6 New Launch Condos With Actual Price Decreases In 2021
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Ryan J
- August 14, 2021
- 8 min read
8 min read
The news is rife about Pasir Ris 8, and it may seem like prices are only going one way – up. Amid all the positivity, however, we have a little beacon of hope: some projects have seen lowered, rather than raised, prices at their new launches. While there’s never a guarantee of a discount, here are some places where we’ve seen suggestions of it happening:
A note on how we determined the price movements
For all of the following, we took every effort to track prices among similar units, on a similar floor or lower (using higher floor units, or units with a very different layout, can give a misleading impression on whether they’re being sold at a lower price). There may also be some distortions from returned units; these are cases where the booking fee was made, but the transaction still failed for some reason. These units may go back up for sale at a lower price.
Developers also change their pricing decisions from time to time, and there are many variables at work; a corner unit may not see any discounts, even as others on the same floor are being priced to move.
As such, we cannot guarantee that you will receive a lower price; but we can provide an indicator – based on existing transaction data – on where price dips have been seen.
New launches that have seen lowered prices in Q2 2021:
1. Park Colonial
Location: Woodleigh Lane (District 13)
Developer: CEL Unique Development Pte. Ltd.
Lease: 99-years
TOP: 2022
Number of units: 805
| Project Name | Price | Size (sqft) | $PSF | Sale Date | Address | % Decrease |
| PARK COLONIAL | $978,120 | 463 | $2,113 | 5-May-2021 | 8 WOODLEIGH LANE #11-37 | -0.70% |
| PARK COLONIAL | $985,000 | 463 | $2,128 | 21-Mar-2021 | 8 WOODLEIGH LANE #10-37 |
Profile:
Park Colonial is neck-and-neck with Woodleigh Residences, which is just across the road. Both these properties are next to Woodleigh MRT station; and given their proximity, you can consider the commercial elements of Woodleigh Residences to also benefit Park Colonial.
For more extensive retail needs, NEX megamall is just an eight-minute drive from this development. On top of this, the Stamford American School is directly behind Park Colonial, which makes this highly rentable real estate.
While this is one of the best-located properties in District 13, everything we say about Park Colonial can reasonably apply to Woodleigh Residences as well. We suspect that apparent dip in prices may also be due to this head-to-head competition, and might tip buyers in Park Colonial’s favour. Note that the average price for Park Colonial ($1,930 psf) is currently much lower than Woodleigh Residences (about $2,142 psf).
While Park Colonial holds the advantage in pricing, other factors – such as unit layouts and facilities – boil down to personal and subjective evaluation.
2. The Hyde
Location: Balmoral Road (District 10)
Developer: Aurum Land Pte. Ltd.
Lease: Freehold
TOP: 2022
Number of units: 117
| Project Name | Price | Size (sqft) | $PSF | Sale Date | Address | % Decrease |
| THE HYDE | $2,118,000 | 775 | $2,733 | 18-Jun-2021 | 11 BALMORAL ROAD #06-07 | -3.87% |
| THE HYDE | $2,203,000 | 775 | $2,843 | 15-Jan-2021 | 11 BALMORAL ROAD #04-07 |
Profile:
It’s always a tougher fight for boutique new launches in terms of buyer awareness, even despite how differentiated the offering may be. The Hyde does face a very immediate competitor too, in Sloane Residences.
That said, affluent homeowners will consider The Hyde as a breath of fresh air. This small development is located just off Balmoral Road, which spares it from the nightmare traffic congestions of Newton Circus. It’s also facing more greenery and doesn’t have the heavy, glass-and-concrete ambience of The Atelier and Kopar.
In terms of location, The Hyde is less than a seven drive to the Orchard area. The closest major malls, such as Far East Plaza, are just a five-minute drive away.
There is a price on this exclusivity. The two-bedder units, from 678 to 818 sq. ft., can run up a total price of up to $1.88 million. However, this is broadly within the norms for a home so close to Orchard (and in this area, freehold status is mostly a given). Coupled with what seems to be downward price tweaks, this is still worth a look, for anyone in the luxury market.
3. Riverfront Residences
Location: Hougang Avenue 7 (District 19)
Developer: Rio Casa Venture Pte. Ltd.
