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Freehold Mixed Development at the Fringe of City Center (Balestier) –
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2018 Market Recapped:
Singapore’s real estate market has been one of the hottest topics in many newspapers in 2018. I bet it will continue to be like that in 2019. Many developers and analysts first believed in a positive market outlook in 2019. But with new regulations in place, I’m not that certain.
After being in a downward trend since 2013, Singapore’s real estate market finally began to show signs of recovery in Q2 2017. If we compare 2018 with 2017, we can see that the real estate market gradually recovered and housing prices started to rise significantly in the first months of 2018.
Increased Additional Buyer’s Stamp Duty as of 2018
The high price increases in Q1-Q2 in 2018 (reaching over 3%) outperformed the government’s and analysts’ expectations, threatening a smooth recovery of the market.
In an attempt to cool down the market, the government announced several curbs in July 2018:
- A 5% increase of the Additional Buyer’s Stamp Duty (ABSD)
- A tightened Loan-to-Value (LTV) ratio by 5%, even when buying a first home
Developers will have to pay 25% more in tax of the land costs (increased from 15%), if they buy land for redevelopment. This is a popular option as vacant land is scarce
The 5% increase of the ABSD rate applies to citizens and permanent residents when buying buying a second home, which will now be 15%. Non-permanent residents and citizens on the other hand need to pay a hefty ABSD rate of 20%,for both first and second homes.
What’s coming up in 2019?
We provide here a compilation of the upcoming condominiums and apartments that are slated to be launched for sale this year. The basis for estimation are based on the time of sites that were sold in 2018, then the adding of a few months to account for closing of deal, preparation of land, appointment of consultants by the purchaser etc. Some of the developments are still pending for the official name. For those cases from en-bloc sales, we temporary use the former project names, or address of site for government land sales (GLS).
This post will be updated occasionally as new information arises on the progress of these condominiums/ apartments. Please Kindly bookmarked it or register interest in the Google form, so we can update you the market in timely manner.
To ease your reference, we had mapped the new developments that are expected to be launched for sale in 2019 into single Google Map as the following.
A brief info (project name, address, developer, and expected total number of units) can be seen when you click on the marker.
The following table summarised all upcoming projects at a glance. The list in table and mapping will be updated accordingly shall there is anything new coming up in our records.
|Propject Name||Location||District||Tenue||Developer||No of Units|
|Serviced Apartment with Commercial Space (Former Chinatown Plaza)||Craig Road||2||Freehold||Royal Golden Eagle||180|
|Former Landmark Tower||Chin Swee Road||3||99-years||ZACD Group & MCC Land||390|
|Former Pearl Bank Apartments||Pearl Bank, off Outram Road||3||99-years||Capitaland||810|
|Private Residential and Commercial Development||Silat Avenue, off Kampong Bahru Road||3||99-years||UOL Group, UIC & Kheng Leong||1,074|
|Former Park West||Jalan Lempeng||5||99-years||SingHaiyi Group||1,765|
|Normanton Park||Normanton Park||5||99-years||Kingsford Huray Development||1,900|
|Uptown @ Farrer||Perumal Road||8||99-years||Low Keng Huat (Singapore)||116|
|1953 @Tessensohn||1 Tessensohn Road||8||Freehold||Oxley Holdings|
|RV Altitude||River Valley Road||9||Freehold||Roxy-Pacific Holdings||140|
|Former Cairnhill Heights||Cairnhill Rise||9||Freehold||Tiong Seng & Ocean Sky||50|
|Former Cairnhill Mansions||Cairnhill Road||9||Freehold||Low Keng Huat||200|
|Former Makeway View||Makeway Avenue, off Kampong Java Road||9||Freehold||Bukit Sembawang Estates||150|
|Former Pacific Mansion||River Valley Close||9||Freehold||Guocoland & Hong Leong Investment Holdings||720|
|Former Park House||Orchard Boulevard||9||Freehold||Shun Tak Holdings||170|
|Former Riviera Point||Kim Yam Road||9||Freehold||Macly Group||60|
|Private Residential with Commercial space on the first level||Jiak Kim Street||9||99-years||Frasers Property||452|
|Private Residential Development||Cuscaden Road||9||99-years||SC Globa Developments, New World Development & Far East Consortium Int’l||220|
|Private Residential Development||Handy Road||9||99-years||City Developments||130|
|Redevelopment of 14A Nassim Road||Nassim Road||10||Freehold||Shun Tak Holdings||123|
|Former City Towers||Bukit Timah Road||10||Freehold||Japura Development, a unit of CK Asset Holdings (formerly Cheung Kong Property)||290|
|Former Hollandia and The Estoril||Holland Road||10||Freehold||Far East Consortium International||310|
|Former Royalville||Bukit Timah Road||10||Freehold||Allgreen Properties||320|
