{"id":51475,"date":"2022-05-18T18:08:16","date_gmt":"2022-05-18T10:08:16","guid":{"rendered":"https:\/\/www.99.co\/singapore\/insider\/?p=51475"},"modified":"2022-06-13T18:12:20","modified_gmt":"2022-06-13T10:12:20","slug":"why-some-new-launch-condos-sell-better-than-others","status":"publish","type":"post","link":"https:\/\/www.99.co\/singapore\/insider\/why-some-new-launch-condos-sell-better-than-others\/","title":{"rendered":"Why do some new launch condos sell better than others?"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div><p>Sometimes, we hear about <a href=\"https:\/\/www.99.co\/singapore\/new-launches\" target=\"_blank\" rel=\"noopener\">new launch condos<\/a> that don\u2019t perform well. There are times when we hear of <a href=\"https:\/\/www.99.co\/singapore\/insider\/unsold-units-new-launch-condo-absd-deadline\/\" target=\"_blank\" rel=\"noopener\">condos approaching their ABSD deadlines, but aren\u2019t sold out yet<\/a>.<\/p>\n<p>And then, there are those that make headlines for selling really well during the launch weekend.<\/p>\n<p>So today, we\u2019re looking at new launch condos that had a high take-up rate during the launch weekend in the past year.<\/p>\n<p>These are:<\/p>\n<ul>\n<li><a href=\"https:\/\/www.99.co\/singapore\/condos-apartments\/reviews\/jervois-mansion\" target=\"_blank\" rel=\"noopener\">Jervois Mansion<\/a> (<a href=\"https:\/\/www.straitstimes.com\/business\/property\/99-per-cent-of-units-launched-for-sale-at-jervois-mansion-in-district-10-snapped\" target=\"_blank\" rel=\"noopener\">99%<\/a>)<\/li>\n<li><a href=\"https:\/\/www.99.co\/singapore\/condos-apartments\/pasir-ris-8\" target=\"_blank\" rel=\"noopener\">Pasir Ris 8<\/a> (<a href=\"https:\/\/www.99.co\/singapore\/insider\/ocr-private-developments-pasir-ris-8-lentor-central-bid-heat-up-cross-island-and-thomson-east-coast-mrt-line\/\" target=\"_blank\" rel=\"noopener\">85%<\/a>)<\/li>\n<li><a href=\"https:\/\/www.99.co\/singapore\/condos-apartments\/reviews\/canninghill-piers\" target=\"_blank\" rel=\"noopener\">Canninghill Piers<\/a> (<a href=\"https:\/\/www.99.co\/singapore\/insider\/canninghill-piers-sold-77-of-units-during-launch-weekend\/\" target=\"_blank\" rel=\"noopener\">77%<\/a>)<\/li>\n<li><a href=\"https:\/\/www.99.co\/singapore\/condos-apartments\/reviews\/piccadilly-grand\" target=\"_blank\" rel=\"noopener\">Piccadilly Grand<\/a> (<a href=\"https:\/\/www.businesstimes.com.sg\/real-estate\/piccadilly-grand-sells-77-of-units-at-average-s2150-psf-on-launch-weekend\" target=\"_blank\" rel=\"noopener\">77%<\/a>)<\/li>\n<\/ul>\n<p>Here\u2019s the current take-up rate, according to <a href=\"https:\/\/www.ura.gov.sg\/realEstateIIWeb\/price\/search.action\" target=\"_blank\" rel=\"noopener\">URA\u2019s monthly developer sales<\/a> as of April 2022.<\/p>\n<table>\n<tbody>\n<tr>\n<td><b>Project name<\/b><\/td>\n<td><b>Total number of units launched for sale<\/b><\/td>\n<td><b>Number of unsold units<\/b><\/td>\n<td><b>Take-up rate\u00a0<\/b><\/td>\n<\/tr>\n<tr>\n<td>Jervois Mansion<\/td>\n<td>105<\/td>\n<td>1<\/td>\n<td>99%<\/td>\n<\/tr>\n<tr>\n<td>Pasir Ris 8<\/td>\n<td>487<\/td>\n<td>52<\/td>\n<td>89.3%<\/td>\n<\/tr>\n<tr>\n<td>Canninghill Piers<\/td>\n<td>696<\/td>\n<td>86<\/td>\n<td>87.6%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>*We didn&#8217;t include the figures for Piccadilly Grand since the project was just launched earlier this month.<\/p>\n<p>We also asked a few agents on the ground for insights on the high take-up rate. Based on their responses, in general, we can break down the reasons into these four factors:<\/p>\n<ul>\n<li>Connectivity to the MRT (and the mall)<\/li>\n<li>Lack of new launches in the area<\/li>\n<li>Attractive launch price<\/li>\n<li>Bonus: Personal touch<\/li>\n<\/ul>\n<h2><strong>Connectivity to the MRT and the mall<\/strong><\/h2>\n<p>Out of the four best-selling projects we\u2019ve listed, three of them are integrated developments with direct connectivity to the MRT.