{"id":46212,"date":"2021-12-02T15:22:53","date_gmt":"2021-12-02T07:22:53","guid":{"rendered":"https:\/\/www.99.co\/singapore\/insider\/?p=46212"},"modified":"2022-06-13T17:35:18","modified_gmt":"2022-06-13T09:35:18","slug":"recap-new-launch-condo-2021","status":"publish","type":"post","link":"https:\/\/www.99.co\/singapore\/insider\/recap-new-launch-condo-2021\/","title":{"rendered":"A recap + full list of new launch condos in 2021\u00a0"},"content":{"rendered":"
<\/div>

2021 has been an interesting year. Mask-wearing, SafeEntry and the changes in phases (we\u2019ve lost count of how many times we\u2019ve entered a new phase) remind us the pandemic hasn\u2019t ended yet.<\/p>\n

At the same time, looking at the robust property market this year, it doesn\u2019t feel like we\u2019re in a pandemic anymore. Given the positive economic outlook, we\u2019ve seen several condo projects slated for last year being launched this year. Some of these new launch condo projects have even made headlines and chalked up record deals.<\/p>\n

With the year ending soon, we thought it\u2019s apt to look back and recap on the new condo projects launched in 2021, including those launching this month.<\/p>\n

The full list of 2021 new launch condo<\/b><\/h2>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Project name<\/b><\/td>\nDistrict<\/b><\/td>\nRegion<\/b><\/td>\nType of sale<\/b><\/td>\nTenure<\/b><\/td>\nDeveloper<\/b><\/td>\n<\/tr>\n
Amber Sea<\/a><\/td>\n15<\/td>\nRCR<\/td>\nEn bloc (former Amber Glades)<\/td>\nFreehold<\/td>\nUrban Park (Far East Organization)<\/td>\n<\/tr>\n
Bartley Vue<\/a><\/td>\n19<\/td>\nOCR<\/td>\nGLS<\/td>\n99-year<\/td>\nWee Hur (Bartley)<\/td>\n<\/tr>\n
Cairnhill 16<\/a><\/td>\n9<\/td>\nCCR<\/td>\nEn bloc (former Cairnhill Heights)<\/td>\nFreehold<\/td>\nTSky Cairnhill<\/td>\n<\/tr>\n
CanningHill Piers<\/a><\/td>\n6<\/td>\nCCR<\/td>\nEn bloc (former Liang Court)<\/td>\n99-year<\/td>\nLegend Quay (CDL\/ CapitaLand)<\/td>\n<\/tr>\n
Grange 1866<\/a><\/td>\n10<\/td>\nCCR<\/td>\nEn bloc (former iLiv@Grange)<\/td>\nFreehold<\/td>\nGrange 1866<\/td>\n<\/tr>\n
Irwell HIll Residences<\/a><\/td>\n9<\/td>\nCCR<\/td>\nGLS<\/td>\n99-year<\/td>\nCDL Perseus<\/td>\n<\/tr>\n
J@63<\/a><\/td>\n15<\/td>\nRCR<\/td>\n–<\/td>\nFreehold<\/td>\nDistinct Home (TKJ)<\/td>\n<\/tr>\n
Jervois Mansion<\/a><\/td>\n10<\/td>\nCCR<\/td>\nRedevelopment (former Jervois Mansions)<\/td>\nFreehold<\/td>\nKimen Realty<\/td>\n<\/tr>\n
Klimt Cairnhill<\/a><\/td>\n9<\/td>\nCCR<\/td>\nEn bloc (former Cairnhill Mansions)<\/td>\nFreehold<\/td>\nGlopeak Development (Low Keng Huat Singapore Limited)<\/td>\n<\/tr>\n
Les Maisons Nassim<\/a><\/td>\n10<\/td>\nCCR<\/td>\nRedevelopment of former bungalow<\/td>\nFreehold<\/td>\nShun Tak Residential Development<\/td>\n<\/tr>\n
Liv @ MB<\/a><\/td>\n15<\/td>\nRCR<\/td>\nEn bloc (former Katong Park Towers)<\/td>\n99-year<\/td>\nBSEL Development (Bukit Sembawang Estates Limited)<\/td>\n<\/tr>\n
