2017 marks a year with the least number of new developments launching for sale. Albeit bad market sentiment, the saying goes – no matter how bad or good the market is, developers will continue to acquire new land continue continue building. Here’s a list of new condominium launches that will be coming up in the first half of 2017.
1. INZ Residence – Executive Condominium
Yet another new executive condominium by Qianjian Realty – INZ Residence is situated at Choa Chu Kang Avenue 5. The location is attractive for people who wants to break away from the our ever stressful life in the concrete jungle. It is however not within walking distance to Choa Chu Kang MRT but residents are still be able to enjoy amenities from the surrounding HDB estates and the upcoming major development of Tengah Town – See: http://www.todayonline.com/singapore/peek-tengah-next-new-hdb-town-size-bishan
As we’ve seen throughout 2016 and 2017, ECs tend to remain popular despite the softening market – the lure of private property, subsidised by the government, is still huge. There’s also a lot of room for capital appreciation, given the continued development of the Jurong Lake District.
2. The Clement Canopy
With UOL and Singland offering a top bid of $302.1 million for the land, the break-even price would be around $1,100 per square foot. This latest new development is joint venture by both UOL and Singland with over 460 units situated at Clementi Avenue 1. UOL is renowned for their exceptional interior finishes for their projects, with Nassim Park Residences as their masterpiece and also the most recent Thomson Three. For The Clement Canopy, we should expect quality finishes too.
What is at Clementi?
As a mature estate, Clementi has certainly seen loads of improvements over the past decade. The emergence of neighbourhood malls such as 321 Clementi and The Clementi Mall offers residents aplenty of amenities. It is also home to major tertiary institutions such as National University of Singapore (NUS), Singapore Polytechnic (SP) & Ngee Ann Polytechnic.
The first is that Clementi is a mature district, that has seen a lot of improvements over the past few years. The emergence of Clementi Mall, along with Star Vista and the neighbourhood IKEA, make it a convenient enclave. The Clementi 448 market and food centre, also provides good and affordable eateries.
Yet another new developement at Redhill MRT, Artra is expected to house over 400 residential units as well as a single storey of retail and commercial shops at the first floor. This 99-year leasehold project is expected to complete by 2011 and is of close proximity to the city. The recent launches there include – Alex Residences, Echelon & Ascentia Sky has units going for $1,600 to $1,700 per square foot. On this basis, along with Artra being new and close to the MRT stations – Arta is expected to be upward of $1,700 per square foot.