<\/p>\n<p><a href=\"https:\/\/www.99.co\/singapore\/condos-apartments\/canninghill-piers\" target=\"_blank\" rel=\"noopener\">Canninghill Piers<\/a> is connected to the <a href=\"https:\/\/www.99.co\/singapore\/mrt-stations\/fort-canning-mrt\" target=\"_blank\" rel=\"noopener\">Fort Canning MRT<\/a> on the Downtown Line, while <a href=\"https:\/\/www.99.co\/singapore\/condos-apartments\/piccadilly-grand\" target=\"_blank\" rel=\"noopener\">Piccadilly Grand<\/a> is connected to the <a href=\"https:\/\/www.99.co\/singapore\/insider\/north-east-line-nel-new-launch-condo\/\" target=\"_blank\" rel=\"noopener\">North-East Line<\/a> via <a href=\"https:\/\/www.99.co\/singapore\/mrt-stations\/farrer-park-mrt\" target=\"_blank\" rel=\"noopener\">Farrer Park MRT<\/a>.<\/p>\n<p>Not only is <a href=\"https:\/\/www.99.co\/singapore\/condos-apartments\/pasir-ris-8\" target=\"_blank\" rel=\"noopener\">Pasir Ris 8<\/a> connected to <a href=\"https:\/\/www.99.co\/singapore\/mrt-stations\/pasir-ris-mrt\" target=\"_blank\" rel=\"noopener\">Pasir Ris MRT<\/a>, but it has direct links to the bus interchange as well.<\/p>\n<p>On top of that, all three of them come with retail spaces.<\/p>\n<p>According to Rex Tan from Huttons, these factors have helped boost sales.<\/p>\n<p>\u201cThese developments have strong demand as residents fuel the demand for retail options. With that, we are looking forward to the next mixed-use development, which is <a href=\"https:\/\/www.99.co\/singapore\/condos-apartments\/sky-edenbedok\" target=\"_blank\" rel=\"noopener\">Sky Eden @ Bedok<\/a> by Frasers.\u201d<\/p>\n<p>Jasmine Lau from PropNex added that the direct access to the MRT for Piccadilly Grand makes it very easy to get to town. She elaborated that during the preview of the new launch project, she was also commuting through Farrer Park MRT to conduct viewings that were near MRT stations.<\/p>\n<figure id=\"attachment_51484\" aria-describedby=\"caption-attachment-51484\" style=\"width: 600px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2022\/05\/piccadilly-grand.jpg\" class=\"img-link media-img img-link media-img\"><img decoding=\"async\" class=\"wp-image-51484\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2022\/05\/piccadilly-grand.jpg\" alt=\"Piccadilly Grand\" width=\"600\" height=\"551\" srcset=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2022\/05\/piccadilly-grand.jpg 1701w, https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2022\/05\/piccadilly-grand-1536x1410.jpg 1536w, https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2022\/05\/piccadilly-grand-150x138.jpg 150w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><\/a><figcaption id=\"caption-attachment-51484\" class=\"wp-caption-text\">Artist&#8217;s impression of Piccadilly Grand.<\/figcaption><\/figure>\n<p>\u201cFarrer Park MRT is also much closer to Piccadilly Grand, than to <a href=\"https:\/\/www.99.co\/singapore\/condos-apartments\/city-square-residences\" target=\"_blank\" rel=\"noopener\">City Square Residences<\/a> and <a href=\"https:\/\/www.99.co\/singapore\/condos-apartments\/sturdee-residences\" target=\"_blank\" rel=\"noopener\">Sturdee Residences<\/a> which are the other two large condominiums in front of the same MRT.\u201d<\/p>\n<p>Nizam Gafoor from PropNex explained that given Pasir Ris 8\u2019s direct connectivity to the MRT and bus interchange, it\u2019s a game-changer in <a href=\"https:\/\/www.99.co\/singapore\/neighbourhoods\/pasir-ris\" target=\"_blank\" rel=\"noopener\">Pasir Ris<\/a> and District 18.<\/p>\n<p>\u201cBeyond that, they\u2019ve got a childcare centre and a polyclinic there.\u201d<\/p>\n<h2><strong>Lack of new launches in the area<\/strong><\/h2>\n<p>Another factor that these new launches have in common is the lack of competition in the area.<\/p>\n<p>According to Norman Koh from PropNex, one reason Canninghill Piers performed so well was because of the lack of competition for integrated developments in the area.