Your search results

3 Trends For New Launch Properties In 2023

Posted by Jayson Ang on March 20, 2023

| 0

TLDR

When considering buying or selling a property in Singapore, it’s crucial to understand the market dynamics and key metrics. In 2023, there will be around 40+ new launches for buyers to choose from, each offering different advantages. Newly completed properties come with a one-year defect warranty period but may come at a premium price. On the other hand, new launches provide a variety of options but often have higher prices and longer waiting periods. Understanding these factors can help you make an informed decision that aligns with your needs and budget. For personalized advice and assistance, consider seeking guidance from real estate professionals who can offer strategic advice and help connect you with potential buyers.

I will be discussing new launches for the year 2023. This year, there are approximately 40+ new launches estimated to be launched for the entire year. In the last two years, there was a slew of en bloc activities as well as government land sales, and for the first half of this year, there will also be more government land sales to satisfy the demand from developers to acquire more land.

As a condo buyer looking for a condominium in the market, you will typically have three different types of products to choose from. The first product is resale properties in the entire market, the second type is newly completed properties, and the third is new launches.

In 2023, there will be an estimated 36 condos that will be newly completed and will likely be owned by people who bought them about three to four years back, starting from 2019-2020.

Some owners may have bought them last year or in 2021 because they bought the balance units. These units will definitely not be put on the market for sale as the owners need to fulfill a minimum of three-year seller stamp duty period.

If you are attracted to newly completed properties, you will likely be the type of home buyer who loves to buy brand new properties that nobody has stayed in before. They still come with a one-year defect warranty period, which is a plus point. However, you will have to pay a premium as no owners will resell their property at the same price that they bought it from the developer.

Going into new launches is the third option, and there will be about 40+ different new launches for you to choose from this year. However, it is important to understand some key metrics before making a decision.

In my last blog post, I talked about two charts that showcased upcoming new launches for the year 2023 and the movement that new launches seem to have, with an estimated movement upwards in terms of benchmark pricing of $400psf every five years. For today’s context, we want to look at a new chart that I have come up with.

I did an estimated supply based on the project launch date of properties currently being launched at the moment, plus another four years, to see if there will be an upcoming oversupply situation in the condo market. Based on this, it seems that the supply is very well managed by the government, which is good for existing homeowners because our government needs to calibrate the introduction of Government Land Sales (GLS) very carefully to avoid a glut situation in the condo market.

To recap, there are about 340,000 condos and apartments in Singapore, out of which about 70,000 are being owned by foreigners and PR. There are about 260,000 being owned by Singaporeans. It is essential to note that foreigners and PRs have to pay an Additional Buyer’s Stamp Duty (ABSD).

In conclusion, if you are looking to buy a new launch property in 2023, it is important to understand the three different types of products and key metrics before making a decision.

With approximately 40+ new launches to choose from, there are plenty of options available for buyers. However, it is essential to note that the prices of new launches are often higher, and the waiting period can be longer. By understanding these key factors, you can make an informed decision and choose the best property that fits your needs and budget.

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.

You May Also Like …

All Opinion

URA’s Draft Master Plan 2025: A Blueprint for 80,000 New Homes Across 10+ Estates

Jayson Ang – April 23, 2026 –

TLDR The URA Draft Master Plan 2025 outlines the creation of 80,000 new homes across more than 10 estates over...

Mandarin Top 5

Top 5 Reasons : Why Singapore’s Property Market Is the Best Place to Invest for Long-Term Growth – Expert Analysis!

Jayson Ang – June 9, 2025 –

TLDR Singapore’s property market stands out for long-term investment due to its strong economy, stable government policies, high rental demand,...

All Blog Posts Opinion

How Will Singapore’s Development Influence The Real Estate Markets In Bedok, Changi, Pasir Ris, And Tampines : 2023

Jayson Ang – April 5, 2023 –

TLDR You will find detailed insights into upcoming housing developments in the East of Singapore, specifically in areas like Bayshore,...

All Blog Posts Buying Tips

Step-By-Step Guide To Buy Resale HDB (Updated March 2023)

Jayson Ang – July 13, 2023 –

TLDR The process of purchasing a resale HDB flat involves steps such as checking eligibility, calculating affordability, registering intent to...

Mandarin Top 5

5 Dangerous Ideas Singapore Property Investors Have

Jayson Ang – September 2, 2024 –

Singapore's property market has always been a hot topic among investors, both local and international. With its strong economy, stable...

Mandarin Top 5

5 Factors : Why Now Is The Perfect Time To Invest In Singapore Property

Jayson Ang – May 12, 2024 –

Investing in property is an excellent way to build wealth and secure a stable source of passive income. If you...

Mandarin Top 5

Top 5 : Best Themed Cafes in Singapore

Jayson Ang – November 15, 2024 –

Singapore, a vibrant and diverse city, is known for its eclectic mix of cultures, cuisines, and attractions. Among the many...

All Buying Tips Selling Tips

The Emergence of Million-Dollar HDB Flats in Singapore: Could This Become the Standard Moving Forward?

Jayson Ang – July 28, 2024 –

TLDR Understanding the nuances of the HDB property market in Singapore, especially the trend of million-dollar flats, requires a deep...

All Buying Tips Opinion

What Is The Best Location To Purchase A House To Ensure Your Child Has The Highest Probability Of Attending A Well-Renowned Primary School?

Jayson Ang – October 25, 2023 –

TLDR Parents often seek homes within 1km of desired primary schools to increase enrollment chances. Consider oversubscription rates and population...

All Buying Tips

Tips for Young Adults to Begin Saving for Their Future Home

Jayson Ang – August 5, 2023 –

TLDR When aiming to purchase a home, it is crucial to gain knowledge about the buying process and track your...

Mandarin Top 5

Top 5 : Potential Risks Should Be Considered When Investing Property Within Singapore’s Competitive Real Estate Markets

Jayson Ang – December 27, 2024 –

Singapore, a bustling financial hub in Southeast Asia, has seen its real estate market flourish over the years. The city-state's...

Mandarin Top 5

Top 5 Factors: Singapore Offer A Stable And Lucrative Investment Opportunity In Real Estate?

Jayson Ang – May 17, 2025 –

Singapore, a small yet economically powerful city-state, has long been recognized as one of the most attractive destinations for real...

All Blog Posts Buying Tips

What Will Happen When Your 99-Year Housing Lease Expires?

Jayson Ang – February 11, 2023 –

TLDR We delve into the challenges faced by Singaporeans with expiring 99-year housing leases. It explores the types of leases...

All Buying Tips Opinion

Larger Living Spaces: The New Demand Surge Post-Pandemic

Jayson Ang – January 13, 2025 –

TLDR We explore the significant impact of digital marketing strategies on business growth in today's competitive landscape. It highlights the...

All

URA 2025 Draft Master Plan: 6 Under The Radar Changes You May Have Missed

Jayson Ang – April 12, 2026 –

TLDR The URA 2025 Draft Master Plan outlines major developments in Singapore over the next 10-15 years, with 80,000 new...

Mandarin Top 5

5 Secrets To Successful Property Investing In Singapore

Jayson Ang – March 29, 2024 –

Investing in property is a popular option in Singapore, with many investors seeing it as a lucrative way to build...

All Blog Posts Opinion

Are We Truly Headed For A Slowdown? How Will This Affect Property Prices?

Jayson Ang – December 9, 2022 –

TLDR The pandemic-induced recession has surprisingly boosted property prices in Singapore, defying conventional economic trends. Factors like cost-push inflation, limited...