The en-bloc fever might have come to an end, but developers are already planning sales launches from their accumulated land banks, giving Singaporean property-hunters plenty of choices in 2019.
If you’re thinking of buying a private property for rental income or investment purposes, it is worth noting that the rental market is still not very strong. In the near-term, you should not expect super attractive yields from your properties. With rising interest rates, it might be prudent to also be conservative when counting on rental income to service any debt obligations.
Whether these condos are worth their asking prices and if they are affordable, is also something prospective homebuyers need to carefully evaluate for themselves.
With that in mind, here are some of the largest new condominium projects expected to launch in the first half of 2019.
Treasure @ Tampines
Treasure @ Tampines will be built on the site of the former Tampines Court HUDC estate in Tampines Street 11, which was snapped up in an en-bloc sale for $970 million by the Sim Lian Group.
The new 99-year development is expected to comprise more than 2,000 units, and is situated between Tampines and Simei MRT stations. The site gives homeowners convenient access to tertiary institutions like the Singapore University of Technology and Design, Temasek Polytechnic, and ITE College East, amenities like Our Tampines Hub, and plenty of shopping centres.
Former Normanton Park
The new condominium project by Kingsford Huray Development in District 5 is expected to consist of at least 1,200 units.
The project will be built on the site of the former Normanton Park, which was sold en-bloc in 2017 for $830.1 million, $30 million more than the reserve price.
The surrounding Buona Vista area is home to office complexes clustered around Buona Vista and one-north MRT stations, as well as having good access to Clementi, Jurong and Queenstown.
When completed, this new development along Jalan Lempeng in Clementi (District 5) is expected to house about 1,500 units. The 633,644 square foot site is where the former Park West condominium was, which was bought by the SingHaiyi Group for about $840 million.
Residents of The Cematis will have good access to universities like the National University of Singapore and the Singapore University of Social Sciences, two polytechnics, the planned Jurong Lake business district and all the amenities of a mature town.
Former Florence Regency
Developed by Logan Property, this new condominium is expected to be home to about 1,400 units. Located on Florence Road, off Hougang Avenue 2. The 389,286 square foot site is formerly the Florence Regency HUDC estate, which was sold en-bloc for $629 million.
The condominium’s location is about 400 metres from Hougang MRT station and the surrounding town centre, allowing homeowners to enjoy the dynamism and wide range of amenities of the heartlands.
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