Developer sales fell by 47.6% in August 2022, as 437 new units excluding executive condominiums (EC) were sold last month. Year-on-year, new home sales dropped by 64.1%.
Given the Hungry Ghost Month, developers have held back new launches, with only 134 units launched for sale.
According to data released by URA on Thursday 15 September, a majority of the new homes sold in the month were from the CCR, with 220 units (50.3%). Meanwhile, 127 units (29.1%) were sold in the RCR, and 90 units (20.6%) were sold in the OCR.
The best-selling projects in the month were:
Hyll on Holland
Riviere
Perfect Ten
The Hyde
Leedon Green
The Gazania
One Pearl Bank
Tricia Song, Head of Research, Southeast Asia at CBRE, said, “Including the 4,222 new homes sold in H1 2022, preliminary new developer sales (excluding ECs) year-to-August now stand at 5,493 units, 40.8% below the 9,277 units sold over the same period last year.”
Narrowing price gap between CCR, RCR and OCR
Lee Sze Teck, Senior Director (Research) at Huttons Asia, pointed out that last month marked the first time since October 2017 that CCR sales exceeded 50% of monthly sales. A possible explanation could be the narrowing price gap between CCR and RCR homes.
“Buyers are shifting their focus to the CCR as the median price per sq ft between the CCR and RCR has narrowed to 14.9% in August 2022 compared to 41.6% in January 2022,” Lee added.
Source: URA, Huttons Research
Song added that nine of the 10 top-performing projects last month came from the CCR and RCR, which could indicate that buyers are seeing the value in these two segments. This is as the price gap narrows against recent OCR launches, which have crossed the S$2,000 psf threshold.
Increasing purchases by foreigners
The data also revealed that 59 new homes were bought by foreigners last month, up from 42 units in July.
Experts have pointed out that the proportion of foreign purchases of new homes has shot up to 13.3%, with Lee adding that it is the highest since March 2016.
In comparison, the proportion was 5.1% in July.
Source: URA, Huttons Research as of 15 September 2022
Christine Sun, Senior Vice President of Research & Analytics at OrangeTee & Tie, said, “Year-on-year, the proportion of foreign purchases increased by 9.8 percentage points from 3.6% (40 units) in August 2021.”
As expected, the new homes bought by foreigners were mainly located in the CCR.
New launches with the highest number of purchases by foreigners include The Hyde with eight units, while Haus on Handy, Hyll on Holland, Midtown Modern, Perfect Ten and Riviere each saw four units sold.
Largest proportion of new homes sold was between S$1.5m – S$2m
According to Song, the largest proportion of new private home sales remained in the S$1.5 million to S$2 million range, at 36.0% of the month’s transaction volume. This was followed by the S$3 million to S$5 million price bracket at 20.3%.
Source: URA, CBRE Research
Outlook
Experts expect new home sales in September to rebound as major projects such as Sky Eden@Bedok and Lentor Modern are launched this month. Sky Eden@Bedok saw 75% of its units sold on the first day at an average price of S$2,100 psf.
“Even at higher price points, units are being snapped up in these two projects. Their successful launches testify that affordability is not an issue for some buyers and people are willing to pay for projects with good locations and attractive product attributes,” Sun added.
Upcoming launches in October include Gems Ville, K Suites, Mattar Residences and Sophia Regency.
Two new ECs, Copen Grand (the first EC in Tengah) and Tenet, are also expected to launch by the end of this year.
Experts estimate that around 9,000 new homes will be sold this year, with Huttons predicting a price increase of up to 8%.
Song, however, believes the price growth will moderate in the second half of the year as interest rates rise and macroeconomic headwinds could crimp affordability, especially for over-leveraged buyers.
“Barring a severe global economic downturn, CBRE Research expects private home prices to increase by 5% for the full year 2022.”
New launch condos for sale
See all listings
The Gazania
5 How Sun Dr · D19
4
3
1,851 sqft
$3,105,000
The Gazania
5 How Sun Dr · D19
2
1
635 sqft
$1,430,000
The Gazania
5 How Sun Dr · D19
3
2
1,055 sqft
$2,150,000
The Gazania
19 How Sun Dr · D19
3
2
915 sqft
$2,120,000
Haus on Handy
30 Handy Rd · D9
2
1
689 sqft
$1,810,000
Haus on Handy
28 Handy Rd · D9
2
1
614 sqft
$1,659,000
Haus on Handy
30 Handy Rd · D9
3
2
980 sqft
$2,718,000
Haus on Handy
28 Handy Rd · D9
3
2
947 sqft
$2,599,000
Piccadilly Grand / Piccadilly Galleria
5 Northumberland Rd · D8
3
3
1,076 sqft
$2,358,000
Lentor Modern
Lentor Ctrl · D26
1
1
431 sqft
$980,000
Would you be buying a new launch condo this year? Let us know in the comments section below.
