Fraud Blocker
Your search results

35 Brand New Condominiums Nearing Their ABSD Deadline 2023

Posted by Jayson Ang on March 4, 2023
| 0

TLDR

The blog post discusses the looming ABSD deadline for several new launch condos in 2023, highlighting the impact on developers and potential discounts for buyers. Specific projects like Riviere, Royalgreen, One Pearl Bank, and The Landmark are analyzed for their sales progress and remaining units. Additionally, the post touches on strategic real estate advice and property investment insights for readers.

The property market may be booming, but there are still many projects that have yet to sell out before the ABSD deadline. Savvy buyers hoping for a bargain may track these projects closely, as developers may be compelled to reduce prices for the last remaining units.

Nonetheless, developers may also opt to sell the remaining units en masse to a single buyer, rather than selling them piecemeal to multiple individuals.

What is the ABSD Deadline, And Why Would There Be Discounts?

Developers must pay 40% Additional Buyer’s Stamp Duty (ABSD) when buying land for development. Luckily, ABSD remission is available after five years, provided all units are sold; but 5% is non-refundable, so the developer will always have to pay a minimum of 5% ABSD.

This rule is in place to discourage developers from creating artificial scarcity by hoarding land.

For developers, the ABSD cost is steep; holding onto units past the five-year deadline is not something they want to do. This means more discounts for buyers, as the developer rushes to sell the remaining units. The five-year window applies no matter how many units, whether it’s 100 or 1,000 – all must be sold.

With that in mind, here’s a list of 35 new launch condos set to reach their ABSD deadline in 2023 – perfect for those on the lookout!

As of March 3, 2023, the ABSD deadline is only a guess based on the date of purchase plus an extra 5.5 years – including the six-month extension.

The ABSD period is calculated by adding 5 years (365 x 5) plus an additional 6 months (182 days) from the date of purchase of the land (whether through successful bidding of a GLS site or en bloc sale).

Therefore, the period should be taken as a close approximation and not an exact day.

Here are some notable highlights of this list:

1. Riviere Has Achieved A Stunning Turnaround

As of March 2022, Riviere had sold 46.81% of its 455 units, but after receiving its TOP just recently, only 16 units remain – mainly the upper floors. I’ve heard on the ground that the development has been well-received, with potential buyers claiming that the final product looks even better in person!

Seeing Leedon Residence’s success, it’s likely Riviere will have no problem selling off the remaining units before completion. After all, having the actual product to show the higher-end buyers can make all the difference, and with only a few months to go, prospective buyers will be able to view the development firsthand.

No surprise that there have been numerous comparisons drawn between Irwell Hill Residences and Riviere; though both residential developments are located close by, Riviere holds a particularly illustrious place, resting beside the river. But what’s intriguing is how much of a difference a later launch date, a greater momentum in sales, and a differing unit mix can make.

2. Even Though The Development Of Royalgreen Is Completed, The Units Are Yet To Be Fully Sold

Despite its premium location near Bukit Timah, the freehold TOP development Royal Green has only 8 units left, all 2-bedrooms ranging from 689 to 818 square feet.

This may appear unusual to casual onlookers, however it offers a variety of facilities and amenities, in addition to a rooftop tennis court for just 285 units – making it a truly desirable proposition for those looking for convenience, comfort and culture.

If we delve deeper, we can see that Fourth Avenue Residences may be taking sales away from RoyalGreen as both properties are created by the same developer. One being a freehold and the other a 99-year leasehold, there could have been greater product differentiation.

Additionally, there may be a demand for larger units at RoyalGreen due to the surrounding area of landed homes and the typical wealthier customers. The few 4-bedroom units available were bought up quickly, indicating the need for more spacious units.

Despite being fully sold out, Fourth Avenue Residences still had a few 2-bedroom units left to fill the gap.

3. Struggles Of New Launches On The City Fringe Of Central Business District

It’s easy to spot One Pearl Bank and The Landmark on this list because of their remaining units. Nestled at the two ends of Pearl Hill’s City Park, One Pearl Bank is in a more easily accessible location than The Landmark.

It’s tough to pinpoint the issue, especially now that the pandemic is over and foreigners have come back to our country.

Could it be the location? Highly unlikely, considering the success of Canninghill Piers, which is in close proximity and has already sold its 8,956 square feet super penthouse.

To keep updated on what’s going on, follow my Blog where I’ll also provide reviews of both new and resale properties.

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:

  1. Offering Strategic Real Estate Advice – I can help create a comprehensive plan to guide you through your property journey.
  2. 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.

You May Also Like …


The Top 5 Impact Of Singapore’s Ageing Population On The Property Market And Investment Opportunities
Mandarin Top 5

The Top 5 Impact Of Singapore’s Ageing Population On The Property Market And Investment Opportunities

Singapore's ageing population is having a significant impact on the property market and investment opportunities. The top five effects include:...
Read More
The 5 Secrets To Successful Singapore Property Investing Revealed
Mandarin Top 5

The 5 Secrets To Successful Singapore Property Investing Revealed

The vibrant property market in Singapore has attracted numerous investors and speculators looking to profit from the nation's thriving conditions....
Read More
Exploring Singapore: The Top 5 Surprising Facts You Never Knew
Mandarin Top 5

Exploring Singapore: The Top 5 Surprising Facts You Never Knew

Singapore, a city-state in Southeast Asia, is known for its rich cultural heritage, diverse population, and vibrant food scene. This...
Read More
5 Factors : Why Singapore’s Property Market Is Still A Safe Haven For Investors
Mandarin Top 5

5 Factors : Why Singapore’s Property Market Is Still A Safe Haven For Investors

Real estate investment has always been a popular choice for investors looking to generate passive income and build long-term wealth....
Read More
Unlock the Secrets of Property Investment and Transform Your Financial Future!
All Buying Tips Opinion

Unlock the Secrets of Property Investment and Transform Your Financial Future!

