By Winfred Quek · CEA R073319H · Published 28 July 2026
Facts verified: 28 July 2026 · Sources linked below
Dairy Farm has had three launches in roughly six years: Dairy Farm Residences in 2019, Botany at Dairy Farm in 2023, and now Narra Residences in 2026. Each one has landed at a higher psf than the last, and this review sets out what Narra actually offers for that premium, and where the honest limits of the location still sit.
The project at a glance
Narra Residences sits on Dairy Farm Walk in District 23, near the Bukit Timah Nature Reserve and the Bukit Panjang / Hillview corridor.
| Field | Detail |
|---|---|
| Developer | Consortium of Santarli Realty and Apex Asia Development, with Soon Li Heng Civil Engineering and Kay Lim Realty |
| Tenure | 99 year leasehold, from 1 July 2025 |
| Total units | 540 residential units plus 4 strata shop units |
| District | 23 (Dairy Farm / Bukit Panjang / Hillview) |
| Site design | Approx 66% of the 236,000 sqft site allocated to landscaping, block separations up to 63m |
| Land price | Approx S$504.52m, approx S$1,020 psf per plot ratio (January 2025 GLS tender) |
| Preview / launch weekend | Preview from 17 January 2026 / launch weekend 31 January to 1 February 2026 |
| Launch weekend result | 135 units sold (approx 24.8%) at an average of S$2,180 psf, a new Dairy Farm high |
| Indicative entry pricing | From approx S$998,000 (approx S$1,930 psf) for 1BR+study; approx S$1.17m (approx S$2,089 psf) for 2BR |
| Expected TOP | Approx January 2030 (estimate) |
Figures per EdgeProp, 99.co and Stacked Homes reporting, January and February 2026.
Why the launch weekend number is the real story
The verifiable fact here is the sales record: Narra Residences sold 135 of 540 units over its opening weekend at an average of S$2,180 psf, a new pricing benchmark for Dairy Farm, according to EdgeProp's reporting. As at 4pm on 1 February, two- and three-bedroom units made up about 90% of sales, and every one-bedroom unit, along with all four strata shop units, was fully taken up. That is a genuine, publicly reported data point, not a marketing claim.
What it does not tell you is whether S$2,180 psf is fair value going forward. The land was bought at approximately S$1,020 psf per plot ratio in January 2025, which supports the pricing on a cost basis, and resale comparables in the estate, Dairy Farm Residences around S$1,950 psf and Botany at Dairy Farm reaching S$2,402 psf, suggest a plausible pricing corridor. But a 24.8% weekend take-up is a solid, not sold-out, start, broadly consistent with how this specific enclave has historically sold, gradually rather than in a single frenzied spike.
The bull case
Genuine low-density design
About 66% of the 236,000 sqft site is dedicated to landscaping, with block separations of up to 63 metres, well above what many recent, denser CCR and RCR launches offer. Ceiling heights of 2.8m and GFA-harmonised layouts, the first in District 23 to use this framework, are designed to maximise usable space.
An estate that is no longer a promise
Unlike Dairy Farm Residences in 2019 or Botany at Dairy Farm in 2023, which launched into a still-developing area, Narra buyers move into an estate with Dairy Farm Mall already open since 2024, providing retail anchoring that earlier projects lacked at launch.
Family-skewed unit mix and school access
Roughly 49.1% of units are two-bedroom and 34.3% three-bedroom, clearly targeting young families, with proximity to international schools including Swiss Cottage, GESS and St Francis Methodist supporting expatriate family demand.
The bear case
Still a car-oriented location
Dairy Farm Mall covers day-to-day essentials, but residents have to travel out for broader dining and retail variety, and the nearest MRT, Hillview on the Downtown Line, is not within comfortable walking distance for most blocks. This remains a drive-first neighbourhood, which matters for buyers weighing rental appeal against MRT-linked alternatives.
Modest rental demand signal
Only a small pool of one-bedroom-plus-study units was built into the mix, a signal of limited investor-oriented supply and an owner-occupier-first design. Rental yields in this OCR, car-oriented pocket are likely to trail Core Central Region and MRT-linked projects.
More undeveloped GLS sites nearby
Additional residential Government Land Sales sites remain on Petir Road and elsewhere in the Dairy Farm and Bukit Panjang stretch, with at least one further Dairy Farm Walk parcel tendered as recently as January 2026. Future launches on these sites could add competing supply and cap how much exclusivity Narra's pricing can command over time.
