If you’ve been scouring the internet looking for a new launch condo to be launched next year, you’ve come to the right place. Here’s a list of new launch condo projects that we think could potentially launch in 2022.
(We’ll update this article as we get more information.)
|Project name||Number of units||Region||Type of sale||Tenure||Developer|
|Slim Barracks Rise (Parcel A)||265||RCR||GLS||99-year||EL Development|
|Slim Barracks Rise (Parcel B)||140||RCR||GLS||99-year||Gao Xiuhua (One of the owners of Kingsford Development)|
|Marina View||905||CCR||GLS||99-year||Boulevard View (IOI Properties)|
|Tanah Merah Kechil Link||265||OCR||GLS||99-year||MCC Land (Singapore)|
|Lentor Central||605||OCR||GLS||99-year||GLL D (GuocoLand)|
|Jalan Anak Bukit||845||OCR||GLS||99-year||FEO and Sino Group|
|Ang Mo Kio Avenue 1||370||OCR||GLS||99-year||UOL Group, Singapore Land Group and Kheng Leong Group|
|Northumberland Road||405||RCR||GLS||99-year||City Developments Limited and MCL Land|
|Yishun Avenue 9 EC||600||OCR||GLS/EC||99-year||Sing Holdings Limited|
|Tampines Street 62 (Parcel A) EC||590||OCR||GLS/EC||99-year||QJ-OS and Santarli Realty (Qingjian Realty and Santarli Construction)|
|Tengah Garden Walk EC||615||OCR||GLS/EC||99-year||Taurus Properties SG (City Developments Ltd and MCL Land)|
|Jalan Tembusu||640||RCR||GLS||99-year||Tender Closing 18 Jan 2022|
|Lentor Hills Road (Parcel A)||595||OCR||GLS||99-year||Tender Closing 18 Jan 2022|
|Lentor Hills Road (Parcel B)||265||OCR||GLS||99-year||Tender Closing 18 Jan 2022|
|Former Fuji Xerox Towers||TBC||CCR||Redevelopment||Freehold||CDL (Already own Fuji Xerox Towers)|
|Evelyn Newton||25||CCR||En bloc||Freehold||Victory Land Pte Ltd|
|The Arden||80||OCR||En bloc||99-year||Qingjian Realty Pte Ltd|
|Former Bedok Point||TBC||OCR||Redevelopment||99-year||Frasers Property (Already own Bedok Point)|
|Former Flynn Park||271||RCR||En bloc||Freehold||Hoi Hup Realty and Sunway Developments|
|Former Ji Liang Gardens||18||RCR||En bloc||Freehold|
|Former Surrey Point||36||CCR||En bloc||Freehold||Amara Holdings JV|
|Former Sophia Ville & Fairhaven||TBC||CCR||En bloc||Freehold|
|Gems Ville||TBC||RCR||En bloc||Freehold||East Asia Geylang Development|
|Former 93B/ 93C/ 95 Lorong N Telok Kurau||24||RCR||En bloc||Freehold||LWH Holdings Pte Ltd/ ABR Holdings Ltd|
|Former 10A/ 10B/ 11 Institution Hill||50||CCR||En bloc||999-year leasehold||Roxy-Pacific/ Macly Group/ LWH Holdings|
A breakdown of the potential 2022 new launch condo projects
These potential new launches are generally from the government land sales (GLS) and en bloc sales over the last two years. Breaking down the numbers, 14 of these projects are GLS sites (three of them will be ECs), while nine of them are from collective sales.
Despite the pandemic and rising construction costs, we’ve been seeing robust demand for GLS sites this year, driven by the decreasing supply of unsold units.
For instance, the Ang Mo Kio Avenue 1 GLS site attracted 15 bids before the tender closed earlier in May. The main highlights of the site are that it’s within 1km of two popular schools — Ai Tong School and CHIJ St Nicholas Girls’ School — and within walking distance to the new Mayflower MRT.
Most recently, two GLS sites at one-north — Slim Barracks Rise (Parcel A) and Slim Barracks Rise (Parcel B) — received ten bids each. Both sites are also close to Buona Vista MRT and one-north MRT.
At the same time, there’s been an en bloc buzz happening this year, although not as feverish as the last cycle in 2017 and 2018. As of writing, the highest en bloc sale this year (so far) was for Flynn Park.
More 99-year leasehold condos
Given that the majority of the 2022 new launch condo sites are from the GLS launches, a high number of them will have a tenure of 99 years. According to our list, 17 of them will be leasehold, while eight of them are freehold.
The lower number of freehold projects is also because most of the projects from the 2017 and 2018 en bloc cycle have already been launched. Since the 2018 cooling measures, including raising the developer ABSD to 30% (out of which 25% is remissible), there’s been a lower number of successful en bloc sales so far.
Projects are of a smaller scale
And like what we’ve seen for the past couple of years, more of the 2022 new launch condo projects will be small and mid-sized in scale. Given the five-year deadline introduced in 2018 to complete the construction and sale of the units and the rising construction costs, developers have been less keen on taking on bigger projects.
While we won’t be seeing mega projects as huge as Normanton Park or Treasure at Tampines anytime soon, there’s still a couple of big projects to look out for in 2022. This includes the Marina View and Jalan Anak Bukit projects, which we think will launch next year.
More new launch condos in the OCR
Out of the potential new launches next year, a higher proportion of them will be located in the OCR, given the higher number of GLS sites. 11 projects in the suburbs could potentially launch next year, as opposed to eight projects in the RCR and six projects in the CCR.
This is unlike what we’ve seen this year. Around half of the projects launched so far are located in the CCR.
At the same time, this means that homeowners in the OCR will have more condo options to choose from, whether it’s for upgrading or for investment purposes.
Which of these 2022 new launch condo projects are you most interested in? Let us know in the comments section below or on our Facebook post.
If you found this article helpful, 99.co recommends URA launches three sites under the H2 2021 Government Land Sales (GLS) and Singapore’s Buyers’ and Sellers’ Stamp Duty: What you should know.
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Frequently asked questions
What is the difference between a freehold and a leasehold condo?
A freehold condo can be owned by you indefinitely. On the other hand, you can only own a leasehold condo for a specified number of years (e.g. 99 years). After that, the ownership reverts back to the state.
Which Executive Condos (ECs) are launching in 2022?
We think the Yishun Avenue 9 EC, Tengah Garden Walk EC and Tampines Street 62 (Parcel A) EC will potentially launch in 2022.
What is Government Land Sales (GLS)?
Government Land Sales is a process where the government puts up state land for sale for development. Depending on the designated use, the land can be used for hotel, commercial or private residential developments.
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