If you found this article helpful, 99.co recommends Will Lentor Modern sell out on day 1? and 3 bids for Lentor Central, 2 for Lentor Hills Road (Parcel B) and 4 for Bukit Batok West Avenue 5 (EC) GLS sites.
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Noticing fewer viewings or slower offers? You’re not alone. The HDB resale market is shifting, and many sellers are wondering what it means for their plans. A cooled market doesn’t mean you can’t sell — it just means you need the right strategy. In FREE this session, we’ll explain what’s causing the slowdown and how…
Qingjian Realty and Forsea Holdings to Preview Coastal Cabana from 6 December; First Executive Condominium in Pasir Ris in Over a Decade
748-unit seafront executive condominium featuring resort-inspired living and spacious layouts thoughtfully designed for families
Prices to start from S$1,639 psf, with a mix of 3- to 5-bedroom units ranging from 872 sq ft to 1,421 sq ft
Next to Downtown East and surrounded by a full suite of family-friendly amenities, schools, and parks
Preview and e-application from 6 to 21 December 2025
SINGAPORE, 18 November 2025 – Qingjian Realty, Forsea Holdings, ZACD Group and Jianan Capital are set to preview the highly anticipated Coastal Cabana Executive Condominium (EC) from Saturday, 6 December 2025. Located along Jalan Loyang Besar in Pasir Ris, the 748-unit coastal development enjoys a coveted position within walking distance to Pasir MRT and next to Downtown East, with select units offering panoramic sea views. Designed as a serene retreat within a vibrant neighbourhood, Coastal Cabana offers families the quiet luxury of generous living spaces, thoughtfully curated facilities, and seamless access to the estate’s recreational offerings.
Mr Du Dexiang, Managing Director of Qingjian Realty said, “Coastal Cabana is a much-needed addition for upgraders and aspiring homeowners who appreciate the vibrancy and convenience of this well-developed mature estate. At Qingjian, our focus has always been on building quality homes with enduring appeal that meet the needs of buyers. That commitment is reflected in what we have created at Coastal Cabana. With the uncertain future supply of EC developments in Pasir Ris over the next few years, this project is well-positioned to capture strong pent-up demand in the area.”
Mr Wang Xin, Director at Forsea Holdings added, “Coastal Cabana reflects our shared vision with Qingjian Realty of creating homes that combine thoughtful design with enduring quality. From its architectural composition to the landscaping and arrival experience, every detail has been planned to harmonise with Pasir Ris’ coastal character while providing residents with a sense of space and calm.”
The development comprises 16 residential blocks of 11 and 12 storeys, offering a mix of three- to five-bedroom units ranging from 872 sq ft to 1,421 sq ft. It provides a total of 748 car park lots and is expected to achieve vacant possession by 31 March 2029.
A Well-Connected Coastal Home in the Heart of Pasir Ris
Located in one of Singapore’s most family-friendly neighbourhoods, Coastal Cabana offers residents the rare combination of coastal tranquillity and urban convenience. The neighbourhood’s abundant green spaces and family-friendly amenities have made it one of the East’s most desirable places to call home.
Situated next to Downtown East and just minutes from Pasir Ris Park and Pasir Ris MRT, the development enjoys close proximity to a full suite of shopping, dining, and recreational options.
In the coming years, the existing Pasir Ris MRT station will serve as an interchange connecting the existing East West Line (EWL) and the upcoming Cross Island Line (CRL) – offering residents island-wide connectivity and shorter travel times to key destinations and employment hubs.
Residents will also benefit from excellent road connectivity, with the Tampines Expressway (TPE) and Pan Island Expressway (PIE) offering easy access to the rest of the island.
An Evolving Neighbourhood That Offers Something for Everyone
As part of the ongoing rejuvenation of Pasir Ris, the Urban Redevelopment Authority’s (URA) Draft Master Plan 2025 will introduce new residential, commercial, and recreationalenhancements to Pasir Ris, further strengthening the estate’s appeal and bringing greater convenience, vibrancy, and long-term value to the neighbourhood.
Set within this evolving and self-contained estate, residents will already enjoy a wealth of amenities – from seaside leisure and nature parks, to lifestyle, shopping, dining, entertainment options, as well as reputable schools.
