Are you on the hunt for a dream home that reflects your sophisticated taste and modern lifestyle? Or perhaps you’re an investor looking for an incredible opportunity to expand your real estate portfolio?
Buckle up and get ready: 2023 is gearing up to be an exciting year for those chasing the ultimate urban living experience, with an impressive array of new condo launches set to grace the market. Designed by renowned architects and infused with state-of-the-art amenities, these projects promise to redefine luxury, convenience, and exclusivity.
In this article, we’ll expertly guide you through what to expect from the most-anticipated developments and help you make an informed decision on making your next big move or investment. Stay tuned – we’re going on a journey through the epitome of opulent living.
List of New Launch Condos for Sale in 2023 (by Developers)
In 2023, property seekers will be thrilled with numerous new launch condos for sale, brought to the market by reputable developers across Singapore. These new condo projects promise to offer the best in terms of innovative designs, luxurious amenities, and a wide array of unit types and layouts tailored to suit diverse lifestyles and budgets. From first-time buyers looking for a snug studio to growing families seeking spacious multi-bedroom units, the upcoming launches cater to accommodate every property buyer’s needs.
The list of new launch condos spans various locations across the city, from centrally located districts such as Boat Quay, Raffles Place, Marina and Thomson, to regions connected with well-established neighborhoods like Buona Vista, West Coast, Clementi New Town, Clementi Park, Upper Bukit Timah, Dairy Farm, Bukit Panjang, and Choa Chu Kang. All these regions offer unique benefits in terms of access to the Central Business District (CBD), proximity to top schools, commercial areas, and transportation networks.
Among the most anticipated projects slated for 2023 are the new condo launches by esteemed developers such as UOL Group, Singapore Land Group, Kheng Leong Group, City Developments Limited, MCL Land, Hoi Hup Realty, Sunway Developments, and many more. With a vast range of options to choose from, potential buyers are advised to get updates on the latest launches, download price lists and floor plans, and book exclusive show flat viewings for the best possible deals.
As Singapore’s real estate market continues to evolve, the year 2023 presents an exciting opportunity for property investors and new home buyers to invest in a condo that promises not only luxury and convenience but also the potential for stable returns. So, stay tuned to the latest updates and make informed decisions to secure your dream home in this dynamic property market.
New Launch Condo by Market Segment in 2023
In 2023, the market for new launch condos in Singapore is segmented into three key regions – Core Central Region (CCR), Rest of Central Region (RCR), and Outside Central Region (OCR). This classification is determined by the Urban Redevelopment Authority (URA) based on factors like proximity to the central business district (CBD), accessibility to transportation networks, and availability of amenities such as schools and commercial areas.
The Core Central Region (CCR) primarily constitutes the highest property prices owing to its strategic location. It includes Districts 9, 10, and 11, parts of the Downtown Core Planning Area, and Sentosa. This region is home to luxury condos, freehold condos, and Good Class Bungalows (GCB) which attract high-net-worth individuals.
Rest of Central Region (RCR) is a market segment that comprises strategic real estate areas such as Districts 3, 8, and 12, fringe areas of the CCR, and inner portions of the OCR – Districts 13, 14, 15, and 20. Due to the surge in land bid prices, RCR units per square foot (PSF) might exceed those in the CCR in some cases, with offerings focused on well-established neighborhoods.
Lastly, the Outside Central Region (OCR) spans three-quarters of Singapore’s landscape and consists of mass-market condo developments and executive condos (EC). The OCR is gradually becoming more popular amongst young couples and millennial families due to ongoing redevelopment efforts aimed at transforming suburbs into commercial districts with accessible transportation networks. Subsequently, properties within the OCR attract investors looking for a steady passive income stream as well.
Top 20 Active Developers for New Launch Condos in 2023
In the ever-evolving real estate landscape of Singapore, multiple developers are actively working on new launch condos, aiming to cater to the diverse needs of potential homeowners and investors. Here is a list of the top 20 active developers for new launch condos in 2023, based on various factors such as the number of projects, sales volume, and customer satisfaction.
