An Overview on New Launches in first half of 2014

In just the first six months of 2014, over ~7400 private residential housing are set to be launched. With so many new launches (Ref. Table 1), it might be easy to overlook them. Let’s take a look at some of the hottest, most attractive properties.

Marina One Residences new launch is considered by many to be the most prominent launch of the first half of 2014. A new launch near MRT located right next to Marina Bay MRT and the Financial District at Prime District 01, it bears a massive land area of 282,014 sqft consisting of two 34-storey blocks of 1,024 sqft residential units along with 30-storeys blocks of premium office space. At the current moment, no information on pricing is available. However, speculation have price it at $2,500 psf.

If you’re in the market for a new launch or new condominium, you’re in luck. Joining Lakefront Residences (currently under construction) and Lakeshore (a 5 year project which TOP in 2008), LakeVille, a new launch development is scheduled to be launched next to Jurong Lakeside MRT overlooking Jurong Lake and Chinese Garden. Outside of the aforementioned two properties, there is no competition for private Condos in the nearby vicinity! The competition is priced at a range of $1,000 ~ $1,200 on average – thus this development is poised to be well received if the price is right!

Despite being located outside of the Central Region (OCR), its location is in the middle of various entertainment and recreation facilities. Jurong East Sports & Recreation Centre, Jurong Country Club, the Science Center and finally Jcube/JEM/Jurong Point (three of the biggest Shopping Malls in Singapore) are simply within driving distance.

Yet another standout new launch comes to light: Keppel Land will be launching Highline Residences, a new launch near Tiong Bahru MRT Station at Kim Tian Road. Enjoying excellent connectivity due to its close proximity to the Central Business District (CBD), Marina Bay and Sentosa with Orchard Road being only a short drive away, this 99-year lease city-fringe development boasts a total land area of 118,303 sqft comprising of 500 residential units. For those looking for work, plentiful industrial offices/buildings are scattered throughout the Westgate Tower and International Business Park – excellently suited for residents working in the region. For others who seek an education for their children, Highline Residences new launch is located within public transportation distance from Canadian International School, Rulang Primary School and River Valley High School.

The government has gone on the record stating its intention for decentralization and spreading its commercial hubs through multiple strategic OCR areas. Only time will tell whether these predictions will come through, but we believe the future is bright.

Table 1: Major Residential New Launches in the next six months

*Launched in late January 2014   *Launched in February 2014
CCR – Core Central Region;  RCR – Rest of Central Region;  OCR – Outside Central Region
Source: URA, Savills Research & Consultancy