2021 has come and gone, and still, the COVID-19 pandemic drags on. That has not, however, dampened residential property buyers’ appetite, with demand remaining strong and prices continuing to creep upwards.
To find out about the state of the residential property market, check out PropertyGuru’s Singapore Property Market Report Q1 2022 – Powered by PropertyGuru DataSense.
Q4 2021 saw an interesting reversal of trends from earlier in the year. While private residential property buyers in the previous quarter opted overwhelmingly for condos located in the Outside Central Region (OCR), in Q4 2021, half of the top 10 condos were located in the Core Central Region (CCR) and Rest of Central Region (RCR), indicating a renewed enthusiasm for more centrally-located areas.
10 Best-selling Projects in Q4 2021
1. Caninghill Piers: Luxury in the Heart of the City
Integrated development Canninghill Piers, which was launched in November 2021, will be located in the heart of party and entertainment district Clarke Quay. 538 units were snapped up at the launch weekend.
The 99-year leasehold development, which is expected to receive its Temporary Occupation Permit (TOP) in 2025, will include a commercial portion consisting of Canninghill Square, which will host F&B and retail outlets, as well as a 475-room hotel by Moxy Hotels – Marriott, and a 192-unit serviced residence by The Ascott.
Located on the site of the former Liang Court in District 6, Canninghill Piers will be right next door to Fort Canning MRT on the Downtown Line. Other stations within walking distance include Clarke Quay, Dhoby Ghaut and City Hall.
Browse all Canninghill Piers units for sale on PropertyGuru.
2. Normanton Park: Great City-fringe Location
Normanton Park has been on the bestseller list for much of 2021 ever since it sold 600 units at its launch, with buyers expecting the TOP at the end of 2023.
The 99-year leasehold development, which comprises 1,840 residential units, 22 strata terrace houses and eight commercial units, will be located near the tech hubs at Science Park and One North, as well as the National University of Singapore, making it ideal for those who work in the area.
Closest MRT station Kent Ridge is about 16 minutes’ walk away, and the development will also be located a short walking distance from the scenic Kent Ridge Park. The condo also overlooks the AYE, which offers quick access by car to the city centre.
Browse all Normanton Park units for sale on PropertyGuru.
3. Dairy Farm Residences: Close to Lush Greenery
The only development on this list in the west of Singapore is Dairy Farm Residences, a 99-year leasehold condo on Dairy Farm Road in District 23, located a stone’s throw from the scenic Dairy Farm Nature Park. Its TOP is expected in 2024.
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The 460-unit mixed-use development combines the upcoming Dairy Farm Shopping Mall with residential units and condo facilities.
The nearest MRT station, Hillview, will be about 20 minutes’ walk away, and the development is located close to the German European School Singapore and private institution Saint Francis Methodist School, which could make it popular with foreign tenants.
Browse all Dairy Farm Residences units for sale on PropertyGuru.
4. The Commodore: Affordable Units for Singles
The Commodore is a low-rise condo development on Canberra Drive in District 27. With only 219 units in six residential blocks up for grabs, the 99-leasehold development proved a hit at its launch, where 162 units, translating to 70% of the total units, were sold.
All the one- and two-bedroom units have been sold, probably due to their wallet-friendly prices, starting from $700,000, and demand from singles and couples without children. Buyers are expecting to receive their TOP at the end of 2024.
The development will be located less than 10 minutes’ walk from Canberra MRT, which will offer a direct connection to Raffles Place in the CBD via the North South Line.
Will Canberra MRT Kickstart A Property Fairytale?
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Browse all The Commodore units for sale on PropertyGuru.
5. Parc Greenwich: Wellness-themed EC
Executive Condominium (EC) Parc Greenwich will be located on Fernvale Lane in District 28, a stone’s throw from the Seletar Hills estate. Fernvale LRT will be about 15 minutes’ walk away, and connects to the MRT network via Sengkang MRT station. The development is expected to receive its TOP in 2026.
Despite the far-flung location, Parc Greenwich has, like many EC projects, proven popular with Singaporean buyers who wish to benefit from government grants.
The development will feature a wellness theme and include facilities like a three-storey Wellness Club, as well as smart home systems installed in each unit.