School and traffic bottleneck
The development shares a single cul-de-sac access point with an upcoming primary school, which is likely to create predictable congestion during drop-off and pick-up hours, an everyday friction point worth weighing for residents who will use that access daily.
The verdict: a Money, Timing & Safety read
Running Narra Residences through the three essentials I use with clients produces a fairly clear-eyed picture.
- Money: MIXED Pricing close to recent EC launches is competitive on an absolute-quantum basis, but rental yield is likely to trail MRT-linked CCR and RCR projects given the limited one-bedroom supply and car-oriented location.
- Timing: STRONG Buyers enter an estate with completed infrastructure already in place, Dairy Farm Mall foremost among it, rather than betting on amenities that have not yet materialised.
- Safety: MIXED Established local developers with a solid construction track record, but 99-year leasehold and further nearby GLS sites still to be developed mean future supply and long-run resale competition are real, unresolved variables.
Narra Residences suits a price-conscious family prioritising space, greenery and an already-lived-in estate over MRT convenience or rental yield. It is a weaker fit for an investor chasing near-term cashflow, given the modest one-bedroom supply and the estate's car-first character. Compare the rental math honestly using our rental yield ranking by town, factor in the 99-year lease using the leasehold tail discount tool, and run your own Money, Timing & Safety self-assessment before committing.
Who it suits
Families prioritising space and greenery
Buyers with children, or planning for them, who value low density and generous block separation over MRT proximity, and who are comfortable with a car-dependent lifestyle. Families comparing schools in the broader Hillview and Dairy Farm belt can check our living near Hillview MRT with kids at Lianhua Primary guide.
Right-sizers from nearby landed housing
Owners of landed property in the surrounding Bukit Panjang and Dairy Farm area looking to right-size into a lower-maintenance condo without leaving the neighbourhood.
Less suited to: yield-focused investors
With a small one-bedroom pool and a car-oriented, non-MRT-adjacent location, an investor optimising purely for rental yield has stronger comparables elsewhere. Our new launch vs resale comparison is a useful starting benchmark.
Frequently asked questions
How much does Narra Residences cost?
Narra Residences previewed from 17 January 2026, with pricing starting around S$998,000 (approx S$1,930 psf) for a one-bedroom-plus-study, and roughly S$1.17m (approx S$2,089 psf) for a two-bedroom. Launch weekend sales averaged S$2,180 psf across the mix. Confirm current balance-unit pricing directly with the developer, as prices move after launch.
Who is developing Narra Residences?
A consortium led by Santarli Realty and Apex Asia Development, together with Soon Li Heng Civil Engineering and Kay Lim Realty, which won the Dairy Farm Walk Government Land Sales site in January 2025 for approximately S$504.52m, or about S$1,020 psf per plot ratio.
Is Narra Residences freehold or leasehold?
Narra Residences is a 99-year leasehold development, with the lease commencing from 1 July 2025.
How did Narra Residences perform at launch?
Narra Residences sold 135 of its 540 units, about 24.8%, over its launch weekend of 31 January to 1 February 2026, at an average of S$2,180 psf, a new pricing benchmark for the Dairy Farm enclave, per EdgeProp's reporting. All one-bedroom units and all four strata shop units were fully sold; two- and three-bedroom units made up about 90% of sales.
Is Narra Residences a good investment?
It suits price-conscious families more than yield investors. Pricing sits close to recent Executive Condominium launches, and the estate benefits from completed infrastructure like Dairy Farm Mall, but the location remains car-oriented, with the nearest MRT some distance away, and further GLS sites nearby remain undeveloped, which could add future competing supply. Rental demand is likely modest given the limited one-bedroom count built into the unit mix. No return or yield figure here is a guarantee.
Considering Narra Residences?
Before you commit to a Dairy Farm unit at this new benchmark price, run the numbers against your actual budget, lifestyle and rental expectations. A Property Portfolio Analysis looks at this specific unit against your wider plan, with no incentive to favour whichever project pays the highest commission.
Book a free portfolio analysis callWinfred Quek is the Principal of Crestbrick Pte Ltd, advising Singapore upgraders, investors, and families. CEA R073319H. The information on this page is general and does not constitute financial, investment, or mortgage advice. All figures reflect launch-period reporting and are not a forecast of future prices, yields or returns. Verify current pricing and project details directly with the developer, and all transaction data with URA, before making any purchasing decision.