Are you looking for a condo to buy but are overwhelmed with options? Of course you are — The last en-bloc cycle of 2018 translates to quite a few new launches this year in 2021. In this article, we discuss some widely anticipated new launches and give you a brief overview. But before we get into it, let’s briefly discuss the trends in the current property market with a focus on condos.

Based on data from SquareFoot, we can see a general rise in condo property prices. This is definitely attributed to Singapore’s natural land scarcity and year. While last year plunged the economy into a decade low for many industries across the board, many turned to the property market to park their money since property is seen as a stable and desirable asset class locally. There were many HDB upgraders and wealthy buyers who contributed to the rising trend, mostly going for condos in the Outside Core Region (OCR) due to their affordability during COVID-19 in 2020.  Prices of condos are expected to rise over the next few years due to fewer government land sales and new launches. So if you’re looking to get into the market and assess what is available and within your scope let’s get into the new launches for 2021.

Recently Launched

Normanton Park

+ Wide-unit selection

+ Direct access to AYE

– Favours buyers with personal vehicles

Developed by Kingsford Huray (yeah, that one that got the no-sale ban lifted), Normanton Park is a massive 99-year leasehold project estimated to TOP in 2023. It launched in January 2021 and sold around 600 units on the first day. Currently, they have approximately 1.2k out of 1,862 units left. We covered this in our studio video and our full-length article. Be sure to check it out.

The developers breakeven price works out to be approximately $1,482 PSF PPR from a total estimated cost of $1.34 bil. This includes the land cost of $830.1 mil for the 661,005 sq ft plot. The massive project is located at District 5, Kent Ridge, right across Kent Ridge Park – guaranteeing a great view of the developing Greater Southern Waterfront.

It consists 1862 strata residential units, 18 units of landed houses and 8 commercial units. Composing a balanced mix of 1-5 bedders with penthouses and strata landed houses, the development is ensconced in greenery and at the epicentre, a rejuvenating pool. The buildings around the plot are low-rise thus affording unblocked views all around. The unit sizes range from 484 sq ft to 1615 sq ft, with the terrace houses at 2110 sq ft. Prices start from 700k for 1-bedders and go up to $3.46 mil for the terrace ones. They also have a wide variety of facilities including five different pools and a tennis court, separated into different zones.

In terms of conveniences, Normanton Park caters to residents with private vehicles due to its proximity to major roads such as AYE, MCE and CTE. However, the closest MRT station, Kent Ridge, is a 6-minute bus journey away. There are also food options nearby such at places like Science Park Drive.

For families with young children, schools like New Town Primary School, Queenstown Primary School, and Queenstown Secondary School are less than 15 minutes away. For families with older children, institutions like Singapore Polytechnic, Singapore University of Social Sciences,National University of Singapore and the rest of the academia belt are also within close proximity. There are several offices such as Science Park I and Mediapolis within a 15-minute walk and CBD is a 13-minute drive away. Normanton Park’s unit mix and proximity to schools, institutes of higher learning and offices, makes it a viable option for families and working adults with their own private vehicles. For a more detailed analysis including exit strategies and price comparisons, check out our review here.

To Launch in 2021

Midtown Modern

GLL D Pte. Ltd., Intrepid Investments Pte. Ltd. and Hong Realty (Private) Limited jointly developed Midtown Modern, the residential component of Guoco Midtown II.

Guoco Midtown II is an extension of Guoco Midtown, a mixed-used development including residential units, grade A office spaces and retail pavilions to promote seamless connectivity between life, work and play within the Bugis area. Developers explained that their aim for Guoco Midtown was to “bring about a transformation of the neighbourhood into a new business and lifestyle destination in the CBD”. The residential component for Guoco Midtown is called Midtown Bay and you can check out our detailed review right here. Also, Guoco Midtown II will be linked to Guoco Midtown via an underground tunnel to ensure accessibility.

Midtown Modern is a 99-year leasehold project located in District 07, Bugis, estimated to launch in the first quarter of this year and TOP in 2025. The project is expected to have 558 units, from 2- to 4-bedders, spread across two 30-storey towers situated on a 124,116 sq ft plot. Including a land cost of $800.2 mil, their breakeven works out to be $2,268 PSF PPR.

The project is expected to have 558 units, from 1- to 4-bedders and 2 penthouses, spread across two 30-storey towers situated on a 124,117 sq ft plot. Prices are expected to range from $1.1x mil for the 1-bedders to a minimum of $4.5x mil for the 4-bedroom penthouse.

The closest developments to Midtown Modern are Tanglin Hill Meadows and Tanglin Park. The table above highlights the key differences between the three projects’ 4-bedders. While Midtown Modern might seem substantially more expensive, with a $400k and almost $1 mil difference respectively, we should note that the project is much newer. Meaning more up-to-date facilities, smart-homes and premium fixtures.

Midtown Modern is located in an extremely convenient location for residents who commute using public transport since it’s directly above Bugis MRT station. For access to the Circle Line and North South line, Esplanade MRT station and City Hall MRT station are a 9-minute and 13-minute walk away respectively.

