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 …

Mandarin Top 5

Top 5 Places to Try Durian in Singapore

Jayson Ang – May 28, 2024 –

Durian, often referred to as the "King of Fruits," is a unique and polarizing delicacy in Southeast Asia. With its...

All Blog Posts Buying Tips

Are You Considering Paying Off Your Mortgage Loan Ahead of Time? Is It the Right Financial Move?

Jayson Ang – May 11, 2023 –

TLDR When considering mortgage options in Singapore, it's essential to understand the differences between HDB loans and bank loans. HDB...

All Blog Posts Buying Tips

Singapore Decoupling Guide

Jayson Ang – December 29, 2022 –

TLDR Decoupling in Singapore's real estate refers to the process of separating property ownership to avoid Additional Buyer's Stamp Duty...

All Opinion

The Johor-Singapore Special Economic Zone: A New Chapter, Not Just “Iskandar 2.0”

Jayson Ang – April 26, 2026 –

TLDR The Johor-Singapore Special Economic Zone (JS-SEZ), launched in January 2025, is a bilateral effort aimed at sustainable economic growth...

Mandarin Top 5

Is Singapore’s Property Market on the Verge of a Crash? Understanding the 5 Factors at Play

Jayson Ang – March 31, 2024 –

The Singapore property market has long been an attractive option for both local and international investors. However, as with any...

Mandarin Top 5

The Top 5 Myths About Buying Property in Singapore – Debunked!

Jayson Ang – June 4, 2023 –

The Top 5 Myths About Buying Property in Singapore – Debunked! Here are the top 5 myths about buying property...

Mandarin Top 5

Top 5 Vegetarian Restaurants in Singapore

Jayson Ang – March 14, 2024 –

Singapore, a melting pot of cultures and cuisines, offers a diverse range of dining options for food enthusiasts. For vegetarians,...

Mandarin Top 5

The 5 Most Popular Types of Properties to Buy in Singapore

Jayson Ang – May 19, 2023 –

The 5 Most Popular Types of Properties to Buy in Singapore 1. Condominiums: Condos are popular among buyers because they...

All Opinion Selling Tips

Selling Your Home in Singapore Independently: 7 Key Considerations

Jayson Ang – September 22, 2026 –

TLDR Selling your home in Singapore independently can save on agent commissions but requires significant effort and the right circumstances....

Mandarin Top 5

5 Things to Know About the Singapore Property Tax System

Jayson Ang – June 18, 2023 –

5 Things to Know About the Singapore Property Tax System Here are 5 things you need to know about the...

All Buying Tips Opinion

Love Across Borders: Navigating Singapore’s Housing Choices for Mixed-Nationality Couples

Jayson Ang – January 30, 2026 –

TLDR Marriages between Singaporeans and foreigners now make up about 20% of all marriages, but housing options for these couples...

All Opinion

The Cost of Housing – Affordability vs Premium?

Jayson Ang – August 11, 2023 –

TLDR The blog post discusses the challenges Singapore faces in housing affordability, particularly the rising costs of private homes compared...

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

Three Singaporeans Share Their Experiences of Co-Owning a Property with Friends

Jayson Ang – March 18, 2025 –

TLDR In Singapore, some individuals venture into property investments with unrelated partners, driven by opportunities and personal circumstances. Jim, leaving...