|Former Toho Mansion||Holland Road||10||Freehold||Koh Brothers Group||90|
|Former Tulip Garden||Farrer Road||10||Freehold||MCL Land & Yanlord Group||672|
|Jervois Prive (former Jervois Green)||Jervois Road||10||Freehold||Spring Court owner-led consrtium||50|
|Juniper Hill (former Crystal Tower)||Ewe Boon Road||10||Freehold||Allgreen Properties||120|
|Petit Jervois (former Jervois Gardens)||Jervois Road||10||Freehold||SC Global Developments||55|
|Royal Oak Residence||Anderson Road||10||Freehold||Far East Consortium International||110|
|Private Residential and Commercial Development||Holland Road||10||99-years||Far East Organization, Sino Land & Sekisui House||850|
|Fourth Avenue Residences||Fourth Avenue||10||99-years||Allgreen Properties||470|
|35 Gilstead (former Casa Contendere)||Gilstead Road||11||Freehold||TEE Land & TG Development||70|
|Dunearn 386 (Former Dunearn Court)||Dunearn Road||11||Freehold||Roxy-Pacific Holdings||36|
|Former Chancery Court||Chancery Lane,off Dunearn Road||11||99-years||Far East Organization||480|
|Former Dunearn Gardens||Dunearn Road||11||Freehold||EL Development||348|
|Fyve Derbyshire (former Derby Court)||Derbyshire Road||11||Freehold||Roxy-Pacific Holdings||70|
|Former Kemaman Point||Jalan Kemaman, off Balestier Road||12||Freehold||Soilbuild Group||162|
|Former Eunos Mansion||Jalan Eunos||14||Freehold||Fragrance Group||230|
|Rezi24 (former Residences 1)||Lorong 24 Geylang||14||Freehold||KSH Holdings, Lian Beng Group & Heeton Holdings||90|
|Private Residential Development||Mattar Road , off Aljunied Road||14||99-years||Hock Lian Seng, Keong Hong Holdings & TA Corporation||250|
|Former Amber Park||Amber Gardens||15||Freehold||City Developments & Hong Realty||529|
|Former Casa Meyfort||Meyer Road||15||Freehold||Guocoland||310|
|Former Katong Park Towers||Arthur Road, off Mountbatten Road||15||99-years||Bukit Sembawang Estates||390|
|Former Lodge 77||Upper East Coast Road||15||Freehold||KTC Group||50|
|Former Parkway Mansions||Amber Road||15||Freehold||Sustained Land-led consortium||140|
|Nyon||12 Amber Road||15||Freehold||Aurum Land (Private) Limited|
|Former Pomex Court||Lorong 101 Changi||15||Freehold||K16 Development (shareholders Yang Hui’en & Irawan Gawain)||40|
|Meyerhouse (Former Nanak Mansions)||Meyer Road||15||Freehold||UOL Group||56|
|One Meyer (former The Albracca)||Meyer Road||15||Freehold||Sustained Land||60|
|Former Changi Garden||Jalan Mariam||17||Freehold||Chip Eng Seng||300|
|Treasure @ Tampines (former Tampines Court)||Tampines Lane||18||99-years||Sim Lian Group||2,200|
|The Florence Residences (悦湖苑)||Florence Road, off Hougang Avenue 2||19||99-years||Logan Property||1,450|
|Former Pei Fu Industrial Builing||New Industrial Road, Off Upper Paya Lebar Road||19||Freehold||SLB Development & Oxley Holdings||96|
|The Gazania (former Sun Rosier)||How Sun Drive||19||Freehold||SingHaiyi Group||250|
|The Lilium (former How Sun Park)||How Sun Road||19||Freehold||SingHaiyi Group||80|
|Private Residential and Commercial Development||Sengkang Central||19||99-years||CapitaLand & City Developments||1,110|
|Executive Condo||Sumang Walk, off Punggol Centra||19||99-years||City Developments||800|
|Executive Condo||Anchorvale Crescent||19||99-years||Evia Real Estate & Gamuda Bhd||550|
|Executive Condo||Canberra Link||19||99-years||Hoi Hup and Sunway Developments||385|
|Parkwood Collection||Lorong 1, Realty Park, Off Hougang Avenue/Upper Serangoon Road||19||99-years||Fantasia Investment (Singapore) Pte Ltd, Sun Renwang & Yang Xinping||53|
|Former Brookvale Park||Brookvale Drive, off Sunset Way||21||999-years||Hoi Hup Realty & Sunway Developments||790|
|Former Goh & Goh Building||Upper Bukit Timah Road||21||Freehold||BBR Holdings||120|
|Former Goodluck Garden||Toh Tuck Road||21||Freehold||Qingjian Group & Perennial Real Estate Holdings||669|
|Former Kismis View||Lorong Kismis, off Toh Tuck Terrace||21||99-years||Roxy Pacific & Tong Eng Group||160|
|Private Residential Development||Jalan Jurong Kechil||21||99-years||CSC Land Group & China Overseas Holding||284|
|Former Phoenix Heights||Phoenix Avenue, Choa Chu Kang||23||99-years||OKP Holdings||79|
|Private Residential Development||Dairy Farm Road||23||99-years||United Engineers||589|
|Private Residential Development||Hillview Rise||23||99-years||Hong Leong Group||570|
|Lattice One||Seraya Crescent, off Upper Thomson Road||26||Freehold||TEE Land||40|
|The Essence||Chong Kuo Road, off Sembawang Road||26||99-years||Lian Soon Holdings & OKP Land||80|
The Singapore property market will most likely slow down in 2019. Developers and buyers are cautious after the government decided to increase the Additional Buyer’s Stamp Duty, and the LTV ratio. It’s clear that the government introduces curbs to keep avoid further price increases.
The overall performance of the economy will also have an impact. If the growth rate remains better than expected, buyers can also return to the market sooner than expected.
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