Moreover, since Midtown Modern is located right in the heart of Downtown Core, Bugis Junction and Bugis Plus are a mere 8-minute walk away ensuring good food and shopping. The closest primary school, Stamford Primary School is only 600m away. There are also other schools like School of the Arts, Dunman High School and Singapore Management University, less than 30 minutes away by public transport. For nature lovers, Fort Canning park is a 20-minute walk away and for foodies, Golden Mile Food Centre is a 15-minute walk away.

Finally, several Grade A offices such as Centennial Tower, South Beach Office Towers and Suntec City Towers, are within a 15-minute walk, not including the integrated Grade A office spaces within the Guoco Midtown project. These towers are home to MNCs such as Sumitomo Mitsui Banking Corporation, FaceBook and PayPal respectively which bodes well for potential buyers because not only would it contribute to increased convenience but also a stronger tenant pool and exit strategy.

Its prime location and choice of units makes it a great option not only for young families but also working couples who would like a home close to town.

Expected preview launch date: 6th – 15th March 2021

Atelier

Developed by Bukit Sembawang Land Pte Ltd, Atelier is a freehold condo estimated to TOP in 2024, and just launched this Saturday on 27th Feb 2021. It sits on a 41,582 sq ft plot, located in DIstrict 09, Novena. Developers snagged the plot through an en bloc for $189.3 mil. So including their other expenses, their total estimated costs are $262.1 mil and their break even comes up to approximately $2,251 PSF PPR. They have a smaller selection of 120 units ranging from 1- to 4-bedders catering to singles, couples and small families.

Currently, The Atelier has not released their price list. However, if we look at the surrounding condos, we can get a rough estimate for how much their units cost. The table above shows a comparison between The Atelier, Kopar At Newton and Rochelle At Newton’s 2-bedders. The most meaningful comparison would be to Kopar since it is also an upcoming 99-year project. Using Kopar’s PSF, we can estimate that the smallest 2-bedder at The Atelier would cost approximately $1.7x mil. While that might seem too pricey compared to Kopar, we should bear in mind that The Atelier’s units are larger allowing for more usable space.

The Atelier offers residents a variety of facilities despite being a boutique apartment. Their facilities are split into three zones, each on a different level. On the first floor, in the Indulge zone, they have a lap pool and steam room ensuring you can still have a swim or unwind while sweating it out. The Immerse zone on the sixth floor, is a family oriented space with the kids’ pool and outdoor dining spaces. Finally, the Inspire zone on the 18th floor is a space for residents to hang out and relax in the various seating areas and they have the gym and clubhouse.

There are also many conveniences in close proximity to the development. Newton MRT station, located on the North South and Downtown lines, is an 8-minute walk away making it pretty convenient to get to town and to other parts of Singapore. Since good food is an absolute must for most Singaporeans, we’d like to highlight how Newton Food Centre housing Michelin awarded chilli crab, is only an 8-minute walk away. United Square Shopping mall for your errands and simple shopping is a 10-minute walk away and for those who would like to intensively shop, Orchard Shopping district is a 7-minute drive away. There are also renowned schools such as Anglo-Chinese School (Junior), St Joseph’s Institution (Junior), School of the Arts and Anglo-Chinese School (Barker Road) nearby. CBD is also about 30 minutes away via public transport.

The Atelier’s location makes it attractive for families that would like a home slightly further from the bustle of town and CBD but still close enough for convenience. Its unit mix and proximity to premium schools also makes it ideal for young families.

Preview Launch Date: 27th February 2021, Saturday

One-North Eden

Helmed by TID Pte Ltd, One-North Eden is a joint venture between Singapore’s Hong Leong Group and Japan’s Mitsui Fudosan. It’s got a 99-year tenure and is expected to launch in the first quarter of 2021 and TOP in 2025. The project will sit on a 62,201 sq ft plot on One-North Gateway. TID beat out nine other bidders to win the site for $155.7 mil. Their estimated breakeven works out to be $1,601 PSF PPR from their total estimated costs of $249 mil. Yet another boutique apartment, One-North Eden offers 165 residential units spread across two blocks – 13- and 15-storeys. Despite the few units, they offer a wide variety from 1-bedders to 5-bedders.

The two closest condos to One-North Eden would be One-North Residences and Rochester Residences. This table shows a comparison between the three projects’ 3-bedders to gauge how One-North Eden fares against nearby developments. To calculate the prices for One-North Eden, we included a 20% profit margin to the breakeven. That gives us a rough estimate of $1,921 PSF. The quantum price was then calculated using the smallest unit area for the 3-bedders. While a brief comparison might suggest that One-North Eden is more expensive, it’s also the newest condo in the area with at least 10 years on the other two. Therefore, the higher price comes with a longer remaining lease and modern facilities.

