bought. A second Dunearn Road parcel, 160 metres away, was awarded in May 2026 at $1,625 psf ppr — 15% above the land under Dunearn House, ten months later. Put that through the same 2.23× multiplier and the next launch on that plot needs roughly $3,620 psf to work.
Whoever builds there has to sell above you. That is a benchmark working in your favour rather than against it, and it is the clearest argument that $3,140 will not look expensive in this pocket for long. Note the bidding too — nine bids on this site, six on the next. Developers are not short of conviction about Bukit Timah.
Otherwise this remains a supply desert, deliberately. Almost nothing is completing nearby and no new MRT is scheduled — the Downtown Line is already here and already in the price. Scarcity supports resale; it also means no fresh catalyst is coming.
Who this affects
A catchment buy and a yield buy read this street very differently.
If you own
You are buying a catchment, and the catchment is durable
The three- and four-bedroom stacks are what cleared, and they are what this district actually transacts. The primary-school catchment is the reason, and it is why the neighbourhood exit record runs at 97%.
The condition attached is time. At a 37% premium over mature stock you need the premium to grow rather than merely hold, and a 99-year lease does not help you do that. Buy it if you will hold long enough for newness to stop being the reason you bought.
If you invest
A 2.46% district median is an owner-occupier market in an investment costume
Sixth Avenue rents to families who want the address, not to tenants chasing efficiency. That produces a stable tenant and a thin yield — 2.46% at the district median, before interest, tax and vacancy.
If income is the mandate, this street is the wrong street. The same capital placed in the east or the north-east buys 3.3% to 3.8% gross in projects with comparable exit records. Prestige and yield are separate signals and this address only pays one of them.
The POV Verdict
- You want the Sixth Avenue address on a new 99-year lease and you will hold it long enough for the newness to stop being the reason you bought.
- You are taking a family-sized unit — the three- and four-bedders are what this launch proved demand for, and what the district actually transacts.
- You are buying the primary-school catchment and intend to use it. That demand is durable and it is why the neighbourhood exit record is 97%.
- You need freehold. Nine of the ten mature neighbours have it, and on this street that is the norm rather than a luxury.
- You are buying for yield. A 2.46% district median is an owner-occupier market wearing an investment costume.
- Your horizon is five years. At a 37% premium over mature stock, you need the premium to grow, not merely hold — and lease decay never helps.
Choosing a unit, or choosing the freehold next door?
The remaining stack list moves daily, and the two-bedroom pools are where the pricing gets interesting. We can put the live availability beside the freehold options within the same kilometre — real exit records, real holding costs — so you can see which one is actually the better buy for your horizon. Send us your budget and timeline.
The 2.3× rule: developers price your condo years before it exists
44 launches, one formula — and what it already implies for Hougang, Bedok and Lentor.
The decay curve: what your 99-year lease actually loses, decade by decade
The exit record by lease decade — from triple digits to 49% — and the freehold twist nobody expects.
How to check us: every number in this piece is computed from the primary record — URA caveats to 15 Jul 2026 — not from third-party estimates or hearsay. The links below are the official policy and news record behind the contextual claims.
- URA private residential transaction data (REALIS) — the caveat record every table in this article is computed from
Dataset — Launch results as reported for the 25–26 July 2026 opening weekend. Remaining inventory and per-type pricing from the Huttons developer inventory snapshot dated 15 August 2026 (project-level aggregates; absorption is not tracked in that source). Land price from URA Sale Sites (data.gov.sg), parcel awarded 3 July 2025. Resale comparables from POV project records to 15 Jul 2026.
Methodology & honesty notes. Launch results (212 units, 56%, $3,140 psf average, 25–26 July 2026) as reported by EdgeProp and corroborated across independent property media. Remaining inventory, per-type median psf and lowest available quantum from the Huttons developer inventory snapshot dated 15 August 2026 — project-level aggregates only; that source does not track absorption, so unit counts are availability rather than confirmed sales, and they move daily. Land price, tender value, bid count and gross plot ratio from URA Sale Sites (data.gov.sg). Multiplier is launch average ÷ land psf ppr, against POV’s 2.0–2.4× band measured across 44 launches. Resale comparables are mature projects within 1km excluding launches from 2020 onward, with median psf, share of five-year exits profitable and gross yield from POV project records to 15 Jul 2026. POV Realty and Farhan Adenan are not the appointed marketing agents for this project, and nothing here is financial advice. POV Realty and Farhan Adenan are not the marketing agents for any project or listing referenced, and nothing here is financial advice — it's a starting point for your own due diligence, which is exactly how we'd use it.
Farhan Adenan · CEA Registration R068636D · Senior Associate Division Director, Huttons Asia Pte Ltd (Estate Agent Licence L3008899K).