Mega Condo TOP 2023 (Subsale Frenzy?)

Published on 29 Nov 2022

Hard To Find Your Next Home?

To the buyers out there, are you having difficulties in finding your next home?

Especially when you go and explore the new launch condo, you find that the new launch condos are now at least $2,000psf and might be out of your affordable range.

difficult to buy a home

Some more there is very limited new condo launch this year.

You must be lucky enough to get a good balloting number to buy the unit that you want.

New Launch Condo Sales Hot

Worse still, the rental keeps going up higher and higher from $2,500 last time to $4,000, until now you also buay tahan already!  (Especially if you are Singapore PR…)

Then you start to look around at the resale condo. And you thought that resale condo older must be cheap.

But then you found out that resale condo price also went up a lot.

And you worried that if you buy the old condo the price will drop later.

Subsale Frenzy Around The Corner

So, you might be stuck now coz don’t know which option you should go for.

Now, if there is something similar to a new launch and yet you can move in next year, would you buy?

My topic today, something like new launch condo but you don’t need to wait for 3 years construction period before you can move in, which is, the subsale condo TOP 2023!

Singapore Condo Price

What is Subsale?

For those who don’t know what is subsale condo?

Subsale actually refers to a unit that is bought from a developer, and then resell to another buyer before completion.

what is subsale condo

For example, if XiaoMing buy a new launch condo that will be TOP 4 years later, and he sell the unit before TOP, this is considered as a subsale.

And the important timeline is usually 3 years after the new launch purchase date. That’s because anyone who bought a residential property and sell within 3 years will be subject to Seller stamp duty.

Where are the Subsale Condo TOP 2023?

This year, we already have 3 mega projects TOP. They are Stirling Residences, Parc Esta and Jadescape. Currently, their transacted price are around $2,100psf.

Today I will show you where are the subsale mega condos that are expected to TOP in 2023.

Most of these projects are previously old HUDC that successfully en bloc.

We have 3 in the northeast region, 1 in the east region and 2 in the southern region.

Where are subsale mega condo

(1) Riverfront Residences

Riverfront Residences condo TOP 2023

Remember the evening in 2018, when the government announced the cooling measure around 6pm.

Everyone chiong to the showflat and queue outside Riverfront Residences showflat and must book a unit before 12am.

I remember the multi-storey carpark opposite was totally full until the residents complaint.

This project is developed by Oxley.

With 1472 units in the project itself.

Riverfront Residences is located at Hougang Avenue 7. About 15 mins walk to the Hougang MRT along the Northeast Line.

Hougang MRT station will be an interchange to have Cross Island Line, target to complete by 2030.

As of the date of taking this video, in total there are 109 units subsale units already transacted. And it is the highest among all projects.

Price ranging around $1,500psf.

You can buy a 1-bedroom unit slightly above $700k.

2-bedroom units sold around $1 to $1.2mil.

3-bedroom units between $1.3 to $1.6mil.

And their 4-bedroom units are above $2mil.

(2) Affinity at Serangoon

Affinity serangoon condo TOP 2023

Next, again another project by the same developer Oxley, this is Affinity at Serangoon.

In 2018, I remember back then launching the project after just one weekend of preview to compete against The Garden Residences.

Garden Residences was TOP-ed in 2021 and some units were sold above $1,800psf.

Affinity at Serangoon is located just 2-3 min walk to the upcoming Serangoon North MRT station along Cross Island Line that target to complete by 2030.

So, if you wish to buy it for your own stay, it will be more convenient for you in the future. And if you are buying for investment, you got to hold until the MRT commences operation in about 8 years time.

Another big selling point for Affinity at Serangoon is the popular primary school, Rosyth School is within 1km radius.

There are total 1,052 units.

So far, only 24 units subsale done.

Now the price is mostly around $1,700psf.

You can buy a 1-bedroom unit slightly around $800-900k.

2-bedroom units ranging above $1mil to $1.35mil.

3-bedroom units between $1.4 to $1.8mil.

And their 4-bedroom units are above $2.2mil.

Generally, Affinity @ Serangoon is about $100k-200k higher than Riverfront Residences.

In my opinion, if you compare these 2 projects, I would still prefer Affinity more.

(3) The Florence Residences

Florence Residences condo TOP 2023

Next, another mega project in the North East region, The Florence Residences.

On the first day of launch in 2019, the developer, Logan Property only managed to sell 54 units out of the total 1,410 units.