One of the main highlights for One-North Eden would be its location. Firstly, it’s only a 9-minute walk to Buona Vista MRT station that connects to the Circle and East West lines for easy navigation to the rest of Singapore. Star Vista is situated above Buona Vista ensuring convenient access to a  supermarket (Cold Storage in this case) and many FnB outlets. Secondly, there are various renowned schools such as ACJC and ACS nearby increasing accessibility for families with older children. Thirdly, the proximity to National University of Singapore (NUS), National University Hospital (NUH), Fusionopolis and Biopolis greatly contributes to your potential tenant pool and exit strategy. NUS would attract different academics and researchers, NUH would attract medical staff like doctors and surgeons. Fusionopolis is a hub for scientific and technological research and development while Biopolis focuses on biomedical research and development attracting more scientists and engineers.  Finally, you also have international schools like UWC and Tanglin Trust School nearby that again contribute to your tenant pool because proximity to international schools attracts expatriates and foreign investors.

In conclusion, One-North Eden might be a boutique apartment with few unit options but it has a great location that contributes to growth and rental potential. If you’re looking for an investment property, One-North Eden is a viable option.

Expected preview launch date: End March or Early April 2020

One Bernam

One Bernam is a mixed-use development by MCC Land and their partner Hao Yuan Realty. The project has a 99-year tenure and is located in District 2, Tanjong Pagar. It’s expected to launch in May 2021 and TOP in 2025. Hao Yuan Realty managed to win the 41,400 sq ft plot for a bid of $440.9 mil and their breakeven comes up to approximately $2,178 PSF PPR. Their 351 residential units will be spread across 2 towers and comprise 1- to 3-bedders and three penthouses, catering to singles and couples.

The key highlight for the project is how convenient it is. Tanjong Pagar MRT station that connects to the East West line is a mere 6-minute walk and the upcoming Prince Edward MRT station would also be a few minutes away. For those who drive, MCE is 6 minutes away and AYE is 8 minutes away. In addition, CBD is 19-minutes away by foot. Taken together, the concentration of smaller units and proximity to the heart of the city makes it ideal for working singles or couples who prefer a shorter commute.

Expected preview launch date: TBA, but definitely before mid-2021

Ryse Residences

Helmed by Allgreen and Kerry Properties (subsidiaries of the Kuok Group), Ryse Residences is a 99-year leasehold project located in Pasir Ris, District 18. The project is expected to launch in the second half of the year and TOP in 2024. The 409,068 sq ft site cost approximately $700 mil so their breakeven works out to be $684 PSF PPR. The project offers a wide variety of 600 units ranging from 1- to 4-bedders, situated above a three-storey shopping mall.

Developers plan for Ryse Residences’ to be a massive integrated project including a shopping mall, bus interchange and polyclinic. Other than the convenience afforded by having these facilities at your doorstep, its other merit lies in that it’s situated in a matured estate. This means that there are well-established hawker centres and daycare centres nearby. For example, Pasir Ris Central Hawker Centre is only a 6-minute walk away and NTUC Health Senior Day Care is a 7-minute drive away. There are also two Primary Schools within 1km, namely, Elias Park Primary School and Casuarina Primary School.

Although Ryse Residences might be a distance away from the heart of the city, it seems to be an affordable condominium that offers great day-to-day conveniences for a comfortable stay.

Expected preview launch date: TBA, no news for a while.

Irwell Hill Residences

Irwell Hill Residences is estimated to have 580 residential units spread across two 36-storey blocks, comprising 1- to 4-bedders. It sits on a 138,000 sq ft site that City Developments (CDL) cinched for $583.89 mil. Including their other expenses, their break even works out to an estimated $2,243 PSF PPR. The plot is situated on Irwell Bank Road at River Valley, District 9. It’s expected to launch in the first quarter of 2021 and TOP in 2025.

Nestled in the heart of the city, Irwell Hill Residences boasts unparalleled connectivity to Orchard shopping district and CBD. On stressful days, you can indulge in some retail within 6 minutes at the various malls at Orchard Road or if shopping isn’t your thing, you can head to Robertson Quay for a scenic stroll along the river to unwind. Morning congestion wouldn’t be a huge deal either since CBD is only 7 minutes away. In addition to Great World City Mall for your errand-running and Zion Riverside Food Centre, Irwell Hill Residences is surrounded by other great food options, hipster cafes and quaint bars. For families considering Irwell Hill Residences, there are also several renowned schools nearby such as River Valley Primary School (0.538km away) and Crescent Girls’ School.

Overall, Irwell Hill Residences is a great fit for those looking for a home close to town and CBD. Its proximity to several schools and larger units also makes it a feasible option for young families.

Expected preview launch date: Q1, Q2 2021

Conclusion

In this article, we highlighted some of our most anticipated new launches for the year. If you found any of them particularly interesting or would just like to find out more, feel free to reach out to our dedicated team here for a consultation. If you’d like to read more of our educational pieces or our in-depth new launch reviews, do check out our blog here. We also have compiled a list of new launch ECs for your perusal that you can check out here. Stay tuned for more real estate content and we’ll see you in the next one.