Newport Residences moved 140 of its 246 units at an average selling price (ASP) of $3,370 psf, excluding its sole penthouse unit. This was ahead of UBS’s expectations, which had forecast Newport Residences to sell just 30% of its units at an ASP of $2,800 psf at its launch.
Buyers snapped up 57% of City Developments’ (CDL) freehold Newport Residences along Anson Road on its Jan 31–Feb 1 launch weekend, setting a “relatively encouraging” tone for upcoming projects in the prime area, note UBS Global Research analysts Michael Lim and Terence Lee.
For example, the nearby IOI Properties’ W Residences Marina View – Singapore, a 99- year leasehold property, has only sold five of its 540 units since its July 2025 launch at $3,302 psf to $4,256 psf, according to Lim and Lee in a Feb 2 note.
