Q2 2020 is a unique and interesting period for the Singapore property market to say the least. The Ministry of Manpower (MOM) reported that retrenchments more than doubled to 8,130 in Q2 2020 compared with the first quarter of the year. Yet the Urban Redevelopment Authority's (URA) flash estimates showed that private home prices defied the pandemic to edge up in the second quarter. The data showed that property prices rose 0.3 per cent in Q2 from the previous three months, reversing recent decline. The rise is in stark contrast to the 1 per cent decline in the first quarter, and puts prices up 1.2 per cent from the second quarter of last year.
It is also the period the Singapore government implemented the circuit breaker on 7 April. During the Circuit Breaker, members of the public were strongly advised to stay at home and avoid going out unnecessarily, except to purchase daily necessities, essential services, or for urgent medical needs. Social gathering was also restricted to immediate family members living in the same household.
Despite all that, in Q2 2020, developers launched 1,852 incomplete private residential units excluding executive condominiums (ECs) and sold 1,713 units (excluding ECs). New home sales volume picked up from the end of April as buyers got used to “transacting-from-home”, and some buyers made purchases based on project brochures and virtual tours.
Of the top 5 selling projects in Q2, 3 are in the Outside Core Region (OCR), 1 in the Rest of Central Region (RCR) and 1 in the Core Central Region (CCR). Let’s take a look at the individual selling projects in Q2 2020, and examine as to why they could be selling better than other projects.
Treasure at Tampines (OCR)
The top selling new launch project in Q2 with 185 units sold. As of 15 July 2020, total number of units sold was 1,468. Launched in March 2019 at a median price of $1,335 psf, Treasure at Tampines is the former Tampines Court, sold en bloc to developer Sim Lian Group. This mega project has 29 twelve-storey blocks comprising 2203 units, ranging from 1 to 5 bedders. Conveniently located in the Tampines Estate, this development is within walking distance to Simei MRT station and easily accessible via Tampines Expressway (TPE) and Kallang - Paya Lebar Expressway (KPE).
Source: Treasure at Tampines Official Website
Amenities nearby include East Point Mall, Tampines Mall, Century Square, Changi Hospital and reputable schools St. Hilda’s Primary, Gongshang Primary and Tampines Primary schools and Temasek Junior College.
Parc Clematis (OCR)
Parc Clematis is the second best selling new launch project in Q2 with 154 units sold. As of 15 July 2020, total number of units sold was 924. Launched in August 2019 at a median price of $1,615 psf by developer Sing Haiyi Group, Parc Clematis is the former Park West condominium. The new development has 1,468 units of 1 to 5 bedrooms plus penthouses. Within walking distance to the Clementi MRT station, it is also easily accessible via the Ayer-Rajah Expressway (AYE) and the Pan-Island Expressway (PIE).
Source: Parc Clematis Official Website
Amenities nearby include Clementi Mall, National University Hospital (NUH) and educational institutions like National University of Singapore (NUS), Singapore Polytechnic (SP) and Ngee Ann Polytechnic (NYP). Going into town is easy as the Orchard shopping belt is only 8 MRT stations away or a 20 mins drive. The attraction of this area is that the future second Business District of Singapore in Jurong is only one MRT station away.
The Florence Residences (OCR)
The Florence Residences is the third best selling new launch project in Q2 with 150 units sold. As of 15 July 2020, total number of units sold was 861. Launched in March 2019 at the median price of $1,434 psf, the former Florence Regency was sold en bloc to Logan Property. This new launch condominium has 9 12-storey blocks, comprising 1410 units, ranging from 1 - 5 bedroom units and a club condo concept with 128 stunning facilities.
Source: The Florence Residences Official Website
Conveniently located at Hougang Avenue 2 in the mature Hougang Estate, it is within walking distance to the upcoming Cross Island Line Hougang MRT interchange, Hougang Mall, and well-known schools such as XinMin Primary School, Montfort Junior School and Holy Innocents’ High School.
For residents who drive, getting to the different parts of Singapore is a breeze with easy access to the Central Expressway (CTE) and Kallang Paya Lebar Expressway (KPE).
Parc Esta (RCR)
Parc Esta is the fourth best selling new launch project in Q2 with 137 units sold. As of 15 July 2020, total number of units sold was at 1,363. Developed by MCL Land and launched in November 2018 with a median price of $1,703 psf, the former Eunosville will be developed into a 9 18-storey project with 1,399 units of 1 to 5 bedders.
Source: Park Esta Official Website
Parc Esta is located along Sims Avenue, right across the Eunos MRT station. At a little more than 200m away, the well-known Geylang Serai Market is a short walk away. Other nearby shopping malls include Katong Mall, OneKM, Joo Chiat Complex and Kembangan Plaza. Schools located nearby are Eunos Primary School and Telok Kurau Secondary School.
For residents who drive, the Pan-Island Expressway (PIE), Central Expressway (CTE) and East Coast Parkway (ECP) are easily reachable.
Kopar at Newton (CCR)
KOPAR at Newton is the fifth best selling new launch project in Q2 with 121 units sold. As of 15 July 2020, total number of units sold was at 160. Kopar At Newton was the first project launched for sale amid the heightened COVID-19 guidelines announced on March 24, and ahead of the 28-day "circuit breaker" moratorium which would see all show flats closed from 7 April to 4 May 2020. Despite that, it still managed to sell 77 units on the launch weekend via a digital platform.
Situated in the prime district 9, it is strategically located along Newton Road, just off Orchard Road. When completed, this development will have 2 23-storey towers comprising 378 units. With the Newton MRT station only a three minute walk away, it is easy to get to the Central Business District (CBD) and the Marina Bay area.
Directly opposite is the well-known Newton Food Centre where you can find a wide variety of delicious local food. Within the area are various reputable schools, namely Anglo-Chinese Junior School, Anglo-Chinese Primary and Secondary Schools (Barker) and Singapore Chinese Girls’ School (SCGS).
So there you have it – the top 5 selling new launch projects in Q2 2020. All five projects are reasonably priced at their launch, within walking distance to MRT stations, with good amenities and reputable education institutions nearby.
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