New Launches / Condominiums in 2023
Latest New Launches
Sceneca @Tanah Merah [99-yrs @D16] ~ $2150 psf – 59.6% Sold On 1st Day
Upcoming Launches in Feb/March 2023
Gems Ville [Freehold @D14] ~ $2000 psf
Terra Hill @Pasir Panjang [Freehold @D05] ~$2500 psf
Tembusu Grand [99-yrs @D15] ~ $2400 psf
The Reserve Residence @Beauty World [99-yrs @D05] ~$2350 psf
The Hill @One North [99-yrs @D05] ~$2300 psf
Blossoms by The Park @One North [99-yrs @D05] ~ $2300 psf
Upcoming New Launches Land price Singapore Late 2022 vs 2023
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What are the new launches coming up in 2023?
Stepping into 2023, we’re expecting around 40 plus new projects, including those didn’t manage to launch in time for 2022. Assuming all the projects listed below will be launched in time for 2023, the number of total units to launch in 2023 will be about the same as 2022, i.e about 12,000 units. But realistically, we should expect about 9,000 units.
Sceneca @Tanah Merah will be the very 1st large scale project to be launch in 2023.
The Largest Freehold development will be The Continuum at Thiam Siew
The Most Affordable private condo should be in District 23, i.e The Arden & Botany @Dairy Farm.
The Most Popular new launches private condo this year might be in District 05 & 21. Highest numbers of EOIs (Express of Interest) among all could be The Reserve Residences at Beauty World
For EC (Executive Condo), mostly will be at Bukit Batok/ Tengah areas. This year new EC should hit $14xx psf averagely selling price based on its land price.
Based on the land sales in 2022, we can do an estimation for possible selling price, by factoring the developer’s costs (i.e licensing, construction, profits margin…etc). The following chart give a general guideline of the selling pricing across different regions for good size developments. I.e
Out of Central Region (OCR) at $2,0xx psf averagely,
Rest of Central Region (RCR) at $2,4xx psf averagely,
Core Central Region (CCR), at $2,9xx psf averagely.
Looking at the price points, you might find that some existing launches are selling at very attractive price compare to upcoming launches. You can checkout the New Launches / Condominiums in 2023 and hope you could still find something suitable. Do ping us anytime if you need to check the balance/ price/ promo for a particular projects. We’re here ready to assist you to the fullness.
We provide here a compilation of the upcoming condominiums and apartments, this post will be updated periodically as new information arises. Kindly bookmark it or register interest in the form at bottom, so we can update you the market in timely manner. You could also Whatsapp Us to have the monthly market update send to your WhatsApp directly.
🔜 = Launching Soon!
🟢 = Open for sales
⭕️ = land acquired late 2022, it might not able to make it to launch in 2023, likely launch in 2024.
2023 New Launches in Singapore
| District | Project | Address | Tenure | Developer | Unit | Land (psf ppr) |
|---|---|---|---|---|---|---|
| 1 | Former AXA Tower | 8 Shenton Way | 99-yrs | Perennial Holdings | 215 | |
| 1 | Marina View | Union Street/ Shenton Lane | 99-yrs | IOI | 686 | $1,379 |
| 1 | Former Maxwell House | Maxwell Road | 99-yrs | Singhaiyi | 250 | $1,183 |
| 2 | Former Realty Centre | 15 Enggor St | Freehold | The Place Holdings | 114 | $2,402 |
| 2 | Newport Residences (Former Fuji Xerox) | Anson Road | Freehold | CDL | 256 | |
| 5 🔜 | Terra Hill (Former Flynn Park) | Yew Siang Road | Freehold | Hoi Hup & Sunway | 271 | $1,355 |
| 5 🔜 | Blossoms by the Park | Slim Barracks Rise (A) | 99-yrs | EL Development | 265 | $1,246 |
| 5 🔜 | The Hill at One North | Slim Barracks Rise (B) | 99-yrs | Kingsford | 140 | $1,210 |
| 5 ⭕️ | Former Gloria Mansion | Pasir Panjang Road | Freehold | Fraxtor Capital | 59 | $1,098 |
| 7 ⭕️ | Former Golden Mile Complex | Beach Road | 99-yrs | Far East, Sino Land | – | |
| 8 ⭕️ | Former Euro Asia | 1037 Serangoon Road | Freehold | KSH, H10 & SLB | – | $1,313 |
| 9 | (3x residential) | 2,4,6 Mount Emily Rd | Freehold | ZACD | 18 | $1,115 |
| 9 | Former Fairhaven &Sophia Ville | 130 Sophia Rd | Freehold | Undisclosed | 90 | $1,158 |
| 9 | Former Peace Center /Mansion | 1 Sophia Road | 99-yrs | CEL, Singhaiyi & KSH | 240 | $1,428 |
| 10 | (3x terraces) | 6A/B/C Robin Drive | Freehold | Robin Development, | 13 | $1,454 |
| 10 | Jervois Prive (former Jervois Green) | 100a Jervois Road | Freehold | Jervois Midas Pte Ltd | 43 | $1,601 |
| 11 | Former Surrey Point | 2 Surrey Road | Freehold | Amara Holdings | 36 | $1,434 |
| 11 | Surrey 21 | 21 Surrey Road | Freehold | Undisclosed | 10 | |
| 11 | Former Watten Estate | Shelford Road | Freehold | UOL & Singapore Land | 200 | $1,723 |
