6 new condos to look forward to in Q2 of 2023

The first quarter of 2023 saw several major new launch condos, such as Terra Hill and The Botany at Dairy Farm. If you’re planning to upgrade or rightsize to a new launch condo but haven’t found a suitable one, we’ve rounded up this list of new launches in Q2 of 2023.  

Whether you’re a first-time homeowner or plan to sell your current home to move to a new launch, this list is perfect for you. 

*Disclaimer: Walking durations to MRT stations are based on Google Maps estimates. Actual times may vary.

New launch condos coming up in Q2 of 2023

Tembusu Grand (District 15)

Expected TOP: 2028
Nearest MRT: Tanjong Katong (749m, 8-min walk)
Primary schools within 1km: Kong Hwa School, Tanjong Katong Primary School, Haig Girls’ School 

Tembusu Grand is the first of three major new condos launching in District 15 this year. Jointly developed by CDL and MCL Land, it comprises 638 units of 1 to 5-bedroom apartments. 

The development is just minutes from the restaurants and cafes along Tanjong Katong Road. Some highlights are its north-south orientation and facilities like a concierge service, a 50m lap pool and a tennis court. There’s also an elevated gym and a clubhouse which overlooks the pool. 

Tembusu Grand has already opened for previews (since 24 March 2023), and its booking date will be on 8 April 2023. Check out our full review of Tembusu Grand. 

The Continuum (District 15) 

Expected TOP: 2027
Nearest MRT: Dakota (855m, 11-min walk), Paya Lebar (858m, 11-min walk)
Primary schools within 1km: Kong Hwa School, Tanjong Katong Primary School, Haig Girls’ School 

Here’s another major project that’s launching in District 15. With 816 units, The Continuum is one of the biggest freehold projects to launch in 2023. Developed by Hoi Hup Realty and Sunway Developments, the project will have 1 to 5-bedroom penthouse units. 

The Continuum will be an 11-minute walk from both Dakota and Paya Lebar MRT stations, so residents can take the Circle or East-West lines for their daily commute. It is also near the eateries along Tanjong Katong Road and malls like KINEX and PLQ. 

Residents can look forward to unique facilities like sky gardens and an overhead bridge linking the northern and southern sites of the development. There’s also a clubhouse conserved from the Thiam Siew House. 

Average prices of new sale transactions in District 15

District 15 has seen several new launches in recent years, such as LIV@MB, Amber Park and Meyer Mansion. This year, the average psf price of new sale transactions in the district is S$2,467. 

The last major launch, LIV@MB, has an average psf price of S$2,582 based on 12 transactions this year. 

Here are Tembusu Grand’s indicative prices based on the developers:

(Note: Actual prices will vary according to the size and floor of the unit)

While Tembusu Grand’s indicative psf prices start from $2,296, average psf prices are most likely to be over $2,400.

As The Continuum will only launch for previews later in April, its indicative prices haven’t been released. However, we’d expect it to be higher than Tembusu Grand as it is freehold while the former is a 99-year project. 

The Continuum’s land cost of $1,440 psf per plot ratio is also higher than Tembusu Grand’s $1,302 psf per plot ratio. 

Expected TOP date: TBA
Nearest MRT: Lentor (252m, 4-min walk)
Primary schools within 1km: Anderson Primary School, CHIJ St. Nicholas Girls’ School (Primary) (some blocks)

Lentor Hills Residences is the second of 7 new condo sites to launch in the Lentor estate. Developed by GuocoLand, Intrepid Investments and TID Residential, the project is expected to have 595 units.

Residents living in Lentor can enjoy the convenience of the Thomson-East Coast line, which brings commuters to Orchard in 18 minutes and the CBD in 25 minutes. What’s more, the upcoming mixed-use development Lentor Modern nearby will have around 50 shops, including restaurants and cafes, as well as a supermarket and childcare centre.

Average price of new sale transactions in District 26

Before 2022, the average prices of new launch transactions in District 26 were around $1,300+ psf. But that changed in 2022 with the launch of Lentor Modern, which had an average price of $2,125 psf.

Lentor Modern’s average prices are unsurprising as it is an integrated mixed-use development linked to Lentor MRT station. Furthermore, the Thomson-East Coast line is a major factor in reducing travel time to the city.

As Lentor Hills Residences is about a 3-minute walk from Lentor Modern and Lentor MRT station, residents will also enjoy the same convenience as Lentor Modern. Hence, we foresee that the average prices will match Lentor Modern.

