2021 was a bumper year for the Real Estate market in Singapore. With the current inventory of New units really low, all eyes are on this year’s New launches 2022 to replenish stock. There is a consensus that Demand will outstrip Supply again. The Supply Chain Issues Globally has had adverse movement of goods. The Russian-Ukraine war, has already made Oil prices rocket increasing all type of commodities: Aluminum 100%, Steel 18% and concrete 9%. In Short, increasing the cost of developers to build.
All of that on the tail of insane amount of liquidity that is put into the markets to prop up economies, there really is very little argument against a price increase.
While some Real Estate owners are salivating at their unrealized Capital Gains, the greater opinions of most is, can this go on forever? In a bizzare ‘Befuddlement’ that despite December 2021 cooling measure, people ask why are prices still continued to rise?
Thats why there is a higher than normal monitoring for New Condo Launches releasing into the market this year.
All Eyes on New Launches
Approximately 41 new condos will be launched in 2022, totaling 5,389 units. Based on unit count, 22% of units are located in the Core Central Region (CCR), 37% in the Rest of Central Region (RCR), and 41% outside the Core Central Region.
Earlier this year, Belgravia Ace was launched. It far exceeded expectations for freehold cluster housing and sold 72% of its units on its first weekend. With a price point of just $1,041 PSF, buyers were attracted to this project. This has also firmly set the tone for 2022 New launches.
Despite the increase of ABSD with Cooling Measures, the prices of properties have continued to rise. When looked at, the New ABSD affects mostly foreigners and multiple property owners, with New Buyers not as much affected. The broader property market took a much needed breather in January and February. But signs showed in March that buyers are now getting used to the measure and possibly coming back with even more fervor.
Recent Government Land Sales have showed that developers are buoyant and bullish about the coming years’ sales. Winning bids have all been new record highs.
And with the Limited Land release by the government, En Bloc season is now back in full force. Record highs for older condo projects and even previously failed En blocs are making a resurgence and successfully clsoing.
These new condo developments that are scheduled for completion in 2022. You can also follow Singapore property prices from the Singapore property price index.
Guide to 2022 New Launches
Piccadilly Grand on Northumberland Road in District 8
With its city-fringe location, mixed development appeal, and diverse unit mix, including dual-key units, Piccadilly Grand is one of the most anticipated EC launch 2022 according to Singapore budget 2022. Development for Piccadilly Grand is expected to begin in April 2022 and will be jointly developed by CDL and MCL Land.
The Belgravia Ace, located at Belgravia Drive in District 28
The first project to launch in 2022 will be Belgravia Ace; strata landed housing project. In addition to 107 residential units, Belgravia Ace has three terraced houses and 104 semi-detached homes. It is part of a group of three strata-landed projects at Belgravia Drive, off Ang Mo Kio Avenue 5.
Sophia Regency (en bloc site) at District 9
In District 9, another freehold en bloc site in Sophia Regency was purchased in a private transaction for $29 million. In other words, it’s about $1,200 per square foot per year. There will be 36 condo units in the Sophia Regency, approximately 700 square feet.
Sophia Ville / Fairhaven (en bloc site) at District 9
JLL sold the two adjacent freehold condominiums, Fairhaven, and Sophia Ville, through collective sales to a developer in the local area.
Redevelopment of the site could result in over 50,000 square feet of gross floor area for prime residential apartment development. You need to know about the URA master plan before investing. You can take help from URA master plan 2019 and URA master plan 2020.
Surrey Point (en bloc site) at District 11
A joint venture (JV) owned the freehold residential development at Surrey Point for S$47.8 million. The site can potentially yield up to 36 units of average size 85 square meters (914 sq ft), and there is the option of developing it into “a high-rise apartment with unobstructed panoramic views of the Bukit Tunggal Good Class Bungalow Area and the Chancery Lane landed estate” if development proceeds.
Royal Hallmark at Haig Road, District 15
A freehold condo will be launched in District 15 in 2022 with Royal Hallmark. The Royal Hallmark at Haig Road offers a selection of 12 spacious apartments, which include apartment types such as 3-bedrooms, 4-bedrooms, and 5-bedrooms.