Lease: 99-years
TOP: 2024
Number of units: 1,472
| Project Name | Price | Size (sqft) | $PSF | Sale Date | Address | % Decrease |
| RIVERFRONT RESIDENCES | $1,811,272 | 1,410 | $1,285 | 14-May-2021 | 45 HOUGANG AVENUE 7 #07-28 | -1.23% |
| RIVERFRONT RESIDENCES | $1,834,200 | 1,410 | $1,301 | 1-Mar-2021 | 45 HOUGANG AVENUE 7 #07-28 | |
| RIVERFRONT RESIDENCES | $1,265,098 | 915 | $1,383 | 16-Jun-2021 | 51 HOUGANG AVENUE 7 #15-59 | -1.21% |
| RIVERFRONT RESIDENCES | $1,281,112 | 915 | $1,400 | 10-Feb-2021 | 51 HOUGANG AVENUE 7 #15-59 | |
| RIVERFRONT RESIDENCES | $1,270,036 | 915 | $1,388 | 9-Jun-2021 | 51 HOUGANG AVENUE 7 #13-59 | -1.28% |
| RIVERFRONT RESIDENCES | $1,286,112 | 915 | $1,406 | 27-Feb-2021 | 51 HOUGANG AVENUE 7 #13-59 |
Profile:
Riverfront Residences is known for having some of the cheapest three-bedder units, as of 2021. The 872 sq. ft. units here average $1,341 psf, with an average quantum of $1,169,509. Bear in mind this isn’t some EC we’re talking about, this is a fully private project! Of course, bear in mind this is a really compact 3 bedroom unit – there’s no yard or helper’s room (something most families require).
As you might expect from the low price point, this is a mega-development, with 1,472 units. However, the density is offset by the location, which faces the greenery and waterfront views of the Serangoon River (hence the name).
While immediate amenities are sparse, and there’s no MRT within walking distance, this condo is just a six-minute drive to Hougang Mall.
You can consider a more affordable alternative to Bukit Timah-esque condos, which emphasise scenic views and quiet; but you get this at a much lower price point typical of such enclaves. Buyers who want across-the-road amenities, however, might consider the location too secluded.
4. Affinity at Serangoon
Location: Serangoon North Ave.1 (District 19)
Developer: Oxley Serangoon Pte. Ltd.
Lease: 99-years
TOP: 2024
Number of units: 1,052
| Project Name | Price | Size (sqft) | $PSF | Sale Date | Address | % Decrease |
| AFFINITY AT SERANGOON | $2,293,086 | 1,453 | $1,578 | 27-Apr-2021 | 20 SERANGOON NORTH AVENUE 1 #13-15 | -1.25% |
| AFFINITY AT SERANGOON | $2,322,112 | 1,453 | $1,598 | 20-Jan-2021 | 20 SERANGOON NORTH AVENUE 1 #13-15 | |
| AFFINITY AT SERANGOON | $1,389,960 | 850 | $1,635 | 26-May-2021 | 20 SERANGOON NORTH AVENUE 1 #09-16 | -0.49% |
| AFFINITY AT SERANGOON | $1,397,000 | 850 | $1,643 | 21-Mar-2021 | 20 SERANGOON NORTH AVENUE 1 #08-16 | |
| AFFINITY AT SERANGOON | $1,364,160 | 850 | $1,604 | 18-May-2021 | 20 SERANGOON NORTH AVENUE 1 #07-16 | -1.11% |
| AFFINITY AT SERANGOON | $1,379,000 | 850 | $1,622 | 20-Mar-2021 | 20 SERANGOON NORTH AVENUE 1 #05-16 | |
| AFFINITY AT SERANGOON | $1,789,920 | 1,152 | $1,554 | 3-Apr-2021 | 20 SERANGOON NORTH AVENUE 1 #11-20 | -0.70% |
| AFFINITY AT SERANGOON | $1,803,000 | 1,152 | $1,565 | 29-Mar-2021 | 20 SERANGOON NORTH AVENUE 1 #10-20 |
Profile:
Affinity at Serangoon is a mega-development, which includes 40 landed units.
This is one of the headline developments in District 19, and it’s especially noted for proximity to Serangoon Garden (this is a lifestyle hub, where the famous Chomp Chomp food centre is located). This area is just around an eight-minute drive. Serangoon Nex, the iconic mega-mall for District 19, is also about the same distance away.
One complaint about the area, however, is the lack of MRT access by foot. The completion of Serangoon North MRT station may fix this (it will be 10 minutes away on foot), but the station will only be up in 2029; around five years after Affinity’s TOP.
Nonetheless, this is currently one of the best known and heavily marketed properties in District 19; and we are surprised to see some lower prices.
5. Meyer Mansion
Location: 79 Meyer Road (District 15)
Developer: Meyer Mansion Pte. Ltd.