M Suites<\/a><\/td>\n14<\/td>\nRCR<\/td>\nEn bloc (former semi-detached houses)<\/td>\nFreehold<\/td>\nFG Resource<\/td>\n<\/tr>\n
Mattar Residences<\/a><\/td>\n14<\/td>\nRCR<\/td>\n–<\/td>\n99-year<\/td>\nL.K. Ang Construction (Hock Lian Seng Holdings\/ Keong Hong Holdings\/ TA Corporation)<\/td>\n<\/tr>\n
Midtown Modern<\/a><\/td>\n7<\/td>\nCCR<\/td>\nGLS<\/td>\n99-year<\/td>\nGuoco Midtown II \/Midtown Modern<\/td>\n<\/tr>\n
Mori<\/a><\/td>\n14<\/td>\nRCR<\/td>\nEn bloc (formerly terrace houses)<\/td>\nFreehold<\/td>\nRL East (Roxy-Pacific Holdings)<\/td>\n<\/tr>\n
Normanton Park<\/a><\/td>\n5<\/td>\nRCR<\/td>\nEn bloc (former Normanton Park)<\/td>\n99-year<\/td>\nKingsford Huray Development<\/td>\n<\/tr>\n
One Bernam<\/a><\/td>\n2<\/td>\nCCR<\/td>\nGLS<\/td>\n99-year<\/td>\nHY-MCC (Bernam)<\/td>\n<\/tr>\n
One-North Eden<\/a><\/td>\n5<\/td>\nRCR<\/td>\nGLS<\/td>\n99-year<\/td>\nOne North Development<\/td>\n<\/tr>\n
Parc Central Residences EC<\/a><\/td>\n18<\/td>\nOCR<\/td>\nGLS<\/td>\n99-year<\/td>\nHoi Hup Realty and Sunway Developments<\/td>\n<\/tr>\n
Parc Greenwich EC<\/a><\/td>\n28<\/td>\nOCR<\/td>\nGLS<\/td>\n99-year<\/td>\nFernvale Lane (Frasers Property)<\/td>\n<\/tr>\n
Park Nova<\/a><\/td>\n10<\/td>\nCCR<\/td>\nEn bloc (former Park House)<\/td>\nFreehold<\/td>\nShun Tak Cuscaden Residential<\/td>\n<\/tr>\n
Pasir Ris 8<\/a><\/td>\n18<\/td>\nOCR<\/td>\nGLS<\/td>\n99-year<\/td>\nPhoenix Residential \/ Phoenix Commercial (Allgreen Properties \/ Kerry Properties)<\/td>\n<\/tr>\n
Peak Residence<\/a><\/td>\n11<\/td>\nCCR<\/td>\nEn bloc (former Peak Court)<\/td>\nFreehold<\/td>\nTuan Sing Holdings and Rich Capital Holdings<\/td>\n<\/tr>\n
Perfect Ten<\/a><\/td>\n10<\/td>\nCCR<\/td>\nEn bloc (former City Towers)<\/td>\nFreehold<\/td>\nJapura Development (Cheung Kong Property Development)<\/td>\n<\/tr>\n
Provence Residence EC<\/a><\/td>\n27<\/td>\nOCR<\/td>\nGLS<\/td>\n99-year<\/td>\nMCC Land (Canberra)<\/td>\n<\/tr>\n
Rymden 77<\/a><\/td>\n15<\/td>\nRCR<\/td>\nEn bloc (former bungalows)<\/td>\nFreehold<\/td>\nQHS Development<\/td>\n<\/tr>\n
The Atelier<\/a><\/td>\n9<\/td>\nCCR<\/td>\nEn bloc (former Makeway View)<\/td>\nFreehold<\/td>\nBukit Sembawang Estates<\/td>\n<\/tr>\n
The Commodore<\/a><\/td>\n27<\/td>\nOCR<\/td>\nGLS<\/td>\n99-year<\/td>\nJBE (Canberra)<\/td>\n<\/tr>\n
The Reef At King\u2019s Dock<\/a><\/td>\n4<\/td>\nCCR<\/td>\nRedevelopment of former shipyard of Keppel Shipyard<\/td>\n99-year<\/td>\nHarbourfront Three<\/td>\n<\/tr>\n
The Watergardens At Canberra<\/a><\/td>\n25<\/td>\nOCR<\/td>\nGLS<\/td>\n99-year<\/td>\nUnited Venture Development (2020) (UOL\/ UIC\/ Kheng Leong Company)<\/td>\n<\/tr>\n
Zyanya<\/a><\/td>\n14<\/td>\nRCR<\/td>\nEn bloc (former Advance Apartment)<\/td>\nFreehold<\/td>\nNNB 8 Development<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

