6 New Launch Condos Launched In Nov 2024 Priced From $1.14m: Which Should You Pick?

Right after one of HDB’s biggest-ever launches in October this year, the private sector seems to be following up: as we’re writing this in November, there are 6 new launches that have been making the rounds – Chuan Park, Emerald of Katong, Nava Grove, Union Square Residences, Novo Place, and The Collective at One Sophia.

This has set off a keen competition between each project that’s vying for attention, and in an interesting turn of events, 2 projects (Chuan Park and Union Square Residences) have brought forward their official booking sales date earlier in a bid to get a headstart. That said, Union Square Residences and Novo Place in particular are at different ends of the sales spectrum – and it is very unlikely that a buyer for Novo Place would also be considering one at the luxury Union Square Residences.

In any case, that’s quite a lot of options at one go; so for home buyers who are in the market for new private homes, take a minute to know the key features of these latest projects:

Prices and balance units (as of November 2024)

1. Novo Place (EC)

Novo Place sticks out from the other five offerings because it’s an Executive Condominium (EC). We have a more extensive profile in this article, but the key points are:

• Novo Place is one of the uncommon ECs that’s within close walking distance of an MRT station: Tengah Park (JEL). While this is only operational in 2028, it’s close to Novo Place’s expected TOP in 2027 anyway.
• There are no small units (one or two-bedders) here. Novo Place has only three and four-bedders, so this is very clearly a family condo. 
• This is a GFA harmonisation project so sizes will be smaller than you would typically expect.

This is a mid-sized 504-unit project, which some might consider the sweet spot between reasonable maintenance fees, without overcrowded facilities. 

Just on the basis of being an EC, Novo Place is the cheapest among new launch options (assuming you meet the HDB eligibility requirements for ECs, which includes an income ceiling of $16,000 per month). With three-bedders starting at $1.29 million, this is a very comfortable range for most HDB upgraders.

That said, Tengah is so new that most amenities – barring outdoor ones – are going to come from the nearby Jurong East and Choa Chu Kang areas, for several years in the future.

That said, Novo Place is ideal for those looking at pure owner-occupancy or long-term resale gains, as it’s in the centre of a (future) neighbourhood hub. There’s also some good brand recognition from the developers lately: Hoi Hup/Sunway are also behind recent projects like The Continuum and Terra Hill. Parc Canberra, another of their ECs in a non-mature area, did quite well. 

Unit Mix

2. Chuan Park

This project is a redevelopment of the former Chuan Park from 1985, retaining the same name. It’s one of the larger new launches with 916 units, and expectations are very high for this launch. 

The first reason is that Chuan Park is the first new launch condo in the area in just over 11 years. Coupled with its location in Serangoon Central, demand is expected to be strong: Chuan Park is right next to Lorong Chuan MRT (CCL), which is just one stop from Serangoon station – that’s where you’ll find NEX, the biggest mall in District 19. 

(As a bonus, New Tech Park across the road also has a supermarket and food options, and is becoming a bit of a hang-out spot).

Due to how long it’s been, most of the surrounding resale condos are notably older than Chuan Park. The nearby Amaranda Gardens and Goldenhill are 20 years old, for example, while Chiltern Park is 29 years old. So whilst there are alternative resale options, Chuan Park is likely to have an edge given the age disparity. It’s also the largest condo in the area right now.

Chuan Park has a notable number of two-bedders starting from $1.5 million; almost as many as three-bedders starting from $2.1 million. This project could be viable as a rental asset, given the large number of tenants who’d love to stay so close to NEX. 

We’re also of the opinion that Chuan Park is reasonably priced for its two and three-bedders, but perhaps less so for the largest units like five-bedders; we have a more detailed price comparison with nearby resale options in this article. 

Given the available indicative price point and the much older surrounding competition, there has been a ton of interest in Chuan Park – judging from the queues to get into the show flat on the day of launch (up to 2 hours!).

Unit Mix

3. Emerald of Katong

The large, 846-unit Emerald of Katong forms a fourth challenger in the recently crowded District 15. It’s now one more alternative on top of recent launches like The Continuum, Tembusu Grand, and Grand Dunman. 

Emerald of Katong is a condo that can work for both own-stay use, and as a rental asset. It’s adjacent to the Canadian International School, and this particular stretch of the Katong/East Coast area is an established expatriate enclave. Being a large project, it’s also well-differentiated from many of the smaller boutique condos in the area: many of the existing resale projects are too small to include full-suite condo facilities or only have one tiny pool and gym. This gives Emerald of Katong quite the advantage, despite being less exclusive.

Emerald of Katong’s location is smack in the centre of a lifestyle hub: this stretch of East Coast Road is known for its eateries (both local and hipster), as well as family-friendly gastropubs and sports bars. It’s also jam-packed with supermarkets: the nearby Parkway Parade, as well as i12 Katong and Katong V, means Emerald is within walking distance to a Cold Storage, a Giant, and two NTUC outlets – on top of the retail options at Parkway Parade, the major mall for the area.

The schools here are also quite high profile: TKGS, Chung Cheng, and Haig Girls’ are all within a one-kilometre radius of the project. So this could work well for both own-stay uses, as well as rental. 

As an aside, it’s just a short drive to East Coast Beach from here, which may please some families.

