Houses take a long time to build. Developers go through a long product cycle. Houses do not just pop up from the ground like wild mushrooms. Developers have to gain the land, decide how to build the property, and get approvals from the respective authorities. This has to be done before they can market and sell their units. This process leads to the public never really understanding when the new condo launch date really is.
Picture this: you spend months researching about a particular area you are interested in and go house hunting in your target area. You find nothing you like and end up settling for a place that was not high on your list. Shortly after purchasing the unit, you find out that a property near your target area was launched right where you want to stay and you are left wondering if you made the right decision.
Most consumers find out about new developments through advertisements. But did you know you could go directly to the source? There are places where you can find out about the sale of lands to developers. This is because developers typically gain land through government land sales, and other channels like en bloc sales.
Most people that are interested in real estate typically get their information on government land sale tender results from their Facebook feed and news sites. People share and make comments about it, but it often fades away from memory and people forget about that piece of land and the upcoming development.
New condo launch date: Finding out the details
The tender award date is the most important sign of when the development is expected to be launched. As land sales typically involve large amounts of public money, the government has made huge steps in making data transparent. There are 2 government agencies in charge of releasing state land to private developers, URA, and HDB. One cannot get the complete picture of the new condo launch date without looking at the results of both agencies. They publish the history of sites awarded with all the important pieces of information.
Tender award and new condo launch date
Once the tender is awarded, the developer is considered having bought the land and their ABSD clock ticks. They have 5 years to complete the construction and sell all of their units to avoid paying the hefty 15% tax. This policy prevents the developer from hoarding the land and start planning for construction and sales. This also means we can predict the expected sales launch date with much more certainty.
Example:
| Authority | Award Date | Launch date | Time to launch | Development |
| HDB | 23-June-15 | May 2016 | 11 months | Gem Residences |
| URA | 31-March-15 | April 2016 | 13 months | Sturdee Residences |
| URA | 12-March-15 | July 2016 | 16 months | Lake Grande |
The new condo launch is typically within 11 to 16 months from award based on recent observations. Most of this time is spent getting approvals from the respective authorities involved.
Land sold recently that are yet to be/have been launched
| Award Date | Location | Name | Time since award |
| 01-July-16 | Martin Place | – | 2 |
| 30-May-16 | Bukit Batok West Avenue 6 | – | 3 |
| 19-May-16 | Shunfu Ville (En Bloc) | – | 3 |
| 13-April-16 | Jalan Kandis | – | 4 |
| 26-February-16 | New Upper Changi Road / Bedok South Avenue 3 (Parcel B) |
Grandeur Park Residences | 6 |
| 18-January-16 | Siglap Road | Seaside Residences | 7 |
| 11-December-15 | Clementi Avenue 1 | Clement Canopy | 8 |
| 17-November-15 | Alexandra View | Artra | 9 |
| 11-November-15 | Lorong Lew Lian | Forest Woods | 9 |
| 13-August-15 | West Coast Vale | Parc Riviera | 12 |
| 30-June-15 | Dundee Road | Queens Peak | 13 |
| 04-May-15 | Tampines Avenue 10 (Parcel D) | Alps Residences | 16 |
From the list above, there are some projects which are overdue for launch. We should expect the new condo launch date in the market soon for most of them. If you are interested in any area, it pays to take note of the land sales schedule and be ready when the developer launches their units for sale.
About Kian Khai
Looking to sell your property?
Whether your HDB apartment is reaching the end of its Minimum Occupation Period (MOP) or your condo has crossed its Seller Stamp Duty (SSD) window, it is always good to know how much you can potentially gain if you were to list and sell your property. Not only that, you’ll also need to know whether your gains would allow you to right-size to the dream home in the neighbourhood you and your family have been eyeing.
One easy way is to send us a request for a credible and trusted property consultant to reach out to you.
Alternatively, you can jump onto 99.co’s Property Value Tool to get an estimate for free.
If you’re looking for your dream home, be it as a first-time or seasoned homebuyer or seller – say, to upgrade or right-size – you will find it on Singapore’s fastest-growing property portal 99.co.
Meanwhile, if you have an interesting property-related story to share with us, drop us a message here — and we’ll review it and get back to you.
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