There have been a few notable new launches this year that have taken the property market by storm. With Singapore being in a phase of infrastructure upgrading with the rapid construction, expansion and opening of new MRT lines, developers have found new pockets of land to develop to build newer, younger and more vibrant communities.
Despite the rise in ABSD rates (that took place as part of April 2023’s cooling measures), new launches have still sold well overall this year, with many reasons for Singaporeans choosing to opt into buying these properties in to-be-developed areas in the OCR and CCR.
Lentor Hills Residences
Lentor Hills Residences is a reasonably priced development in the Lentor neighbourhood, nestled in-between Yio Chu Kang and Yishun. The area is surrounded by parks and greenery, as well as being within close proximity to good schools such as CHIJ St. Nicholas.
This area became known to Singaporeans with the release of its neighbouring condo Lentor Modern and the Lentor MRT station, which allows residents to reach Orchard in 15 minutes. First mover’s advantage was definitely a factor in the performance of this new launch and we will definitely see further development in this area in the future.
This D23 condo which is located within walking distance from Cashew MRT was one of the most talked about this year. Its close proximity to the Beauty World neighbourhood, which is currently undergoing redevelopment makes for a fantastic location and a more affordable alternative to the other developments in the area, such as The Reserve residences.
Its unique location also allows residents to reach Bukit Panjang via the Downtown line, making more shopping and educational options possible, making The Myst a fantastic upgrading option for younger families.
The Botany @ Dairy Farm
The Botany @ Dairy Farm is the second Bukit Timah condo on our list, differing itself due to its quaint location along Dairy Farm Road. The development will be quiet and serene surrounded mainly by greenery, making it a fantastic choice for nature, outdoor activities and pet lovers.
The Dairy Farm area which may have been considered “ulu” years ago is now more accessible than ever with the opening of Hillview MRT, although the Botany is a slightly longer walk (10 mins) than normal.
The Grand Dunman
The East has always been competitive in the property market, and for good reason. It is full of mature estates, near the coast and a short drive into town. The Grand Dunman made headlines this year upon its announcement and launch, being located in the Dunman Rd landed alcove, meaning that residents get to enjoy privacy and a fantastic view overlooking the landed estate.
The development is located a convenient 2 mins away from Dakota MRT and within the vicinity of good schools such as Tanjong Katong Primary and Chung Cheng High. This made the condo a hit among the East side upgrading crowd looking for private luxury living within reach of fantastic amenities.
Dubbed the biggest freehold new launch project of 2023, The Continuum, located in District 15 was marketed as a premium development with flexible layouts for different demographics of buyers. It made for a fantastic value proposition as an investment property due to its freehold lease status, as well as an upgrade option for families due to its proximity to good primary schools.
While this project is not the most convenient in terms of connectivity, there are loads of amenities located a short drive away, such as the entire Paya Lebar shopping hub. However, due to its freehold status, the property still performed well due to its reasonable price.
Potential is in the future
While there are many condos on the market that are up for lucrative prices, especially older freehold ones, they come with their own caveats - older infrastructure makes for less comfortable living and higher maintenance costs. That is why new launch projects are successful in our market - people often associate the act of ‘upgrading’ from a HDB with moving into a new and exclusive property that they want to live in and to raise their families in.
If you are looking for a new launch project to upgrade and move into, you might want to consider selling your current property. You can now do so easily and affordably through avenues such as our Sell @ MOGUL program, where you can enjoy a tech assisted selling process with all the regular benefits of agent services while paying 0% commission.
Find out more here: https://www.mogul.sg/