NEW YEAR CONDO PREVIEW:
Collection of New Condo Launch In Singapore

On September 2017, Morgan Stanley has released the most bullish forecast for the Singapore housing market, expecting private home prices to increase by 2% in 2017 and rising again by another 8% in 2018, reported the Business Times.

The existing unsold inventory (of the new condo) also plunged to a record 22-year low in 2017.  And going by the present selling rate, It is expected to be cleared by the third quarter of 2018.

Furthermore, Morgan Stanley analyst Wilson Ng even predicted property prices to double by 2030.

Check out the list of present and future new condo launch in the next two years:

Existing New Condo Launch

Future & Upcoming New Condo Launch

For more information on Government Land Sale, visit URA Space.

The Surge in The Sales Volume of New Condo Launch 

From the graph released by URA, Singapore take-up rate of the private new condo launches shows very positive and healthy scenario.

Due to the lower supply of new condo launch, the sales volume bounced from the valley in 2016 and now still, in the beginning of the uptrend rally.

Obviously, the graph showed that the take-up is much higher than the supply, no wonder Singapore property market is moving upward.  And this situation is likely to continue for the next 3 to 4 years.

The Return of Buyers to the Resale Market

Here is another graph showing the Condo Resale volume throughout the years. Obviously, the condo resale volume is increasing since end 2016. This could be due to the short supply of new condo and the attractive price for the resale condo. We expect that more buyers will return to the resale market in 2018.

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 the 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, the 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

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