A breakdown of the 2021 new launch condos\u00a0<\/b><\/h2>\n

\"New<\/a><\/p>\n

 <\/p>\n

A number of them were previously slated for launch last year (and featured in our 2020 new launch condo list<\/a>). But their launches were pushed back to this year due to the pandemic. This includes Midtown Modern<\/a>, Klimt Cairnhill<\/a> and Perfect Ten<\/a>.<\/p>\n

Around half of the new launch condo projects (15) are from en bloc sales<\/a>, with 10 from the 2017 – 2018 en bloc fever. The remaining projects are mostly from the government land sales (GLS) programme (11).<\/p>\n

Tenure wise, slightly more than half come with a 99-year tenure.<\/p>\n

Similar to 2020, we\u2019re also seeing mainly small to medium projects being launched this year. The only large project launched in 2021 is Normanton Park<\/a>, which had its developer hit with a no-sale license back in January 2019<\/a>.<\/p>\n

Another notable aspect we noticed this year is the number of integrated developments<\/a> launched. This is despite the fact that work-from-home and online shopping are not going away as we move towards post-pandemic recovery.<\/p>\n

On the other hand, there\u2019s some anticipation that people will eventually return to the office. And things are looking optimistic for the physical retail front, and people are heading back to the malls<\/a>.<\/p>\n

Keen interest in 2021 new launch condos\u00a0<\/b><\/h2>\n

Despite construction delays<\/a> due to manpower and supply shortages, we\u2019ve seen high demand for these new launch condos for the past year. This is likely due to the recovering economy and low interest rates. More are also buying now as they expect prices to increase in future, especially as the supply of new condo units is declining.<\/p>\n

In fact, we\u2019ve seen strong sales since the start of the year. For instance, Normanton Park<\/a>, the first launch of the year back in January, saw around one-third of its units sold on the first day of sales<\/a>.\u00a0Another strong launch was for One-North Eden<\/a>, which sold 85% of its units over the launch weekend<\/a>.<\/p>\n

One noteworthy project in the CCR is Jervois Mansion<\/a>. The developer had sold 104 out of the 105 units put up for sale<\/a> during the launch weekend in October.<\/p>\n

\"Jervois<\/a>
Artist’s impression of Jervois Mansion.<\/figcaption><\/figure>\n

There\u2019s also CanningHill Piers<\/a>, which became the best selling launch in the Central area this year after selling 77% of its units during the launch weekend<\/a> in November.<\/p>\n

Over in the OCR, there\u2019s the launch of Pasir Ris 8<\/a> back in July. Despite six rounds of price reviews, it saw 85% of its units sold over the launch weekend<\/a>.<\/p>\n

Given the robust sales for these new launches in 2021, it\u2019s no surprise that the number of units sold in the first 10 months of this year has exceeded<\/a> the number sold in the entire year of 2018, 2019 and 2020. So it\u2019s expected that we\u2019ll see an eight-year high of around 12,000 to 13,000 new units sold.<\/p>\n

Record-breaking deals\u00a0<\/b><\/h3>\n

On top of robust sales across all three market segments, we\u2019ve also seen a few record-breaking deals.<\/p>\n

