A year ago, new launches were selling out like hotcakes. Prices were soaring,
and each new launch was setting record prices with impressive sales on 1st day
of the launch, with many projects selling out at 75% on day 1. In 2023, the
fortunes reverse, with most new launches selling at around 50% during Day 1 of
Here is a look at the sales figures for selected new launches in 2022/2023
Tembusu Grand – 638 Units
Tenure: 99 years, D15
Developer: CDL and MCL
53% Sold on Launch Day
Average Price sold: $2,465 psf
There are 1-5 Bedrooms (BR) for this project. Prices start from $1.248m
for 1-BR to $4.028m for 5-BR. Unlike the earlier launches, it was not a
sell-out for 1BR and 2 BR. 1-2 BR are usually snapped up by investors looking
to rent and would usually be almost sold out on day 1. For Tembusu Grand,
there is a 22% 1BR and 2BR combination balance.
Botany at Dairy Farm -386 Units
Tenure: 99 years, D23
Developer; Sim Lian Land and Sim Lain Development
48% sold on Launch Day
Average Price sold: $2,070 psf
There are 1-5 BR for this project. Prices start from $998,000 for 1-BR+ Study
and $2.9m for 5-BR. All 36 1-BR and 93% of the 104 2-BR were sold on day 1.
Terra Hill -270 Units
Tenure: Freehold, D5
Developer: Hoi Hip Realty and Sunway Developments
38% sold on Launch Day
Average Price sold: $2,650 psf
There are 2 to 5 BR for this project. The bulk of the sales is from the 2BR,
with 52 out of 70 units sold. This was also one of the lowest performers for
Seneca Residences – 268 Units
Tenure: 99 years, D16
Developer: MCC Singapore, Ekovest Development and The Place Holdings
60% sold on Launch Day
Average Price sold – $2,072 psf
Seneca Residences has 1-4BR for this project. Prices start at $958,000 for 1
BR and up to 5-6 million for Penthouses. The bulk of 1BR and 2 BR were sold on
Sky Eden – 158 Units
Tenure: 99 years, D16
Developer: Frasers Property Singapore
70% sold on Launch Day
Average Price sold: $2,100 psf
Sky Eden has 2 to 4 bedrooms. It is a mixed-use development. The 2 BR were
priced from $1.31m, and the 4 BR is priced from $2.6m. The 2 BR were fully
sold on Day 1
Liv@ MB – 298 Units
Tenure: 99 years, D15
Developer : Bukit Sembawang Estate
75% sold on Launch Day
Average Price sold: $2387 psf
Piccadilly Grand – 407 Units
Tenure: 99 Years
Developer: CDL and MCL Land
77% sold on Launch Day
Average Price sold: $2150 psf
The launches in 2022 have more success, with over 70% sell-out on average
compared to the 50% average sell-out rate in 2023. Statistically, the units
that sell out first are the 1-2 bedroom under 1.5m quantum. The 3BR and above
options tend to move slowly.
Upcoming New Launches
We expect the take-up rate to hover around 40-50%. For the latter part of the
year, there will be several mega launches, including The Continuum (D15),
Grand Duman (D15), The Reserve Residences (D21) and Blossoms by the Park (
Given the number of units, high-interest rates and escalating prices,
attracting new buyers in today’s environment would be challenging.
What Real Estate Agent would not tell you, and why it matters to your
Most of the buyers are looking at 1 to 2 bedrooms
Units of these sizes are usually meant for investment due to the lower
quantum. These units have the least potential capital
appreciation due to their size.
Choice units are still available
FOMO can be a catalyst to wrong decisions.
Most investors will target the lower-priced units. That means units facing
the main road, lower floors, and those with no views tend to be the ones
that sell out earlier. Higher floor units are the last to sell, especially for 1-2 bedrooms. The bigger units and better-facing units tend to be the last to sell.
3 Bedrooms and Above would usually have stock
If you are looking for bigger units, you are in luck. They are likely to be available
even after launch day. You can shop for the right one if you prefer a bigger one.
There are cheaper alternatives New Launches
Sometimes buyers are caught up with the current marketing hype and forget
other options might exist. There may be better buys for ‘older’ new launches
or new launches that had already TOP. This is because the land acquisition
cost tends to be lower, and you could get more bang for your buck.
(Almost )Everyone Pays the Same Price.
VVIP, Developer Discount and Early Bird Prices are just marketing gimmicks.
If you see an advertisement on Property Guru listing an agent at a price
over 20% off similar listings, chances are you see an agent trying to fish
for clients.Try to get the agent to confirm the price and they would usually say it is indicative or the market has moved.
During a new launch, most buyers WILL get the same prices.
Discounts are only allowed for bulk purchases or exceptional cases (such as
previous enbloc owners). Every other agent has to market at the same price,
or the developer can penalise them. If you have seen such ads, best to avoid
You may not get your choice unit even if you have money
Most of the new launches are ‘oversubscribed’. As a result, balloting is
needed. Moreover, the buyers tend to target similar units (1-2 bedrooms). If
you get the smaller units, you must set expectations or even a higher budget
High loan interest rate is a deterrent
Higher loan interest rates impacts the quantum loan that a buyer can take. This would reduce the demand for higher-priced units (ie the bigger units). In the long run, if high-interest rates continue, it may also affect rental returns.