2020 List of New Condominium Launches in Singapore

Updated – 17 December 2019

Upcoming New Launches (Q1 /Q2 2020)

Leedon Green (绿墩雅苑 ) – [Freehold @District 10] ~$2,800 psf
Linq at Beauty World – [Freehold @District 21] ~$1,900 psf
Parc Canberra EC – [Leasehold @Distrct 27] ~$1,100 psf
Pasir Ris Central Condo [Leasehold @District 18] ~$1,450 psf
19 Nassim Hill – [Freehold @District 10] ~$2,800 psf
Van Holland – [Freehold @District 10] ~$2,800 psf
Verticus Condo @Balestier – [Freehold @District 10] ~$2,800 psf
OLA EC @Sengkang – [Leasehold @ District ] ~$1,000 psf
Kopar at Newton (纽顿铜源) – [Leasehold @District 09] ~$2,100 psf
Sims Villa – [Leasehold @District 14] ~$1,400 psf
The Atelier Condo @Newton – [Freehold @District 09] ~$2,600 psf
The M Condo @Middle Road – [Leasehold @District 07] ~$2,400 psf
The Landmark @Chinatown – [Leasehold @District 03] ~$2,200 psf

2019 Singapore Residential Market Recapped

Singapore’s property market has been nothing but resilient in 2019.

In particular, the residential primary sales market stood out as demand strenghtened in the 2nd half of the year even as trade tensions between United States and China escalated, and the 2019 economic outlook of Singapore look dimmed.

Developers sold 29 percent more new homes in the five months between July and November 2019, than they did in the six months from January to June 2019, with demands deriving from locals and foregners buyers. The number of foreign buyers jump 81.7% in 3q 2019 to an estimated 238 transactions. The stability of the country and currency are probably key reasons why foreigners chose to invest in Singapore.

Sales of new private homes picked up strongly last month despite the start of the year-end holiday period and amid a property glut, data showed. Developers sold 1,147 units last month – excluding executive condominiums (ECs) – 23.2 per cent more than in October but 4.5 per cent fewer than in November last year. If ECs were included, 1,168 units were sold last month, a 21.9 per cent increase from October but 3 per cent lower than a year ago, the Urban Redevelopment Authority (URA) data noted.

Developers launched 740 private homes for sale last month, down 17 per cent from October and 44.9 per cent fewer than the 1,342 in November last year. There were no ECs launched last month. Last month’s take-up was led by projects in suburban areas, known as outside central region, with 608 sales, followed by 351 in the city fringes or rest of central region, and 188 in prime areas or core central region.

Outlook for 2020

• 40 projects and 11,000 units to be launched in 2020.
• Half of these are in the Central Core Region with the rest equally split between the Rest of Central Region and Outer Core Region.
• Prices could increase between 2% and 5% in 2020. Singapore private residential prices are projected to grow by around 2% next year and in 2021, according to Fitch Ratings.
• Take up in 2020 is estimated to be around 9,500 and 10,000 units.
• 3 EC launches in 2020 compared to only 1 in 2019.

2020 List of New Condominiums Launches

Editor’s Top Picks for 2020 projects on watch list in the respective regions.

Central:

1. The M @Middle Road – located at Bugis District, next to Bugis Junction/ MRT. 99-yrs. Expected selling $2400 psf
2. Leedon Green @Leedon Heights– one of the largest freehold land over the decade. District 10 Freehold. Expected selling $2800 psf
3. Tan Queen Lan St – masterpiece by Guocoland to complete the link up Bugis with Raffles, Marina & Suntec. 99-yrs. Expected selling $2500 psf

West Region:

1. Linq @Beauty World – doorsteps to Beauty World MRT & future transportation hub. Freehold. Expected selling at $1900 psf.
2. One North Gateway – 260m to One North MRT. 99-yrs. Expected selling $1800 psf.
3. Clementi Ave 1 – approximately 900m to Clementi MRT. University Town, near One North. 99-yrs. Expected selling $1550 psf

North Region:

1. Parc Canberra (EC) – Rare executive condo which near to MRT (350m to Canberra MRT). 99-yrs. Expected selling $1100 psf

North East Region:

1. OLA (EC) – New concept of EC livings by EVIA. 99-yrs. Expected selling $1050 psf

East Region:

1. Pasir Ris Central Condo – integrated with MRT/ bus/ mall. 99yrs, good land price. Expected selling $1450 psf
2. Sims Villa @Sims Drive – 400m to Aljunied. 99yrs, good land price. Expected selling $1400 psf.
3. Katong Park Tower – near upcoming TEL Katong Park (TE24). 99yrs, Expected selling $2300 psf.

It is important to only engage the Official Direct Developer Sales Team to assist you. There are several complex procedures and key factors to consider before committing to purchase a unit. Rest assured that all our representatives are certified, well-trained and committed to deliver. By engaging the Official Direct Developer Sales Team, you will also enjoy the best possible direct developer price. There is no commission required to be paid.

Summary

Singapore’s private housing market is poised for modest price growth next year, amid a resilient leasing market. However, developers are expected to continue being challenged by the significant supply of unsold private housing units in the pipeline although, by some estimates, the oversupply could ease by the end of 2021.

Data from the Urban Redevelopment Authority (URA) shows that as at the end of the third quarter of this year, there were 31,948 unsold units in uncompleted private housing projects with planning approvals – down from the most recent high of 36,839 at end-Q1 2019. Assuming that developers continue to sell about 9,000 private homes on average per year, take-up will total around 18,000 units in the next two years (2020 and 2021). Land supply from the confirmed list of the Government Land Sales (GLS) Programme, on the other hand, is assumed to be about 3,000 private homes annually – or 6,000 units over the two years.

The higher take-up numbers against the GLS supply will result in a net reduction of around 12,000 units from the pool of unsold, uncompleted private homes.

If the GLS continues to be conservative and outstripped by primary-market sales, we could see the figure fall to under 20,000 units by end-2021, potentially setting the stage for a market recovery.

For 2020, analysts are expecting a price increase of between 2-4 per cent.

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