Upcoming New Launch Condos In Singapore (1H2022)

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:

  1. Royal Hallmark
  2. The Arden
  3. Piccadilly Grand
  4. North Gaia
  5. Tanah Merah Kechil Link
  6. Ikigai
  7. Ang Mo Kio Ave 1
  8. Marina View
  9. BONUS Project

Let’s Dive Right In!

Royal Hallmark

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>>

The Arden

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

Piccadilly Grand

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.

1 Not so Good about Sceneca Sq: Psf difference to nearby condos may be a stretch too far. Pure residential condos with fuller facilities could also be more appealing to families.

<<VVIP LAUNCH PRICING ONLY>>

Tanah Merah Kechil Link Info & Registration

Ikigai

A 16-unit boutique project that you may never even heard of.

On a personal level, being a fan of many things Japanese, the project name struck a chord.

Ikigai is a Japanese concept referring to something that gives a person a sense of purpose, a reason for living.

Address: 38 Shrewsbury Road, Singapore 307818, <10 mins walk (700m~) from Novena MRT Station.

In line with the government’s plan to transform Novena into Singapore’s largest healthcare complex, property prices around Novena have risen by almost 30% over the last 10 years.

Ikigai Breakeven Price

While it is not clear what Ikigai’s land price was and therefore its breakeven, we can estimate the potential launch price from two nearby new launches, Fyve Derbyshire and Neu@Novena.

However, while I could not find information on breakeven pricing, Ikigai has actually already launched.

Well… projects of this scale tend to be lower key in their launches.

Here are the starting prices released:

1 Bedroom + Study fr $1,383,000
2 Bedroom + Study Premium fr $2,613,000
2 Bedroom Premium fr $2,337,000
3 Bedroom + Study Penthouse fr $4,520,000
3 Bedroom Penthouse fr $3,536,000

1 Good about Ikigai: Branding. Marketed well, it could be very appealing to certain group of buyers.

1 Not so Good about Ikigai: Small Project syndrome. Can take many years to see price gains. Reference below 2 graphs. First, last 10 years, 2nd, last 15 years.

<<<<Brochures, Floor Plans and Pricing Released>>

Ang Mo Kio Avenue 1

The plum site near to Mayflower Secondary School and the upcoming Mayflower MRT station along the Thomson East Coast line is highly anticipated.

It would set new benchmark prices of close to S$2,000 psf and beyond and set the tone for future launches further north at Lentor.

A look at the newer condos nearby show that acceptable prices are already above S$1,500 psf for 99y LH (The Panorama), and S$1,800 psf and above for Freehold (Lattice One).

Ang Mo Kio Avenue 1 Breakeven Price

UOL Projects tend to be well received due to quality construction and sensible pricing.

My expectation is for average launch pricing to be a just above S$2,000 psf.

Cheaper units below $2k psf would be facing south-ward.

Towards the Northwest, there would be premium pricing due to unblocked views over the landed houses and across Lower Pierce Reservoir.

1 Good about Ang Mo Kio Ave 1:

There is a slew of upcoming land sales near Lentor MRT further north.

2, in dark blue already sold, with projects probably launching 2nd half of 2022, and 3 in Orange to be sold in May. At this AMK Ave 1 plot, you are the only launch near Mayflower MRT station.

Furthermore, 1km to Ai Tong Primary School, one of the most popular Primary Schools in Singapore.

1 Not so Good about Ang Mo Kio Ave 1: A product that ticks many boxes will not be cheap.

<<VVIP LAUNCH PRICING ONLY>>

Ang Mo Kio Ave 1 Info & Registration

Marina View

Surprisingly, this site had one of the most lackluster responses of recent land sales.

There was just one bid, only $101 above minimum price.

Above are the transactions over the last 24months of nearby projects.

Most transact within the S$2,000 – S$2,500 psf range, with the exception being Singapore’s tallest residential project, Wallich Residence.

Marina View Breakeven Price

What I’m seeing so far are a mixed bag.

Mostly bullish, some experts have estimated breakeven to be around $2,300 psf, with launch prices between $2,700 – $2,800 psf.

While others have estimated a $2,500 breakeven, with positioning of the residential units as luxury.

Targeting a 25% profit margin, sale prices can be around $3,100 – $3,200 psf (similar to Wallich Residences).

1 Good about Marina View: I don’t expect it to be a case of Land Cheap = Will Sell Cheap. Nevertheless, there is certainly opportunity given the weak sales (<30% to date) at nearby One Bernam.

Coupled with the continued uncertainty regarding the normalisation of office work and travel, developer has little reason to be bullish.

Launch may be the best time to enter. Thereafter, developer will probably plan to increase prices towards an expected 2028 TOP, where by then, hopefully life is back to normal.

1 Not so Good about Marina View: A Post Pandemic future where the CBD never regains its vibrancy.

<<VVIP LAUNCH PRICING ONLY>>

Marina View Info & Registration

BONUS 1H2022 New Launch Condo: The Hyde

Are you looking for something that’s brand new yet ready to move in?

The Hyde along Balmoral Road is a property that caught my attention.

With luxurious facilities, privacy, and unblocked views overlooking Goodwood Hill, it is a unique property that definitely deserves further consideration.

While it’s certainly not cheap, being in a prime district, the value it provides is tremendous.

Personally, I fell in love with the property and definitely would recommend you taking a closer look.

Check out the article I specially prepared: Why Should You Invest in The Hyde?