With its prime location, luxurious amenities, and unique design, Aurea has captured the attention of luxury homebuyers in Singapore. The highly anticipated project, launched for sale on March 8, has already sold 23 units at an average price of $3,005 per square foot in the Core Central Region (CCR). Developed jointly by Far East Organization and Perennial Holdings, Aurea is one of the first luxury residential developments to be launched in 1Q2025 in the CCR. The developers have released 78 units in phase one, which comprises a mix of two- to four-bedroom apartments from levels 4 to 16. This phase has achieved a sales rate of 30%, based on the 78 units released. With a total of 188 units, this translates to a sales rate of 12.2%. Designed by DP Architects, Aurea boasts a unique “hanging garden concept”. It is also the first new private condominium connected to a mixed-use development to be sold en bloc and conserved, now known as Golden Mile Singapore. According to the joint venture, 83% of the buyers at Aurea are Singaporeans, with the remaining 17% comprising of permanent residents (PRs) from Malaysia. This reflects the strong appeal of this development to locals. The very successful sales rate is being attributed to the well-designed, functional and investment potential of the two- and three-bedroom apartments in the Prestige Collection, which accounted for 74% of the sales. The four-bedroom units from the Signature Collection also attracted buyers with their large balconies offering breathtaking views of Marina Bay and Kallang Basin. The units in the Sky Villa Collection are particularly sought after, with just 18 five-bedroom apartments up to 3,251 square feet and two exclusive six-bedroom penthouses of up to 8,816 square feet. These large-format homes are a rarity in the downtown area, making them highly desirable to buyers. The strong sales at Aurea reflect the buyers’ appreciation of the opportunity to own a luxurious home blending heritage with modern sophistication. “Many have shared that they are especially captivated by the magnificent views and recognise the value of being part of the exciting ongoing evolution of this prime Downtown Core precinct,” says Shaw Lay See, COO of Far East Organization’s sales & leasing group. Ken Low, managing partner of SRI, notes that the price gap between private residential properties in the CCR and the Rest of Central Region (RCR) has significantly narrowed in recent years, from around 40% in the last 10 years to just 20% regardless of tenure. Marcus Chu, CEO of ERA Singapore, explains that this is due to the slower growth of CCR prices, which lagged behind the RCR and Outside Central Region (OCR) in recent years due to fewer new launches. However, with nine CCR launches set to take place in 2025, Chu expects a notable rise in CCR home prices this year. “Savvy investors may shift their focus back to CCR once again, since the non-landed new home price gap between CCR and RCR narrowed from 50% in 2018 to 10% in 2024, with the expectation that the gap could widen once again as more new luxury homes debut,” adds Chu. Low believes that Aurea will benefit from Singapore’s ongoing urban renewal efforts, with major infrastructural and lifestyle upgrades planned for the surrounding area. “Aurea is also situated at the doorstep of probably the largest transformation in Singapore,” he notes, adding that the 120-km Southern coastline redevelopment, stretching from the Greater Southern Waterfront, Marina Bay, Kallang Basin, and the future Long Island project, will enhance accessibility, connectivity, and vibrancy in this key city district. With its prime location, luxurious amenities, and unique design, Aurea has captured the attention of luxury homebuyers in Singapore. Its sales success is a testament to the strong demand for high-end properties in the CCR, despite the cooling measures in place. As the development progresses, it is expected to continue to attract buyers and set a new benchmark for luxury living in the CCR.