If you’re looking to rightsize your property or a homebuyer looking for your dream home, you might be considering The Reserve Residences. While 2022 saw less than 20 new launches, it’s expected that 2023 will have around 40 new launches. 

For those looking for a unique home that offers a nature-centric lifestyle, The Reserve Residences site plan is the place to be. The apartment homes come with spacious floor plans and carpeted floors, featuring a wood-burning fireplace, a balcony or patio, and an all-electric kitchen.

We’ve compiled a list of new launch projects that will be launching in Q1 of 2023. For homeowners who plan to sell their current property and move to a new launch, this list is perfect for you. 

Sceneca Residence (District 16)

Sceneca Residence is the latest mixed-use development in the east and will be directly connected to Tanah Merah MRT station. The project will have 268 residential units comprising 1 to 4-bedroom apartments (including penthouses) and 19 commercial units. 

The project’s developers, MCC Singapore, Ekovest Development and The Place Holdings, had won the tender for the government land sales (GLS) site at Tanah Merah Kechil Link for $248.99 million ($930 psf per plot ratio).

Future residents will be able to enjoy the convenience of having a 1,000 sqm supermarket and another 1,000 sqm of retail and F&B outlets. 

Expected TOP date: 2027 

Nearest MRT: Tanah Merah (East-West line)

Primary schools within 1km: St. Anthony’s Canossian, Bedok Green Primary, Temasek Primary (only certain blocks)

Average prices of new launches in District 16

There have been only a few new launches in District 16 recently. From 2018-2022, the average prices were around S$1500+ psf. However, the most recent new launch, Sky Eden@Bedok, was transacted at an average of S$2,112 psf. 

As Sky Eden@Bedok is also a mixed-use development, we expect Sceneca Residence to have around the same price range. At the same time, Sceneca Residence is also linked to an MRT station, which has an added advantage and is most likely to come at a higher premium. 

Resale condo units in District 16

If you’re currently living in District 16 and planning to rightsize your home, you might wonder if it’s good to buy a unit at Sceneca Residence.

Here are the average prices of resale condo units in District 16.

3-bedroom	S$1,610,336
4-bedroom	S$2,249,913
5-bedroom	S$3,058,250 (less than 10 transactions)

The official prices for Sceneca Residence haven’t been released, so we’ll take Sky Eden@Bedok’s average prices as a reference (displayed in the table below).

2-bedroom	S$1,514,828
3-bedroom	S$2,042,464
4-bedroom	S$2,829,400

(Note: Prices will vary according to the size and floor of the unit)

Hence, if you’re looking to downsize to a new condo with one less bedroom (ie. 3-bedroom to 2-bedroom), you should be able to afford it comfortably.

 

Resale HDB flats in District 16

For those planning to upgrade from an HDB to a condo, here are the average prices of resale HDBs in District 16.

3-room	S$360,000
4-room	S$506,044
5-room	S$652,406
Executive	S$841,114

Of course, whether or not you can afford a new condo will depend on your monthly household income and how much CPF savings and cash you have on hand.

Based on the new launch prices of Sky Eden@Bedok stated above, you’ll need a monthly income of over S$17,000 to afford at least a 2-bedroom unit (assuming you’re taking the full 75% financing to maximise the LTV ratio).

Properties in District 16

The Botany at Dairy Farm (District 23)

If you like living near nature, The Botany at Dairy Farm is a suitable option as it’s located near Dairy Farm Nature Park and Bukit Timah Nature Reserve. Its developer, Sim Lian Group, had won the GLS tender for the Dairy Farm Walk site for S$347 million (S$980 psf per plot ratio).

The new launch condo will have 386 units comprising 1 to 5-bedroom apartments. What’s great is that most units will potentially be able to enjoy unblocked views of the surrounding private landed estate and the nature reserves.

Expected TOP date: TBA

Nearest MRT: Hillview (Downtown line)

Primary schools within 1km: CHIJ Our Lady Queen of Peace, Bukit Panjang Primary 

Average prices of new launches in District 23

In 2022, the average price of new launches in District 23 was around S$1,672 psf. Dairy Farm Residences and Midwood are the nearest new launch projects to The Botany at Dairy Farm. Both projects are already fully sold.

