Buyers looking to purchase new private condominiums may face fewer project options this year. AnjiaSG estimates that more than 30 new condominium projects, including three Executive Condominium (EC) projects, could be launched for sale in 2022–potentially offering about 8,000 to 9,000 new homes. In addition, many of the projects launched in 2022 are small to medium-sized developments.
Based on the 2022 launch schedule, about 36% of the units will be in the Outside Central Region (OCR), 37% in the Rest of Central Region (RCR), and about 27% in the Core Central Region (CCR). The launch of these projects–especially in the OCR, also known as the mass market–will help to meet the demand from owner-occupier homebuyers to some extent.
Kicking off the new launches this year is the 107-unit Belgravia Ace, a freehold strata landed housing project located at Ang Mo Kio Avenue 5. The project has 104 semi-detached houses and three terrace houses. This project is particularly attractive to buyers looking for more spacious homes and living experiences.
Buyers can also look forward to The Arden, located on Phoenix Road, which is expected to launch in March. This 99-year leasehold development will comprise 105 residential units and should appeal to a diverse group of buyers, from families to young professionals and HDB upgraders. They are looking for a modern home that is close to nature and nestled in a tranquil environment, as it is located in a low-density landed housing estate.
Arguably, the central region stole the spotlight in 2021, with several new projects attracting buyers and achieving excellent sales results upon launch—such as Normanton Park, One-North Eden, The Reef at King’s Dock, Midtown Modern, Irwell Hill Residences, and CanningHill Piers. As the new cooling measures introduced in December 2021 may exert some pressure on sales in the central region, it is likely that projects in the Outside Central Region will have their turn to shine more brightly in 2022.
What’s Interesting About the New Property Launches Coming in 2022?
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Mass-Market Private Homes Near MRT Stations
Buyers looking for new projects in the Outside Central Region located near an MRT station will have several options this year. These include MCC Land’s Tanah Merah Kechil Link project (at the doorstep of Tanah Merah MRT station), GuocoLand’s project at Lentor Central (which will be integrated with Lentor MRT station), and a joint development by UOL, Singapore Land Group, and Kheng Leong at Ang Mo Kio Avenue 1 (about 500 meters from Mayflower MRT station).
City Living and Integrated Developments
Several new projects may be launched in the downtown area and the Central Business District. Among the most anticipated is IOI Group’s integrated development at Marina View. The project—located near Shenton Way MRT station—will offer 905 residential units, marking the first new private residential launch in the Marina Bay area since Marina One Residences was released in 2014.
Meanwhile, the redevelopment of several buildings could also boost the supply of new private homes downtown, as future developments may include a residential component. These potential launches could include the former Realty Centre on Enggor Street, the former Fuji Xerox Towers on Anson Road, the former AXA Tower on Shenton Way, the former Peace Centre on Sophia Road, and the former Maxwell House in Tanjong Pagar.
New Projects in the City Fringe
There are also some exciting new projects in the city fringe area, including an integrated project at Jalan Anak Bukit in the charming Beauty World area, jointly developed by Far East Organization and Sino Group, and the Piccadilly Grand project on Northumberland Road, developed by City Developments and MCL Land, near the Little India heritage district. Both the Jalan Anak Bukit and Northumberland Road projects are well-served by public transport, connecting to Beauty World MRT station and Farrer Park MRT station, respectively. These two upcoming projects will inject greater vibrancy into their surrounding communities.
Buyers who missed out on One-North Eden last year can look forward to two new nearby projects—EL Development’s Slim Barracks Rise Parcel A and Kingsford Development’s Slim Barracks Rise Parcel B—located in the one-north district, Singapore’s premier R&D and innovation hub.
Another noteworthy new project in the city fringe is LIV@MB, a redevelopment of the former Katong Park Towers by Bukit Sembawang. This 298-unit project is located near Mountbatten Road, nestled within an exclusive private residential enclave, and is just a short walk from the upcoming Katong Park MRT Station on the Thomson-East Coast Line.
Fewer Large-Scale Developments
Unlike previous years, there will be a limited number of large-scale condominium projects launched for sale in 2022. According to AnjiaSG’s tracking of upcoming new projects, none of the upcoming launches for sale have more than 1,000 residential units. The integrated development at Marina View, with an estimated 905 units, is expected to be the largest new project this year (see table below). In contrast, recent years have seen many large-scale developments brought to market, such as Normanton Park: 1,862 units, Treasure At Tampines: 2,203 units, Riverfront Residences: 1,472 units, Parc Clematis: 1,468 units, and The Florence Residences: 1,410 units, among others.
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