# Terra Hill Discounts Reach Up To $1.63 Million On Unsold Units

- **Source:** Stacked Homes
- **Published:** 2026-09-04T10:30:47.000Z
- **Author:** Timothy Tay
- **Original:** https://stackedhomes.com/new-freehold-pasir-panjang-condo-offering-discounts-of-1-63m-whats-still-available/
- **Topics:** Private Residential, New Launches, Government & Policy

## Featured rationale

The reductions signal weaker demand for ground-floor and high-ceiling penthouse units and may accelerate sales while influencing buyer price expectations for comparable Pasir Panjang homes.

## AI summary

Terra Hill is discounting nearly all remaining units by up to $1.632 million, with just over 50 of its 270 homes still unsold.

## Original article

With the 270-unit Terra Hill striding towards its expected completion in 1Q2027, the freehold development in District 5 still has a significant number of unsold units. Developer sales data indicates that just over 50 units – or 20% of the total number of units in the development – remain unsold, according to URA caveats downloaded on Sept 4.

With buying attention in the new launch market focused on other parts of Singapore in the coming months, the developers of Terra Hill have updated their price list and are now offering discounts on nearly all remaining unsold units.

The discounts range from $1.632 million for a 3,035 sq ft penthouse on the fifth floor, which had its listed price of $8.912 million ($2,936 psf) knocked down to $7.28 million ($2,399 psf), to $377,000 for a 969 sq ft three-bedder, which had its listed price of $2.517 million ($2,597 psf) slashed to $2.14 million ($2,208 psf).

More than half (31 units) of the unsold units are penthouses, ranging from 3,035 sq ft to 1,249 sq ft. With the discounts, the average $psf price of these penthouse units is about $2,149 psf. The other units range from five-bedroom units of 2,164 sq ft to three-bedroom units of 969 sq ft.

Here are some of the remaining units, and their discounted prices, at Terra Hill:

Block | Unit No. | Type | Area (sq ft) | Previous price ($) | Price adjustment ($) | Discounted Price ($) | $PSF

20 | 05-26 | EP1-PH | 3,035 | 8,757,000 | 1,477,000 | 7,280,000 | 2,399

20B | 04-30 | DP1 | 1,894 | 5,670,000 | 850,000 | 4,820,000 | 2,545

20B | 01-30 | DP1 | 1,894 | 5,538,000 | 830,000 | 4,708,000 | 2,486

20A | 02-27 | DP1 | 1,894 | 5,341,000 | 801,000 | 4,540,000 | 2,397

18 | 05-03 | D7-PH | 1,862 | 4,543,000 | 681,000 | 3,862,000 | 2,074

22 | 05-34 | C7-PH | 1,249 | 3,082,000 | 462,000 | 2,620,000 | 2,098

22A | 02-44 | C4 | 1,076 | 2,949,000 | 442,000 | 2,507,000 | 2,330

18B | 01-18 | C3 | 969 | 2,517,000 | 377,000 | 2,140,000 | 2,208

Jointly developed by Hoi Hup and Sunway MCL, Terra Hill entered the market in 2023. After its initial sales launch over the Feb 25-26 weekend, the development sold 89 units (33%) and set an average selling price of $2,659 psf, according to URA caveats.

You can read more about this project in our New Launch Condo Review here. To summarise the development, it consists of two different residential collections: the Signature Collection, and the Prestige Collection. Units in the Prestige Collection have a private lift lobby with just two units per floor. The units come with full marble flooring, and each bedroom has an ensuite.

In general, Terra Hill recorded a relatively healthy take-up rate, with 108 units (40%) sold one year after it launched. The average selling price had also inched up to reach $2,669 psf by the end of February 2024.

So far this year, the development has sold 55 units, including three penthouse units:

A 3,035 sq ft unit that transacted for $7.28 million ($2,398 psf) on Aug 18

A 2,142 sq ft unit which fetched $5.2 million ($2,428 psf) after it was sold on March 30

A 1,334 sq ft unit that was sold for $4.79 million ($2,576 psf) on May 25

According to caveats, the most expensive unit sold by the developers of Terra Hill is a 3,035 sq ft penthouse unit that transacted for $8.2 million ($2,701 psf), after it was sold in April 2023. The runner-up is the penthouse unit that moved for $7.28 million last month.