<\/p>\n<figure id=\"attachment_45704\" aria-describedby=\"caption-attachment-45704\" style=\"width: 600px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2021\/11\/canninghill-piers.jpeg\" class=\"img-link media-img img-link media-img\"><img decoding=\"async\" class=\"wp-image-45704\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2021\/11\/canninghill-piers.jpeg\" alt=\"Canninghill Piers\" width=\"600\" height=\"338\"><\/a><figcaption id=\"caption-attachment-45704\" class=\"wp-caption-text\">Artist&#8217;s impression of Canninghill Piers.<\/figcaption><\/figure>\n<p>In fact, there aren\u2019t any new launches in District 6 apart from this project.<\/p>\n<p>This was also what Jasmine observed for Piccadilly Grand. It\u2019s been a while since a mid-sized condo was launched in the area. The nearby <a href=\"https:\/\/www.99.co\/singapore\/condos-apartments\/uptown-farrer\" target=\"_blank\" rel=\"noopener\">Uptown @ Farrer<\/a>, completed in 2021, only comprises 116 units, while Piccadilly Grand has 407 units.<\/p>\n<p>\u201cThere are very few units available in condos with full facilities, especially in sizes with more than 400 units. Each condo is pretty much more than 10 years old.<\/p>\n<p>\u201cThe TOP date (2026) is very attractive to many buyers because they will collect their keys when the supply of new condominiums is very little. So for investors, that&#8217;s a good thing.\u201d<\/p>\n<p>Likewise, apart from <a href=\"https:\/\/www.99.co\/singapore\/condos-apartments\/parc-komo\" target=\"_blank\" rel=\"noopener\">Parc Komo<\/a> (which is about an 18-minute walk to the upcoming Loyang MRT), there haven\u2019t been any new launches in Pasir Ris, making Pasir Ris 8 an attractive buy. Before Parc Komo, the last new launch was <a href=\"https:\/\/www.99.co\/singapore\/condos-apartments\/casa-al-mare\" target=\"_blank\" rel=\"noopener\">Casa Al Mare<\/a>, which was completed in 2021.<\/p>\n<figure id=\"attachment_46044\" aria-describedby=\"caption-attachment-46044\" style=\"width: 600px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2021\/11\/pasir-ris-8.jpeg\" class=\"img-link media-img img-link media-img\"><img decoding=\"async\" class=\"wp-image-46044\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2021\/11\/pasir-ris-8.jpeg\" alt=\"Pasir Ris 8\" width=\"600\" height=\"333\" srcset=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2021\/11\/pasir-ris-8.jpeg 1497w, https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2021\/11\/pasir-ris-8-270x149.jpeg 270w, https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2021\/11\/pasir-ris-8-150x83.jpeg 150w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><\/a><figcaption id=\"caption-attachment-46044\" class=\"wp-caption-text\">Artist&#8217;s impression of Pasir Ris 8.<\/figcaption><\/figure>\n<p>\u201cSo Pasir Ris 8 was highly anticipated; people were looking forward to it. And clearly the only obvious choice, either they go for a new launch or it has got to be a resale and resale units were already a few years older,\u201d explained Nizam.<\/p>\n<h2><strong>Attractive launch price<\/strong><\/h2>\n<p>Agents we talked to also shared that some of these projects were reasonably priced, particularly Pasir Ris 8 and Jervois Mansion.<\/p>\n<p>Nizam believed that the good take-up rate for Pasir Ris 8 ultimately boiled down to one reason: the super attractive launch price. Prices for units there had started at S$1,400 psf.<\/p>\n<p>Looking at our Researcher data, in the two months before the launch in July 2021, the average price psf for new sale condos in Pasir Ris has been hovering around S$1,300 to S$1,400.