By Winfred Quek · CEA R073319H · Published 3 November 2026 · Last reviewed November 2026
Facts verified: 2 November 2026 · Sources listed below
If you live in Upper Thomson or Bishan, you have probably seen the headline: a 1,268 unit project on the old Thomson View site sold about nine in ten units in one weekend. If you are thinking of buying a remaining unit or a resale home nearby, the headline raises three fair questions. What does it say about demand? How does $2,900 psf compare with what is trading around it? And what do you pay on top of the price?
This page sticks to reported figures and official rules. It is a factual review, not a recommendation to buy or avoid any project. For the wider area picture, see our Upper Thomson and Bishan guide.
What was reported about Thomson Reserve
Thomson Reserve is a joint project by UOL Group, its subsidiary Singapore Land Group and CapitaLand Development. It sits on a 5 hectare site off Upper Thomson Road, the former Thomson View Condominium. Here is what EdgeProp and The Edge Singapore reported, based on the developers' figures.
| Item | Reported figure |
|---|---|
| Units | 1,268 (740 in the Classic Collection, 528 in the Luxury Collection) |
| Tenure and TOP | 99 year leasehold, TOP expected in the second half of 2030 |
| Land price (Nov 2024 collective sale) | $810 million, or $1,178 psf per plot ratio including estimated top up and betterment charges |
| Cheques before launch | About 3,200, over 2.5 times the unit count |
| Preview visitors | 11,800 on 17 to 18 October, over 23,000 in the first week |
| Launch result | 1,143 of 1,268 units sold, about 90%, at an average of about $2,900 psf |
| Starting prices | 2 bedroom from $1.544 million ($2,608 psf), 3 bedroom from $2.503 million ($2,643 psf), 4 bedroom from $3.388 million ($2,737 psf) |
| Transport | Two minute walk to Upper Thomson MRT station on the Thomson East Coast Line |
The mix matters. Two bedroom units are 716 of the 1,268, or 56.5%. Three and four bedroom units were reported as fully sold at launch, so the stock that remains is mainly the smaller units.
Source: EdgeProp, Thomson Reserve collects around 3,200 cheques, and Thomson Reserve first mega launch in eight years; The Edge Singapore, launch sales report, checked 2 November 2026. www.edgeprop.sg/property-news/thomson-reserve-collects-around-3200-cheques-ahead-oct-31-launch
How to read the take up
Two numbers help put 90% in context. ParkTown Residence, from the same developer pair, sold 1,041 units (87%) over its February 2025 launch weekend at an average of $2,360 psf. For 2026, PropNex's CEO was reported as saying Thomson Reserve beat the 853 units sold at Tengah Garden Residences in April, the highest launch weekend count this year.
Cheques are a softer signal than sales. EdgeProp's tally puts conversion at 44% for ParkTown Residence and 30.6% for Skye at Holland. Dividing 1,143 sales by about 3,200 cheques gives roughly 36% for Thomson Reserve. That is our own arithmetic, and a cheque is an expression of interest, not a signed booking. The point is that heavy cheque counts do not guarantee sales, and a high sell through does not need a huge oversubscription.
The wider market context is worth holding next to this. URA's Q3 2026 release shows developers sold 1,183 new homes in the whole quarter, down from 2,141 in Q2, while prices of non-landed homes in the Outside Central Region rose 2.3% after a 0.1% dip in Q2. One project reporting 1,143 sales in a single weekend is close to a full quarter of Q3 volume. URA counts sales on its own basis, so wait for the Q4 release before comparing like for like. It does suggest that buyers are still willing to commit when the location, the quantum and the launch price line up.
Source: URA, Release of 3rd quarter 2026 real estate statistics, checked 2 November 2026. www.ura.gov.sg/news/media/pr26-73/
The psf benchmark against nearby resale
EdgeProp pointed to JadeScape, another large 99 year leasehold project in District 20 near an MRT station, as a pricing reference. It reported JadeScape's median resale price at $2,341 psf in 2026. Against that figure:
- Thomson Reserve's $2,608 psf starting price is about 11% higher.
