New property launches to welcome by April 2017

Come the fourth month of the year, and the property market will be seeing as many as four new property launches spicing up the mix. Sentiments have been looking up of late as more buyers are coming to terms with the market reaching the bottom of the cycle, and these new launches may welcome increased interest from buyers. Property analysts are expecting up to 9,000 new home sales this year.

ClementiCanopyPhoto credit: www.theclement-canopy.com.sg

The 4 new upcoming launches buyers can look forward to are:

The first project expected to launch as soon as next month is the 505-unit Clementi Canopy. Though recent trend has shown smaller units as being more popular with buyers, this development will feature mainly 2-bedders to 4-bedders sized between 635 sq ft to 1,500 sq ft, with the former making up almost a third of the units.

Paya Lebar Quarter_LendleasePhoto credit: Lendlease

One of the more exciting projects from the list above is Park Place Residences at PLQ. It is Lendlease‘s first residential project in Singapore and the rejuvenation plans for Paya Lebar, to build an integrated development in Paya Lebar Central, may be the nectar that attracts buyers. The project is directly linked to the Paya Lebar MRT station and will also include residential units with a range of 1- to 3-bedroom apartment units, 3 office towers and a retail mall with more than 200 stores. Successes of previous launches and sales of similar projects such as NorthPark Residences and The Poiz Residences are signs of assurance for the developers that take-up rate will be positive.

 

Eastside Story – Amber Road

Along Amber Road, many new properties are being built. And before they are even completed, they are already been eagerly sought after, especially by the expatriate community. Reasons that area is well-liked is clear. A heritage area with good food, shopping malls, serviced by various means of public transport and roads that lead to the city centre, airport and beach which are all just a stone’s throw away – Amber Road is set to wow.

Shore Residences Amber RoadProperties along this stretch include The Seaview, The Esta, One Amber, Amber Residences, The Cape and Silversea. Industry analysts are expecting 700 new homes in this area within the next few years. There is yet space for another 150 units as Marine Point, sold in a collective sale last January, will yield a good many more homes. Many of the properties here are freehold, making them all the more enticing to property investors.

Sales of resale units in older condominiums as well as rental yields reveal a healthy appetite for homes in the East side. Near good schools, the beach, East Coast Park and many other amenities, property investors favor this spot for obvious reasons. However, those who are purchasing a unit here only now may be at a disadvantage compared to those who bought in before the implementation of the additional buyer’s stamp duty. The lack of a MRT station might be cause for a slower rise in home prices here. But by the way Singapore is progressing, this area may have a MRT station or improved transport modes sooner or later. Then, it might be time to rake in the profits.