| 11 ⭕️ | (2x residential) | 32/34 Gilstead Rd | Freehold | Kheng Leong | – | $1,643 |
| 14 | Deluxe Residences | 3 Lorong Melayu | Freehold | Kai Lim Development | 41 | |
| 14 🟢 | Gems Ville (former Yuen Sing Mansion) | Lorong 13 Geylang | Freehold | East Asia Development | 24 | $779 |
| 14 | M Suites | 65 Lor Melayu | Freehold | FG Resource Pte. Ltd | 16 | |
| 14 | Former Vicenta Lodge | Lorong Marzuki | Freehold | Undisclosed | 27 | $968 |
| 14 | Mattar Residences | 8 Mattar Road | 99-yrs | FKSH | 26 | $1,109 |
| 14 | The Continuum | Thiam Siew Avenue | Freehold | Hoi Hup & Sunway | 800 | $1,488 |
| 15 🔜 | Grand Dunman | Dunman Road | 99-yrs | Singhaiyi | 1,035 | $1,350 |
| 15 | Amber Sea | 30 Amber Gardens | Freehold | Far East | 132 | $1,066 |
| 15 | Former La Ville | Tg. Rhu Road | Freehold | ZACD | 107 | $1,477 |
| 15 🔜 | Tembusu Grand | Jalan Tembusu | 99-yrs | CDL & MCL Land | 638 | $1,302 |
| 15 | Former East Court | Kong Seng Road | Freehold | Freehold | 19 | $1,063 |
| 15 | Former Haig Road Flats | Haig Road | Freehold | Nanshan Group | 35 | $1,286 |
| 16 🟢 | Sceneca | Tanah Merah Kechil Link | 99-yrs | MCC, The Place Holdings | 268 | $930 |
| 19 | Former Jansen Mansion | Jansen Road | 99-yrs | Macly | 21 | $863 |
| 21 🔜 | The Reserve Residences | Jalan Anak Bukit | 99-yrs | FEO and Sino Group | 700 | $989 |
| 21 | Former Pine Grove | Pine Grove (Parcel A) | 99-yrs | UOL & Singapore Land | 520 | $1,318 |
| 22 ⭕️ | Redevelopment of Jcube | Jurong East Central 1 | 99-yrs | CapitaLand | – | |
| 22 | Former Lakeside Apartments | Yuan Ching Road | 99-yrs | Wing Tai Holdings | 300 | $1,260 |
| 22 ⭕️ | Former Park View Mansions | Yuan Ching Road | 99-yrs | CEL, Singhaiyi & KSH | 440 | $1,023 |
| 23 | (executive condo) | Bukit Batok West Ave 8 | 99-yrs | Qingjian & Santarli | 375 | $662 |
| 23 | (executive condo) | Bukit Batok West Ave 5 | 99-yrs | CDL | 495 | $626 |
| 23 | The Arden | Phoenix Road | 99-yrs | Qingjian | 105 | $630 |
| 23 🔜 | Botany | Dairy Farm Walk | 99-yrs | Sim Lian | 385 | $980 |
| 26 🔜 | Lentor Hills Residences | Lentor Hills Road (A) | 99-yrs | Guocoland, TID | 595 | $1,060 |
| 26 | (GLS) | Lentor Hills Road (B) | 99-yrs | TID | 265 | $1,130 |
| 26 ⭕️ | (GLS) | Lentor Central | 99-yrs | Yanlord, Soilbuild | 470 | $1,108 |
| 28 | Pollen Collection (Landed) | Nim Road | 99-yrs | Bukit Sembawang | 132 |
New Cooling Measure 30-Sept 2022
To align with the latest interest hike environment, government had introduced cooling measures. The New Cooling Measures implemented on 30th Sept 2022, with the effective interest rate factor used to calculate Bank Loan Eligibility had changed from 3.5% to 4%. This is to ensure a prudent borrowing and healthy property market. In a nutshell, your loan eligibility is reduced by 4-6% after the new formula. Not forgetting, your age will be increased +1 starting 1st Jan 2023.
We provide here a mortgage calculator based on latest guideline by MAS (Monetary of Singapore) to have you have a quick check on loan eligibility. Shall you need more help/ clarification, do feel free to approach us for further assistance.
Shall you’re curious how much your loan get impacted because of new age + adjusted TDSR calculation, do let us know, we can help do the calculation for you. ?
Summary
The cooling measures won’t cause the cost of property become cheaper, and developer also limited buffer to adjust. The rising land cost and construction cost are still the key reason driving the property price going north.
This year, the mortgage interest rate will also become a factor to stir up the demands from investors/ home buyers, especially on the resale market. For new launches, the impact of high interest isn’t significant, because of the progressive payment over the years. By the time the instalment kicked in, the interest rate should had start to drop back to nominal level. (Based on predictions by financial experts, the interest rate should hit the peak in Q2/ Q3 2023 at about 5%)
In personal view, Singapore property market in 2023 will most likely seeing muted mode in the 1st half of 2023 till the interest rate started to soften.
DBS & Morgan Stanley both predicted in 2018 that Singapore’s property market price to “double” (or averagely $2,900 psf) by 2030, and so far the trend is still holding true. But it’s hard to know how the new cooling measures will affect the market through the upcoming years. Do keep in touch with us, we will keep you updated the market movement & insights for free. Be it you’re ready, or just Wait & See.
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Alternatively, you can also WhatsApp us for a free consultation if you would like to discuss in details about financing or recommendations of any new launches condominiums and apartments.