If you’re thinking of buying a condo in Singapore and have kept an eye on the market, you’ll know the past few years have been bumpy for Singapore’s residential real estate sector. We have seen higher interest rates, three rounds of government cooling measures in December 2021 September 2022, and April 2023, and the ‘small’ matter of the COVID-19 pandemic disrupting the construction sector.
But despite the pandemic, the market has proven to be incredibly resilient. According to Knight Frank, impressive growth rates of around 10% and 8.4% were recorded in 2021 and 2022, respectively. Greater growth is forecasted for 2023, with an anticipated 5% price increase expected.
Still, experts like Nicholas Keong, Head of Residential & Private Office, Knight Frank Singapore, are advising buyers to exercise patience before buying a condo in Singapore. He expects “more options to emerge in 2023, especially in the prime market through new projects launched by developers and new inventory put on as sellers expect tapered growth given the economic environment.”
Some 10,000 to 12,000 units, about 20% of which will be in the CCR, are expected the launch this year. Meanwhile, a further 2,000 units are set to be completed, providing more options for buyers who have been facing limited choices over the course of the pandemic.
For those who want to buy a condo in Singapore and are not sure where to start looking, we put together a list for you. In this article, we delve into the need-to-know details of six new award-winning new condo projects that look set to re-energise the condo market.
1. LIV @ MB by Bukit Sembawang Estates Limited
LIV @ MB is a highly sought-after residential enclave located in the Mountbatten area of Singapore’s District 15. The sprawling 140,000 sq ft site is dedicated to greenery and recreation, with lifestyle facilities catering to different age groups across three landscape decks, each with its own unique identity. With 230 units across 24 storeys, the 99-year leasehold property includes smart home and community systems and complimentary concierge services.
Location is also a key selling point. Mountbatten is surrounded by the vibrant enclaves of Marine Parade, Katong and Joo Chiat, exciting Kallang and the world-class arts and entertainment choices of Marina Bay. It is also in close proximity to the Central Business District (CBD).
In 2022, the Asia Property Awards (Singapore) (APA(S)) judging panel awarded the project Best Premium Condo Development and Best Premium Condo Interior Design.
Browse all LIV @ MB units for sale on PropertyGuru.
2. AMO Residence by UOL Group Limited, Singapore Land Group Limited, Kheng Leong Company
AMO Residence is the first large-scale condominium launch in the Ang Mo Kio/Upper Thomson vicinity in almost a decade and is already generating a buzz amongst the local community.
Amenities at the 372-unit development, set across two 25-storey towers, include a 50-metre lap pool, tennis court, gymnasium, and children’s play area, as well as a Smart Home Hub in each unit. Its ideal location – close to transport links, educational institutions, shopping malls, and food options – makes it an ideal long-term investment for families.
Moreover, the architecture and landscaping impressed the judging panel at last year’s APA(S), which awarded AMO Residence with the “Best Premium Condo Landscape Architectural Design” and “Best Premium Condo Architectural Design”, stating the “green setting with pools, in a north-south direction to make the most of natural ventilation, escape solar glare, and take in uninterrupted views”.
Co-developer UOL was the evening’s biggest winner taking home the coveted Best Developer alongside Best Transnational Developer and Best Hospitality Developer, as well as Best Hotel Development for Pan Pacific Orchard.
Browse all AMO Residence units for sale on PropertyGuru.
3. The Commodore by JBE Holdings Pte Ltd
Nestled between the Sembawang Spring Estate and the new Canberra Vista HDB, the 219-unit The Commodore is a 99-year leasehold property boasting family-friendly amenities.
These include a 50-metre lap pool, spa pool and children’s wading pool. The four- and five-bedroom ‘exclusive’ and ‘study’ units come with private lifts, ensuring residents’ privacy, and most bedrooms feature full-height windows, allowing ample natural light to enter. The Commodore is also surrounded by numerous amenities such as shopping malls, community centres, parks, and schools.
In 2022, the APA(S) judging panel recognised the project in the Best Private Condo Development, Best Private Condo Architectural Design and Best Private Condo Interior Design, noting that “the six towers are cleverly designed with full frontage all along living and dining spaces and private elevators”.
Browse all The Commodore units for sale on PropertyGuru.
4. Orchard Sophia by Orchard Sophia Pte Ltd
Orchard Sophia is a luxurious five-storey freehold condo located in District 9 on Sophia Road, formerly the site of Sophia Ville and Fairhaven. It is just a seven-minute walk from Dhoby Ghaut MRT Station, an interchange station for three MRT lines, providing residents with excellent accessibility to the CBD.
The development is surrounded by shopping malls such as ION Orchard, Orchard Central, 313@somerset, and Plaza Singapura. Nature lovers can also find respite in Mount Emily Park and Dhoby Ghaut Green. Residents can also enjoy a variety of dining options and even walk or cycle to work if working in the CBD.
The project won the prestigious Best Boutique Condo Development and Best Boutique Condo Interior Design awards at last year’s APA(S), with the judging panel lauding it as a “low-rise haven in an eclectic, cultural neighbourhood ideal for young professionals and small families”.
Browse all Orchard Sophia units for sale on PropertyGuru.
5. Tenet by TQS Development Pte Ltd
The next development on our list is an executive condominium (EC). Tenet, a 99-year leasehold EC in District 18 along Tampines Street 62, features 618 three- to five-bedroom units with flexible layouts suitable for young couples and large families. The development includes exceptional amenities such as a floating infinity pool and a glass-encased rooftop clubhouse.
Tenet is well-connected to transportation, business, and retail amenities in Tampines and Pasir Ris, offering residents a perfect balance of proximity to the central hub and a quieter environment on the outskirts of Tampines Central.
At the APA(S) 2022 awards, the judges praised Tenet for its “blossoming residential community, with communal facilities and greenery”, naming it Best Executive Condo Development.
Browse all Tenet units for sale on PropertyGuru.
6. The Watergardens at Canberra by UOL Group Limited, Singapore Land Group Limited, Kheng Leong Company
The Watergardens at Canberra is a nature-inspired development nestled in a landed enclave and spread across a vast area of about 300,000 square feet. It features 16 five-storey buildings with over 60 lifestyle facilities divided into three unique thematic zones: The Waters, The Gardens, and The Social.
Located in a rapidly developing area of the upcoming North Coast Innovation Corridor, the project provides easy access to Canberra Plaza and Canberra MRT station on the North-South Line within a five-minute walk. The upcoming North-South Corridor will further improve accessibility to the city within 20 to 35 minutes.
At the APA(S) 2022, the judges awarded The Watergardens at Canberra the Best Nature-Integrated Development award, commending it as a development that “balances nature, wellness, and lifestyle, peeking out of a landscape of tiered pools and layered gardens”. The co-developer UOL also received recognition in the Special Recognition in Sustainable Design and Construction and Special Recognition in ESG categories.
Browse all The Watergardens at Canberra units for sale on PropertyGuru.
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