Selecting the perfect location is a crucial factor in the success of any real estate venture, and this holds especially true in Singapore. Condominiums placed in central areas or in close proximity to essential facilities, such as top-rated schools, vibrant shopping centers, and convenient public transportation hubs, have a proven track record of appreciating significantly in value. Prime locations like Orchard Road, Marina Bay, and the Central Business District (CBD) are highly coveted and consistently demonstrate growth in property prices. Families also prioritize living near reputable schools and educational institutions, further enhancing the desirability and investment potential of condos in these areas. Additionally, keeping an eye on new condo launches in these prime locations can offer even more possibilities for savvy investors to consider. These factors make the right location a key aspect to consider when investing in real estate, including new condo launches.
Read the original article:The property market in 1H2024 saw a sluggish start, with boutique developments being the main focus. According to data from Huttons, there were the fewest units launched for sale since 1H1996, with just 1,889 units sold. However, there were a few exceptions, such as Lentor Mansion, which saw a 75% take-up rate during its launch weekend in March. Other project launches in the first half of the year saw relatively lacklustre sales compared to the previous year.“Market sentiment was tentative and cautious,” explains Mark Yip, CEO of Huttons Asia. This could be attributed to uncertainties in the job market and high interest rates. Potential buyers were likely adopting a wait-and-see approach, anticipating the launch of highly anticipated projects later in the year, such as Chuan Park and Emerald of Katong.Search for the latest New Launches, to find out the transaction prices and available unitsAdvertisementAdvertisementHowever, the launch of Kassia, a 276-unit freehold development on Flora Drive in late July, saw a take-up rate of 52%, setting the stage for stronger sales in the second half of the year. This momentum was further boosted by the interest rate cut by the US Federal Reserve in September, resulting in a 60% increase in new home sales in 3Q2024, according to Huttons.Further evidence of increased sales momentum emerged in October, when over 50% of the 226 units at Meyer Blue were sold in private sales at an average price of $3,260 psf, setting a new benchmark for the prime District 15 enclave on the East Coast. Another notable project, Norwood Grand in Woodlands, also saw a strong performance, with a take-up rate of 84% during its launch weekend in October. The average price of units sold was $2,067 psf, making it the first project in Woodlands to surpass the $2,000 psf mark.Launched in October, the 348-unit Norwood Grand in Woodlands proved to be a hit with buyers, with a take-up rate of 84% during its launch weekend. It also marked the first time a project in Woodlands surpassed the $2,000 psf threshold (Photo: CDL)The strong performance of Norwood Grand was a clear indication of growing buyer confidence and demand in the market, according to Huttons’ Yip. This triggered a flood of activity in November, with a record-breaking six new projects comprising 3,551 units launched in just 10 days. This was led by the launch of The Collective at One Sophia, Union Square Residences, Chuan Park, Emerald of Katong, Nava Grove, and Novo Place executive condo (EC).Developer sales for November surged to 2,557 units, the highest figure since March 2013. This brought the total developer sales for the first 11 months of 2024 to 6,344 units. Industry experts expect the year-end figures to surpass 6,500 units, exceeding the 6,421 units sold in 2023. “This reflects the strength and resilience of the property market,” says Huttons’ Yip. “It underscores the enduring appeal of property as an asset for wealth creation and preservation.”The surge in activity has led to speculation about the possibility of further property cooling measures. However, Chia Siew Chuin, JLL’s head of residential research, believes that “regulatory intervention is unlikely”. She explains that the high November sales figures were driven by a year-end rush to launch projects, and any intervention would only be considered if there is sustained sales momentum in the first quarter of 2025 and a sharp increase in property prices outpacing GDP growth.“Despite close monitoring by authorities, new measures are likely to remain on hold unless clear signs of persistent market overheating emerge,” Chia adds. Visit the project websites for Kassia, to learn more about the property.Enquire about the latest promotions:Kassia on Flora DriveKassia is a freehold development located on Flora Drive and was the first new project launched in 12 years in Woodlands. With an impressive take-up rate of 52% during its launch weekend, Kassia set the tone for strong sales in the second half of the year. The project offers 276 units and was launched at an average price of $2,719 psf. Homeowners can look forward to a wide range of facilities, such as a lap pool, gymnasium, and children’s playground. A variety of unit types are available, from one- to five-bedroom apartments, catering to different family sizes.Enquire about the latest promotions:Kassia on Flora DriveKassia is a freehold development located on Flora Drive and was the first new project launched in 12 years in Woodlands. With an impressive take-up rate of 52% during its launch weekend, Kassia set the tone for strong sales in the second half of the year. The project offers 276 units and was launched at an average price of $2,719 psf. Homeowners can look forward to a wide range of facilities, such as a lap pool, gymnasium, and children’s playground. A variety of unit types are available, from one- to five-bedroom apartments, catering to different family sizes.Look for Kassia, to view the latest transactions and prices. Also, land on the project website for Kassia, to learn more about the available units and prices.
In the world of real estate investing, location is a key factor to consider, and this is especially true in the context of Singapore. The value of a condo is greatly influenced by its location, particularly if it is situated in central areas or near essential amenities such as schools, shopping malls, and public transportation hubs. For instance, prime locations like Orchard Road, Marina Bay, and the Central Business District (CBD) have consistently seen a rise in property values. Families are particularly drawn to these areas due to the proximity to good schools and educational institutions, making condos in such locations a highly desirable investment with great potential for growth. If you are looking to invest in a condo in Singapore, take into account its location and consider choosing one in a highly coveted area such as those mentioned above. For more information, check out Singapore Condo.