According to the PropertyGuru Singapore Property Market Report Q3 2023, $2,000 is likely the new starting median price per sq ft (PSF) norm for Q3 2023 major new condo launches.
And on the heels of the April 2023 property cooling measures, which raised Additional Buyer’s Stamp Duty (ABSD) rates, “buyers are becoming more judicious in their decisions. It’s likely they would channel their financial resources to only one property for own-stay purposes,” said Dr Tan Tee Khoon, Country Manager – Singapore, PropertyGuru.
That said, buyers seem to be turning out for major new condo launches that are near MRT stations, lifestyle amenities, and choice schools. So even with rising new condo launch prices, buyers may still be willing to bite the bullet on developments that hit all their criteria for a home.
Considering a new condo but not sure where to start? Check out our video guide on buying a condo in Singapore, then check out our guide for all the condos and executive condominiums (EC) that have launched in 2023, and the upcoming major new launch condos you can expect for the rest of 2023!
How to Buy a Condo in Singapore
Before we dive into the upcoming launches for the rest of 2023, here are the condos that have launched so far.
Condo Launches in 2023 So Far
Condo Launches Q1 2023
| Sceneca Residence | Bedok / Upper East Coast (D16) |
| Gems Ville | Eunos / Geylang / Paya Lebar (D14) |
| Terra Hill | Buona Vista / West Coast / Clementi New Town (D5) |
| The Botany at Dairy Farm | Dairy Farm / Bukit Panjang / Choa Chu Kang (D23) |
Read our review of how Q1 2023 major new condo launches performed.
Condo Launches Q2 2023
| Tembusu Grand | East Coast / Marine Parade (D15) |
| Blossoms By The Park | Buona Vista / West Coast / Clementi New Town (D5) |
| The Continuum | East Coast / Marine Parade (D15) |
| The Reserve Residences | Clementi Park / Upper Bukit Timah (D21) |
| Grange 1866 | Tanglin / Holland / Bukit Timah (D10) |
Read our review of how Q2 2023 major new condo launches performed.
Condo Launches Q3 2023 (as of 16 August 2023)
| Lentor Hills Residences | Mandai / Upper Thomson (D26) |
| The Myst | Dairy Farm / Bukit Panjang / Choa Chu Kang (D23) |
| Pinetree Hill | Clementi Park / Upper Bukit Timah (D21) |
| Grand Dunman | East Coast / Marine Parade (D15) |
| The LakeGarden Residences | Boon Lay / Jurong / Tuas (D22) |
| Altura (EC) | Dairy Farm / Bukit Panjang / Choa Chu Kang (D23) |
| The Arden | Dairy Farm / Bukit Panjang / Choa Chu Kang (D23) |
| Orchard Sophia | Orchard / River Valley (D9) |
| TMW Maxwell | Chinatown, Tanjong Pagar (D2) |
Now on to what we can expect for the rest of 2023!
Potential Upcoming Condo Launches in 2023
| Project name/land parcel | Region | Type of sale | Tenure | Developer |
| J’den | OCR | Government Land Sales (GLS) | 99-year lease | Capitaland Development (CDL) |
| Marina View | CCR | GLS | 99-year lease | FE Landmark Pte Ltd |
| Watten Estate Residences | CCR | Freehold | Freehold | UOL and Singland |
| La Ville | RCR | En bloc | Freehold | ZACD |
| Peace Centre | CCR | En bloc | 99-year lease | CEL and Singhaiyi |
| Newport Residences | CCR | Redevelopment | Freehold | Hong Leong Properties Pte Ltd |
| Shenton Way | CCR | Direct purchase | 99-year lease | Perennial Shengotn Property Pte Ltd |
| Amber Sea/Amber Green | RCR | En bloc | Freehold | Urban Park Pte Ltd (a subsidiary of Far East Organisation) |
| Former Realty Centre/Enggor Street | CCR | En bloc | Freehold | The Place Holdings Ltd.’s The Place Yuntai Investment Pte. Ltd. subsidiary and Sun Card Ltd |
| Haig Road | RCR | En bloc | Freehold | Nanshan Group |
| Golden Mile Complex | CCR | En bloc | 99-year lease | Far East Organisation + Perennial |
This list of upcoming condo launches in 2023 is extracted from the PropertyGuru Singapore Property Market Outlook 2023. It is not confirmed and developers may change or delay their plans.