A cursory glance at the unit distribution at Terra Hill, compared with the recently discounted units, reveals that nearly all of the units which have had their prices slashed consist of ground floor units, or top-floor units with high-ceilings that come with void spaces.

This could shed some light into why these units have taken so long to find buyers, especially the top-floor units where the excess air space would be a challenge to find a suitable and effective use of the space.

Moreover, we also noted that more than a handful of the discounted units also face the perimeter of the condominium. Although we can’t say for certain at this time, there’s a good chance that most of these wall-facing units have blocked views.

It’s quite a challenge to find a comparable development to benchmark the prices at Terra Hill, given the scarcity of new launch projects in that part of Pasir Panjang in recent years. You’ll have to go back to 2014 for the last new freehold project in that locale: namely, the 120-unit Bijou by Far East Organization.

There is also The Hillshore on Pasir Panjang Road, and although it is broadly within the Pasir Panjang area and in District 5, it is far enough to make it an unfair comparison.

So, the newest private residential developments in that area is the 99-year leasehold Kent Ridge Hill Residences, which was completed in 2024. The 548-unit development by Oxley Holdings launched for sale in 2018.

Resale units at Kent Ridge Hill Residences started to enter the market last year. From May 2025 to August this year, at least 49 resale units have changed hands at that condo, with the average resale price settling in at about $1,939 psf.

The most expensive resale unit at Kent Ridge Hill Residences is a 1,829 sq ft strata terrace house that changed hands for $3.28 million ($1,795 psf) when it was sold on June 5 this year. Another similarly sized strata terrace house transacted for $2.93 million ($1,601 psf) on April 27 this year too.

There were also three condo unit transactions last month: a 645 sq ft unit on the fifth floor that fetched $1.08 million ($1,672 psf); a 958 sq ft unit on the third floor that was sold for $1.93 million ($2,017 psf); and, a 1,076 sq ft unit on the first floor that transacted for $2.02 million ($1,881 psf).

However, it’s important to keep in mind that Kent Ridge Hill Residences is a 99-year leasehold development, and the freehold tenure held by Terra Hill does contribute to a degree of price premium for its units.

Terra Hill consists of two collections: the more premium Prestige Collection, and the Signature Collection.

In broad terms, there is good reason to bank on the future price appreciation that some residential developments in Pasir Panjang will enjoy, Terra Hill included. Anchoring the area’s transformation is the Greater Southern Waterfront (GSW), and the redevelopment of Pasir Panjang Port – which is slated to move to Tuas by the 2040s.

While the GSW is a monumental master plan that will reshape the southern coastline, most of the residential and new commercial development plans seem to focus on the Berlayer area (the former Keppel Golf Course), Sentosa and Brani Islands, and Marina South next to the CBD.

Based on the information shared about the GSW to date, the positive knock-on effect on certain residential areas in Pasir Panjang is still uncertain. But the freehold tenure of Terra Hill certainly gives it a robust runway for prices to increase at a largely consistent rate over the next few decades.

When we take a step back to consider the new launch pipeline of upcoming OCR projects, there are clear signs that property prices will continue ticking up. Even in neighbourhoods like Bedok, we’ve started to see developers bid record land prices for highly desirable sites.

The most recent is the record $1,537 psf per plot ratio land bid placed by a consortium of developers (UOL Group, CapitaLand Development, and Singapore Land) for a government land sale (GLS) site in New Upper Changi Road. That land rate has set a new record for a residential GLS site in the Outside Central Region.

Some market watchers already expect the eventual development by the UOL-CapitaLand consortium could see launch prices of over $3,000 psf when it hits the market.

Take note that if this is true, this would match the estimated launch price of The Serra Residences, a new project in Novena by Far East Organization. That 133-unit, freehold development is one of the upcoming projects that is set to preview next month.

