The private residential property market is showing clear signs of a pick-up. In 3Q2017, private home prices rose slightly by 0.7 per cent, following a gradual decline over 15 consecutive quarters. Prices in the Outside Central Region (OCR), Rest of Central Region (RCR) and Core Central Region (CCR) rose by 0.8 per cent, 0.5 per cent and 0.1 per cent, respectively.
When it comes to new sales, condos in the OCR led the way, accounting for 57.4% of new sales in the first 11 months of 2017. This is followed by city-fringe condos at 34.4%, and prime district condos at 8.2%.
District 16 (Bedok, Upper East Coast, Eastwood, Kew Drive) had the highest number of newly launched units in the OCR this year, with 720 units put on sale. District 14 (Geylang, Eunos) had the highest number of newly launched units in RCR, with 243 units. Meanwhile, district 9 had the most newly launched units in the CCR in 2017, with 120 units launched.
New sales in the private residential properties segment in 2017
*Figures are accurate as of 30 November, 2017.
Based on developer sales, we will look at the best-selling new projects in 2017 by comparing the number of units at the development and the number of units that were sold this year.
1) Parc Riviera (OCR)
D5 – West Coast Vale
Developer(s): EL Development (West Coast) Pte. Ltd.
Tenure: 99-year leasehold
Median price: $1,241 psf
Total units: 752
Units sold in 2017: 731 (as of Oct 1)
Image source: parcrivieracondo.sg
When Parc Riviera was first launched for sale in early November last year, EL Development introduced an innovative scheme — “one-tier pricing” — where the psf price is fixed for each unit type, regardless of whether the buyer purchased a unit on the first level or on a higher level up to the 15th floor in the 36-storey tower.
The one-tier pricing was offered for 278 units on the first day of launch. It attracted a lot of interest, both from potential buyers and other developers.
The launch of The Clement Canopy, located some 2km from Parc Riviera, is also said to have sparked interest in the project. To date, 86% or 665 units at the development have been launched, while 97% of the units or 731 units at the development have been sold in 2017.
2) Grandeur Park Residences (OCR)
D16 – Bedok South Avenue 3
Developer(s): CEL – Changi Pte Ltd
Tenure: 99 years leasehold
Median price: $1406 psf
Total units: 720
Units sold in 2017: 484 (as of March 1)
Grandeur Park Residences is located just 220m away from Tanah Merah MRT station and has an expected TOP date of 2021.
It has been fully launched, and 67% or 484 units at the development have been sold so far.
The project’s location and proximity to the MRT offers residents a perfect blend of quiet tranquillity and accessibility. Find similar properties using our powerful MRT search function here.
3) Seaside Residences (OCR)
D15 – Siglap Link
Developer(s): East Vue Pte Ltd
Tenure: 99 years leasehold
Median price: $1736 psf
Total units: 841
Units sold in 2017: 419 (as of April 1)
This luxury beachfront condo is located just a three minutes’ walk away from the future Siglap MRT station, and a four minutes’ walk to East Coast Park.
About 67% or 560 units have been launched at Seaside Residences, and approximately 50% or 419 units have been sold so far. It is slated for an April 2021 completion.
4) The Clement Canopy (OCR)
D5 – Clementi Avenue 1
Developer(s): United Venture Development (Clementi) Pte Ltd
Tenure: 99-year leasehold
Median price: $1,343psf
Total units: 505
Units sold in 2017: 324 (as of Oct 1)
Image source: theclementcanopy.sg
The Clement Canopy is a joint venture between UOL Group and Singapore Land. It is the first condominium project that came to the market this year.
As of October 1, 89% or 450 units at the development have been launched, and 82% or 412 units at the development have been sold. The Clement Canopy is slated for a Nov 2020 completion and about 64% or 324 units at the development were sold in 2017.
The project is located near National University of Singapore (NUS) and the Yale-NUS College, and is also close to Clementi MRT station. Want to live near some of Singapore’s most renowned schools? Browse property listings near MRT stations using our MRT search function today.
5) Le Quest (OCR)
D23 – Bukit Batok Street 41
Developer(s): Qingjian Realty (BBC) Pte Ltd/Qingjian Realty (BBR) Pte Ltd
Tenure: 99 years leasehold
Median price: $1309 psf
Total units: 516
Units sold in 2017: 287 (as of August 1)
Image source: Qingjian Realty
Le Quest is a mixed-used development in Bukit Batok. It comprises 516 private residential units and more than 64,584 sq ft of commercial space. When completed, it will have five 12-storey apartment blocks above a four-storey podium that will house retail space, a childcare centre and car parks.
So far, 58% or 300 units at the development have been launched. About 56% or 287 units were sold in 2017. It is expected to be completed by end-2021.
6) Park Place Residences at PLQ (RCR)
D14 – Paya Lebar Road
Developer(s): Roma Central Pte Ltd/Milano Central Pte Ltd/Verona Central Pte Ltd
Tenure: 99-year leasehold
Median price: $1,805 psf
Total units: 429
Units sold in 2017: 217 (as of March 1)
Image source: Lendlease
The 429-unit Park Place Residences at PLQ is part of Paya Lebar Quarter, an integrated development that includes a shopping mall with more than 200 shops and three towers with almost a million sq ft of Grade-A office space. The project will have a direct link to the Paya Lebar MRT interchange station.
A total of 217 units or 51% of units at the development were launched in March and all the units have been snapped up. It is slated for an end-2020 completion.
Be part of the vibrant growth in Paya Lebar. Find properties near the Paya Lebar MRT station using our MRT search function here.
7) Artra (RCR)
D3 – Alexandra View
Developer(s): FEC Skyline Pte Ltd
Tenure: 99-year leasehold
Median price: $1,702 psf
Total units: 400
Units sold in 2017: 180 (as of October 1)
Image source: artracondo.sg
Artra fronts the Redhill MRT station, and comprises a single 44-storey tower with a mix of two-, three- and five-bedroom apartments. There will also be a FairPrice Finest supermarket and 16 shops on the first level of the development.
To date, 187 units or 47% of units at the development has been launched. A total of 45% units or 180 units at Artra have been sold. The development is expected to complete in 2021.
Find similar city-fringe homes near the MRT with our powerful MRT search tool.
8) Martin Modern (CCR)
D9 – Martin Place
Developer(s): Martin Modern Pte Ltd
Tenure: 99 years leasehold
Median price: $2,232 psf
Total units: 450
Units sold in 2017: 186 (as of October 1)
Martin Modern is located at the corner of Martin Place and River Valley Close, in District 9, within the residential neighbourhood of Robertson Quay.
The project is located near Somerset MRT station, and is also within walking distance from Fort Canning MRT station and the upcoming the Great World MRT station. According to its developer GuocoLand, over 80% of the land area at Martin Modern will be turned into a unique botanic garden and an arboretum of native trees and vegetation.
To date, 47% or 210 units at the development has been launched, and 41% or 186 units at the luxury development have been sold in 2017.
*Data is accurate at the time of writing but should not be taken for official purposes.