While suburban condos have been fuelling sales in recent weeks, upmarket condos are expected to take the limelight with the upcoming launch of a handful of such projects, said media reports.
Among them are Wing Tai’s The Crest located near Jervois Road and Keppel Land’s The Highline Residences in Kim Tiam Road.
Keppel Land’s 99-year leasehold condo project is expected to have 500 units, with prices will likely range between $1,700 psf and $1,900 psf. The development targets professionals and expatriates, given its location in Tiong Bahru.
Also expected to go on sale are mixed development City Gate in Beach Road, which is jointly developed by World Class Land and Fragrance Group, and the 3.67 million sq ft Marina One jointly developed by Temasek Holdings and Khazanah Nasional.
Alice Tan, Research Head at Knight Frank, expects most condos to launch after the school holidays, perhaps in the middle of July.
City Gate is expected to launch sooner as it may hold a preview by end-June with a release next month.
CBRE’s Research Head Desmond Sim noted that buyers should not expect other developers to do the same as they would not want to “cannibalise” each other.
He added, “Some projects are prepared to launch… but there is no point in challenging for the same slice of the demand pie.”
Credits: Property Guru