For instance, back in May, a Park Nova<\/a> penthouse set a record<\/a> for the highest price psf in the Orchard Boulevard area when it was sold for S$5,838 psf.<\/p>\n

Around six months later, we saw a Les Maisons Nassim<\/a> penthouse sold for S$75m or S$6,210 psf, making it possibly the most expensive penthouse sold<\/a> in recent years.<\/p>\n

\"Artist's<\/a>
Artist’s impression of the pool at Les Maisons Nassim.<\/figcaption><\/figure>\n

Notably, both projects are developed by Shun Tak Holdings, founded by the late casino tycoon Stanley Ho<\/a>.<\/p>\n

What we expect to see for 2022 new launch condos<\/b><\/h2>\n

Barring any cooling measures, we expect prices to continue increasing at a healthy pace as supply declines. As of Q3 2021, 17,410 new condo units remain unsold<\/a>. Additionally, most of the 2017 – 2018 en bloc cycle projects have already been launched in these two years. So there will be fewer new launches in 2022.<\/p>\n

(Check out the list of new launch condos potentially launching in 2022<\/a> here!)<\/p>\n

Another factor driving up prices is the higher land cost. Due to developers’ dwindling land bank, we\u2019ve seen stronger demand for land bids, as shown by the prices paid for the GLS plots this year. For instance, the Lentor Central<\/a> site was sold for S$784.1 million, translating to S$1,204 psf per plot ratio. Expected to be launched next year, the units could potentially be sold for around $2,000 psf.<\/p>\n

The increasing construction costs from the manpower crunch and supply chain disruptions will continue to raise prices as well.<\/p>\n

At the same time, we don\u2019t think there will be any cooling measures anytime soon.<\/p>\n

In general, prices have been growing at a pretty healthy rate. According to URA, the price index of non-landed private properties was 157.1 in Q1, before increasing to 159.9 in Q3. This translates to a percentage change of 1.8%.<\/p>\n

Likewise, interest rates have started increasing. Coupled with current measures that prevent overleveraging, such as the 75% loan-to-value ratio<\/a>, 60% Total Debt Servicing Ratio (TDSR)<\/a> and stamp duties<\/a>, demand will probably be at a healthy level.<\/p>\n

Still, if you\u2019re looking to buy a new launch condo in 2022, it pays to be prepared, in case of any cooling measure announcement<\/a>.<\/p>\n

Which of these 2021 new launch condos are you most interested in? Let us know in the comments section below or on our Facebook post.\u00a0<\/b><\/h2>\n

If you found this article helpful, 99.co recommends 6 new launch condos with discount potential<\/a> and New launch condo projects potentially launching in 2022.\u00a0<\/a><\/p>\n

Looking for a property? Find the home of your dreams today on Singapore\u2019s fastest-growing property portal 99.co<\/a>! If you would like to estimate the potential value of your property, check out 99.co’s Property Value Tool<\/a> for free. Meanwhile, if you have an interesting property-related story to share with us, drop us a message here<\/a> \u2014 and we\u2019ll review it and get back to you.<\/p>\n","protected":false},"excerpt":{"rendered":"

2021 has been an interesting year. Mask-wearing, SafeEntry and the changes in phases (we\u2019ve lost count of how many times we\u2019ve entered a new phase) remind us the pandemic hasn\u2019t ended yet. At the same time, looking at the robust property market this year, it doesn\u2019t feel like we\u2019re in a pandemic anymore. Given the…<\/p>\n","protected":false},"author":111,"featured_media":46281,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","_lmt_disableupdate":"no","_lmt_disable":"","_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[53601,53738,57131],"tags":[54952,55886,55118,55206,55119,54911,55888,56708,54126,56818,56886,54925,56538,55742,55891,53740],"persona":[],"class_list":{"2":"type-post","26":"entry","27":"has-post-thumbnail"},"acf":[],"yoast_head":"\nA recap + full list of new launch condos in 2021\u00a0 - 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