1H2022 Upcoming New Launch Condos to Look Out For
Following cooling measures announced on Dec 16, the Singapore New Condo Launch market is targeting to bounce back in the 1st half of 2022.
In my previous edition of the New Launch Condos for 2H2021, all of them have already launched with the exception of Liv@MB.
Which, has yet to confirm their launch date.
But it would most likely also be within the 1st half of 2022. So, if you’re looking for the next Mega, Full Facility Launch in the East, hang tight for a little longer!
Without further ado, here’s what I’ll be looking at for each new condo on this list:
- The location
- Nearby Condos Price Trend
- Break Even Price
- 1 Good, and 1 Not so Good about it
Note that for most of these projects, there hasn’t been much information released yet, so I’m basing my comments from already known facts.
Mostly with an investment lens.
If it’s for own stay, keep my comments in mind, but if you really fall in love with the product, then let your heart take the lead
The 9 New Launches (including 1 BONUS), are as follows:
- Royal Hallmark
- The Arden
- Piccadilly Grand
- North Gaia
- Tanah Merah Kechil Link
- Ang Mo Kio Ave 1
- Marina View
- BONUS Project
Let’s Dive Right In!
First up, opening for Preview this weekend 12th February 2022, we have the 32-unit, boutique development located in District 15.
Those familiar with the area will know that it is home to numerous boutique projects.
A closer look at the price trend of surrounding developments will show very limited price increases over the last 10 years.
The nearby condo with the highest PSF is Katong Regency which TOP-ed in 2015.
However, that is likely to change in the near future with a land bid at nearby Thiam Siew Avenue all but confirming future launch pricing of about $2,500 psf on average.
Royal Hallmark Breakeven Price
Guide prices for Royal Hallmark have already been released.
They will start from $1,7XX psf, representing a 20%+ profit margin for the developer.
Having looked at the project details, I do expect strong interest for this project as there are unique features which help it stand out from other nearby boutique developments.
Viewing slots for the first weekend are fully booked.
Hurry book your slots for Royal Hallmark before units are snapped up at launch.
1 Good about Royal Hallmark: Standout design concept with modern facilities.
1 Not so Good about Royal Hallmark: No 1- or 2-bedroom units. Hence buyers looking for a low entry price will be disappointed.
Smallest unit starts from a 3-bedroom Classic at 797 sqft.
<<<<Brochures, Floor Plans and Pricing Released>>
Located approx. 200m to Phoenix LRT station and just over 500m to Bukit Panjang Downtown Line Station, The Arden is a boutique project helmed by developer Qingjian Realty.
Along with the improvement in connectivity with the completion of the Downtown Line, average PSF prices for condos around Bukit Panjang MRT have seen gradual price appreciation over the last 10 years.
The Arden Breakeven Price
At a cost of $630 psf ppr, The Arden’s land cost is lower than Executive Condominium sites today.
Sources have estimated prices at the boutique project to average about $1,4XX psf.
That seems to be the norm for Outside Central Region (OCR) properties moving forward, Watergardens at Canberra for example.
1 Good about The Arden: With the land price, and post cooling measures, I am still hopeful that we might see prices from $13xx psf. If so, it would be cheaper than Phoenix Residences and an attractive proposition.
1 Not so Good about The Arden: 3 blocks on a 6,465sqm land size is tight, so don’t expect much outdoor space, nor views and privacy for a number of facings.
<<VVIP LAUNCH PRICING ONLY>>
The Arden Info & Registration
A joint venture between CDL & MCL Land, this highly anticipated project is scheduled to open for preview in Apr 2022.
Below are some of the Project Information sofar released:
A) 407 units – 1 to 5 Bedroom
B) 3 blocks of 23 storey high with Commercial (Retail/F&B/Childcare Centre) at 1st Storey
C) Direct Link to Farrer Park Mrt, 2 stops to Dhoby Ghaut Interchange
D) Comprehensive Facilities
Populated with numerous boutique freehold condos nearby, properties around Farrer Park MRT Station have nevertheless seen values appreciate gradually over the last decade.
Piccadilly Grand Breakeven Price
With an estimated breakeven of $1,837 psf ppr, I am expecting the launch pricing to average above $2k psf.
It should be able to command a higher price than nearby Uptown @ Farrer which launched in late 2019 and has transacted at a $1885psf average.
1 Good about Northumberland Road Project: The first full facility mixed development directly linked to Farrer Park MRT Station.
1 Not so Good about Northumberland Road Project: While attractively priced given its proximity to the city, will the Farrer Park locale be able to attract enough owner occupiers willing to pay the resale premium? The area is after all more associated with bustling activity as well as being a popular hangout place for migrant workers.
<<VVIP LAUNCH PRICING ONLY>>
Piccadilly Grand Info & Registration
North Gaia (Executive Condo)
After a number of EC launches further north at Canberra, it’s Yishun’s turn.
Looking at condos nearby Yishun, you’ll find that there aren’t many.
The best comparable would be to look at Symphony Suites right next door.
Price has appreciated to an average of S$1,200 psf from only about S$1,000 psf 7 years ago.
The last EC launch was Parc Greenwich, which sold 65% over launch weekend at an average of about S$1,200 psf.
At nearby Canberra, the most recent EC launch, Provence Residence, average S$1,165 psf.
North Gaia Breakeven Price
With breakeven at an estimate S$1,025 psf ppr, my expectation is for average pricing to be between $1,150 to $,1200 psf, with a higher price loading given to units facing unblocked northeastward.
1 Good about North Gaia: Possibly the cheapest launch (with the best views), in 2022. Provided you qualify!
1 Not so Good about North Gaia: Beside an industrial area, far from MRT station. Niche resale market with Canberra properties as competition.
<<VVIP LAUNCH PRICING ONLY>>
North Gaia Info & Registration>>
Tanah Merah Kechil Link/Sceneca Sq
The area has witnessed massive transformation over the last 10 years, with the 4 nearby condos Optima@Tanah Merah, The Glades, Urban Vista, and Grandeur Park Residences completing within this time frame.
From this, we can see that owners at Grandeur Park Residences made the most gains in the shortest period of time.
They had an attractive entry price then in 2017 whereas owners at Urban Vista at The Glades mostly entered at a market high in 2013.
Tanah Merah Kechil Link Breakeven Price
Likely to be hyped as an integrated development, I would expect the project to sell at a 15-20% above nearby Grandeur Park Residences.
That translates to about S$1,850 – S$1,900 psf average selling price.
For comparison, other recent integrated developments Pasir Ris 8 and Park Place Residences are transacting at S$16,xx psf and $1,9xx psf on average.
1 Good about Sceneca Sq: the only mixed development (with commercial on level 1), at Tanah Merah MRT station.