2024 Residential Property Market Outlook
Market Outlook Much of the uncertainties that raised caution in the market in 2023 are expected to persist into 2024,...
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Having a MRT station nearby can be a huge advantage for both homeowners and landlords. With fewer property launches expected in 2023 and high COE rates, it’s important to be more selective when searching for the perfect home.
So why not consider a place within walking distance of a train station?
Here are some of the potential launches this year to get you started:
1. Sceneca Residence (Recently Launched)
Location : Tanah Merah Kechil Link (District 16)
Developer : MCC Land
Lease : 99-years
TOP Year : 2027
Nearest MRT : Tanah Merah (East West Line)
Number of Units : 268
Notable details:
Sceneca Residence has proven to be one of the most sought-after launches in the first half of 2023, selling an impressive 60% of its 268 units. All one-bedroom units have been snatched up, leaving only a single two-bedroom + study unit still available. As of the time of writing, a total of 160 units have been sold!
Similar to The Poiz, Sceneca Residence is introducing much-needed amenities to the Tanah Merah area, including a supermarket and a floor of commercial shops.
With its close proximity to the Tanah Merah station and its connection to Changi Airport and the Singapore Expo, this property is an ideal investment opportunity for those looking to rent to airline personnel and airport staff.
The downside to Sceneca Residence is that it is encircled by many older, more cost-effective condos, which may be unfavorable to some investors. Furthermore, those who prefer a tranquil and low-density area may be put off, since traffic and development is considerable in the region.
2. Terra Hill
Location : Yew Siang Road (District 5)
Developer : Hoi Hup Realty/Sunway Developments
Lease : Freehold
TOP Year : 2026
Nearest MRT : Pasir Panjang MRT (Circle Line)
Number of Units : 270
Notable details:
Just a short five- to six-minute walk from Pasir Panjang MRT, Terra Hill is a great place to be for those who are into low-density living.
You’ll find mostly older landed homes and small boutique condos around Yew Siang Road. Plus, Kent Ridge Park is nearby, with its canopy walks and historical sites like Bukit Chandu—perfect for nature and history buffs who like going on hikes.
For shopping enthusiasts, Pasir Panjang MRT is the place to be! Located just three stops away from Harbour Front and four stops away from Buona Vista, you’ll find major malls such as Vivocity nearby.
And, if shopping isn’t your thing, you can always visit Pasir Panjang Food Centre, or just a short stroll away, a coffeeshop with plenty of food options. All in all, Pasir Panjang is the perfect destination for a fun and relaxed day out!
Living in this family-friendly neighborhood may be great, but the lack of nearby schools is a bit of a letdown. Investors, however, can still benefit from the bustling tech and media hub of One-North, although the more recently established One-North Eden is closer to the center and could prove to be a more desirable option for tenants.
3. Blossoms by the Park
Location : Slim Barracks Rise (District 5)
Developer : Hoi Hup Realty/Sunway Developments
Lease : 99-years
TOP Year : 2026
Nearest MRT : Buona Vista MRT (East West Line, Circle Line)
Number of Units : 275
Notable details:
The launch is already gaining a lot of attention as “the one near NTU One-North” and “the one near ACJC”. The highlights are clear: it’s right across the road from NTU One-North and within a five to seven minute walk from Anglo Chinese Junior College, Fairfield Primary and Secondary School, Anglo-Chinese School (Independent) and ESSEC Business School. Take a stroll down Slim Barracks to One-North Gateway Road and you’re almost there!
Strolling along the park, one can reach The Star Vista: a massive mall located close to the Buona Vista MRT station that fulfils the shopping and dining needs of the locals.
Moreover, there is Rochester Mall, which has many eateries (not to mention tuition centres), as well as Rochester Commons boasting even more dining options.
This project is located near One-North business hub, making it ideal for landlords to serve a wide range of customers: ESSEC students, locals, and the foreign workers at Fusionopolis, Biopolis, Mediapolis, etc.
For those who missed out on purchasing a unit at One-North Eden, this project provides a second chance! Comparable in accessibility and convenience to the 165-unit complex, it’s sure to be a tempting alternative for prospective buyers.
4. Lentor Hills Residences
Location : Lentor Hills Road (District 26)
Developer : GuocoLand/Leong Holdings/ TID
Lease : 99-years
TOP Year : 2026
Nearest MRT : Lentor MRT (Thomson East Coast Line)
Number of Units : 595
Notable details:
The highly anticipated Lentor Hills Residences will make its debut in 2023, located just next to Lentor Modern – an integrated development which links directly to the Lentor MRT station.
Benefiting from its close proximity, this new residential estate will share the advantages of its neighbour, albeit without the immediate amenities. However, don’t worry – Lentor Modern will soon be home to a variety of shops, eateries, and possibly even a childcare centre or early-childhood school.
Two standout factors make this area an attractive place for families.
Firstly, it remains in a low-density region, with neighbouring districts such as Florissa Park being mostly composed of landed housing. This, along with the URA’s goal to make it more pedestrian-friendly, makes it a great place to live.
Secondly, despite Lentor Modern appearing as a prominent rival, there are still not many condominiums in the area. Prior to Lentor Modern, Calrose was one of the few nearby condos, so buyers can consider themselves to be on the cusp of the region’s revival.
Buyers can expect to find a close comparison between Lentor Modern and other offerings, with the buying decision ultimately depending on preferences for facilities, layout, and finishing – details of which are yet to be released.
It’s worth noting that Lentor Hills Residences and Lentor Modern are both developed by the same company, offering some assurance of price protection for those who bought earlier.