1. City Developments Limited (CDL)
2. Far East Organization
3. UOL Group
5. Frasers Property
7. Bukit Sembawang Estates
8. Wheelock Properties
9. MCL Land
10. Allgreen Properties
11. Hong Leong Holdings
12. Oxley Holdings
13. SingHaiyi Group
14. Qingjian Realty
15. Keppel Land
17. Tuan Sing Holdings
18. Logan Property
19. Hoi Hup Realty
20. Sunway Developments
These top developers have established a solid reputation in the industry by continuously delivering high-quality new launch condos with innovative designs, excellent amenities, and services. Their projects span across various market segments, from the Core Central Region (CCR) to the Outside Central Region (OCR), ensuring that a wide range of property buyers can find a suitable new launch in 2023.
It is crucial for potential buyers to keep an eye on these top developers and their upcoming projects, as they can offer valuable insights into the latest industry trends and assure a reliable investment. By choosing a new launch condo from one of these reputable developers, homebuyers can enjoy a seamless buying experience and a property that meets their expectations.
Notable New Launch Condos Near MRT Stations in 2023
With the rapid development of new properties, it’s essential for homebuyers to stay updated on the latest condo launches, especially those located near MRT stations for convenience. Here are four notable new launch condos near MRT stations in 2023:
1. The Reserve Residences by Far East Organization and Sino Group is situated near Beauty World MRT station, providing easy access to Bukit Timah Plaza mall and various nature parks. This condo offers a range of one to five-bedroom units, with over 60 facilities and amenities for residents.
2. The Continuum by Hoi Hup Realty and Sunway Developments is an 11-minute walk from Dakota and Paya Lebar MRT stations, offering easy access to the Circle and East-West lines. This freehold project has 1 to 5-bedroom penthouse units and unique facilities like sky gardens and a conserved clubhouse.
3. Tembusu Grand, jointly developed by CDL and MCL Land, is located in District 15, minutes from Tanjong Katong Road’s restaurants and cafes. With 638 units of 1 to 5-bedroom apartments and facilities like a concierge service, a 50m lap pool, and a tennis court, it offers residents a comfortable lifestyle.
4. The Botany at Dairy Farm is another exciting launch featuring close proximity to MRT stations, great amenities, and a wide range of unit types to cater to different needs.
These new launch condos near MRT stations offer homebuyers an opportunity to invest in conveniently located properties that boast modern design, excellent connectivity, and unique facilities. Keep an eye out for these condo launches in 2023 for an ideal living experience.
7 Branded Home Goods
As we welcome the new wave of condo launches in 2023, it’s the perfect time to give your home a luxurious upgrade with branded home goods. Whether you’re moving into The Continuum, Tembusu Grand, or Sceneca Residences, it’s important to fill your space with items that not only look great but are also functional. Here are seven branded home goods to consider for your new launch condo in 2023.
1. Dyson: Known for their innovative vacuum cleaners and bladeless fans, Dyson offers a range of household products that are both stylish and functional. Their air purifiers and humidifiers are perfect for maintaining a comfortable and healthy environment in your new condo.
2. Smeg: Add a touch of retro charm to your kitchen with Smeg’s iconic 50’s style appliances, including refrigerators, ovens, and coffee machines. Their sleek designs and vibrant colors are sure to make a statement in any modern kitchen.
3. Bang & Olufsen: Elevate your audio experience with Bang & Olufsen’s high-quality speakers and sound systems. Their minimalist designs seamlessly blend into any contemporary space and offer exceptional sound quality.
4. Nespresso: Start your mornings with a perfect cup of coffee, courtesy of Nespresso’s sleek coffee machines. Their range of machines and coffee pods offer something for every taste and budget.
5. Artemide: Illuminate your new condo with designer lighting from Artemide. Their unique and innovative designs will create the perfect ambiance for your living space.
6. Vitra: Add a touch of sophistication to your living or working space with Vitra’s designer furniture. With pieces from renowned designers such as Charles and Ray Eames, you can’t go wrong with their timeless designs.
7. Sony: Upgrade your entertainment system with the latest gadgets from Sony, including TVs, gaming consoles, and home theater systems. Their cutting-edge technology and sleek designs are perfect for any modern condo.
Investing in these branded home goods for your new launch condo in 2023 will not only make your space look stylish and luxurious but also provide a comfortable and enjoyable living experience.
