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 Blog Posts Buying Tips Opinion

Why There’s No Perfect Time to Enter the Market

Jayson Ang – December 18, 2022 –

TLDR When it comes to property transactions, understanding the factors influencing rising prices is crucial. The pandemic has driven up...

All Buying Tips Opinion

What Factors Contribute To Singapore’s Real Estate Market Exhibiting Less Volatility Than Other Major Cities?

Jayson Ang – November 12, 2023 –

TLDR The Singaporean real estate market has remained stable due to government cooling measures. These include Additional Buyer's Stamp Duty...

All Reports

Finding Your Dream Home In The Near Future. Exciting Upcoming Property Launches In The First Half Of 2024

Jayson Ang – December 25, 2023 –

TLDR The real estate sector in 2023 saw significant policy shifts affecting both private and public housing, with various changes...

Mandarin Top 5

Singapore Property Investing: Is It Better To Flip Or Hold?

Jayson Ang – May 18, 2024 –

Investing in Singapore property can be a profitable venture, but investors must choose the right strategy to maximize their returns....

All Buying Tips Opinion

Should You Pay Extra for a Private Condo When the EC Next Door Looks Identical?

Jayson Ang – April 16, 2026 –

TLDR Singapore’s executive condominiums (ECs) have improved significantly, now matching private condos in design and facilities but at lower prices....

All Blog Posts Buying Tips

Get Into Core Central Region Before Big Price Adjustments

Jayson Ang – February 13, 2023 –

TLDR Jayson Ang discusses the essential factors to consider when seeking a property for investment. By analyzing the safe entry...

All Buying Tips Opinion

First-Time Homeownership After 40 in Singapore: Navigating Unique Risks

Jayson Ang – June 8, 2026 –

TLDR Older first-time homebuyers face unique challenges including lease decay risks, stricter loan-to-value (LTV) limits, and shorter loan tenures leading...

Mandarin Top 5

5 Reasons : Why Investing In Singapore Property Is The Best Decision I Ever Made

Jayson Ang – May 10, 2024 –

Investing in property is a great way to build wealth and secure a stable source of passive income. When it...

All Buying Tips

A First-Time Condo Buyer’s Guide to Evaluating Property Developers in Singapore

Jayson Ang – May 9, 2026 –

TLDR When buying a new launch condominium in Singapore, a developer’s reputation is crucial since buyers rely on trust and...

All Buying Tips Opinion Reports

Are Million-Dollar HDB Landed Homes Still Worth A Look In 2025 Despite Their Age?

Jayson Ang – October 5, 2025 –

TLDR Old HDB landed homes, like those in Whampoa, are rare and now fetch over $1.5 million, but their value...

Mandarin Top 5

Top 5 Reasons : Why Singapore’s Property Market Is a Safe Haven for Investors in Uncertain Times – Insider Analysis!

Jayson Ang – September 16, 2024 –

In today's uncertain global economic climate, investors are constantly on the lookout for safe havens to park their wealth. Amidst...

All Opinion

Is Land in Singapore Becoming Too Expensive? Unpacking the Developers’ Reluctance

Jayson Ang – September 16, 2026 –

TLDR Singapore’s escalating land costs are reshaping developer strategies and the property market. With government land sales commanding record prices...

All Buying Tips

Understanding Property Investment in Singapore: Residential vs. Commercial Properties

Jayson Ang – March 26, 2026 –

TLDR Singapore’s real estate market offers distinct differences between residential and commercial properties. Residential properties typically have longer leases (up...

Mandarin Top 5

Top 5 : Nationalities Of Prime Property Buyers in Singapore

Jayson Ang – November 29, 2024 –

Singapore, a thriving city-state known for its stable political climate, excellent infrastructure, and strong economic fundamentals, has long been an...