Singapore to see about 30 new residential project launches this year

These projects will yield over 12,000 homes.

According to an OrangeTee report, 2024 will see a lineup of new project launches coming on stream. About 30 new projects could be launch-ready, adding over 12,000 new homes, excluding EC. 

“Even if developers stagger their launches or face unforeseen circumstances, we still anticipate 23 launches, which could yield up to 8,800 units. Around 50.5 per cent of launched units will be in the suburbs OCR, 29.8 per cent in the city fringe RCR, and 19.7 per cent in the prime CCR,” the report said.

Some key property launches include the 440-unit SORA, 533-unit Lentor Mansion, 512-unit Lumina Grand EC, and the 345-unit GLS (Government Land Sales) site at Champions Way. 

Some price pressures may be alleviated since there will be more supply this year. “We predict prices of new private homes to climb slower, around 2 to 4 per cent this year. With more launches on the cards, new home sales may pick up slightly this year to around 6,500 to 7,500 units,” added OrangeTee.