High Demand for Best-Sellers
In 2023, the property market in Singapore is witnessing a high demand for best-seller new launch condos. This trend can be attributed to various factors such as improved connectivity, ongoing redevelopment efforts by the government, and buyers seeking to upgrade their lifestyles.
One major reason for the high demand is the excellent connectivity provided by Singapore’s islandwide transportation network. This has made it extremely convenient for residents to access the Central Business District (CBD) and other parts of the island. Moreover, as Singapore is a small country, the time taken to travel from one location to another is relatively short, consequently increasing the appeal of new launch condos in 2023.
Another factor driving the demand is the government’s ongoing efforts to redevelop suburban areas and transform them into commercial districts. This provides numerous job, education, and entertainment opportunities for residents, making new launch condos in 2023 an attractive proposition for young couples and millennial families.
Lastly, with more people looking to upgrade their lifestyles, new launch condos offer modern amenities and facilities that cater to the needs of today’s discerning buyers. This has resulted in a steady stream of passive income for investors looking to capitalize on the high demand for new launch condos in 2023.
Centrality and Proximity Affect Prices of New Launch Condos
The property market in 2023 has seen a substantial effect on the prices of new launch condos due to centrality and proximity factors. As Singapore’s Urban Redevelopment Authority (URA) divides property market segments into Core Central Region (CCR), Rest of Central Region (RCR), and Outside Central Region (OCR), the prices of new condos in each region differ based on their accessibility to the central business district (CBD), popular amenities such as schools, and commercial areas, among other factors.
The CCR, comprising Districts 9, 10, and 11, parts of the Downtown Core Planning Area, and Sentosa, commands the highest property prices. This region is highly sought-after due to its centrality, proximity to commercial hubs, financial institutions, reputable schools, and tourism areas. Consequently, it attracts high-net-worth individuals, and the condos are usually luxury or freehold properties.
The RCR, including strategic real estate areas such as Districts 3, 8, and 12, features new condos with competitive prices compared to those in CCR, due to fewer government land sales and increasing land bid prices. However, the price difference between units sold in CCR and RCR is getting smaller.
Lastly, the OCR, which comprises three-quarters of Singapore’s landscape, offers mass-market condo developments and executive condos (EC) at more attractive prices. Despite a greater distance from the metropolitan area and CBD, MRT connectivity and ongoing redevelopment efforts by the government have made new condos in this region popular among young couples, millennial families, and investors seeking steady passive income streams.
In conclusion, the centrality and proximity to essential amenities primarily impact the prices of new launch condos in Singapore in 2023. With ongoing urban development, it is expected that these factors will continue to play a significant role in shaping the property market trends.
Redevelopment Efforts in the OCR
The Singapore government is actively investing in redevelopment efforts in the Outside Central Region (OCR) to ensure its continued growth and modernization in 2023. These efforts are aimed at transforming the sprawling suburbs into thriving commercial and residential districts, boosting their appeal and making them more attractive to prospective homeowners and investors.
A key component of these redevelopment efforts is the construction of new launch condos, which are expected to be in high demand among young couples and millennial families seeking upgraded living spaces and easy accessibility to the rest of the island. According to the Urban Redevelopment Authority (URA), the OCR will see a surge in 2023 new condo launches, catering to the rising demand for affordable and contemporary housing options in this region.
Additionally, the government is focused on enhancing transport infrastructure in the OCR, improving connectivity through the expansion of the Mass Rapid Transit (MRT) network, and introducing new roads and bus services. This will allow residents of new condos in the area to easily commute to the central business district (CBD) and other key facilities, further strengthening the allure of new launch condos in the OCR.
Simultaneously, the government’s redevelopment strategy includes the establishment of new commercial, educational, and entertainment hubs, aimed at providing a diverse range of work and leisure options for the growing OCR population. This will further contribute to the success of 2023 new launch condos, attracting both local and foreign investors seeking lucrative opportunities in an up-and-coming region.
Overall, the redevelopment efforts undertaken by the Singapore government in the OCR are expected to yield positive results for new launch condos in 2023, making them an attractive prospect for buyers and investors alike.
Scenic Locations of New Launch Condos in 2023
In recent years, Singapore’s property developers have increasingly focused on creating new launch condos in scenic locations, catering to the growing market segment of homebuyers who place a premium on living in visually striking and serene surroundings. As we look forward to 2023, there are several upcoming new condo launches that promise to offer prospective buyers picturesque and tranquil living environments.