- The reported $2,900 psf average is about $559 psf, or roughly 24%, higher.
Treat this as a rough marker, not a verdict. The projects differ in age, remaining lease, location, stack, floor and unit size. A brand new unit comes with a fresh lease and a TOP date years away, while a resale unit is available to live in or rent now. Our guide on new launch versus resale sets out that trade off in more detail.
Land cost gives a second reference. The Thomson View site was bought at $1,178 psf per plot ratio. EdgeProp reported a nearby Lorong Puntong to Sin Ming Avenue government land sales site at $1,612 psf per plot ratio, about 37% higher. ERA's Marcus Chu cautioned that this does not mean future selling prices will be 37% higher, though it does show that the cost of building new homes in the Thomson and Bishan area is rising.
For landed and HDB owners nearby, EdgeProp also reported that District 20 landed homes had a median resale price of $2,300 psf in the first nine months of 2026, against $1,152 psf in 2016. In Bishan, there were 79 HDB resale transactions of $1 million or more as of 13 October, against 98 for all of 2025. Those are market facts for the area. They are not a price for your home.
Source: EdgeProp, Thomson Reserve first mega launch in eight years, checked 2 November 2026. www.edgeprop.sg/property-news/thomson-reserve-first-mega-launch-eight-years-upper-thomson-priced-2608-psf
What it means if you already own nearby
A sell out is a signal about interest in the area, not a mark to market on your flat or condo. A buyer who could not get, or did not want, a Thomson Reserve unit may look at resale homes within the same MRT and school catchment. That is one possible channel of demand. It is not automatic, and it depends on price, size and condition.
If you are weighing up a sale or a refinance, the evidence that counts is closer to home. Look at recent transacted prices in your own block or project, in the same size band, from URA and HDB transaction data. Compare the quantum, not only the psf, because a $1.5 million buyer and a $3 million buyer are different pools. Our note on psf versus quantum explains why.
What to check before buying a remaining unit or a resale nearby
Developers reported 1,143 sold out of 1,268, which leaves about 125 units unsold on simple subtraction. Availability moves day to day, so confirm the live list with the sales gallery. Here are the questions worth asking, for a remaining unit and for a resale home alike:
- Which stack, floor and facing is left, and why? After a fast sell out, the units that remain are often the ones other buyers passed over. That may be fine for you, but know the reason.
- What is the price per square foot of this exact unit? Compare it with the average of about $2,900, the $2,608 starting price and the resale benchmark above.
- How long can you carry the cost? TOP is expected in the second half of 2030. Until then a new unit does not produce rent or a home to live in. A resale unit can do either now.
- What does the supply pipeline look like? URA reports 20,300 unsold units with planning approval and another 12,508 unsold without it, and the vacancy rate for completed private homes was 7.2% at the end of Q3. Rents rose 1.3% in the quarter.
- What are the total costs? Stamp duties, legal fees, interest during construction and any furnishing, covered next.
The vacancy and rent figures are island wide. They are a reminder to underwrite a purchase on your own numbers rather than on a launch weekend headline.
Source: URA, Release of 3rd quarter 2026 real estate statistics, checked 2 November 2026. www.ura.gov.sg/news/media/pr26-73/
Stamp duty and progressive payment basics
Buyer's Stamp Duty (BSD) applies to everyone. IRAS sets residential BSD at 1% on the first $180,000, 2% on the next $180,000, 3% on the next $640,000, 4% on the next $500,000, 5% on the next $1.5 million and 6% beyond that. As an illustration only, on the $1.544 million starting price of a 2 bedroom, that works out to $46,800. Your actual unit price will differ.