<\/p>\n<p><a href=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2022\/05\/price-trend-new-launch-condo-pasir-ris.png\" class=\"img-link media-img img-link media-img\"><img decoding=\"async\" class=\"alignnone wp-image-51483\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2022\/05\/price-trend-new-launch-condo-pasir-ris.png\" alt=\"Price trend of new launch condos in Pasir Ris\" width=\"600\" height=\"615\" srcset=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2022\/05\/price-trend-new-launch-condo-pasir-ris.png 780w, https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2022\/05\/price-trend-new-launch-condo-pasir-ris-150x154.png 150w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<p>Since then, the average price psf for these new sale condos has been hovering around S$1,650. According to URA\u2019s monthly developer sales data for April 2022, the median price psf for Pasir Ris 8 based on three transactions in the month was S$1,618.<\/p>\n<p>\u201cIf you look at it even today, I would say there are many units that are very attractively priced,\u201d said Nizam.<\/p>\n<p>Rex also highlighted the very attractive price of <a href=\"https:\/\/www.99.co\/singapore\/condos-apartments\/jervois-mansion\" target=\"_blank\" rel=\"noopener\">Jervois Mansion<\/a> during the preview.<\/p>\n<p>\u201cAt that time, the prices were more affordable compared to those of the nearby resale and new launches.\u201d<\/p>\n<p>Prices started at around S$2,200 psf. On the other hand, the average price of new sale condos in <a href=\"https:\/\/www.99.co\/singapore\/neighbourhoods\/tanglin\" target=\"_blank\" rel=\"noopener\">Tanglin<\/a> has been hovering around S$2,700 to S$2,900 a few months before Jervois Mansion\u2019s preview and launch in October 2021.<\/p>\n<p><a href=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2022\/05\/price-trend-new-launch-condo-tanglin.png\" class=\"img-link media-img img-link media-img\"><img decoding=\"async\" class=\"alignnone wp-image-51482\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2022\/05\/price-trend-new-launch-condo-tanglin.png\" alt=\"Price trend of new launch condos in Tanglin\" width=\"600\" height=\"615\" srcset=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2022\/05\/price-trend-new-launch-condo-tanglin.png 780w, https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2022\/05\/price-trend-new-launch-condo-tanglin-150x154.png 150w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<p>He added, \u201cA 3-bedroom unit in Jervois Mansion, a freehold, was priced much lower than <a href=\"https:\/\/www.99.co\/singapore\/condos-apartments\/mon-jervois\" target=\"_blank\" rel=\"noopener\">Mon Jervois<\/a>, a 99-year leasehold, during the preview.\u201d<\/p>\n<p>Between May and September 2021, the average price of a 3-bedroom at Mon Jervois was S$3.65 million. In comparison, the average price of a 3-bedroom unit at Jervois Mansion was S$2.28 million during the launch month.<\/p>\n<h2>Bonus: Personal touch<\/h2>\n<p>What&#8217;s interesting to note is that out of these four projects, one of them is from a small developer.<\/p>\n<p>When it comes to new launches, buyers are usually more attracted to well-known developers to minimise risk. Bigger developers also tend to have more resources and a bigger marketing budget.<\/p>\n<p>So it\u2019s noteworthy that Jervois Mansion, coming from a small developer (Kimen Realty), raked in a take-up rate of 99% during the launch weekend.<\/p>\n<figure id=\"attachment_51485\" aria-describedby=\"caption-attachment-51485\" style=\"width: 600px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2022\/05\/jervois-mansion.jpg\" class=\"img-link media-img img-link media-img\"><img decoding=\"async\" class=\"wp-image-51485\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2022\/05\/jervois-mansion.jpg\" alt=\"Artist's impression of Jervois Mansion\" width=\"600\" height=\"285\" srcset=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2022\/05\/jervois-mansion.jpg 1353w, https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2022\/05\/jervois-mansion-150x71.jpg 150w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><\/a><figcaption id=\"caption-attachment-51485\" class=\"wp-caption-text\">Artist&#8217;s impression of Jervois Mansion.