NEW YEAR CONDO PREVIEW:
The 13 most exciting New Condo Launch In 2017

New Condo Launch in 2017

From Grandeur Park Residences to Clement Canopy to Park Place Residences, here are the new condo launch we’re most excited to see in the upcoming 2017.

The big blockbuster new condo launch season may be over, but there are still great ones to come in 2017 that have us excited.

From the launch of the best selling Lake Grande in Jurong to Gem Residences in Toa Payoh, to the Forest Woods in Serangoon and at last to the most recent launch Queens Peak (Queenstown), the real estate developers looks to be quite optimistic towards Singapore’s new sale market.

In addition, there are also quite a number of new executive condominium launch which attract our attention,  especially Treasure Crest in Sengkang and Wandervale in Choa Chu Kang (both 100% fully sold) developed by Sim Lian Group, Parc Life by Fraser Centerpoint and Visionaire by Qing Jian Realty.

New Condo Take Up Rate

From the graph by URA, Singapore take-up rate of the private new condo launches shows the healthy scenario happening in current condo new sale market.  Credit to our ministry who reduce the supply of private housing, the total number of new condo sold has been showing positive and more than the supply of new condo launch. Obviously, the data increase the confidence level of the developers and buyers.

For condo new launch in 2017, here’re some great ones to choose from, we have listed down the upcoming release projects that have yet to hit.

Check out the list below, and then let us know which projects  you’re most looking forward to as well!

LAUNCH DATE* LOCATION PROJECT NAME DEVELOPER PER PLOT RATIO ESTIMATED AVG SELLING PRICE**
Mar 2017 Bedok South Avenue 3
(Tanah Merah MRT)
>>> Grandeur Park Residences CEL Development $ 761 psf $ 1,350 psf
Q1 2017 Paya Lebar Road
(Paya Lebar MRT)
>>> Park Place Residences Lendlease $ 943 psf $ 1,800 psf
Feb 2017 Clementi Avenue 1
(near NUS)
>>> Clement Canopy Singland & UOL $ 615 psf $ 1,400 psf
Jan 2017 Shan Road
(Novena MRT)
>>> 12 On Shan (former Shan Court) Tiong Aik Enbloc Sale $ 2,100 psf
Q1 2017 Alexandra View
(Redhill MRT)
>>> ARTRA @ Alexandra Tang Group $ 851 psf $ 1,700 psf
April 2017 Siglap Road >>> Seaside Residences FCL, Sekisui & Capital Land $ 858 psf $ 1,700 psf
TBA Jalan Kandis (Sembawang) TBA Dillenia Land $ 481 psf $ 1,000 psf
June 2017 Martin Place (River valley) >>> Martin Modern First Bedok Land (GuocoLand) $ 1,239 psf $ 2,300 psf
July 2017 Bukit Batok West Avenue 6 Le Quest Qingjian Realty $ 635 psf $ 1,200 psf
TBA Fernvale Road
(Sengkang / Jalan Kayu)
TBA Sing Development
& Wee Hur
$ 517 psf $ 1,100 psf
Mar 2017 Choa Chu Kang Avenue 5 >>> INz Residence Qingjian Realty $ 295 psf $ 750 psf
July 2017 Yio Chu Kang Rd (near Rosyth School) >>> Hundred Palms Residences Hoi Hup Realty $ 331 psf $ 850 psf
Q4 2017 or Q1 2018 Anchorvale Lane TBA Hoi Hup Realty $ 355 psf $ 850 psf

New Condo Launch in the East

Park Place Residences

Among the new condo launch 2017, I believe that projects in the East region will attract the most attention.

Park Place Residences was 50% sold and the developer Lendlease decided to freeze the sales two days after the condo launch.

Park Place Residences in Paya Lebar Central

The integrated development offers 3 grade A office towers with close to 1 million square feet of best-in-class office space and amenities, a standalone mid-to-mid plus retail mall with over 340,000 square feet of shopping, dining and entertainment options and 3 residential towers comprising 429 apartments, positioned within a generous and lush public space.