Nestled within District 21, the Daintree Residence is a prime example of new launch condos set amid lush greenery. Located right next to the Bukit Timah Nature Reserve, residents have easy access to beautiful nature parks and tree-lined pathways. Its unique rooftop gardens and link bridges only add to the allure of living in this eco-paradise.
Riverfront Residences, located in District 19, offers picturesque living by the waterfront. The development’s proximity to the Serangoon River ensures residents can enjoy lovely river views and leisurely strolls by the riverside. Deluxe facilities such as riverside pools and cabanas also provide an idyllic retreat for relaxation and rejuvenation.
Lastly, the luxurious 3 Cuscaden in District 10 boasts a coveted Orchard Road address, with spectacular panoramic views of the cityscape. With its strategic location behind Wheelock Place, residents can enjoy both the urban buzz and a serene living environment.
Excellent Connectivity for New Launch Condos in 2023
As Singapore continues to expand its transportation network, residents in new launch condos in 2023 can expect excellent connectivity and accessibility. Particularly in areas such as the Central Business District, Rest of Central Region, and Outside Central Region, new condominium developments are designed with seamless access to major transportation hubs in mind, allowing residents to enjoy a hassle-free commuting experience.
One notable development in 2023, Newport Residences in the Central Business District, boasts an unbeatable location with both Tanjong Pagar MRT and the upcoming Prince Edward Road MRT stations situated just a few minutes’ walk away. Similarly, Skywaters Residences, set to become Singapore’s tallest skyscraper, is conveniently located with less than a 10-minute walk to three MRT stations.
In the Rest of Central Region, Terra Hill offers excellent connectivity with a 3-minute walk to Pasir Panjang MRT Station, providing residents close proximity to key destinations such as Kent Ridge Park, Hortpark, Telok Blangah Park, and Mount Faber Park.
For those residing in new launch condos in the East, the upcoming Tembusu Grand in the Katong/East Coast/Joo Chiat area promises a comprehensive range of transportation options, enabling residents to travel effortlessly and efficiently across the island.
In conclusion, new launch condos in 2023 are expected to offer excellent connectivity, simplifying the lives of their residents. By positioning these new developments near major transportation hubs, developers ensure ease of accessibility to the rest of Singapore – whether for work, leisure, or educational purposes.
FAQ: New Condo Launch 2023
Q1: What can we expect from the new condo launches in 2023?
A: In 2023, you can expect an array of exciting new condominium projects catering to various property market segments, including executive condominiums, freehold, and leasehold units. Developers are focusing on modern and convenient living spaces to meet the increasing demand in the real estate market.
Q2: What is the estimated average transacted price per square foot (psf) for new condo launches in 2023?
A: The estimated average transacted psf for new sale condominium units in 2023 is $2,251, representing a 5.1% increase from the previous year’s average.
Q3: How many new condo units are expected to be launched in 2023?
A: In 2023, we anticipate approximately 11,356 new launch condo units to be added to the market, catering to various segments such as the Outside Central Region (OCR), Rest of Central Region (RCR), and Core Central Region (CCR).
Q4: What is the expected take-up rate for new launch condos in 2023?
A: Assuming no significant changes in transaction volume, new launch condos are expected to maintain an average take-up rate of 73%. However, if there is a 10% decline in transaction volume, the take-up rate may drop to around 66%.
Q5: How are the new launch condos distributed across the different regions in 2023?
A: In 2023, the majority of leasehold new launch projects (13) will be located in the OCR region, with an estimated 4,479 new units at an average psf of $1,971. The RCR region will see around 1,795 new launch units with an average psf of $2,294, while the CCR region will have approximately 4 projects available.
Q6: What is the difference between freehold and leasehold new launch condos?
A: Freehold condos grant ownership rights for an indefinite period, making them ideal for long-term investments and generational transfers. Meanwhile, leasehold condos are for a fixed period (usually 99 years) with ownership eventually reverting to the original owner. Leasehold properties tend to be more affordable but may have limited resale and rental value as the lease nears expiration.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Michigan Journal USA journalist was involved in the writing and production of this article.