Remember the days of buyers snapping up condo units like hotcakes, and developers achieving huge sell-outs on launch weekends?
Well, those days might be a distant past. Instead buyers today could face a new problem - having too many choices! With the numerous projects launching this year, we picked out 5 that we have our eyes on.
First thing to note, these are NOT our purchase recommendations, but simply developments that we think could be interesting. As we're still early, not much information is available for most of the projects, so we're basing it on the available info.
All aligned? Here we go!
1. Lumina Grand
The only EC launch in 2024, Lumina Grand sits just next to the previously launched Altura. Drawing over 2,000 visitors during the launch weekend of 13-14 January, units start from $1.338 million ($1,429psf) for a three-bedder, and $1.628 million ($1,427 psf) for a four-bedder.
With Altura being 88.9% sold (as of 15 Jan), and Copen Grand 100% sold, Lumina Grand will be a welcomed option for buyers looking to purchase an EC in Bukit Batok.
[Update: It was 53% sold on launch weekend, with average PSF of $1464]
2. SORA
The frequent comparison to the previously launched Lakegarden Residences, the key attractive point about SORA is the land bid price being >$200 psf lower than its close competitor (est. $1,023 psf ppr vs est. $1,250 psf ppr).
However sales of Lakegarden Residences was slightly lacklustre (31% sold as of 17 Jan 2024), so we believe the launch price will determine if SORA’s launch will be comparable to j’den or Lakegarden Residences.
Preview date: 22 June 2024
Launch date: 7 July 2024
Preview appointment bookings are now open. Click here to > book your preview slot today!
3. Toa Payoh GLS site (name TBD)
Being eight years since the last launch in Toa Payoh, this development will likely see hype levels similar to the AMO launch in 2021 (although extremely hard to match at 98% sold on launch weekend).
Mind you, this won’t be cheap though. With an estimated breakeven price of $2.3k PSF, we’ll likely see the highest leasehold RCR launch pricing this year.
4. Champions Way GLS site (name TBD)
Garnering the interest of 6 developer bids, this marks the first private development in Woodlands since 2011 - when Woodhaven was launched. This was also the highest number of bids for non-executive condo sites in 2023 - and indication of the expected demand.
The location is likely to supplement the pent-up demand, with it being just a short walk away from Woodlands South MRT. This takes you to Orchard in just 10 MRT stops, a quick 23 minutes ride!
5. Tampines North Integrated Development GLS site (name TBD)
Integrated developments have always been a crowd favorite in Singapore, with the most recent success being The Reserve Residences - 71% sold on launch weekend and Canninghill Piers - 77% sold on launch weekend).Due to their connectivity to a transport node (MRT/Bus interchange) and a commercial mall, integrated development makes for an extremely accessible place to call home.
Another point that caught our attention was the list of developers - UOL, Singland and Capitaland. UOL and Singland has collaborated on several higher-end developments like Avenue South Residence and Pinetree Hill. To top it up, Capitaland, Singapore’s largest mall operator, was also responsible for the development of Canninghill Piers.
This means we can likely expect a marriage of a high-quality condo development together with a well-managed mall!
And there you have it, our top 5 new launches to look out for in 2024.
Once again, this list is not our ‘to-buy’ recommendations! Property purchase is a long-term decision, and you should do your own research and planning before making any move.
If you’d like to receive the full list of new launch projects in 2024, contact us with the following message "2024 new launch list".
Planning to purchase a property in the next 1-2 years? Check out our new Homebuying101 Masterclass, an online property course for home buyers like you! Registrations are open - free for a limited time period.
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