Dwindling Availability in New Condo Launches

Signs of recovery in property market are spurring home buyers of Singapore private residential, resulting in dwindling availability from new condo launches open for walk-in sales.

Available New Condo Launch for walk-in Sales

If you are one of the home owners where your development has undergone successful collective sales, or looking out to capitalise on current market conditions before home prices get heated up, below (as of 6 Dec 2017) are developers’ units that you can consider:

Project Name Location Launch Date % Sold
Forest Woods (D19) Lorong Lew Lian Oct 2016 91
Forte Suites (D08) Mergui Road N.A. 85
Gramercy Park (D10) Grange Road May 2016 89
Grandeur Park Residences (D16) New Upper Changi Road Mar 2017 83
GEM Residences (D12) Lor 5 Toa Payoh May 2016 88
Kingsford Waterbay (D19) Upp Serangoon View Mar 2015 83
Le Quest (D23) Bt Batok West Aug 2017 68
Martin Modern (D09) Martin Place Jul 2017 46
Park Place Residences (D14) Paya Lebar Road Mar 2017 48
Queens Peak (D03) Dundee Road Nov 2016 76
Seaside Residences (D15) Siglap Link Apr 2017 85
Sophia Hills (D09) Mount Sophia N.A. 93
Sturdee Residences (D08) Beatty Road Apr 2016 95
The Alps Residences (D18) Tampines St 86 Oct 2016 91
The Clement Canopy (D05) Clementi Ave 1 Feb 2017 83
The Navian (D14) Jalan Eunos Oct 2017 25
Thomson Impressions (D20) Lorong Puntong Oct 2015 97

En bloc Fever results in increased New Condo Launches

Limited supply of new parcel of land for development from government resulted in many developers turning to en bloc sales, thereby increasing future supply of new condo launches.

With more and more en bloc sales happening, the Monetary Authority of Singapore (MAS), in early Dec 2017, flagged how recent developments posed risks to market stability.

It cited a looming surge in private housing stock and higher land prices in the current en bloc fever, which may not be accompanied by an improvement in occupation demand.

This move came at the back of Mr Lawrence Wong’s caution to developers in mid Nov 2017.

Mr Wong says number of private residential apartments for sale will more than double in the next one to two years, with a large portion of it from redevelopment of projects that have been sold en bloc.

Will home prices increase in 2018?

I usually advocate anything that’s in the future will be anyone’s guess.

However, with developers paying increased dollars to acquire land, perhaps we can quite safely conclude home prices should increase?

Quoting Mr Jack Chua, CEO of Apac Realty, from a Straits Times article on 4 Dec 2017, he commented that “Normally, a cycle spans five years, and the market has been down since 2013. So it’s about time for an upturn, and there are many signs that prices have already begun to recover.”

“Prices will peak only in two to three years’ time,” he added.

For a list of developments that have undergone successful collective sales (as of early Sep2017), please click here.

Interested in current or future New Condo Launches?

To discuss and know more, or to be updated on current or future new condo launches, please call developer’s appointed marketing agent Poh Lin at tel no. 96700937 or submit the contact form here with your query.