UPCOMING HOT LAUNCHES
| District | Project Name | Developer | Location | Tenure | Indicative Unit Price (psf) | No. of Units | |
| 27 | The Estuary | | Yishun Avenue 2 | 99-yr | $850 | 608 | |
| 5 | The Vision | Grand Waterfront Development Pte Ltd (Cheung Kong Holdings) | | 99-yr | N.A. | 255 | |
| 15 | Valley Site | FCL Estates Pte Ltd (Frasers Centrepoint Limited) | | FH | N.A. | 393 | |
| 18 | Unnamed | Hong Realty Pte Ltd | Pasir Ris Grove | N.A. | N.A. | 1,394 | |
Source: JLL
Market trends
Li Hiaw Ho, Executive Director of CBRE Research thinks that the economy is expected to get a boost from the opening of the two Integrated Resorts.
“The first half of 2010 will see a wider spread of project launches from the mass market,
to the city fringe and to prime locations. For mass market and city fringe 99-year leasehold projects, prices are likely to cross the $1,000 psf barrier because of their near-city location or if they are near an MRT station,” said Li.
He added that,” new prime projects in the pipeline include Ardmore 3 and those on the collective sale sites of Farrer Court, Grangeford, Hillcourt, Parisian and others. The take-up in 2010 is expected to moderate to 8,000-10,000 units and home prices could rise by 5 to 10 percent.”
Similarly, Dr Chua thinks the property market will stay buoyant. “Assuming that Singapore’s economic recovery remains on track, buyers’ interest in Singapore’s residential properties is expected to continue from last year into 1H10 as it remains high on the back of improved investment sentiments and brighter job prospects,” he said.
However, he added that “the mass market is expected to lag behind the prime market in performance as the former responds to the recently-introduced government measures to cool off the residential property market while the high net worth individuals and wealthy foreign buyers return to drive activity in the latter.”
Dr Chua is also confident the government will keep a watchful eye on the property market. “The state is likely to continue to monitor the market through the property price index, of which an increase greater than 1.5-2% per quarter may spur the government to introduce further cooling measures,” he remarked.