As both projects launched in 2019, it’s no surprise that The Botany at Dairy Farm’s average prices will be higher. From 2019 to 2022, average prices of new launch condos across Singapore increased by 27.69%.

Recent new launches in the OCR, like Lentor Modern and AMO Residence, have surpassed S$2,000 psf. However, The Botany at Dairy Farm had a lower land price of S$980 psf ppr than Lentor Modern’s S$1,204 psf ppr and AMO Residence’s S$1,118 psf ppr. Hence, there is be a possibility that The Botany at Dairy Farm’s average prices would be lower.

Resale condo units in District 23

If you’re currently living in District 23 and planning to rightsize your home, we’ve compiled the district’s average prices of resale condo units in the past year.

3-bedroom	S$1,399,098
4-bedroom	S$1,808,159
5-bedroom	S$660,000 (only 1 transaction)

As the official prices for The Botany at Dairy Farm haven’t been released, we’ll take the average transaction prices of recent new launches in District 23 as a benchmark (as displayed in the table below).

2-bedroom	S$1,247,546
3-bedroom	S$1,664,754

(Note: Prices will vary according to the size and floor of the unit)

Hence, the new transaction prices for 2 and 3-bedroom units in District 23 are within an affordable range if you’re planning to sell your 3 or 4-bedroom unit in the same district.

SELLING YOUR PROPERTY? Would you like to know how much your property is worth? Or maybe you’re considering listing your property for sale? Let us know, and we’ll have a consultant reach out to you!

Resale HDB flats in District 23

For potential upgraders from HDB, here are the average prices of resale HDB flats in District 23.

3-room	S$372,340
4-room	S$497,583
5-room	S$605,662
Executive	S$734,556

You can use 99.co’s mortgage calculator and affordability calculator to see which unit type is within your budget. You’ll most likely have to top up a significant amount for the downpayment.

Also, your monthly household income will need to be over S$14,000 for you to be able to afford at least a 2-bedroom unit. This is assuming you’re taking the full 75% financing to maximise the LTV ratio.

Properties in District 23

Terra Hill (District 5)

Terra Hill is perfect for those looking for a home in a city-fringe location. It’s also located near offices in one-north, Mapletree Business City and Science Park, as well as the upcoming Greater Southern Waterfront.

The freehold project is a redevelopment of the former Flynn Park, which sold for S$371 million in 2021. It will have 270 units of 2 to 5-bedroom apartments.

One of Terra Hill’s unique highlights is that it’s located on a hilltop, with potential sea views and access to the greenery at Kent Ridge Park.

Expected TOP date: 2026

Nearest MRT: Pasir Panjang (Circle line)

Primary schools within 1-2km: Blangah Rise Primary

Average prices of new launches in District 5

The average price of new launches in District 5 in 2022 is S$1,835 psf. The area has seen a number of new launches in recent years, like Kent Ridge Hill Residences, Normanton Park and One-North Eden.

With its land price of S$1,318 psf ppr, freehold status and city-fringe location, it’s most likely that Terra Hill’s average price will be more than S$2,000 psf. Currently, the average price of freehold new launch transactions in the RCR (Rest of Central Region) is S$2,286 psf.

Resale condo units in District 5

For those currently living in District 5 and are planning to rightsize their home, here are the average prices of resale condos in the area.

3-bedroom	S$1,803,035
4-bedroom	S$2,272,843
5-bedroom	S$3,883,333 (only 3 transactions)

Let’s look at the average prices of new sale transactions in District 5:

2-bedroom	S$1,385,071
3-bedroom	S$1,874,738
4-bedroom	S$2,475,843

(Note: Prices will vary according to the size and floor of the unit)

Hence, it seems there will be enough for home sellers to rightsize their homes and still earn some profit if they purchase a new launch like Terra Hill.