This is also a post-harmonisation project, which is another point of difference against The Continuum, Tembusu Grand, and Grand Dunman. Many have also pointed to the cheaper land price than Sim Lian paid for the land ($1,069 psf for the plot, a price lower than nearby Tembusu Grand at $1,302 psf. What’s also interesting here is that Sim Lian’s bid of $828.8 million ($1,069 psf ppr) was just $800,000 (0.1%) higher than the $828 million ($1,068 psf ppr) by the next highest bidders, CDL and Frasers.

As such, indicative prices are competitive, especially when you look at the 2, 3, and 4-bedroom units. We will be releasing our detailed pricing review soon so do look out for that!

Unit Mix

4. Nava Grove

Those who missed out on Pinetree Hill may be interested in Nava Grove, which is just next door. Nava Grove is a 552-unit project, and whilst it’s right next to Pinetree, the competition is somewhat mitigated: Pinetree was the first new launch here in 14 years, while Nava Grove was launched two years later. Both are reasonably well differentiated by age compared to their surroundings.

The Pine Grove area, by the way, has some of the oldest condos in Singapore, such as Pandan Valley. As such, surrounding options are really much older, so you should expect a glaring price discrepancy versus resale. 

The developer chose to elevate the land plot – an expensive move – so Nava Grove is three to six storeys above Ulu Pandan Road. This doesn’t just prevent road noise, it also provides a better view of the nearby Clementi and Dover forest areas. And whilst you do need a bus connection to get to Clementi MRT, the presence of the large Clementi Mall (coupled with schools like Singapore Polytechnic at Dover and a free shuttle for the first 18 months) mostly make up for this.

Nava Grove also offers some dual-key options for its four-bedders, which can be good for extended families. The developer also devoted 80 per cent of the land parcel to common areas and landscaping, which ensures good spacing between its three blocks, and a feel of lower-density living.

Unit Mix

5. Union Square Residences

This was formerly Central Square, near the commercial shophouses and Havelock II Mall. It’s now a small (366-unit) mixed-use condo, sitting within the Clarke Quay area. The location is the most immediate draw, as the project is within walking distance of Clarke Quay MRT station (NEL), as well as nearby Chinatown. It also will be the first project in the Singapore River Planning Area under URA’s Strategic Development Incentive Scheme (attaining a GFA uplift of 67 per cent).

Note that the commercial component includes office spaces, as well as some conserved commercial shophouses. This is somewhat close to being an integrated project (besides the direct MRT connection), as it will have 134 co-living rooms, 65 F&B and commercial outlets, and Grade A offices).

Union Square Residences has obvious appeal to tenants: its proximity to Chinatown and the CBD, as well as Singapore’s nightlife, makes this one of the most highly rentable locations to date. It’s also immensely convenient, as you have the train station, numerous eateries, and all the CBD area amenities nearby; several of which are open at all hours. 

For own-stay use, it might work for hardcore urbanites or young professionals. It’s not a typical family condo though, as it’s in a densely-packed area with only one school within priority enrolment distance (Outram Secondary). As for greenery, there’s not much of it nearby, unless Hong Lim Park and gazing out at the Singapore River suffices for you. 

This is also reflected in the unit mix, with the bulk of units being one and two-bedders. For young couples though, a price tag of just under $2 million (two-bedder) could be appealing, given this is a way to live near the city centre and our nightlife scene. The facilities are also one for those looking for a more luxurious factor, with a sky pool, gym, and dining club on the 34th floor of the development.

Given the success of another CDL project, Canninghill Piers nearby, it wouldn’t be unreasonable to expect them to get this one right as well.

Unit Mix

6. The Collective @ One Sophia

This was the former Peace Centre/Peace Mansion. All the old seedy KTVs are now gone, and the surroundings have cleaned up quite a bit. The Collective is a small (367-unit) project that’s on the fringe of the Orchard area: you can walk all the way to Plaza Singapura Mall here, although it’s a bit of a long stroll. 

(Walking to Plaza Singapura also gives you access to the Dhoby Ghaut MRT station).

Otherwise, The Collective is close to Bencoolen MRT Station (DTL) or Bras Basah MRT Station (CCL). The immediate surroundings are one of the cultural hubs of Singapore: besides Bras Basah Complex, which has long been a hub for local artists, SOTA is nearby, as are LaSalle College of the Arts and NAFA. It’s also possible to walk over to colourful Little India from here; so coupled with proximity to Orchard, this is a very interesting place to live. 

There’s also a “stealth amenity” here that doesn’t show up on some brochures: Waterloo Centre has a collection of interesting niche shops and services (e.g., specialised shops for serious bicyclists, diorama makers, dance collectives, and so forth). It’s also got a good coffee shop right downstairs, and we’d say it’s a better amenity than ParkLane next door, or Sunshine Plaza nearby. 

The nearby Prinsep Place provides a lot of pubs or late-night spots to hang around, and there’s no shortage of food options. Also note the proximity to SMU, which could be helpful for students (or to rent to students with a bigger budget). 

Overall, this is like a location that’s “secretly Orchard,” because of how close it is to the main shopping belt; even though this area is more artsy and less upscale. The natural tradeoff is the noise, traffic, and lack of greenery. 

Unit Mix