5. Tembusu Grand
Location : Jalan Tembusu (District 15)
Developer : City Developments Limited
Lease : 99-years
TOP Year : 2027
Nearest MRT : Tanjong Katong MRT (Thomson East Coast Line), due for completion this year
Number of Units : 638
Notable details:
It’s a stretch from the MRT station, but it’s not too bad; about 10 minutes or so on foot. Whether you’d call it close or not, that’s subjective. But compared to the situation before the Thomson East Coast line was introduced, public transport access has definitely improved.
Despite being situated in a low-density neighbourhood, Jalan Tembusu evokes the tranquil atmosphere characteristic of District 15. Although limited amenities are available in the vicinity, a six-minute drive will bring you to East Coast Road’s bustling hub of activity. There you will find i12 Katong, and a diverse selection of eateries ranging from high-end to affordable. This area is also known for its array of enrichment schools for children.
Living in close proximity to Tanjong Katong Road, you’ll find many delectable local eateries such as Punggol Nasi Lemak, Heng Long Teochew Porridge, and ENG’s Wantan Noodles just steps away. What’s more, prestigious schools like Tanjong Katong Girls’, Haig Girls’, and Chung Cheng High School are all within a one-kilometre Home-School Distance, so you can practically walk to TKGS in four to six minutes!
Due to the high number of boutique condos in the Katong area that already provide for the expat crowd, aspiring landlords should proceed with caution as there is an abundance of competition.
Nevertheless, Tembusu Grand offers larger facilities that may provide an advantage to buyers looking to make comparisons to Grand Dunman.
6. Grand Dunman
Location: Dunman Road (District 15)
Developer: Sing HaiYi
Lease: 99-years
TOP: 2027
Nearest MRT: Dakota MRT (CC)
Number of units: 1,035
Notable details:
Grand Dunman has emerged as one of the biggest launches of 2023, boasting a whopping 1,035 units spanning an incredible 271,616 sq. ft. – leaving plenty of space for amenities, and lower costs for upkeep!
When all the specifics are released, we’ll update you. A jaw-dropping $1.284 billion was paid for this GLS plot, with just one other bid from a consortium of CDL and a few other developers.
Strategically situated in District 15, Grand Dunman and Tembusu Grand offer something for everyone! Whether you are a food enthusiast who likes to traverse the Old Airport Road stretch, or someone who wants to take a leisurely walk along Tanjong Katong Road, you can enjoy all the deliciousness that District 15 has to offer!
From the Dakota MRT station, it’ll take you about seven to nine minutes on foot to access the Old Airport Road, and just a few minutes to get to Tanjong Katong Road. Enjoy!
Dunman Grand provides a tranquil respite from the hustle and bustle of Paya Lebar Quarter, while still being just one train stop away from work for those working in the area. Plus, nearby schools Chung Cheng and TKGS are within walking distance – a mere 10 minutes away.
7. The Reserve Residences
Location : Jalan Anak Bukit (District 21)
Developer : Far East Organization & Sino Group
Lease : 99-years
TOP Year : 2027
Nearest MRT : Beauty World MRT (Downtown Line)
Number of Units : 845
Notable details:
Situated conveniently near Beauty World MRT station, The Reserve Residences is a truly integrated development with an expansive commercial podium of over 215,278 sq. ft. It boasts not just office spaces, but also a variety of shops and dining outlets. With developments such as Daintree Residence, View at Kismis, Forett, Verdale, Mayfair Modern and Mayfair Gardens either finished or close to completion, the demand for such services is sure to be high, making the commercial elements of The Reserve Residences a real hit!
Residents of the area are spoiled for choice when it comes to shopping and dining; Beauty World Plaza, a mall near the MRT, is a one-stop shop for all needs, with many food options available. If that wasn’t enough, the shophouses along Cheong Chin Nam are renowned for their late-night fare, while Beauty World Food Centre on the 4th level and Bukit Timah Market offer local cuisine.
At Reserve Residences, there will be a first-of-its-kind “intergenerational hub” community space – a concept which HDB has implemented in the past, yet never before seen in a private property. With a total land size of 3.22 hectares (346,310+ sq. ft.), this could be the perfect spot for an array of exciting opportunities!
Prices have yet to be revealed, however, given the luxurious location of Bukit Timah and Far East and its esteemed reputation, we expect costs to be quite steep.
Nevertheless, this District 21 development promises to be one of the most desirable condominiums in the area; situated close to the verdant greenery of Bukit Timah, but still offering convenient access to the MRT.
Parents with children will appreciate the vicinity of the sought-after Pei Hwa Presbyterian Primary School, although competition for admission will likely be high due to the high density of residential properties in the vicinity.
Other Upcoming Projects
Check back on my blog for updates about some of these exciting projects! Though some may not yet have a name or concrete details, I’ll be sure to keep you informed as these roll out.
Dig deeper into my in-depth articles on new and resale condos to read detailed reviews. Plus, stay on top of the latest developments and get an up-close look as they become available!
Should You Buy, Sell or Wait?
If you’re reading this, you must be trying to figure out the best course of action right now: is it the right time to buy or sell?
It’s difficult to give an exact answer since everyone’s situation is unique and what works for one person may not necessarily work for you.
I can bring you a wealth of on-the-ground experience and a data-driven approach to provide clarity and direction. From beginners to experienced investors, our top-down, objective approach will help you on your real estate journey.
I can help you by:
- Offering Strategic Real Estate Advice – I can help create a comprehensive plan to guide you through your property journey.
- Connecting Your Home with the Perfect Buyers – Through stunning visuals, an effective communication strategy, and an in-depth knowledge of the market, we’ll ensure your home is presented in the best possible way to fulfill your goals.
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