IT HAS been quiet on the launches front in recent weeks, but several property launches, including some high-profile ones, are on the cards in the lead-up to Christmas.
The two-month Hungry Ghost Festival, which ends on Thursday, is a traditionally quiet one for real estate, but these days people are less superstitious about buying a property and there have been a few previews.
But things will click into high gear at the end of this month with property consultancy Savills Singapore expecting about 1,500 to 2,000 units to be launched in the fourth quarter.
'More mid-range properties will be out in the fourth quarter. There will be a lot more options. In the past 12 months, there were mostly high-end launches,' said ERA Singapore's vice-president of project marketing, Ms Doris Ong.
Home buyers can look forward to checking out the 99-year leasehold The Centris, a 610-unit condo on top of a bus interchange and a mall linked to the existing Jurong Point in Jurong West.
Units are expected to cost around $500 to $550 per sq ft (psf).
There is also the 131-unit freehold One St Michael's on Serangoon Road, which could cost about $600 psf, and the 472-unit freehold Ferraria Park in Flora Drive. Market sources tip that this will cost about $530 to $550 psf.
The only sizeable suburban condo released this year was the 625-unit The Quartz in Buangkok, where more than 100 units have been sold since mid-May.
Those looking for glamorous addresses can try leasehold projects such as the 400-unit condo in the Business and Financial Centre, a 394-unit Shenton Way project from City Developments (CDL) and a 256-unit Baywater Collection condo in Sentosa Cove.
Ho Bee could launch the 256-unit Sentosa Cove condo by early next month.
There will be a good mix of projects.
Other condos coming up include Wheelock Properties' 120-unit Ardmore II, The Pharos, a 175-unit freehold project by CDL in Jiak Kim Street, and a 380-unit, 99-year leasehold condo in Alexandra/Tiong Bahru Road.
United Overseas Land may also push out its 161-unit condo at Chay Yan Street during the quarter, market sources said.
Tiong Aik Group has already started a preview for its 120-unit The Inspira at Arnasalam Chetty Road. The project, which it recently marketed in Jakarta, is selling for $1,050 psf, sources said.
Recent previews have been held for the 65-unit The Acacias in Sommerville Road, the 49-unit Buckley 18 at Buckley Road and the 42-unit The Merlot at Keng Lee Road, said property consultancy CB Richard Ellis. All are freehold projects.
The one- to three-bedroom units at The Merlot are priced from $680 psf, units at The Acacias go for around $650 psf, while Buckley 18 costs about $1,300 psf.
joyceteo@sph.com.sg
