Sometimes, we find out about new launch condos that do not do well. There are times when we come across apartments approaching their ABSD deadlines, yet aren’t sold out yet.
And afterwards, there are those that make headlines for marketing actually well during the launch weekend break.
So today, we’re taking a look at new launch apartments that had a high take-up rate throughout the launch weekend in the past year.
Jervois Manor (99%).
Pasir Ris 8 (85%).
Canninghill Piers (77%).
Piccadilly Grand (77%).
Below’s the existing take-up price, according to URA’s regular monthly developer sales as of April 2022.
Job name Total number of systems introduced for sale Variety of unsold systems Take-up rate.
Jervois Mansion 105 1 99%.
Pasir Ris 8 487 52 89.3%.
Canninghill Piers 696 86 87.6%.
We also asked a couple of representatives on the ground for insights on the high take-up price. Based upon their reactions, generally, we can break down the factors into these 4 variables:.
Connectivity to the MRT (and also the mall).
Absence of brand-new launches in the location.
Eye-catching launch price.
Reward: Personal touch.
Connection to the MRT and the shopping mall.
Out of the four very successful projects we have actually provided, 3 of them are incorporated growths with straight connectivity to the MRT.
Canninghill Piers is connected to the Fort Canning MRT on the Midtown Line, while Piccadilly Grand is attached to the North-East Line using Farrer Park MRT.
Not only is Pasir Ris 8 linked to Pasir Ris MRT, however it has direct links to the bus interchange also.
On top of that, all 3 of them come with retail areas.
” These advancements have solid need as residents sustain the need for retail options. With that said, we are anticipating the next mixed-use advancement, which is Skies Eden @ Bedok by Frasers.”.
Jasmine Lau from PropNex added that the straight accessibility to the MRT for Piccadilly Grand makes it extremely easy to get to town. She specified that throughout the sneak peek of the new launch job, she was additionally travelling through Farrer Park MRT to conduct watchings that were near MRT terminals.
” Farrer Park MRT is a lot closer to Piccadilly Grand, than to City Square Residences as well as Sturdee Homes which are the various other 2 huge condos in front of the very same MRT.”.
Nizam Gafoor from PropNex clarified that provided Pasir Ris 8’s straight connectivity to the MRT as well as bus interchange, it’s a game-changer in Pasir Ris and also District 18.
” Beyond that, they have actually got a child care centre and a polyclinic there.”.
Lack of new launches in the area.
Another element that these brand-new launches share is the absence of competitors in the location.
According to Norman Koh from PropNex, one factor Canninghill Piers carried out so well was because of the lack of competitors for incorporated developments in the area.
As a matter of fact, there aren’t any brand-new launches in Area 6 in addition to this task.
This was additionally what Jasmine observed for Piccadilly Grand. It’s been a while given that a mid-sized condominium was launched in the location. The nearby Prosperous @ Farrer, completed in 2021, only consists of 116 devices, while Piccadilly Grand has 407 devices.
” There are very few units offered in apartments with complete centers, particularly in sizes with more than 400 units. Each condo is virtually more than one decade old.
” The TOP day (2026) is extremely appealing to many customers due to the fact that they will certainly gather their keys when the supply of brand-new condominiums is really little. So for investors, that’s an advantage.”.
Similarly, besides Parc Komo (which is about an 18-minute walk to the upcoming Loyang MRT), there have not been any brand-new launches in Pasir Ris, making Pasir Ris 8 an eye-catching buy. Before Parc Komo, the last brand-new launch was Casa Al Mare, which was completed in 2021.
Pasir Ris 8.
” So Pasir Ris 8 was extremely expected; people were anticipating it. And also plainly the only evident choice, either they go for a new launch or it has reached be a resale and resale devices were already a few years older,” discussed Nizam.
Eye-catching launch cost.
Agents we talked with also shared that a few of these projects were moderately priced, especially Pasir Ris 8 and Jervois Estate.
Nizam thought that the good take-up rate for Pasir Ris 8 inevitably come down to one factor: the very eye-catching launch cost. Prices for devices there had begun at S$ 1,400 psf.
Checking out our Researcher information, in the two months before the launch in July 2021, the average price psf for new sale condos in Pasir Ris has been hovering around S$ 1,300 to S$ 1,400.
Cost fad of new launch condos in Pasir Ris.
Ever since, the typical cost psf for these new sale condos has actually been floating around S$ 1,650. According to URA’s monthly programmer sales data for April 2022, the average price psf for Pasir Ris 8 based upon three deals in the month was S$ 1,618.
” If you look at it even today, I would certainly state there are lots of units that are extremely attractively priced,” claimed Nizam.
Rex also highlighted the extremely eye-catching cost of Jervois Manor throughout the preview.
” At that time, the prices were a lot more inexpensive compared to those of the nearby resale and also new launches.”.
Rates began at around S$ 2,200 psf. On the other hand, the average price of new sale apartments in Tanglin has been hovering around S$ 2,700 to S$ 2,900 a couple of months prior to Jervois Estate’s sneak peek as well as launch in October 2021.
Rate pattern of new launch apartments in Tanglin.
He included, “A 3-bedroom system in Jervois Estate, an estate, was valued a lot less than Mon Jervois, a 99-year leasehold, throughout the preview.”.
Between May and September 2021, the average price of a 3-bedroom at Mon Jervois was S$ 3.65 million. In contrast, the ordinary price of a 3-bedroom system at Jervois Manor was S$ 2.28 million during the launch month.
What interests note is that out of these four projects, one of them is from a small developer.
When it concerns brand-new launches, customers are usually extra drawn in to widely known developers to reduce danger. Larger designers additionally have a tendency to have more resources as well as a larger advertising and marketing spending plan.
So it’s noteworthy that Jervois Estate, coming from a little programmer (Kimen Real estate), generated a take-up rate of 99% during the launch weekend break.
Musician’s impression of Jervois Mansion.
Artist’s impression of Jervois Mansion.
Norman clarified that this was down to the distinct personal touch of the programmer.
” They’ve thought of a contemporary layout, yet keeping the success of the existing growth. The practical design, coupled with lush greenery, aids create a comfortable feeling.”.
( Writer’s note: the task was a redevelopment of Jervois Mansions.).
In addition to that, he shared that there was a strong focus on Jervois Mansion sitting on an unusual as well as large estate story.
” To sum up, I believe what attracted individuals in was just how well thought out the concept was.”.
What do you assume are the factors for the high take-up price for these brand-new launch apartments? Allow us know in the remarks area listed below or on our Facebook message.
If you discovered this article helpful, advises Lentor Central, Lentor Gardens as well as Lentor Hills Road (Parcel B) launched in 1H2022 GLS land sale and also The brand-new Shaw Tower has actually begun building, set to TOP in 2025.