Browse all Parc Greenwich units for sale on PropertyGuru.
6. Jervois Mansion: Low-rise Luxury in a GCB Enclave
99% of units at freehold development Jervois Mansion were snapped up by the end of its official launch. The exclusive 130-unit low-rise development, whose TOP is scheduled for 2026, will consist of five-storey blocks.
Located at Jervois Close in the River Valley area, the District 10 development will be located in an affluent Good Class Bungalow (GCB) enclave, with the closest MRT station, Great World, being located about 17 minutes’ walk away.
Jervois Mansion will be Singapore’s first private residential development to be awarded the Building and Construction Authority’s Green Mark GoldPLUS Super Low Energy Residential Building rating.
Browse all Jervois Mansion units for sale on PropertyGuru.
7. The Florence Residences: Affordable Entry-level Condo
99-year leasehold condo The Florence Residences, which is expected to receive its TOP in 2023, offers HDB upgraders affordable entry-level condo units with smaller ones priced at under $700,000.
Located on Hougang Avenue 2 in District 19, the development is a huge one comprising 1,410 units spread out over nine 18-storey blocks.
The development will be located about 15 minutes’ walk from Hougang MRT and Kovan MRT stations, as well as a stone’s throw from the Hougang ActiveSG Stadium and Sports Centre.
Browse all The Florence Residences units for sale on PropertyGuru.
8. Mori: Affordable City-fringe Freehold Condo
Located in District 14, Mori is a freehold condo development scheduled to receive its TOP in 2026. During its launch, it sold 61 out of 137 units. The 137-unit, single block project is 500m and 700m away from Mountbatten and Aljunied MRT stations, giving residents easy access to the East-West and Circle Lines.
The Singapore Sports Hub is also within walking distance, offering future residents a multitude of sports, dining, and entertainment options. Plenty of trendy bars and chic cafes in the Paya Lebar/Geylang/Joo Chiat area are accessible by foot or a short bus ride.
Browse all Mori units for sale on PropertyGuru.
9. Leedon Green: Near Popular Schools
Located at Leedon Heights on the corner of Farrer Road and Holland Road, Leedon Green is a District 10 freehold condo development, which is scheduled for TOP in 2023.
The project has proven a hit with affluent buyers, selling almost a third of units during its launch weekend in 2019. It is about 18 minutes’ walk from both Holland Village and Farrer Road MRT stations.
Via Holland Road, the development enjoys easy access to the Orchard Road shopping district and the Holland Village enclave. It is also located less than 10 minutes’ drive from choice schools in the Bukit Timah area, including Hwa Chong Institution, Singapore Chinese Girls’ School and Methodist Girls’ School.
Browse all Leedon Green units for sale on PropertyGuru.
10. The Avenir: Freehold Luxury Development in City Centre
Luxury freehold development The Avenir, which is scheduled for TPO in 2023, will be located at River Valley Close in District 9, within 10 minutes’ walking distance of the Orchard Road shopping belt. Raffles Place in the CBD is about 30 minutes’ walk away.
The development is also located a stone’s throw from popular lifestyle destination Robertson Quay and Great World City. The nearest MRT station, Great World, will be about 9 minutes’ walk away. Other MRT stations within walking distance include Somerset and Fort Canning.
Browse all The Avenir units for sale on PropertyGuru.
Which Condo Should You Buy?
In 2022, it is likely that Singapore will start to ease COVID-19 restrictions, which could see more residents heading to the city centre for work and leisure. For those who wish to enjoy a central location, projects in or close to the CCR such as Canninghill Piers, Jervois Mansion and The Avenir would be good choices.
For those whose workplaces intend to retain work-from-home practices and who wish to opt for a more spacious home, entry-level condos in the OCR such as The Commodore and The Florence Residence are wallet-friendly options.
If you can’t wait for these new launch condos to TOP, check out these condos which will receive their TOP in 2022, or browse all resale condos for sale on PropertyGuru.
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This article is written by Joanne Poh. Joanne writes about property and personal finance, and also creates content for banks and insurers. A former real estate lawyer, she now spends her free time compulsively learning languages and roller skating in carparks.