New launches to look forward to in 2022

EdgeProp Singapore

December 24, 2021

This year, 27 new projects were launched, similar to the 26 new launches in 2020. Developers are estimated to have sold 30% more new homes this year compared to the previous year, notes Lee Sze Teck, Huttons Asia senior director of research.

Slated for launch in 2022 are 41 new private residential projects, with a total of 5,389 units. Based on the number of units, 22% are in the Core Central Region (CCR), 37% in the Rest of Central Region (RCR), and 41% in the Outside Central Region (OCR).

New home sales next year could be constrained by a lack of new supply, says Lee. “While the number of launches is higher than 2021’s, the number of available units is much smaller at 5,389.” The new cooling measures on Dec 16 may see developers push back their new launches or release fewer units for sale, he adds. “This will affect sales volume next year.”

Potential new launches in 2022 are generally of smaller scale compared to those launched this year. In the coming year, there are no mega projects above 1,000 units such as Normanton Park this year, observes Tricia Song, CBRE head of research for Southeast Asia. A higher proportion of new projects is located in the Outside Central Region (OCR), mainly developments on government land sale (GLS) sites sold in late 2020 and 2021.

Kicking off 2022 is strata landed housing project Belgravia Ace by Fairview Developments, a joint venture between Tong Eng Brothers and Yeap Holdings. It will preview the 107-unit development with 104 semi-detached and three terraced houses on Jan 8, with the official launch targeted to take place a fortnight later on Jan 22. Belgravia Ace is the last of three strata landed projects at Belgravia Drive, off Ang Mo Kio Avenue 5.

Qingjian Realty’s 105-unit project The Arden at Phoenix Road, off Choa Chu Kang Road, is expected to be launched sometime between late January and early February, notes Ismail Gafoor, CEO of PropNex Realty.

Read more at: https://www.edgeprop.sg/property-new...k-forward-2022