This list will be updated with more information as and when projects are launched, so do check back by bookmarking this page if you are interested in any of the launches listed above or leave your contact details here so we can update you in a timely manner.
2021 was a fantastic year for the property market with lots of record breaking transactions and new highs. Some of these include the number of million dollar HDBs sold tripling as compared to 2020, 10.6% surge in private homes prices, 13.3% increase in prices of landed properties and many, many more. (Follow us on Instagram to stay updated on the latest property news!)
Is 2022 dampened by cooling measures?
With such a hot market comes cooling measures in order to ensure affordability of housing for all in Singapore. With the sudden introduction of cooling measures last December, some might find themselves hesitant to make a purchase in what is undoubtedly one of the biggest assets in their lives - a property.
One can expect this to dampen the market a tad and cause some unease for both developers and buyers alike; but with the hope of those who will continue to forge ahead with their purchases rather than those adopting the wait-and-see tactic, developers are going ahead in launching new projects.
In fact, we are looking at approximately 40 new launches you can expect to see this year, with close to half on the list located in the Outside Central Region (OCR). Without further ado, let’s dive into what these new launches are, their respective locations and districts, as well as estimated launch dates.
Overwhelming Interest in Belgravia Ace
If you have been following us, you will have known about the recent launch of the Belgravia Ace strata landed housings on 22nd January, where over 90% of the units were immediately snapped up.
The developer also received an overwhelming amount of cheques in a show of interest (over 200 received for the 107 unit project), which goes to show that demand is still extremely high despite the implementation of cooling measures.
From the table above, in the first half of this year we are already looking at a potential 26 new launches coming our way (excluding the already launched Belgravia Ace).
Whilst many of the projects (landed) are only offering units in the double digits (exclusive freehold projects), those not wanting to miss out can turn their eyes towards upcoming condos like the Northumberland Road or North Gaia, which offer 407 and 640 units respectively.
Next, let’s take a look at the remaining potential new launches for the rest of the year below.
And here are the remaining 14 new launches expected for the bottom half of the year.
Healthy Mix of Housing Types Available
On the whole, we are looking at quite a good mix of executive condos, condo/apt, mixed-use and landed housings coming our way. Many of these new launches will be situated at districts 5, 9, 14 and 15, where a number of popular existing launches in 2021 already sit (Midtown Bay, Midtown Modern, Meyer House)
The second half of this year is where you should most definitely direct your attention to if you are looking to purchase a condominium. Though the prices have yet to be released, it is not difficult to do an estimation of its selling price by looking at developers’ costs and taking into consideration the price of housings already launched in its vicinity.
If you are interested in any of the listed projects above and would like us to work out the estimation of prices and whether it is a good project to invest in, leave your details here so we can get in touch with you.
Is It A Good Idea to Buy A Property This Year?
With the cooling measures, one can definitely expect sales to slow down a little. However, it will not be prudent to hope for a significant price drop anytime soon due to the continuous demand in housing, an example being Belgravia Ace.
Another effect you can see from the list of potential new launches above is that projects launching will be on a smaller scale as compared to those in 2021, most notably the fact that there are no mega projects offering more than 1,000 units like Normanton Park did.
While the measures might not affect the very-wealthy much as they are still able to own multiple homes as long as they are willing to fork out the high transaction costs, investments in properties are made less attractive, as price increases start to lull and transaction costs rise.
In turn, this can help combat wealth inequality, especially with the government increasing the supply of housing units. This helps keep prices more affordable and investing less appealing, further fanning the logic that homes are meant for living instead of investing.
Whether you are interested in buying a property for your own stay or investment purposes, it is important to take into account all available factors in order to ensure a wise transaction.