by Kenny Lee Historical launch archive · Original report published 2021-11-21. Prepared retrospectively on 3 October 2026. Historical prices and infrastructure descriptions refer to the original announcement period, not current offers.
Reported sales outcome
The joint developers reported 538 homes sold out of CanningHill Piers’ 696 by 6pm on 21 November 2021, at an average around S$3,000 psf. The sole 8,956 sq ft super penthouse sold for S$48 million. Bookings had begun on 20 November.
Reading the result
The whole-project take-up was approximately 77.3%, leaving 158 homes outside the sold count. This opening result should not be rewritten as a fully sold milestone.
The penthouse’s achieved S$48 million price was S$2 million below its S$50 million indicative preview figure, a 4% difference. The calculation compares that particular advertised and achieved quantum. It cannot establish that every apartment received a similar discount.
A headline luxury transaction and a development-wide average answer different questions. For an ordinary home, compare the selected layout, area and floor with relevant transactions. For investment, the purchase quantum must be paired with achieved rent and recurring costs. A high-value sale in the same development does not establish the expected rental yield or resale gain of another apartment.