Property Insights

Snap Shot of Potential New Launches in 2022

Home hunters looking to buy a private property could be faced with a tighter selection of units this year. PropNex estimates that over 30 new launches, including three executive condominium (EC) projects could hit the market in 2022 – potentially offering some 8,000 to 9,000 new homes. In addition, many of the launches in 2022 are small-to mid-sized developments. Based on the launch pipeline for 2022 – about 36% of the units will be in the Outside Central Region (OCR), 37% in the Rest of Central Region (RCR), and about 27% in the prime Core Central Region (CCR). These launches – especially in the OCR, also known as the mass market – will go some way to meeting demand from owner occupiers.
Region
CCR
RCR
OCR
Grand Total
Estimated No. of units to be launched in 2022 ( incl. ECs)
2,489
3,366
3,305
9,160
Source: PropNex Reasearch, PropNex International

what's interesting about the potential launches in 2022?

  • Mass market homes near an MRT station

Buyers looking for an OCR project that is conveniently located within easy reach of an MRT station will have a few options this year. They include the Tanah Merah Kechil Link project (at the doorstep of Tanah Merah MRT station) by MCC Land, GuocoLand’s new launch at Lentor Central (will be integrated with Lentor MRT station), and the upcoming development in Ang Mo Kio Avenue 1 (about 500m from Mayflower MRT station) by a joint venture between UOL Group, Singapore Land Group and Kheng Leong Company.

Top 10 Potential New Launches (incl. ECs) in 2022 By Estimated Number of Units

Project Name
TBA
TBA
TBA (EC)
TBA
TBA (EC)
TBA
North Gaia (EC)
TBA (EC)
TBA
TBA
TBA
Liv @ MB
Location
Marina View
Jalan Anak Bukit
Tengah Garden Walk EC
Lentor Central
Tengah Garden Walk EC
Lentor Central
Yishun Ave 9 EC
Tampines Street 62 EC
Northumberland Road
Ang Mo Kio Ave 1
80 Anson Road (former Fuji Xerox Towers)
Arthur Road (former Katong Park Towers)
Region
CCR
RCR
ORC
ORC
ORC
ORC
ORC
ORC
RCR
ORC
CCR
RCR
Estimated No. of Units
905
845
615
605
615
605
600
590
407
370
300
298
Source: PropNex Reasearch, PropNex International

TENGAH GARDEN WALK (EC)

D34 – LIM CHU KANG, SUNGEI TENGAH
Land Price: $400,320,000

Project Name

Road
Location
District
Broad Region
Country
Category
Model
TENGAH GARDEN WALK (EC)
TENGAH GARDEN WALK
Local
D24 – LIM CHU KANG, SUNGEI TENGAH
Out Side Central Region (OCR)
Singapore
NON – LANDED RESIDENTIAL
EXECUTIVE CONDOMINIUM

ANG MO KIO AVE 1

D20 – BISHAN, ANG MO KIO
Land Price: $381,380,000
Project Name
Road
ANG MO AVE 1
ANG MO AVE 1

New Private Home Sales More Than Doubled From December To January, Driven By A New Mass Market Project

15 February 2023, SINGAPORE – Developers’ sales more than doubled in January from December, boosted by the launch of Sceneca Residence during the month. New private home sales in January came in at 391 units (ex. Executive Condos), marking a 130% jump from the 170 units transacted in the previous month. However, sales were still down on a year-on-year basis, falling by almost 43% from the 684 units shifted in January 2022. The 391 units sold in January is the highest monthly sales since 987 units changed hands in September 2022.

RESIDENTIAL PROPERTY MARKET OUTLOOK (2023 Edition)

The Singapore residential property market has been remarkably resilient in 2022, keeping its momentum in price growth in both private housing and the HDB resale flat segments. While underlying housing demand generally remained healthy, the limited stock of new launches and resale homes available for sale have crimped transaction volumes. Meanwhile, the residential rental market continued to surprise on the upside with strong rental growth amid persistent demand drivers and tight rental supply.

Testimonial