Additional Buyer's Stamp Duty (ABSD) depends on who you are and how many residential properties you own. IRAS lists these rates for purchases on or after 27 April 2023:
| Buyer | First property | Second | Third and beyond |
|---|---|---|---|
| Singapore Citizen | None | 20% | 30% |
| Singapore PR | 5% | 30% | 35% |
| Foreigner | 60% on any residential property | ||
Two details matter for a new launch buyer. First, IRAS counts a developer unit toward your property count once the Sale and Purchase Agreement is signed, even though you do not own it yet. Second, IRAS says BSD and ABSD must be paid within 14 days after the date of the signed contract. HDB owners upgrading, and some married couples, may qualify for ABSD remission, which has its own conditions. See how BSD, ABSD and SSD stack, and confirm your position with IRAS or a lawyer.
Payment on a new launch usually follows the progressive payment scheme. A first tranche of about 20% is typically paid at booking and the sale and purchase stage, then further amounts fall due as construction milestones are reached, with the balance at completion. Your bank loan is drawn in step with these stages, so you pay interest only on the amount drawn during construction. The exact schedule is in the option to purchase and the sale and purchase agreement, so read it with your lawyer. Our guide to the progressive payment scheme walks through a sample timeline.
Source: IRAS, Buyer's Stamp Duty and Additional Buyer's Stamp Duty, checked 2 November 2026. www.iras.gov.sg/taxes/stamp-duty/for-property/buying-or-acquiring-property/additional-buyer's-stamp-duty-(absd)
Common ways to misread a sell out
- Treating the average psf as your unit's price. The $2,900 average blends tower, floor and size. Your unit may sit well above or below it.
- Reading sell through as a price guarantee. A project can sell fast and still see mixed resale outcomes years later. The sell out says what buyers paid, not what the next buyer will pay.
- Using developer figures as final numbers. The 1,143 units and $2,900 psf are reported by the developers. URA data later gives the official count.
- Ignoring quantum. Starting prices of $1.5 million for a 2 bedroom and $2.5 million for a 3 bedroom frame who the buyer pool is.
- Forgetting holding costs. Interest during construction and a 2030 TOP affect an investor's return and an upgrader's housing plan.
Frequently asked questions
How many Thomson Reserve units sold at launch?
The developers, UOL Group and CapitaLand Development, reported that 1,143 of 1,268 units sold, about 90%, at an average of about $2,900 psf. Treat these as developer reported figures until URA publishes its own data.
What is the tenure and expected TOP of Thomson Reserve?
EdgeProp reports a 99 year leasehold with TOP expected in the second half of 2030. The project is a two minute walk from Upper Thomson MRT station on the Thomson East Coast Line.
How does Thomson Reserve compare with nearby resale prices?
EdgeProp cited JadeScape's median resale price of $2,341 psf in 2026 as a benchmark. Thomson Reserve's starting price of $2,608 psf is about 11% above it and the reported $2,900 psf average is about 24% above. The projects differ in age, location and unit mix, so use it as a rough guide.
Does the sell out mean my Upper Thomson or Bishan home is worth more?
Not automatically. The launch shows demand for the area, but your home is priced by recent transactions of comparable units. Check URA and HDB transaction data for your own block or project and size band.
What stamp duty applies if I buy a remaining unit?
BSD applies to all buyers. ABSD depends on citizenship and property count: for example, 20% for a Singapore Citizen buying a second residential property and 60% for foreigners. IRAS says both are due within 14 days of the signed contract. Confirm your case with IRAS or a lawyer.
Want the Thomson Reserve numbers set against your own plans?
Tell Winfred whether you own nearby or are weighing a remaining unit or a resale, and he will go through the comparable transactions, stamp duty and payment timeline with you. General information only, not advice.
Ask Winfred on WhatsApp Book a free 30 minute callWinfred Quek, CEA R073319H, Crestbrick Pte Ltd (L3010886H). General information as at 2 November 2026, not legal, financial, tax or property advice. Launch figures are reported by the developers and news outlets, and rules are from IRAS and URA pages that may change. The stamp duty example uses an illustrative price. This page makes no price forecast and does not recommend any project.