The Myst is a new residential project by City Developments Limited (CDL) located in the Upper Bukit Timah area of Singapore. The project is set to be previewed on Saturday, June 24. It consists of two 24-storey towers with a total of 408 residential units on a 179,008 square-foot site. CDL acquired the land parcel, previously owned by Tan Chong International, for S$126.3 million in April 2022.
The indicative prices for The Myst start from S$1,862 per square foot. The development offers a range of unit sizes and prices. The one-bedroom units, including a study, start at S$998,000 for a size of 517 square feet, which translates to S$1,930 per square foot. The two-bedroom units (from 678 sq ft) start at S$1.33 million or S$1,962 per square foot. The three-bedroom units (from 850 sq ft) start at just under S$1.71 million or S$2,009 per square foot. The larger four-bedroom units (from 1,518 sq ft) cost about S$2.83 million or S$1,862 per square foot, while the five-bedroom units (1,690 sq ft) are priced at S$3.18 million or S$1,882 per square foot.
The Myst comprises 408 units and is set to attract those who value a close connection to nature. The development is near various amenities, including schools, eateries, and transportation options. The nearest MRT station is Cashew on the Downtown Line, and the Bukit Panjang MRT Station is also within walking distance. Hillion Mall, integrated with a transport hub, is the nearest shopping destination.
Bukit Panjang Primary and CHIJ Our Lady Queen of Peace are within a 1km radius of The Myst.
According to CDL, around one-third of the units will be priced at S$1.5 million and below. This pricing strategy aims to attract potential buyers with more affordable options.
ADDP Architects is the design architect for The Myst and they confirmed that the two towers have a north-south orientation, and units are arranged to optimise views.
Recent property launches in the area have received strong responses. For example, Sim Lian Group's The Botany at Dairy Farm sold nearly half of its 386 units at an average price of S$2,070 per square foot over its launch weekend in March. In May, Far East Organization and Sino Group's The Reserve Residences sold 71 percent of its 732 units at an average price of S$2,460 per square foot during its launch weekend.
Resale prices of private condominium units in the vicinity, based on data from URA Realis, have ranged from S$1,400 per square foot to S$1,713 per square foot in the past four months. For example, a 1,335 sq ft unit at Hazel Park condominium transacted at S$2.13 million or S$1,596 per square foot in late April. Resale prices for condos in District 23 (Hillview, Upper Bukit Timah) generally ranged from S$842 per square foot to S$1,845 per square foot. Recently, a 463 sq ft unit in the Hillion Residences, a 99-year leasehold mixed development, transacted at S$790,000 or S$1,707 per square foot.
CDL's CEO, Sherman Kwek, highlighted that The Myst benefits from its proximity to nature parks and reservoirs such as the Bukit Timah Nature Reserve, Dairy Farm Nature Park, and the Rail Corridor. It is also located near the Cashew Avenue Good Class Bungalow area and the Cashew MRT station on the Downtown Line. Kwek believes that homebuyers will appreciate the luxury resort design and attractive location of The Myst, enhancing their lifestyle.
The Upper Bukit Timah area has not seen a major project launch in over 20 years. The last new project was the boutique development Bukit 828, launched in 2018. The rarity of large-scale projects in the area suggests potential pent-up demand for new homes.
Sales for The Myst will begin on July 8, 2023, and the development is expected to deliver the notice of vacant possession in March 2029.
As a reader of Propertyforsale, you are cordially invited to the exclusive preview of The Myst by one of our featured property agents.
WhatsApp or call Andy Chia (+6583239888) to fix an appointment at the showflat and flash this Privilege Pass to gain priority access!
He is an experienced realtor whom will share with you The Myst floor plans, site plan and the benefits of this new launch project.