Lease: Freehold
TOP: 2024
Number of units: 200
| Project Name | Price | Size (sqft) | $PSF | Sale Date | Address | % Decrease |
| MEYER MANSION | $4,613,000 | 1,765 | $2,613 | 6-Apr-2021 | 79 MEYER ROAD #18-07 | -0.53% |
| MEYER MANSION | $4,638,100 | 1,765 | $2,627 | 29-Mar-2021 | 79 MEYER ROAD #17-07 |
Profile:
Meyer Mansion is another in a line-up of luxury condos, which characterise District 15. This development stands out for its seafront view, as well as a view facing the area’s landed enclaves. Along with this, you get the usual luxury condo features like private lifts, and top of the line furnishings.
A nice bonus for Meyer Mansion is that Katong Park MRT station, which will be up in 2023 (before the TOP date), is just an eight-minute walk. Low-density housing areas are usually further from public transport nodes, so this is a pleasant exception.
Amenities wise, you do need to drive. Most of what you need will be in the area of Parkway Parade and i12 Katong, which is a seven-minute drive. There’s little in the immediate vicinity, which is the price of exclusivity.
This condo is mostly an indulgence for pure homeowners; we don’t see many investors being interested, given the sheer number of luxury condos already in the area.
6. Ola (Executive Condominium)
Location: Anchorvale Crescent (District 19)
Developer: Rivia Real Estate (8) Pte. Ltd., Gamuda (Singapore) Pte. Ltd.
Lease: 99-years
TOP: 2026
Number of units: 548
| Project Name | Price | Size (sqft) | $PSF | Sale Date | Address | % Decrease |
| OLA | $1,039,000 | 926 | $1,122 | 3-Jun-2021 | 70 ANCHORVALE CRESCENT #11-01 | -0.53% |
| OLA | $1,044,000 | 926 | $1,128 | 3-Jan-2021 | 70 ANCHORVALE CRESCENT #10-01 | |
| OLA | $1,336,112 | 1,055 | $1,267 | 18-May-2021 | 80 ANCHORVALE CRESCENT #13-22 | -2.31% |
| OLA | $1,368,112 | 1,055 | $1,297 | 15-Mar-2021 | 80 ANCHORVALE CRESCENT #12-22 | |
| OLA | $1,179,112 | 1,055 | $1,118 | 25-Apr-2021 | 80 ANCHORVALE CRESCENT #13-24 | -0.18% |
| OLA | $1,181,000 | 1,055 | $1,120 | 15-Mar-2021 | 80 ANCHORVALE CRESCENT #12-24 | |
| OLA | $1,487,612 | 1,389 | $1,071 | 15-May-2021 | 70 ANCHORVALE CRESCENT #02-03 | -0.37% |
| OLA | $1,493,112 | 1,389 | $1,075 | 23-Feb-2021 | 70 ANCHORVALE CRESCENT #01-03 | |
| OLA | $1,188,000 | 1,001 | $1,187 | 16-May-2021 | 84 ANCHORVALE CRESCENT #03-30 | -2.22% |
| OLA | $1,215,000 | 1,001 | $1,214 | 15-Jan-2021 | 84 ANCHORVALE CRESCENT #01-30 |
Profile:
Ola is Singapore’s first luxury EC, which up till now isn’t a term we’ve heard before. While most people assume this just means “expensive”, the price point of around $1,156 psf is still considered within the realms of affordability – and the recent dips we’ve noticed further show Ola isn’t really that pricey (perhaps using the term “luxury” backfired a little here!)
Being in Sengkang, and far from an MRT station, the developer made a wise choice not to bank on the location alone. This is frankly quite a sparse area, with few amenities. So instead, Ola packs as much lifestyle and entertainment as it can into its own grounds, with a heavy emphasis on organised events, classes, and recreational areas. There’s even a tie-in with Real Madrid’s football school, for the children.
Ola still won’t appeal to those who absolutely must have an MRT station or mall nearby; but it is one of the more interesting places to live in Sengkang.
Don’t be too quick to dismiss all new launches as raising prices
If you have any particular developments you’re eyeing, do let us know on Stacked, and we can help you with finding the best value. In the meantime, do check out our full-length reviews of new and resale properties alike.
Correction notice (16 August 2021)
We have received some feedback from readers on the previous version of the article, where 3 developments mentioned had lower prices on the 2nd level compared to the 1st.
A mistake was made to assume that a lower price on the 2nd floor compared to the 1st floor indicates that prices likely fell. This is untrue in most cases. According to our analysis of new launch transactions from 2016, 2nd floor units tend to transact lower than 1st floor units within the same stack. This could be due to reasons such as the ground level units having higher ceilings, but it’s not reflected in the size of the unit.
To improve the clarity of this article, we have removed these 3 developments.
Correction notice (23 August 2021)
We have removed Parc Central Residences EC as we learned that the drop in prices were a result of a change in payment plans.
We would like to thank all readers for their feedback in ensuring Stacked remains a reliable source of information and apologise for any inconvenience caused.