TLDR The Singapore property market has experienced fluctuations, impacting private home prices. Understanding your financial capacity is crucial when considering...
Read More
7 Essential Considerations to Keep in Mind When Assessing a Floor Plan for a New Condominium Development
All Buying Tips Opinion

7 Essential Considerations to Keep in Mind When Assessing a Floor Plan for a New Condominium Development

TLDR When selecting a property unit, carefully examine the floor plan beyond aesthetics. Consider non-living spaces like ledges and void...
Read More
Top 5 Best Unique Nighttime Experiences in Singapore
Mandarin Top 5

Top 5 Best Unique Nighttime Experiences in Singapore

Singapore, a vibrant city-state known for its stunning skyline and diverse culture, truly comes alive at night. As the sun...
Read More
Top 5 : Greatest Challenges That Investors Face In Singapore’s Real Estate Market
Mandarin Top 5

Top 5 : Greatest Challenges That Investors Face In Singapore’s Real Estate Market

Singapore's real estate market is a dynamic and attractive investment landscape for both local and international investors. Known for its...
Read More
Top 5 Japanese Restaurants in Singapore
Mandarin Top 5

Top 5 Japanese Restaurants in Singapore

Singapore, a melting pot of diverse cultures and flavors, offers an incredible array of dining experiences for food lovers. Japanese...
Read More
Is 2024 the Perfect Moment to Refinance Your Home Loan? Discover What Homeowners Should Consider!
All Buying Tips

Is 2024 the Perfect Moment to Refinance Your Home Loan? Discover What Homeowners Should Consider!

TLDR The article covers the shift to SORA for home loan rates, urging consideration of refinancing options amidst rising rates....
Read More
Discover the 7 Unique Attributes of Real Estate Investing
All Blog Posts Opinion

Discover the 7 Unique Attributes of Real Estate Investing

TLDR The post highlights the benefits of investing in real estate, such as high leverage, capital appreciation, income generation, usability,...
Read More
Revival of Singapore Luxury Housing Market in 2023
All Blog Posts Opinion

Revival of Singapore Luxury Housing Market in 2023

TLDR The property market in Singapore has witnessed significant shifts in the past two years, with a surge in prices...
Read More
Top 5 Reasons : Why Jayson Ang is the Best Property Agent in Singapore. And Why You Should Engage Him Today
Mandarin Top 5

Top 5 Reasons : Why Jayson Ang is the Best Property Agent in Singapore. And Why You Should Engage Him Today

In the bustling city-state of Singapore, the real estate market is highly competitive and constantly evolving. Finding the perfect property...
Read More
Top 5 Reasons Why Singapore’s Luxury Property Market Is Booming – Expert Analysis!
Mandarin Top 5

Top 5 Reasons Why Singapore’s Luxury Property Market Is Booming – Expert Analysis!

Singapore's luxury property market has been experiencing a significant boom in recent years, attracting the attention of investors and high-net-worth...
Read More
35 Brand New Condominiums Nearing Their ABSD Deadline 2023
All Blog Posts Buying Tips

35 Brand New Condominiums Nearing Their ABSD Deadline 2023

TLDR The blog post discusses the looming ABSD deadline for several new launch condos in 2023, highlighting the impact on...
Read More
What Is The Cost Of Constructing A Landed Property In Singapore?
All Opinion

What Is The Cost Of Constructing A Landed Property In Singapore?

TLDR Building a landed property in Singapore can be a costly endeavor, with prices ranging from $300 to $500 per...
Read More
Tips for Choosing the Home of Your Dreams
All Buying Tips Top List

Tips for Choosing the Home of Your Dreams

TLDR Decoding the Singapore property market can be challenging, but understanding key factors like property size, location, and lease tenure...
Read More
Craving Dream Homes in the Urban Jungle: The Singaporean Dilemma Unveiled
All Buying Tips Opinion

Craving Dream Homes in the Urban Jungle: The Singaporean Dilemma Unveiled

TLDR The housing landscape in Singapore reflects evolving aspirations and desires, especially among the younger generation. Owning private property is...
Read More
6 Hot Property Market Trends in Singapore 2024: What Buyers Should Anticipate
All Buying Tips Opinion

6 Hot Property Market Trends in Singapore 2024: What Buyers Should Anticipate

TLDR When diving into Singapore's property market, expect a rollercoaster ride as trends shift drastically in 2024. Landlords and tenants...
Read More
Top 5 Factors That Real Estate Investors Should Consider When Selecting A Luxury Condo In Singapore
Mandarin Top 5

Top 5 Factors That Real Estate Investors Should Consider When Selecting A Luxury Condo In Singapore

Investing in a luxury condominium in Singapore is an attractive option for real estate investors seeking high-quality properties with potential...
Read More
1 2 3 29

Compare Listings