Singapore six major real estate projects will launch simultaneously in November!

On the first day of this month, the Singapore real estate market has set off a wave of heat! Six major real estate projects will be launched collectively this month, with a total of about 3,500 new units about to enter the market.

These projects include:

● 916 units of Kingsford - Chuan Park

● 366 units of City Developments Limited - Union Square

● 367 units of SingHaiyi and its joint venture partners - The Collective at One Sophia

● 846 units of Sim Lian Group - Emerald of Katong

● 552 units of MCL Land and Sinarmas Land - Nava Grove

● 504 units of Hoi Hup and Sunway Developments - Novo Place

Emerald Katong Project

The strongest ever! Singapore's massive new projects are launched!

Mr. Deng, head of Housebell, Singapore's first bilingual real estate platform, said: "In Singapore, there has never been more than three projects launched at the same time before, let alone six projects on the same weekend."
It was July 5, 2018, and buyers snapped up more than 1,000 units in within  five hours, mainly because of the new stamp duty policy that was about to be implemented at midnight. The hot sales that night were concentrated in three projects: Park Colonial with 805 units, Riverfront Residences with 1,472 units, and Stirling Residences with 1,259 units.

However, the situation this time is very different from 2018. At that time, developers were forced to launch projects, but now they are rushing to launch projects before the preview on 1st and 2nd of November.

Why are new real estate projects entering the market in batches?

Many developers have recently accelerated the pace of project launches, Ismail Gafoor, CEO of PropNex, said: “Since this is the last weekend before the school holidays, up to 20% of Singaporeans may go out for travel after 16th November . Launching now allows developers to capture market share before year-end, which may be another reason for the concentrated launches during this period.”

However, this is undoubtedly good news for buyers - more choices and more room for bargaining!

1. CHUAN PARK

Chuan Park's sales showroom was opened on 31st October and will  remain open until 12th November. Sales are scheduled to begin on 16th November . Chuan Park is a redevelopment of the previous apartment of the same name. This new apartment is close to Lorong Chuan MRT station and there have been no new projects launched in its vicinity for 14 years.

The new apartment is located in District 19, Outer Central Region (OCR), opposite NTP+ (a shopping mall in the new technology park), and nearby shopping malls such as AMK Hub, The Heartland Mall, Hougang Mall and My Village. The area is also home to several schools, such as CHIJ Our Lady of Good Counsel, Nanyang Junior College, St. Gabriel's Primary School and St. Gabriel's Secondary School,as well as Australian International School and Stamford American Early Childhood Education Village Singapore nearby.

2. EMERALD OF KATONG

The project  opened on 1st  November for 846 units, and sales set to begin on 16th November. This 99-year leasehold condominium is located at Jalan Tembusu, near Tanjong Katong Road, and is just a five-minute walk to Tanjong Katong MRT Station (on the Thomson East Coast Line).

The new condominium is located in a prime location in District 15. The units range from one-bedroom to five-bedroom, with sizes ranging from 484 sqft to 1,561 sqft. The launch aligns  with the new floor area coordination policy, which excludes the air-conditioner ledge from the condo’s floor area, allowing for better use of space and increased efficiency.

The condominium is located at Jalan Tembusu (Plot B),  was purchased by Sim Lian Properties for S$828.8 million in July last year, at a price of S$1,069 per square foot (psf).

Opposite the apartment is Tembusu Grand, a 638-unit project launched by City Developments and MCL Land in April last year. So far, 521 units have been sold, with a sales rate of 82% and an average selling price of S$2,459 per square foot.

3. The Collective at One Sophia

The Collective at One Sophia, jointly developed by SingHaiyi and its joint venture partners,  opened for preview today. It is a project with 367 residential units and is also part of this integrated development. There are also 122 strata-titled office units and 127 retail stores. This project aims to offer residents with a convenient living environment while energizing the local commercial scene.