For those with school-going children, a strong network of educational institutions can be found nearby, including Casuarina Primary School and Pasir Ris Primary School within 1km of the development. Other nearby institutions include Elias Park Primary School, Hai Sing Catholic School, Meridian Primary School, Meridian Secondary School, Singapore Institute of Technology, and the Singapore University of Technology and Design.
Homes Designed for Every Generation
Set against the Pasir Ris coastline, Coastal Cabana is envisioned as a modern coastal sanctuary where families can enjoy generous spaces, sea views, and seamless connectivity.
Thoughtfully conceived as a rare coastal sanctuary with stunning sea views, Coastal Cabana is designed for comfort, connection, and convenience. The development pairs functional layouts with luxury resort-inspired facilities – offering residents the tranquillity of coastal living and the energy of a vibrant, well-established community.
The mix of three- to five-bedroom units cater to the evolving needs of families at every stage of life – from young couples starting out to multi-generational households seeking space, comfort and togetherness. All unit types are north-south facing and feature naturally ventilated kitchens and bathrooms, with selected layouts offering flexible spaces for use such as study or flexi areas that can be adapted to suit different lifestyle needs.
Homeowners can also expect quality interior finishes with kitchen appliances from Bosch and bathroom fittings from Hansgrohe.
A Space for Connection, Framed by Nature
Beyond their homes, residents can also look forward to over 65 family-oriented amenities, including a two-storey clubhouse, four swimming pools, and a sky terrace that offers sweeping sea views.
Coastal Cabana’s expansive clubhouse is envisioned as the heart of the development’s activity, providing residents with a multitude of options for connection, play, and relaxation.
The two-storey clubhouse is one of the most striking features of the development. Designed as an expansive social and recreational zone, it offers spaces for every member of the family – including four function rooms, a karaoke room, a music room, kids club, yoga studio, and a fully equipped gym. Beyond the clubhouse are other facilities including a tennis court, BBQ pavilions, outdoor fitness park, and adventure park for children.
Coastal Cabana’s collection of swimming pools are thoughtfully designed to suit different lifestyles, from family recreation to wellness and lap swimming.
The development’s collection of four swimming pools has been thoughtfully curated to cater to different lifestyles and generations – from the 50-metre Grand Pool and Lifestyle pool for serious swimmers, to the Family Pool designed for parents and young children, and the Wellness pool with spa facilities and aqua gym for leisure and relaxation. This deliberate separation of spaces allows residents to enjoy both tranquillity and connection, echoing the development’s vision of harmonious living.
Complementing the range of facilities, the development is also distinguished by its landscaping and architectural concept, which draws inspiration from tranquil European gardens – reflected in its symmetry, manicured hedgerows, and elegant vertical features that frame the facades.
The Grand Boulevard forms the centrepiece of Coastal Cabana’s arrival experience, leading residents and guests through a resort-inspired sequence from the drop-off area to the main lobby.
The experience begins with each arrival home. The Grand Boulevard forms the heart of Coastal Cabana’s arrival experience – framing a resort-inspired flow that begins at the Grand Boulevard Lobby – an elegant drop-off area – and the adjacent Boulevard Lounge which serves as a grand welcome for guest entering the development. Upon entering the grounds, residents are greeted by a long reflective water corridor that creates a serene visual transition from the lively surroundings into a calm, contemplative space within the development.
The long reflective water corridor lined with manicured hedgerows creates a serene visual transition from the development’s lively surroundings into its calm, landscaped interior.
The common areas are thoughtfully arranged around lush, manicured courtyards framed by tall landscaped walls and hedgerows, evoking a sense of peace, privacy, and timeless elegance. Expansive green lawns and open play areas create welcoming spaces for children to play and for families to gather, encouraging outdoor recreation and community connection. Together, these elements create an environment that feels both tranquil and alive – a crafted sanctuary that changes in mood and scenery as one moves through it.
Preview and Launch Details
Previews and e-applications will commence from 6 to 21 December 2025. Prices will range from S$1.438 million (S$1,649 psf) for a 872 sq ft three-bedder, and S$1.623 million (S$1,639 psf) for a 990 sq ft four-bedder.
E-applications for first-and second-time applicants will be balloted by HDB. The results of the balloting will be made known by 13 January 2026 and applicants with a ballot queue number will be given an appointment date and time to book their units.
Sales launch will commence on 17 January 2026.
The sales gallery is located along Eunos Avenue 3.
October 2025 emerged as a standout month for Singapore’s new private home market, delivering one of the strongest sales performances seen this year. Developers moved 2,424 units (excluding ECs), marking a sharp rebound from September’s quieter showing and reinforcing the solid momentum already established in August. The surge was driven by a rare combination of…