The Baywind Residences at 95 Lorong N Telok Kurau, District 15
Baywind Residences is a 5-storey block; there will be 24 residential units in this freehold development on 95 Lorong N Telok Kurau. An anticipated launch date for the freehold project is in mid-March or April 2022.
Tanah Merah Residences in Tanah Merah Kechil Link, District 16
One of the most highly anticipated condominium developments in 2022 will be Tanah Merah Residences. A Shopping Mall and over 265 residential units are included in this mixed-use development. MCC Land (Singapore) Pte Ltd is the developer of this project.
Arden – Phoenix Road, District 23 (en bloc)
It will be located off Choa Chu Kang Road, on Phoenix Road, and is expected to open in February 2022. A 105-unit project by Qingjian Realty, The Arden, will feature the company’s trademark Co-Space, which allows each unit to have maximum living space.
North Gaia EC in 9 Yishun Ave, District 27
North Gaia EC will launch in April 2022 as the first Executive Condominium. A new EC hasn’t been found in Yishun for six years. In close proximity to Yishun Ave, 9 are hawker centers, bus interchanges, and Yishun MRT Station.
Marina View – Boulevard View, District 1
Boulevard View at Marina View is situated within Singapore’s Central Business District (CBD). A development to be composed of residences, hotels, offices, and serviced apartments. The project could result in 905 private homes, 2,000 square meters of commercial space, and 540 hotel rooms.
The Maxwell House (en bloc site) at Maxwell Road, District 1
At 20 Maxwell Road, Maxwell House is another new mixed-use development coming to the CBD in 2022. The property spans 41,799 square feet on a trapezoidal island plot with a plot ratio of 4.3. The property is currently zoned “commercial.”.
Liv@MB, District 15
Bukit Sembawang redeveloped the Katong Park Towers into Liv@MB at Mountbatten Road. District 15 will be revitalized by two towers offering 298 apartments and penthouses, including units ranging from one to four bedrooms. If you know about URA land sale, you can make a better investment in real estate.
Lorong, K Telok Kurau in District 15 is Ji Liang Gardens
A large portion of Ji Liang Gardens en bloc is located in District 15. In addition to Eunos MRT station, upcoming Thomson-East Coast Line stations Marine Terrace and Marine Parade are within walking distance.
Atlassian (en bloc) – Joo Chiat Terrace, District 15
Developed by niche developer K16 Development, Atlassia is a boutique condo in Joo Chiat Terrace. An old row of shophouses will be redeveloped. On level one, there would be commercial and residential units.
Gems Ville (en bloc site) – 6A Lorong 13 Geylang, District 14
Gems Ville, located at 6A Lorong 13 Geylang, is a city fringe condo. East Asia Geylang Development will launch this freehold condo. It may have between 1 to 3 bedrooms, suitable for buyers looking to live in the RCR area.
Kovan Jewel – Hougang, District 19
After The Florence Residences launch in 2021, the Kovan Jewel along 51A Kovan Road will add to the property landscape in Hougang. Soon Lian Realty Pte Ltd will be developing it, and 34 units are expected to be constructed.
Ang Mo Kio 1 Residences in District 20
Fifteen bids for Ang Mo Kio ONE 1 Residences, with the highest bid of $381.38 million, or nearly $1,118 per square foot per plot ratio (PPR psf). An MRT station within 8 minutes walking distance, along with shopping malls and other amenities within a mature estate, makes this a new condo launch in Singapore that investors and upgraders can look forward to.
The Pollen Collection at Nim Road, District 28
Strata landed condominium project called Pollen Collection is expected to launch in 2022, but it will be leasehold rather than freehold. It is part of the Nim Collection II project. In the same way as Belgravia Ace, this project will use the URA’s new landed housing guidelines. Under these guidelines, interior space designs and configurations can be more flexible.
In Summary, the New Launches Condos in Singapore is booming as demand for housing remains strong. The construction of new condominiums is in high order, but chances are supply will still remain short when compared.
So if you are thinking of taking a position in Singapore’s real estate, its good to remain prudent.