Here’s what we know about The Serra Residences and its estimated launch prices.

With prices like that in a prime district, and land prices in the OCR rapidly closing the gap, perhaps it is time to reconsider some of the previously launched freehold projects – especially since discounts are being offered.

## Chinese translation

> Translation model: grok_cli

### Terra Hill未售单位折扣高达新币163万元

Terra Hill正为其余下未售单位提供高达新币163万元的折扣，其中不少是地面层单位或挑高阁楼单位；这座位于巴西班让的永久地契公寓正迈向2027年第一季度竣工。

随着270个单位的Terra Hill迈向预计于2027年第一季度竣工，这座位于第五区的永久地契项目仍有相当数量的未售单位。根据9月4日下载的市区重建局买卖交易记录，发展商销售数据显示，仅余略超50个单位——约占项目总单位数的20%——尚未售出。

随着新盘市场的买盘关注在未来数月集中于新加坡其他地区，Terra Hill的发展商已更新价单，目前几乎所有余下未售单位均提供折扣。

折扣幅度从五楼一间3,035平方英尺阁楼单位的新币163.2万元，到一间969平方英尺三房单位的新币37.7万元不等。前者原标价新币891.2万元（每平方英尺新币2,936元）下调至新币728万元（每平方英尺新币2,399元）；后者原标价新币251.7万元（每平方英尺新币2,597元）下调至新币214万元（每平方英尺新币2,208元）。

未售单位中超过一半（31个单位）为阁楼单位，面积从3,035平方英尺至1,249平方英尺不等。折后这些阁楼单位的平均每平方英尺价格约为新币2,149元。其余单位从2,164平方英尺的五房单位，到969平方英尺的三房单位不等。

以下是Terra Hill部分余下单位及其折后价格：

座号 | 单位编号 | 户型 | 面积（平方英尺） | 原价（新币） | 调价（新币） | 折后价（新币） | 每平方英尺（新币）

20 | 05-26 | EP1-PH | 3,035 | 8,757,000 | 1,477,000 | 7,280,000 | 2,399

20B | 04-30 | DP1 | 1,894 | 5,670,000 | 850,000 | 4,820,000 | 2,545

20B | 01-30 | DP1 | 1,894 | 5,538,000 | 830,000 | 4,708,000 | 2,486

20A | 02-27 | DP1 | 1,894 | 5,341,000 | 801,000 | 4,540,000 | 2,397

18 | 05-03 | D7-PH | 1,862 | 4,543,000 | 681,000 | 3,862,000 | 2,074

22 | 05-34 | C7-PH | 1,249 | 3,082,000 | 462,000 | 2,620,000 | 2,098

22A | 02-44 | C4 | 1,076 | 2,949,000 | 442,000 | 2,507,000 | 2,330

18B | 01-18 | C3 | 969 | 2,517,000 | 377,000 | 2,140,000 | 2,208

由Hoi Hup与Sunway MCL联合开发的Terra Hill于2023年入市。在2月25日至26日周末的首轮开盘后，该项目售出89个单位（占33%），根据市区重建局买卖交易记录，平均售价为每平方英尺新币2,659元。

您可以在我们的新盘公寓评测中阅读有关此项目的更多内容。简要概括，该项目包含两个不同的住宅系列：Signature Collection和Prestige Collection。Prestige Collection的单位设有私人电梯大堂，每层仅两个单位。单位铺设全大理石地板，每间卧室均配套房卫浴。

总体而言，Terra Hill录得相对健康的认购率，开盘一年后售出108个单位（占40%）。至2024年2月底，平均售价亦微升至每平方英尺新币2,669元。

今年迄今，该项目已售出55个单位，其中包括三个阁楼单位：

一个3,035平方英尺单位于8月18日以新币728万元（每平方英尺新币2,398元）成交

一个2,142平方英尺单位于3月30日售出，成交价为新币520万元（每平方英尺新币2,428元）

一个1,334平方英尺单位于5月25日以新币479万元（每平方英尺新币2,576元）售出

根据买卖交易记录，Terra Hill发展商售出的最贵单位是一个3,035平方英尺阁楼单位，于2023年4月以新币820万元（每平方英尺新币2,701元）成交。紧随其后的是上个月以新币728万元易手的阁楼单位。

