5 Cons Of Buying A Resale Property
Luxury properties in Districts 9 and 10 of Singapore are highly coveted, and for good reason. From stunning views and...
Read More
TLDR
The real estate sector in 2023 saw significant policy shifts affecting both private and public housing, with various changes like hikes in ABSD rates and tweaks to public housing regulations. In 2024, exciting prospects await with new property launches near MRT stations, mixed-use projects, and developments close to schools and amenities. Whether you seek nature, transport convenience, or educational proximity, there’s something for everyone in the upcoming projects. Consider factors like transport links, school proximity, and mixed-use developments when deciding whether to buy, sell, or wait in the current real estate market.
As we approach the tail end of the year, it’s natural to start reflecting on what’s been and eagerly anticipate what’s ahead. If we were to cast our gaze back, it’s pretty clear that 2023 was a noteworthy period for the domestic real estate sector with plenty of policy shifts affecting both private and public housing.
From hikes in additional buyer’s stamp duty (ABSD) rates, to increased marginal buyer’s stamp duty rates for more expensive properties, to a bunch of tweaks to public housing regulations, including the stricter rule for picking build-to-order (BTO) flats, and the upcoming reclassification of flats from the latter half of 2024, it can be quite a head-scratcher for newcomers.
In light of the cooling measures introduced in April 2023, the numerous policy alterations to chew over, and stubborn interest rates, some hopeful buyers have decided to hit the pause button to assess their choices. For those who are still hunting for their dream home or a solid investment property, 2024 is set to offer some thrilling prospects. Here’s a sneak peek at some potential new projects slated for launch in the first half of the coming year.
Some Possible New Launches* In 1H 2024
Source: PropNex Research, PropNex International (*not listed in any particular order; subject to change)
Among the bunch, a couple of projects stand out as real gems. They’re like the gold medal winners of the property game. One of these is Skywaters Residences, previously known as AXA Tower, on Anson Road. This place is set to be Singapore’s highest building once it’s done, taking the title from Guoco Tower, which currently stands proud at 283.7m. Another noteworthy project is over at Marina Gardens Lane. It’s the first piece of land sold in the fresh Marina South district. Both of these high-profile developments are within an easy stroll to an MRT station – Tanjong Pagar station for Skywaters Residences and the soon-to-be-opened Marina South station for the Marina Gardens Lane project. Actually, quite a few of the upcoming launches are conveniently located near an MRT station, meaning you could walk there in under 10 minutes. Pretty cool, right?
If you’re hunting for a home with seamless MRT access, these developments might just hit the sweet spot: the old Meyer Park plot (a short 7-minute stroll to the soon-to-be-unveiled Katong Park MRT stop); plots along Bukit Timah Road & Duke’s Road (again, only 7 minutes to the Botanic Gardens MRT hub); The Hill @ One North (a brisk 6-minute walk to Buona Vista MRT hub); the once-known La Ville site (6 minutes to the budding Katong Park MRT stop); the former Peace Centre location (6 minutes to Bencoolen MRT stop); the Mount Emily initiative (6 minutes to Little Indian MRT stop); Lentoria (a convenient 5-minute journey to Lentor MRT stop); Lentor Gardens venture (5 minutes to Lentor MRT stop); Hillhaven (7 minute amble to Hillview MRT stop) and The Arcady @ Boon Keng (just 7 minutes to Boon Keng MRT stop).
Coming soon, we’ve got a bunch of exciting projects right next door to MRT stations. Just off the top, these include: Bukit Timah Link (a quick 3-minute walk to Beauty World MRT station); Marina View Residences (just two minutes to Shenton Way MRT station); Newport Residences (5 minutes away from the upcoming Prince Edward Road MRT station); the site of the old Bagnall Court (only a minute’s jaunt to the Sungei Bedok MRT station on the horizon); the site of the former Chuan Park (a mere minute to Lorong Chuan MRT station); Marina Gardens Lane project (a single minute to the upcoming Marina South MRT station); and Skywaters Residences (1 minute to Tanjong Pagar MRT station).
According to a 2023 survey from PropNex, about 40% of home buyers believe that being close to transport services is a big plus when buying or investing in residential property. Given the number of future launches near MRT stations, it’s safe to say we could see a surge of interest, especially if the price tags are reasonable.
For those on the hunt for mixed-use projects, you’ll have plenty to choose from in 2024. The Hill @ One North and the Marina Gardens Lane project are set for residential use with commercial spots on the ground floor, while Newport Residences (the former Fuji Xerox Tower) and Skywaters Residences in the city centre will each feature a commercial podium. These mixed developments are usually a hit with buyers because they offer more convenience and might also lead to bigger financial gains down the line.
City developments seem to have everything, but they often lack nearby schools. Looking at the planned projects for the first half of 2024, a few stand out for their close vicinity to educational institutions. Take the Jalan Tembusu project, for instance – it boasts over 10 schools in its immediate surroundings. Then there’s the former East Court location, surrounded by eight primary schools, four of which – CHIJ (Katong) Primary, Haig Girls’ School, Tanjong Katong Primary, and Tao Nan School – are within a one-kilometer radius. Another District 15 project, the former La Ville site, is just a hop, skip, and jump away from Dunman High School.
