Private home launches to watch out for in Singapore next year
There will only be around 30 project launches in 2022.
There were over 50 projects launched in Singapore in 2019, but this is expected to dop to 30 projects or less by 2022.
According to OrangeTee, close to 9,000 units including executive condominiums (EC) may be released into the market, and this is approximately 17 to 20% lower than the number of private homes launched annually in 2019 and 2020.
Here’s more from OrangeTee:
There will be a few notable project launches in 2022. AXA Tower, opposite the Tanjong Pagar MRT station in Shenton Way along Cecil Street, will be redeveloped into a new mixed development comprising residential units and office space. This is a joint-venture between Alibaba Singapore and a consortium led by Perennial Real Estate Holdings.
New projects at the former Maxwell House jointly developed by Chip Eng Seng Corp, SingHaiyi Investments and Chuan Investments and the Marina View white site by a wholly-owned subsidiary of Malaysian property developer IOI Properties Group, could be launched within the same precinct in H2 2022.
These launches could garner market interest as Downtown Core has been gaining traction as a new hotbed for luxury homes in recent years. The area is set to benefit further when it is rejuvenated alongside the planned development for the Greater Southern Waterfront.
A sprawling hilltop site at the former Caldecott Broadcast Centre in Andrew Road jointly owned by Perennial Real Estate Holdings and its chairman, Mr Kuok Khoon Hong, could also be launched. It was cited in some news reports that the 752,015 sqft site could be redeveloped into 67 two-storey bungalows with a land area of 800 sqm each.
An upcoming EC project in Tampines Street 62 by Qingjian Realty and Santarli Construction and two leasehold sites - a private residential development with commercial space at Lentor Central by GuocoLand and a private housing site at Ang Mo Kio Avenue 1 opposite the Bishan-Ang Mo Kio Park by a joint venture between UOL Group, Singapore Land Group and Kheng Leong Company – may be keenly watched as these projects could set new price levels in those areas based on their record land prices and attractive locations.
Other residential projects that may draw buyers’ interest include Liv @ MB at Arthur Road in District 15 and the Pollen Collection, which is the third phase of strata landed houses to be launched at Nim Road. New condominiums at Northumberland Road bought by City Developments (CDL) and joint venture partner MCL Land, and Tanah Merah Kechil Link bought by MCC Land (Singapore) may be launched too.