However, the announcement of Cross Island Line did boost a lot in their sales.

That’s why the developer can raise the price from $1,400psf all the way to $2,000psf.

The good thing about this project is within walking distance to both Hougang and Kovan MRT.

Furthermore, Hougang will be the MRT interchange to the Cross Island Line in 2030.

And we will have an integrated development next to Hougang Interchange. Very likely it will sell something beyond $2,200psf in the future.

As of today, 14 subsale units transacted. Around $1,600-1,800psf.

1-bedroom sold around $900k.

2-bedroom units around $1.2-1.3mil.

3-bedroom units between $1.5-1.8mil.

And 4-bedroom sold at $2.1mil.

(4) Treasure at Tampines

Treasure at Tampines Condo TOP 2023

Now, let’s look into the East region.

Treasure at Tampines was launched in 2019 by Sim Lian.

This is the biggest project in Singapore with 2203 units in total.

And it is also the cheapest new launch condo back in 2019, at an average price of $1,280psf.

Treasure at Tampines is located right next to the popular Round Market in Tampines.

Although it is quite far away from Tampines MRT, but you are still walkable to Simei MRT if you don’t mind to cross the overhead bridge.

Treasure at Tampines is located right next to the popular Round Market in Tampines.

Although it is quite far away from Tampines MRT, but you are still walkable to Simei MRT if you don’t mind to cross the overhead bridge.

So far, there were 16 subsale units transacted already.

Price ranging from $1,500-$1,600psf.

You can get a 1-bedroom there below $800k.

2-bedroom at least $1mil and above.

A 3-bedroom compact can be $1.2-1.4mil, whereas the 3-bedroom premium can be more than $1.6mil.

4-bedroom is close to $1.9mil.

I believe when it TOP later, many units will be available for sale.

So, it could be a good chance for you if you are looking for something cheap and ready to move in next  year.

(5) Normanton Park

Normanton Park Condo TOP 2023

Next up, let’s look into the Southern region. We have Normanton Park.

Initially, the developer Kingsford is not allowed to sell any unit before TOP is obtained.

However, thereafter they got the green light but must achieve 100% Quality Mark inspection by the Building and Construction Authority (BCA) before being issued the Temporary Occupation Permit (TOP).

So eventually, Kingsford managed to launch Normanton Park in early 2021.

Till now, its still within the 3 years seller stamp duty period.

That’s why, as of now, no subsale transacted yet.

Normanton Park is located somewhere near to the Science Park I and Kent Ridge Park.

Although it is not near to any amenities, but it is super convenient for people who work around One North and Pasir Panjang area.

Very convenient for those who drive, because you come out from Normanton Park is the AYE.

Normanton Park is also one of the biggest projects in Singapore, with 1,862 units in total.

The developer sale units are sold in between $1,600-$2,000psf.

So, I believe the sellers might be willing to let go for a price beyond $2,200psf.

If you wish to know more about this project, I have also done a floorplan analysis for Normanton Park.

(6) Avenue South Residence

Avenue South Residence Condo TOP 2023

Now, come to the last mega project which is also located in the Southern region of Singapore. Avenue South Residences.

This project was launched in Sep 2019, what a timely action by the developer UOL after the announcement about Greater Southern Waterfront in the National Rally 2019.

In total there are 1,074 units ranging from 1 to 4-bedroom types in Avenue South Residence.

It is located at Silat Avenue. It’s within walkable distance to Outram Park MRT and the upcoming Cantonment MRT.

If you drive, it is also easily accessible to CTE and AYE.

One interesting fact is: There is NE1 which is Harbourfront Interchange and NE3 Outram Park interchange, but NE2 is missing.

So, some speculate there will be MRT nearby Avenue South Residence in the future.

Besides, I have done one video about Avenue South Residence floor plan analysis. Feel free to watch if you are keen to know more.

Avenue South Residence Condo TOP 2023

The developer sale units are sold between $1,700-$2,600psf.

The price range is very wide because the design consists of 3 different classes.

We have Peak Collection, Horizon Collection, and Heritage Collection.

Summary

All these projects were fully sold by the developers. And if you are keen to look for one, you got to buy a unit from the subsale market.

Subsale is suitable if you are looking for something ready to move in soon, with the intention of own stay or investment for long term at least 5 to 10 years.

If you would like to know which project has more potential, you may reach me via WhatsApp at 91887652.

Plan For Yourself is very Important!

