With the inventory of unsold private housing dipped to an almost four-year low, there is an expectation of a slide in 2022 for the number of new project launches as there is much calibrated moderation of land supply from the Government Land Sales (GLS) Program over the past two years so as to keep pace with the uncertainty in the outlook of the economy. The private resale home prices is expected to may climb by 6%–9% in 2022, following an increase of about 6%–7% this year.
About 30 new condo launch ready projects in 2022 will be introduced into the private new home sales market which translate to a fall from the 50 projects that were launched this year.
Notable projects in the pipeline are the redevelopment of AXA Tower into ba new mixed-use development and together the redevelopment of the former Maxwell House, and in addition is the Marina View white site by IOI Properties Group.
An upcoming Executive Condo project at Tampines Street 62 is anther residential projects that may launch next year with two more leasehold sites at Lentor Central by GuocoLand, and a private housing site at Ang Mo Kio Avenue 1. This Ang Mo Kio Avenue 1 site will be jointly by a joint venture of UOL Group, Singapore Land, and Kheng Leong Company.
2021 will end with expectation that the HDB resale market will end on a high note with the full year sales figure poised to exceed the actual transaction numbers recorded of 24,748 units in 2020.
The Arden by Qingjin, The Arden location in D23, The Arden price – to sell
CDL to develop Piccadilly Grand, Piccadilly Grand location in cityfringe
Sceneca Residence in Tanah Merah by MCC, Sceneca Residence location mins to MRT