1. J’den
| Name of condo | J’den |
| District | Boon Lay / Jurong / Tuas (D22) |
| Address | Jurong East Central |
| Tenure | 99-year lease |
| Expected number of units | 368 |
| Types of units available | 3-bedroom to 5-bedroom and penthouses |
| Developer | CDL |
| Estimated TOP date | 2028 |
On 6 August 2023, JCube, one of the series of iconic shopping centres near Jurong East MRT station – the others being JEM, Westgate, and IMM – closed for good. While many residents staying in the west of Singapore mourned the loss of the shopping centre, which had been built in 2012, others anticipated the major new condo launch that would take over the land it had sat on.
JCube’s developer, CapitalLand Development, has announced that it would be launching J’den, a 99-year leasehold mixed-use condominium that is 40 storeys high and features commercial space on its first two storeys, in H2 2023, on the same site JCube occupied. Slated to receive its TOP in 2027, residents of J’den can expect to be part of the upcoming Jurong Lake District (JLD), benefit from the Jurong Region Line (JRL), and other redevelopment plans in the west side of Singapore.
Browse Jurong East properties for sale on PropertyGuru.
2. Watten Estate Residences
| Name of condo | Watten Estate Residences |
| District | Newton / Novena (D11) |
| Address | Watten Rise |
| Tenure | Freehold |
| Expected number of units | 205 |
| Types of units available | 3-bedroom to 5-bedroom |
| Developer | UOL and SingLand |
| Estimated TOP date | 2026 |
An en bloc site of former Watten Estate condos, this upcoming development sits in the Bukit Timah landed enclave, in a low-density neighbourhood.
The current plan is to have eight blocks of five storeys each. Despite being tucked away in a private estate, Watten Estate Residences is just 700m from the nearest Tan Kah Kee MRT station.
Browse Watten Estate properties for sale on PropertyGuru.
3. Newport Residences
| Name of condo | Newport Residences |
| District | Chinatown / Tanjong Pagar (D2) |
| Address | Anson Road |
| Tenure | Freehold |
| Expected number of units | 246 |
| Types of units available | 1-bedroom to 4-bedroom and one super penthouse |
| Developer | Hong Leong Properties Pte Ltd |
| Estimated TOP date | 2030 |
The former Fuji Xerox Towers, a six-minute walk from Tanjong Pagar MRT station, is being redeveloped into a mixed-use building called Newport Tower (commercial) and Newport Residences (residential).
Newport Tower will constitute the first nine storeys of the building: the ground floor featuring restaurants, and the rest office space. Above it will sit Newport Residences, comprising service apartments and about 246 1-bedroom to 4-bedroom units.
Browse Tanjong Pagar properties for sale on PropertyGuru.
Buying a Condo: Will Condo Prices Rise in 2023?
The PropertyGuru Sale Price Index for non-landed private residential properties increased by 0.3% quarter-on-quarter (QoQ) in Q2 2023, compared to the 0.9% QoQ increase in Q1 2023. This suggests that prices are finally reaching a peak and may stabilise in the near future.
On the supply side, the latest Government Land Sales (GLS) programme list was announced on 21 June 2023, when the URA announced the 17 sites it would put up for tender soon. Dr Lee Nai Jia, Head of Real Estate Intelligence, Data and Software Solutions, PropertyGuru Group noted that the GLS H2 2023 sites “will result in an estimated total Confirmed List supply of around 9,250 units for the entirety of 2023 – the highest in the last ten years.”
More GLS sites means potentially more homes! And as buyers become more selective about their purchases and the government takes more action to redevelop different regions across Singapore, and we could see prices moderate further in the next two to three years.
Want to buy a condo but need help with home financing amid interest rate movements in 2023? Reach out to our PropertyGuru Finance Mortgage Experts, who can help guide you through financial planning for your dream home – best of all, their services are completely free!
Chat with us on Whatsapp
Fill up an online form