Blossoms By The Park (District 5)

There’s only been one new launch in District 5 this year, Terra Hill. Hence, the average psf price of $2,583 for new sale transactions in the district is mostly reflective of Terra Hill. 

Before Terra Hill’s launch, the average psf prices of new sale transactions in District 5 was S$1,847. However, this comprises mostly 99-year leasehold new launches like Parc Clematis, Normanton Park, Clavon and Kent Ridge Hill Residences. Terra Hill is a freehold development. 

The general rule is that freehold projects are typically priced 10-15 per cent more than 99-year leasehold projects. If we’re estimating Blossoms By The Park’s prices based on this, its average psf price would be around $2,196 to $2,325.  

The Reserve Residences (District 21) 

Expected TOP: 2026
Nearest MRT: Beauty World (259m, 4-min walk)
Primary schools within 1km: Pei Hwa Presbyterian Primary School, Methodist Girls’ School (Primary) and Bukit Timah Primary School

The Reserve Residences is an integrated and mixed-use development comprising 732 residential units of 1 to 5-bedroom types. Developed by Far East Organization and Sino Group, it will be connected to Beauty World MRT on the Downtown line via an underground pedestrian link. 

The project will revitalise the Beauty World area as it has 20,000 sqm of retail space, F&B outlets and office spaces. There will also be an integrated transport hub with a bus interchange. 

Residents can look forward to an array of amenities as The Reserve Residences will be within walking distance of several malls and popular eateries in Beauty World. The upcoming Bukit Timah Community Building will also have a market, hawker centre, community library and more.  

Average prices of new sale transactions in District 21

The average psf price of new sale transactions in District 21 in 2023 is S$2,104 (based on 12 transactions). This comprises new sales from condos launched more than two years ago, such as Forett @ Bukit Timah and Ki Residences At Brookvale. 

As the district hasn’t seen a new launch in more than two years, it’s hard to predict the average prices for The Reserve Residences. One way is to look at the average psf price of new sale transactions of 99-year projects in the RCR in 2023, which is currently around S$2,441. 

The last two new launches in District 21 were Ki Residences At Brookvale and The Linq @ Beauty World. The latter is a mixed-use development located right in front of Beauty World MRT, so it’s the closest to The Reserve Residences. It sold 96% of its units over the launch weekend in November 2020, at an average of S$2,150 to S$2,200 psf.  

Hence, it’s most likely that The Reserve Residences will fetch a higher price than The Linq. One thing to note, though, is that The Linq is a freehold development. 

Newport Residences (District 2)

Expected TOP: 2030
Nearest MRT: Prince Edward (328m, 5-min walk), Tanjong Pagar (436m, 7-min walk)
Primary schools within 1km: Cantonment Primary School

Located in Tanjong Pagar, Newport Residences is a redevelopment of the former Fuji Xerox Towers. The freehold mixed-use development will have 246 residential units of 1 to 4-bedroom configurations, including a super penthouse over 12,000 sq ft. Other than residential units, there will be serviced apartments, offices and restaurants. 

Residents can enjoy a view of the CBD as residential units will be on the 23rd to 44th storeys of the development, and the super penthouse will be on the 45th storey. A roof garden will give residents a view of the city and the sea. 

Besides having two MRT stations within walking distance, Newport Residences will be near several malls like 100AM Mall, Icon Village and Tanjong Pagar Plaza, and the upcoming Greater Southern Waterfront. 

Average prices of new sale transactions in District 2

District 2 has only seen two new launches in the past five years; One Bernam launched in May 2021, while Sky Everton launched in June 2019. 

The average price psf of the district in 2023 is $2,609, with all transactions from One Bernam. Sky Everton’s average price psf based on transactions over the past year, is $2,841. 

We predict that Newport Residences will match Sky Everton’s psf prices (or be even higher) as both projects are freehold compared to One Bernam, which has a 99-year lease. While Sky Everton is fully a residential development, Newport Residences is a mixed-use development, and hence, it’s highly likely to command a higher price. 

Other new launch condos to look forward to in 2023

Besides the ones on this list, check out other major new launch developments that are expected to launch later this year too:

• Grand Dunman (District 15)
• The Lakegarden Residences (District 22)
• Altura EC (District 23)
• Marina View Residences (District 1)
• TMW Maxwell (District 1)
• Skywaters Residences (District 1)
• Pinetree Hill (District 21)

ALSO READ: 35 new-launch condos near their ABSD deadline in 2023

 This article was first published in 99.co.