𝐒𝐈𝐍𝐆𝐀𝐏𝐎𝐑𝐄 𝐏𝐑𝐎𝐏𝐄𝐑𝐓𝐘 𝐌𝐀𝐑𝐊𝐄𝐓: 🔴 𝐍𝐄𝐖 𝐏𝐑𝐎𝐉𝐄𝐂𝐓𝐒 𝟐𝟎𝟐𝟑 (𝐄𝐀𝐒𝐓)
𝗧𝗵𝗲 𝗘𝗮𝘀𝘁 𝘀𝗶𝗱𝗲 of Singapore has long been associated with good food and instagrammable houses and buildings. More exciting times ahead as the East side community can look forward to at least 10 new property developments coming its way this year.
The first launch of 2023 – 𝗦𝗰𝗲𝗻𝗲𝗰𝗮 𝗥𝗲𝘀𝗶𝗱𝗲𝗻𝗰𝗲, saw a take-up rate of 60% at an average price of $2,072psf at its launch on 14 January 2023. Of the units sold, 75% are 1- and 2-bedroom units. Singaporeans make up 88.5% of the total number of home buyers. Sceneca Residence is a mixed-use development with direct access to Tanah Merah MRT station.
Coming right up after Sceneca Residence, 3 other major projects in the Eastern region are in the pipeline:
1) ️𝗧𝗲𝗺𝗯𝘂𝘀𝘂 𝗚𝗿𝗮𝗻𝗱 at Jalan Tembusu, a 638-unit joint development by CDL and MCL Land (Preview: March 2023)
2) 𝗧𝗵𝗲 𝗖𝗼𝗻𝘁𝗶𝗻𝘂𝘂𝗺, a freehold 816-unit development at Thiam Siew Avenue by Hoi Hup and Sunway (Preview: March/April 2023)
3) 𝗚𝗿𝗮𝗻𝗱 𝗗𝘂𝗻𝗺𝗮𝗻, a Dunman Road GLS 1,035-unit mega development by Singhaiyi Group (Preview: Q2/Q3 2023)
With 𝗽𝗼𝗽𝘂𝗹𝗮𝗿 𝘀𝗰𝗵𝗼𝗼𝗹𝘀 like Haig Girls’, Tanjong Katong Girls’ and Chung Cheng High in the vicinity, you might want to check these out.
Scan the 𝗤𝗥 𝗖𝗢𝗗𝗘 (𝗥𝗲𝗱 𝗕𝗼𝘅) bit.ly/Upcoming-New-Launches to read more and register for updates and showflat previews.
"𝘛𝘰𝘶𝘤𝘩𝘪𝘯𝘨 𝘓𝘪𝘷𝘦𝘴, 𝘊𝘰𝘯𝘯𝘦𝘤𝘵𝘪𝘯𝘨 𝘗𝘦𝘰𝘱𝘭𝘦 𝘛𝘩𝘳𝘰𝘶𝘨𝘩 𝘙𝘦𝘢𝘭 𝘌𝘴𝘵𝘢𝘵𝘦."
𝗗𝗶𝗱 𝗬𝗼𝘂 𝗞𝗻𝗼𝘄? For the whole of 2022, sales volume of new homes fell by about 36% compared with 2021. An estimated 4,500 to 4,600 units (across 21 projects) were launched in 2022 – less than half of 2021’s launch volume. For the whole of 2022, private home prices grew 8.4%, slowing from 2021’s 10.6% rise. Analysts are of the view that the rising interest rates will peak this year and pose marginal deterrence to new project buyers since mortgage payment is progressive. Some 50 new projects totalling 13,000 to 14,000 new home units may be launched in 2023. Over 3,000 units across 12 new property launches are expected in the East.