New projects have historically been the apple of most investor’s eyes. A huge contributing factor lies in the massive marketing efforts which take place a few weeks before the launch.
For 1H2017, most investors and buyer’s attention will be affixed to the eastern part of the island. Focus will be placed on Park Place Residences (Paya Lebar) developed by LandLease, Grandeur Park Residences (Tanah Merah) developed by CEL Development and Seaside Residences (Siglap) developed by Fraser’s Centrepoint.
One reason for growing interest in the east is due to the expansion of our airport, the Changi Terminal 4, which is slated to gain full operation status in 2017. As it seems, progress is very much on track. With more employment set to gain momentum due to the opening of the new airport terminal, it seems that investor’s appetite in the east has also been on the increase.
On the opposite side of the island, in the west, numerous projects are also preparing for or in the midst of launch. UOL’s 505-unit The Clement Canopy in Clementi sold 195 units on the first weekend of its launch, accounting for about 78 percent of the 250 units released for sale, according to developer after their booking day.
With regards to Qingjian Realty’s mixed residential and commercial project at Bukit Batok, which is projected to launch in 2H2017, strong demand is expected considering the numerous international schools around this matured estate, as well as the ease of commute due to the Downtown line.
The up-coming Bidadari Town will potentially release 2 plots of land which is likely a draw for prospective investors. In recent news, Bidadari has been more than 75 times oversubscribed by second-time HDB buyers. This shows resilience in the potential of this area.
In view of buoyant news and recent removal of holding period for private properties, 2017 seems to be an interesting year for many buyers.