It’s not just about selling at the record breaking price, but you may also end up buying high as well in this seller’s market.

I suggest we have a short meet up first where I can share with you based on your case and what is the best scenario moving forward and based on the market now what are the projects best suit you!

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    Stephen Chong
    Stephen Chong
    Lim Ming Hwee
    Lim Ming Hwee
    2022-02-26
    Stephen is a very good agent who goes beyond his way to ensure that his clients are happy. He is very patient and helpful, and will always give good advice.
    Joseph Sze
    Joseph Sze
    2021-12-24
    Stephen is a professional & responsible person who has provided good quality customer services to our recent Condo housing purchase & related matters. I found he has put in great efforts and gone for extre miles to assist us in the whole process and related purchase issues. Excellent work, Stephen!👍🏼👍🏼👍🏼
    SZ Lim
    SZ Lim
    2021-07-20
    Was going thru Stephen's video when I noticed he had a google review panel up. Going to copy paste my review on his FB page from 2019. I still stand by my review. Stephen was very professional throughout our engagement process. I first engaged Stephen as his effort could be seen thru the videos he made. The videos were informative, detailed, yet easy to understand from a beginners point of view. Could also see the improvement of his videos as time passes, and that speaks volumes about one's character on his eagerness to improve and share. During my engagement with him, Stephen was very professional. Since I was very new in the scene, I required alot of guidance and honesty. Stephen was very upfront with me on many items and did not try to hide any facts from me. As a first time buyer, both good and bad prospects were laid out after his detailed analysis on my current financial condition and also on the projects we went to see. Comparing to other agents who will just blab anything that benefits their sales point, Stephen was straightforward and truthful on the issue. I have met quite a few agents but would highly recommend Stephen to people who are looking for properties, be it looking for a place to stay, or looking for a property to invest.
    YingYu Tan
    YingYu Tan
    2021-07-11
    Stephen handled both my HDB sale and new condo purchase. The whole process was fuss-free and smooth. What impressed me was his willingness to go the extra mile for his client, from analyzing every detail and being there for me and my wife every step of the selling/buying process.
    陳若芸
    陳若芸
    2021-07-04
    Cannot believers Mr Stephen posting my rental unit less than 10 mins ? Yes, can't believed it ? but please believed it. 1st day open ..more then 8 enquiry. Mr Stephen was very professional, patient and knowledgeable, he shares all the information i needed, excellent service 💪💪 Rent out my unit within 2 days highly recommended ..BINGO
    Jade Bai
    Jade Bai
    2021-06-30
    We came across Stephen YouTube video and appreciated the tips he is providing. We decided to engage Stephen when we were house hunting. Most people may feel that you can DIY resale hdb buying process. Personally we feel its money well spent engaging Stephen. The whole buying process is swift. Stephen is very prompt in his reply. He did alot of detailed analysis and recommend us the units we can explore. He is very detailed anf meticulous. This process saved alot of time. He also gave us helpful advice on the units we viewed. No hard selling or rush you into hasty decisions 😊
    Adrian Tay
    Adrian Tay
    2021-06-30
    Knowledgeable and professional, Stephen is not the typical agent you will meet. Ever so patient, he will help provide his genuine feedback and never pushy unlike most sales agents. Fortunate to have Stephen walk with me in my property investment journey. Will recommend Stephen to anyone who is looking for a trustworthy agent to walk the mile with.
    michael tan
    michael tan
    2021-06-29
    Very patient and give good advise. I bought ec under him and he sold my hdb.
    CY Goh
    CY Goh
    2021-06-05
    I believe every property investors or home buyers have encounters with numerous property agents. However, how many of you ever met someone with passion and enthusiasm to sit down and analyze each property based on your criteria (budget, requirements like location, size, etc)? Having watched Stephen's videos in YouTube, decided to ping him and the rest is unspoken of. Not only did he helped to narrow down our search, he also analyzed which project has higher prospect and which unit (level, facing, etc) fits our living habits. No complaints, except for not knowing Stephen earlier. Good job Stephen, thank you.
    Esther Cheh
    Esther Cheh
    2021-04-30
    Stephen was the agent assisting us in the purchase of our condo and now to market them for rental. He is extremely helpful, open, transparent and reliable throughout the entire time. He went above and beyond to help us set things up while we are not in Singapore.He is also very professional and knowledgeable about the property market in general. I am confident to leave our condo in his care to find us a good tenant and to manage them in future.
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