Being one of the rare integrated developments among all new condo launch in Singapore, the average launch price was about $1,800psf.

Located next to Paya Lebar MRT station interchange, the residents at Park Place Residences will enjoy the seamless connectivity and amenities.

Grandeur Park Residences

Another new condo launch in the East will be the one next to Tanah Merah MRT station, Grandeur Park Residences by CEL Development. Interestingly CEL is the developer who sold more than one thousand units during the launch week of High Park Residences in July 2015 sent new private home sales creating the most astounding record in over 3 years. CEL sold about 60% on the initial launch of Grandeur Park Residences and more than 76% was sold as on 30 June 2017.

grandeur-park-residences-location

Looking at the surroundings, the high-floor units of Grandeur Park Residences facing the South will expect to have a very beautiful unblocked view facing landed housing estate.  Therefore, those units would be considered as the most prime selection of the entire development and of course most pricey as well.

Based on pricing at The Glades, the CEL Development likely will price Grandeur Park Residences at around $1,350psf average.  According to the news, very attractive pricing for one-bedroom from $550k and two-bedroom from $700k.

New Condo Launch in the West Region

Clement Canopy
clement-canopy-condo-location

In November 2016, EL Development launches Parc Riviera in West Coast Vale with an average price of $1,200psf.

Being one of the most successful new launches in 2016, Lake Grande is the only new launch in the West Region which is jus a  short distance away from MRT station.

On March 2017, UOL will launch Clement Canopy at Clementi Avenue 1.  With its close proximity to Singapore Polytechnic, NUS and NUH, we estimate the average price will be is around $1,350psf.

12 on Shan, previously en bloc from Shan Court is now on hold for sale.

The Last 3 New Launch Executive Condominium for 2017 & 2018

On the other hand, we are facing dearth of executive condominium (EC) launches in 2017. , No new sites were released for EC development. Insufficient supply can result in a future shortage and an unwarranted spike in housing prices when demand picks up.

Choa Chu Kang EC location

Inz Residence was launched in March 2017 was having good response due to future development nearby.  Located at Choa Chu Kang Avenue 5, Inz Residence is just opposite the famous future Forest Town, Tengah.  The average price was around $780psf.

Hundred Palms Residences to be launched in July 2017, is expected to get great response due to dearth of EC supply.  Hoi Hup will monopolize the EC market in North East of Singapore since the remaining EC in Sengkang and Punggol were fully sold.

yio-chu-kang-ec-site-location

The last EC project, located at Anchorvale Lane could be launched on or after November 2017. Hoi Hup won the land bid at $355 psf over the maximum gross area, which denotes the highest price per plot ratio after Lake Life.  We can see that the eagerness of Hoi Hup in dominating the executive condo market in 2017 recently. Likely, the estimated average price of the Anchorvale Lane EC is $850psf.

Click here for the comprehensive list of New EC Launch.

anchorvale-lane-ec-site

The Discount is Not Going To Last Forever

Many indicators are signaling that the property market in Singapore is likely to pick up soon. In addition, Government Land Sales (GLS) has been slowed down, developers are trying to replenish their land source and thus have fewer units to sell in the coming years.  Looking at the current market trend of the new condo launch, especially with the dwindling supply, the price of the new condo is expected to be more expensive in the near future. This means that if you want to take advantage of the discount, you have to act now or watch the opportunity slip by.

 

Note: 

Launch Date* : The estimated launch date of the residential project based on the date of award and pre-launch waiting period of past developments, subject to changes without prior notice.

Estimated Average Selling Price** : The estimated average selling price based on market trend, transaction history of relevant developments and tender price, subject to changes without prior notice.

# :  The land price is higher than typical residential land because it is a mixed development land which comprises three Grade-A office towers, shopping mall, and three private residential towers.

Avg Selling Price^ : The average selling price based on the past 6 months.

Reference: URA SPACE

Which new condo launch are you looking forward to the most for next year? Let’s discuss in the comments!

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