In Singapore, your home’s distance from a school can influence Primary 1 registration priority. Some property investors even think that being near popular schools can push up property values.
Staying on the subject of schools, two projects in Lentor Hills are conveniently located near CHIJ St. Nicholas Girls’ School. The Bukit Timah Road & Duke’s Road project is less than a kilometer from Nanyang Primary and Raffles Girls’ Primary, while The Hill @ One North is pretty close to Fairfield Methodist Primary and New Town Primary, not to mention Henry Park Primary.
On another note, the Bukit Timah Link project is nicely positioned near Pei Hwa Presbyterian Primary and Ngee Ann Polytechnic. The development on Mount Emily Road will be near the upcoming St. Margaret’s Primary, as well as cultural hubs like the LaSalle College of The Arts, Nanyang Academy of Fine Arts, and School of the Arts.
If you’re drawn to the allure of nature, several upcoming developments might pique your interest. Consider Hillhaven, nestled in Hillview Rise, or the future enterprise at Bukit Timah Link, both just a leisurely stroll away from the lush expanse of Bukit Timah Nature Reserve. This reserve is no ordinary green belt; it cradles Singapore’s tallest summit, Bukit Timah Hill. For an unbeatable proximity to verdant landscapes, the new Sora venture on Yuan Ching Road, neighbouring the vast Jurong Lake Gardens, stands unrivalled.
If your heart yearns for city life but still craves a touch of nature, we’ve got you covered. Here are some projects that might strike the right balance. The impending development at the juncture of Bukit Timah Road and Duke’s Road comes highly recommended, as it offers easy access to the esteemed Singapore Botanic Gardens, our nation’s first UNESCO Heritage Site. Additionally, Marina View Residences and the forthcoming endeavour in Marina Gardens Lane are conveniently located adjacent to the iconic Gardens by the Bay.
Taking all factors into account, there’s a compelling lineup of attractive projects slated for the first half of 2024. Whether you prefer a locale close to nature, convenient transport connections, or proximity to schools and amenities, there’s something for everyone.
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 …
Should Buying A Low Lease Project Be A Viable Option?
TLDR When considering low lease projects in Singapore, it's crucial to evaluate your individual needs, financial standing, and future plans....
Read More
Investing in Singapore Real Estate as a Foreigner
TLDR The blog post discusses the rules and regulations for foreign investors looking to purchase real estate in Singapore. It...
Read More
Top 5 Tips : How Does One Choose Good Property In Singapore?
Singapore, a thriving city-state known for its impressive skyline and robust economy, has always been an attractive destination for property...
Read More
Discover What Else You Can Focus On Beyond PSF – Here’s How!
TLDR When considering real estate investments, factors like property size, location, and PSF play crucial roles in determining affordability. Smaller...
Read More
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
Beware of These 7 Deceptive Tricks In Showflat Condo Sales
TLDR When navigating the complexities of the real estate market, it's crucial to be wary of hidden marketing tricks when...
Read More
Top 5 Factors : Singapore Real Estate Investing vs Stocks and Bonds: Which is Better?
Investing is an essential aspect of wealth creation and financial planning. With a plethora of investment options available, it can...
Read More
Discover Affordable Executive Condos in 2024 Starting at $560,000
TLDR The Executive Condos (ECs) offer affordable options compared to private properties in Singapore. Despite price variations, most ECs remain...
Read More
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
What Factors Contribute To Singapore’s Real Estate Market Exhibiting Less Volatility Than Other Major Cities?
TLDR The Singaporean real estate market has remained stable due to government cooling measures. These include Additional Buyer's Stamp Duty...
Read More
5 Singapore Property Trends to Watch in 2023: Expert Weigh In
5 Singapore Property Trends to Watch in 2023: Expert Weigh In Top 5 Singapore Property Trends to Watch in 2023...
Read More
Downsizing From A Spacious 4-Bedroom Condo To A Cozy 2-Bedder: How I Chose A Condo Over A HDB
TLDR Mdm Sim's decision to trade her four-bedroom house for a two-bedroom condo is explored, highlighting the benefits of right-sizing....
Read More
Top 5 Factors : Why Investing In A Property With A Good View Can Be A Profitable Move In Singapore
Investing in a property with a good view in Singapore can be a profitable move for several reasons. Here are...
Read More
The Top 5 Features to Look for When Buying a Luxury Property in Singapore – Expert Insights!
Singapore, a thriving financial hub and one of the world's wealthiest nations, has become an attractive destination for luxury property...
Read More
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
Top 5 Factors : Buying Resale vs New Launch Property in Singapore: Which is Better?
The decision to invest in a property in Singapore can be both exciting and daunting, especially when faced with the...
Read More
Making Sense of 99-Year Landed Home Investments in Singapore
TLDR Investing in a 99-year leasehold landed property in Singapore can be a lucrative venture due to the country's land...
Read More
Evaluating Property Investments: Pros and Cons to Keep in Mind
TLDR: Key Takeaways from the Blog Post Singapore's real estate market offers both pros and cons for investors. The advantages...
Read More
Why Aren’t Spacious, Wallet-Friendly Homes Our Reality Yet?
TLDR The article discusses the current housing market in Singapore, focusing on the challenges faced by individuals like Sherlyn Tan...
Read More