Resale HDB flats in District 5

If you’re living in an HDB in District 5 and are looking to sell your property to move to a new launch, here are the average prices of resale HDB flats in the area.

3-room	S$418,847
4-room	S$661,890
5-room	S$836,504
Executive	S$923,938

Based on the new launch prices stated above, your monthly household income will need to be over S$15,500 for you to be able to afford at least a 2-bedroom unit (assuming you’re taking the full 75% financing to maximise the LTV ratio). Use 99.co’s mortgage calculator and affordability calculator to see which condo unit type is within your budget.

Properties in District 5

Lentor Hills Residences (District 26)

Lentor Hills Residences is the second of 7 new condo sites to be launched in the Lentor estate. Developed by GuocoLand, Intrepid Investments and TID Residential, the project is expected to have 595 units.

Residents living in Lentor can enjoy the convenience of the Thomson-East Coast line, which brings commuters to Orchard in 18 minutes and the CBD in 25 minutes. What’s more, the upcoming mixed-use development Lentor Modern nearby will have around 50 shops, including restaurants and cafes, as well as a supermarket and childcare centre.

Expected TOP date: TBA

Nearest MRT: Lentor (Thomson-East Coast line)

Primary schools within 1km: Anderson Primary, CHIJ St. Nicholas Girls’ School (Primary) 

Average prices of new launches in District 26

Before 2022, the average prices of new launch transactions in District 26 were around S$1,300+ psf. But that changed in 2022 with the launch of Lentor Modern, which has an average price of S$2,125 psf.

Lentor Modern’s average prices are unsurprising as it is an integrated mixed-use development linked to Lentor MRT station. Furthermore, the Thomson-East Coast line is a major factor in reducing travel time to the city.

As Lentor Hills Residences is located about a 3-minute walk from Lentor Modern and Lentor MRT station, residents will also get to enjoy the same convenience as Lentor Modern. Hence, we foresee that the average prices will match Lentor Modern.

Resale condo units in District 26

If you’re currently living in a condo in District 26 and planning to rightsize your home, we’ve rounded up the average prices of resale condos.

3-bedroom	S$1,529,802
4-bedroom	S$2,008,000
5-bedroom	No transactions in the past year

As Lentor Modern is the only new launch condo in recent years, we’ll take its average prices as the benchmark for new launch condos in the area (displayed in the table below).

2-bedroom	S$1,562,466
3-bedroom	S$2,118,877

(Note: Prices will vary according to the size and floor of the unit)

As you can see, the average prices of Lentor Modern are at a higher premium than the average resale prices of condos in District 26. Although you might not get much in terms of cash proceeds, you’ll enjoy the convenience of Lentor MRT station and amenities at Lentor Modern if you choose to move to a condo in Lentor.

Resale HDB flats in Ang Mo Kio and Yishun

As there are no HDB projects in District 26, we’ll look at the average prices of resale HDB flats in neighbouring estates – Ang Mo Kio and Yishun.

	Ang Mo Kio	Yishun
3-room	S$377,360	S$372,741
4-room	S$589,249	S$469,586
5-room	S$811,899	S$608,623
Executive	S$941,500	S$781,167

Based on the new launch prices in Lentor stated above, your monthly household income will need to be over S$17,500 for you to be able to afford at least a 2-bedroom unit (assuming you’re taking the full 75% financing to maximise the LTV ratio). Use 99.co’s mortgage calculator and affordability calculator to see which condo unit type is within your budget.

Properties in District 26

Other new launch condos to look out for in 2023

If the new launches in 2023 Q1 are not suitable for you, here are other projects launching later in the year:

• Grand Dunman (District 15)
• Tembusu Grand (District 15)
• The Continuum (District 15)
• The Reserve Residences (District 21)
• The Arden (District 23)

As more information about 2023’s new launch condos comes up, we’ll be sure to update you.

Are you planning to sell your house and move to a new launch condo? Let us know in the comments section below.

If you found this article helpful, 99.co recommends GLS H1 2023: New condo sites to look forward to and consider upgrading to and Up-and-coming estates in Singapore for future property investments.