Up To $400k In New Launch Condo Discounts: 10 New Launches With Discounts In 2023

Most of the time, new launch condos are cheaper at the start and get pricier as the units get sold out (classic demand and supply). It’s all part of the usual developer strategy, to entice early buyers with early bird prices to get the ball rolling.

(Although higher prices at the end are just due to the higher floor units that are left).

But every now and then, developers are left with a few units to clear or aren’t seeing strong enough interest. That’s when you may find prices are just as low – or perhaps even lower – compared to earlier phases (this could also be in reaction to the latest cooling measures). For those looking for some discounts in this market, here’s a collation of the latest that we could find:

10 Evelyn

Cairnhill16

Corals at Keppel Bay

Klimt Cairnhill

Leedon Green

Neu At Novena

One Draycott

One Pearl Bank

Perfect Ten

The Atelier

Note: Most of the following are prime region or otherwise higher-end condos. This is a market norm, as it’s the high-quantum units that are the slowest to move.

1. Perfect Ten

There are 10 units left at the luxurious Perfect Ten, and there’s a “Star Buy” discount ongoing. This is up to 12 per cent off, and all are two-bedders or two-bedroom penthouse units with one exception: there’s a sole remaining three-bedder penthouse unit on the list, going for $4,759,920 ($5.49 million before discount). 

The other two-bedders appear to be in the $2.7 million range, with the penthouse versions reaching $2.8 million to $2.9 million. 

Perfect Ten is within the Newton area, close to Balmoral Plaza. It’s reasonably close to Newton MRT (DTL, NSL), at around a 10-minute walk via Bukit Timah Road. Note that Newton is just one stop from Stevens MRT (DTL, TEL), so residents arguably have access to three train lines rather than just two. You can also walk to Stevens MRT, which is about the same distance away.

We can’t say Perfect Ten is the cheapest condo in the immediate vicinity; but it is certainly the newest kid with the latest bells and whistles on the block, with its infinity pool and standard unit ceiling heights of 3.23 metres.

One drawback to the location, however, is the lack of major malls and entertainment nearby. We can’t really count Balmoral Plaza, as its main contribution is just the NTUC supermarket and some food outlets; so you will have to travel out for your fun. 

This condo is for sticklers for high-quality interiors – if you’re big on the finishing, as well as bonus features like humidifiers and ceiling speakers, this will appeal to you.

2. The Atelier 

The Atelier is looking to move its last few units with up to a nine per cent discount. The remaining units seem to be shoebox units up to 550 sq. ft., all the way to family-sized units of 1,496 sq. ft.

We think the latter will gain attention, with prices dropping from $4,461,000 to $4,059,510. The single-bedders have mostly seen a decrease from around $1.6 million to $1.5 million; alright by District 9 standards, but a quantum that’s still rough for most new homeowners.

At any rate, one of the main highlights of Atelier is the bigger unit sizes (by new condo standards), so the larger units play to its strength. For those who remember, The Atelier didn’t exactly set the world alight in terms of sales when launched, but sales have picked up recently (perhaps because of the recent discounts), with the majority of the units now sold out.

The Atelier is roughly a 10+ minutes’ walk to Newton MRT (NSL, DTL), and is about the same distance to United Square Mall. You will find a Cold Storage and a Guardian pharmacy here, as well as various eats. You can walk further yet towards the Novena area and the malls (Novena Square, Royal Square) but you’ll probably need to head out somewhere else (perhaps Orchard, one train stop away) for bigger retail and recreation options. 

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3. One Draycott

One Draycott has a discount specific to Stack 3 (see the project layout for details). We understand the discount pertains to two-bedder units, and it’s reportedly up to $150,000, or entry prices of around $3,114 psf. We would expect a quantum of about $2.279 million, which is competitive for an Orchard area condo. 

One Draycott is more of a home buyer’s indulgence than any sort of investment; resale gains and rental get a bit volatile for boutique projects. And this is very much a boutique project, with just 64 units. You are in a quieter residential part of Orchard and among very prestigious neighbours (Ardmore Park, Sculptura Ardmore and the like). This could also have been an issue of a unit mix that isn’t very popular given its surroundings (just 1 and 2 bedders here), as most buyers looking to stay in the Draycott/Ardmore area will be those with deeper pockets that are willing to pay for more space.

That said, units feature the expected luxuries like private lifts and high-quality finishing, plus an easily enclosed kitchen. The project is around a five-minute drive to the Orchard shopping belt, which is pretty much the final word in amenities.

If you want to walk, you’ll reach the Orchard Road stretch starting at Palais Renaissance, in about seven minutes. 

For those interested in One Draycott, it’s worth noting that the current views across the ex-RGS land might not stick around forever. Under the URA Master Plan, the plot will mostly remain as Education, but a portion of it (along Draycott Park) will be residential developments with the same plot ratio of 2.8.

And from what we know, One Draycott paid up for the ABSD previously, so it doesn’t have a timeline constraint unlike some of the others on this list.

4. One Pearl Bank 

One Pearl Bank has 45 units left to move, and note that the show flat is closing soon (July 2023). We understand the two-bedders are seeing discounts of up to $18,000, the three-bedders up to $28,000, and the four-bedders up to $38,000. 

After discounts, would expect a quantum of just over $2.04 million for two-bedders, $3 million for three-bedders, and around $3.68 million for four-bedders. This may be a bit much for some buyers, however, when read in the context of the leasehold status. 

Still, we wouldn’t expect this project to be cheap, given it’s a redevelopment of an architectural icon (the former Pearl Bank from 1976), and its location within Chinatown. 

This is one of the most accessible condos to date, with access to four MRT lines:

Chinatown MRT (DTL, NEL) is about a seven-minute walk, while Outram Park MRT (EWL, NEL, and TEL) is about a minute’s walk away from the side gate, and perhaps 3 minutes from the main entrance (this will be sheltered). People’s Park Complex, with its myriad food options, is near the Chinatown MRT station; as are other malls like Chinatown Point. 

While Chinatown is inherently a congested and noisy area, there’s some retreat for residents; Pearl’s Hill Reservoir is just behind the development, and the area is a city park. 

We did take some issues with the internal layout of some units, which we feel is unique but perhaps not very efficient. This is subjective though, and there’s no denying the strength of the location.