The project is a redevelopment of the former 99-year leasehold Peace Centre and Peace Mansion. SingHaiyi and their joint venture partners jointly acquired  the site for S$650 million in December 2021.

The project is located in District 9, in the Core Central Region (CCR) of Singapore, with a very advantageous location. The 99-year leasehold units include studios and one to three-bedroom options.

Prices are as follows:

●  Studios start at S$1.14 million (S$2,650 per square foot).
●  One-bedroom units start at S$1.346 million (S$2,782 per square foot).
●  Two-bedroom units start at S$1.709 million (S$2,561 per square foot).
●  Three-bedroom units start at S$2.845 million (S$2,782 per square foot).

The private presale  begins on 6th November and will continue until the end of this month, and the official launch will be in January 2025.

4.UNION SQUARE RESIDENCES

This project also opened on 1st November,with the sales reservation originally scheduled for 16th November  was also brought forward to 9th November.

Union Square Residences is a 40-storey building with 366 apartments and commercial units on the first and second floors. This project is a large-scale integrated development that includes office space, retail and dining areas, as well as a shared living component and a hotel license. It is a redevelopment of the previous Central Mall and Central Square.

Located in the core area of District 1, the project has a 99-year leasehold and offers a range of residential options:

●  One-bedroom units starting at 463 sqft
●  Two-bedroom units starting at 700 sqft
●  Three-bedroom units starting at 990 sqft
●  Four-bedroom deluxe units with an area of 1,518 sqft

5. Novo Place

Novo Place is an executive condominium (EC) located on Bukit Batok Road, which opend on 2nd November. During this preview weekend, potential buyers can also submit electronic applications. The application window will close on 12th November, with sales bookings beginning on 16th November.

The 504-unit condo project is jointly developed by Hoi Hup Realty and Sunway Developments, is located in the central Plantation district, a short walk from the future Tengah Park MRT station on the Jurong Region Line, which is expected to be completed in 2028.

Prices start at

●  $1.298 million for a three-bedroom unit (872 sqft), translating to approximately $1,489 per sqft.
●  A three-bedroom plus study unit (883 sqft) starts from $1.348 million (around $1,527 per sqft).
●  A slightly larger three-bedroom plus study (947 sqft) is priced from $1.463 million (about $1,545 per sqft).
●  A four-bedroom unit starts at $1.581 million, with an area of 1,012 sq ft and a unit price of around $1,562 per sqft.
●  larger four-bedroom plus study unit (1,163 sqft) starts from $1.779 million, or roughly $1,530 per sqft.

Novo Place is currently the second executive condominium to be launched in 2024. As inventory gradually dwindles, strong market demand is expected for it.

6.NAVA GROVE

The 552 units of  Nava Grove, developed by MCL Land and Sinarmas Land, opened on 2nd  November and officially launched on 16th November
The luxury condominium sits on 99-year leasehold land of 269,522 sq ft at Pine Grove (Plot B), which was acquired through a land tender in November 2023 for S$692.388 million, or about S$1,223 psf.

Nava Grove offers various unit types, ranging from two-bedroom to five-bedroom units.

● Two-bedroom units start at 624 sqft and are priced from $1.388 million ($2,244 per sqft).
● Three-bedroom units start at 947 sqft, priced from $2.188 million ($2,310 per sqft).
● Four-bedroom units start at 1,335 sqft, with prices beginning at $2.988 million ($2,238 per sqft).
● Additionally, there’s a four-bedroom dual-key unit (1,464 sqft), starting at $3.468 million ($2,369 per sqft).

Neighboring project Pinetree Hill,  jointly launched by UOL Group and Singapore Land Group, has sold 72% of its 520 units, with an average selling price of S$2,456 per square foot.

The next two weeks promise an exciting market period, and relevant real estate officials also expressed confidence that more than 1,000 units will be sold before 16th November.

Now is a good time for homebuyers to purchase, compare prices, and find a house that suits them.

Source: Singapore Eye