<\/figcaption><\/figure>\n<p>Norman explained that this was down to the unique personal touch of the developer.<\/p>\n<p>\u201cThey\u2019ve come up with a modern design, yet retaining the success of the existing development. The practical layout, coupled with lush greenery, helps create a homely feel.\u201d<\/p>\n<p>(Writer\u2019s note: the project was a redevelopment of Jervois Mansions.)<\/p>\n<p>On top of that, he shared that there was a strong focus on Jervois Mansion sitting on a rare and large freehold plot.<\/p>\n<p>\u201cTo sum up, I believe what drew people in was how well thought out the concept was.\u201d<\/p>\n<h2><strong>What do you think are the reasons for the high take-up rate for these new launch condos? Let us know in the comments section below or on our Facebook <a href=\"https:\/\/www.facebook.com\/99dotco\/posts\/2283382098481925\" target=\"_blank\" rel=\"noopener\">post<\/a>.<\/strong><\/h2>\n<p>If you found this article helpful, 99.co recommends <a href=\"https:\/\/www.99.co\/singapore\/insider\/lentor-sites-tender-1h2022-gls-land-sale\/\" target=\"_blank\" rel=\"noopener\">Lentor Central, Lentor Gardens and Lentor Hills Road (Parcel B) released in 1H2022 GLS land sale<\/a> and <a href=\"https:\/\/www.99.co\/singapore\/insider\/new-shaw-tower-started-construction-top-2025\/\" target=\"_blank\" rel=\"noopener\">The new Shaw Tower has started construction, set to TOP in 2025.<\/a><\/p>\n<p>Looking for a property? Find the home of your dreams today on Singapore\u2019s fastest-growing <a href=\"https:\/\/www.99.co\/?utm_source=blog%20main%20site%20conversion\" target=\"_blank\" rel=\"noopener\">property portal 99.co<\/a>! If you would like to estimate the potential value of your property, check out <a href=\"https:\/\/www.99.co\/singapore\/property-value-tool\" target=\"_blank\" rel=\"noopener\">99.co\u2019s Property Value Tool<\/a> for free. Also, don\u2019t forget to join our Facebook <a href=\"https:\/\/www.facebook.com\/groups\/yourpropertycommunity\" target=\"_blank\" rel=\"noopener\">community page<\/a> or Telegram <a href=\"https:\/\/go.99.co\/telegram-blog\" target=\"_blank\" rel=\"noopener\">chat group<\/a>! Meanwhile, if you have an interesting property-related story to share with us, drop us a message <a href=\"mailto:marketing@99.co\" target=\"_blank\" rel=\"noopener\">here<\/a> \u2014 and we\u2019ll review it and get back to you.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sometimes, we hear about new launch condos that don\u2019t perform well. There are times when we hear of condos approaching their ABSD deadlines, but aren\u2019t sold out yet. And then, there are those that make headlines for selling really well during the launch weekend. So today, we\u2019re looking at new launch condos that had a&hellip;<\/p>\n","protected":false},"author":111,"featured_media":51486,"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":[56535,56855,53740,55328,57016,53680],"persona":[],"class_list":{"2":"type-post","16":"entry","17":"has-post-thumbnail"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.7.1 (Yoast SEO v25.7) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Why do some new launch condos sell better than others? - 99.co<\/title>\n<meta name=\"description\" content=\"Sometimes, we hear about new launch condos that don&#039;t sell well. And then, there are those that sell really well during the launch weekend.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.99.co\/singapore\/insider\/why-some-new-launch-condos-sell-better-than-others\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why do some new launch condos sell better than others?\" \/>\n<meta property=\"og:description\" content=\"Sometimes, we hear about new launch condos that don&#039;t sell well. 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