粗略对照Terra Hill的单位分布与近期获折扣的单位可见，几乎所有被削价的单位都是地面层单位，或带挑高及中空空间的顶层单位。

这或许能解释这些单位为何迟迟找不到买家，尤其是顶层单位，多余的挑高空间往往难以找到合适且有效的用途。

此外，我们也注意到，相当一部分获折扣单位面向公寓周界。虽然目前无法断定，但这些朝墙单位很有可能视野受阻。

鉴于巴西班让该地段近年新盘项目稀缺，很难找到可与Terra Hill价格对标的同类项目。该区上一个全新永久地契项目要追溯到2014年，即远东机构开发的120个单位的Bijou。

巴西班让路上还有The Hillshore，虽然大体同属巴西班让一带且位于第五区，但距离足够远，使其不宜作为公平比较对象。

因此，该区最新的私人住宅项目是99年地契的Kent Ridge Hill Residences，于2024年竣工。这个由Oxley Holdings开发的548个单位项目于2018年开盘发售。

Kent Ridge Hill Residences的转售单位去年开始进入市场。从2025年5月至今年8月，该公寓至少有49个转售单位易手，平均转售价约为每平方英尺新币1,939元。

Kent Ridge Hill Residences最贵的转售单位是一间1,829平方英尺的分层排屋，于今年6月5日以新币328万元（每平方英尺新币1,795元）成交。另一间面积相近的分层排屋也于今年4月27日以新币293万元（每平方英尺新币1,601元）成交。

上个月还有三笔公寓单位交易：五楼一间645平方英尺单位以新币108万元（每平方英尺新币1,672元）成交；三楼一间958平方英尺单位以新币193万元（每平方英尺新币2,017元）售出；一楼一间1,076平方英尺单位以新币202万元（每平方英尺新币1,881元）成交。

不过，必须记住Kent Ridge Hill Residences是99年地契项目，而Terra Hill所持的永久地契确实为其单位带来一定程度的价格溢价。

Terra Hill包含两个系列：定位更高端的Prestige Collection，以及Signature Collection。

从大方向看，有充分理由看好巴西班让部分住宅项目——包括Terra Hill——未来的价格升值。支撑该区转型的是大南部滨水区（GSW），以及巴西班让港的重建——该港口计划于2040年代迁往大士。

虽然大南部滨水区是一项将重塑南部海岸线的宏大总体规划，但大多数住宅及新商业发展计划似乎聚焦于柏莱雅一带（前吉宝高尔夫球场）、圣淘沙和布拉尼岛，以及毗邻中央商务区的滨海南。

根据迄今公布的大南部滨水区资料，其对巴西班让部分住宅区的正面连锁效应仍不确定。但Terra Hill的永久地契确实为其提供了稳健的跑道，使价格在未来数十年大体能以较稳定的速度上涨。

当我们退后一步审视即将推出的中央区以外（OCR）新盘供应管道，有明显迹象显示房价将继续上扬。即便在勿洛等邻里，我们也已看到发展商为极具吸引力的地段竞出创纪录地价。

最近的一次是由发展商财团（华业集团、凯德发展及新加坡置地）为新樟宜上段路一幅政府售地地段所出的创纪录每容积率平方英尺新币1,537元地价。该地价刷新了中央区以外住宅政府售地地段的纪录。

一些市场观察者已预期，华业—凯德财团的最终项目入市时，开盘价可能超过每平方英尺新币3,000元。

请注意，若果真如此，这将与远东机构在诺维娜的新项目The Serra Residences的预估开盘价相当。这个133个单位的永久地契项目是定于下月预览的即将推出项目之一。

以下是我们目前所知的The Serra Residences及其预估开盘价。

在核心地段出现这样的价格，而中央区以外地价又迅速缩小差距的情况下，或许是时候重新审视一些先前已推出的永久地契项目——尤其是在提供折扣的时候。