For anyone out there whose HDB is approaching the five years old, congratulations! Crossing of the five-year mark means that your HDB has reached its minimum occupation period (MOP), which is the mandated period of time you’re required to live in your flat before you can sell or rent it out, or buy another private property.
In 2020 alone, an estimated 20,000 HDB flats will reach the end of the five-year MOP. If you’re an owner of one of these units (or an “HDB upgrader”), you can read about your post-MOP options here, or our cost breakdown of how much you need to save to upgrade your home.
For many, the completion of this milestone is a potential opportunity to sell their HDB home, cash in on a pot of gold, and use said sales proceeds to help them upgrade to a private property. New launch condos have always been a popular next-step, read on the find out why.
Why Buy A New Launch Condo?
Between the choice of new launch or resale condo, many HDB upgraders prefer new launch condos because from an investment perspective, new launch condos often offer faster capital appreciation.
Resale condos usually have immediate (or close to) availability, but they cost a significant premium. New launch condos, on the other hand, take a few years to complete, but are cheaper to buy.
Many developers offer early bird discounts for new launch buyers to compensate for the time “lost” while you wait for the condo to be built. Sometimes, the developer might even absorb some of the stamp duties for you.
That means that in the short few years leading up to completion, you would already be “making money” as the prices for the same project increases progressively as it approaches TOP.
Another reason why buying a new launch condo is popular among HDB upgraders is because of the range of choices made available to you. You get to pick units with much better features like better view or better location, with the caveat that you manage to get a good ballot number.
7 New Launch Condos to Watch Out for in Q4 2020
Sounds like a plan? Here are seven new launch condos to look forward to in the rest of 2020.
The Linq @ Beauty World
- Developer: BBR Holdings (S) Ltd
- Tenure: Freehold
- Location: Upper Bukit Timah Road
- District: 21
- TOP: 2023
- Price: $1,032,000 onwards
The Linq is a new launch freehold luxury condo that is located in Beauty World. It will be an integrated development that combines residential and commercial spaces with direct access to the Beauty World MRT on the Downtown Line (DTL). The Linq comes with the convenience of being in close proximity to a variety of facilities and is designed to give residents the ultimate modern city lifestyle.
Check out project details of The Linq to find out whether this is the right new launch condo to upgrade to.
Clavon
- Developer: UOL
- Tenure: 99-year
- Location: Clementi Ave 1
- District: 5
- TOP: 2024
- Price: $899,000 onwards
Clavon is a new launch condo that is strategically located in the mature estate of Clementi. Located within walking distance to Clementi MRT, Clavon offers great accessibility to lots of amenities for dining, entertainment and shopping. There are also a variety of top-quality educational institutions that are nearby the condo for families with kids.
Check out project details of Clavon to find out whether this is the right new launch condo to upgrade to.
Midtown Modern
- Developer: GuocoLand
- Tenure: 99-year
- Location: Tan Quee Lan Street
- District: 7
- TOP: 2024
- Price: $1,039,500 onwards
Midtown Modern is a mixed development condo that is well-placed in the prime city fringe location of District 7. Those living in Midtown Modern will enjoy a plethora of shopping destinations, restaurants, and lifestyle places in the vicinity at Bugis as well as the upcoming Guoco Midtown and Guoco Midtown II.
Check out project details of Midtown Modern to find out whether this is the right new launch condo to upgrade to.
One North Eden
- Developer: TID Residential (Joint Venture between Mitsui Fosudan and Hong Leong Holdings)
- Tenure: 99-year
- Location: One North Gateway
- District: 5
- TOP: 2024
One North Eden is an upcoming condo that will be located in the heart of District 5. Its location in the One-North region puts it in close proximity to the renowned One-North Business Park where global startups and technology firms are using as their headquarters. Entertainment, shopping and dining options are all within walking distance, which creates the ideal balance of work and leisure for residents.
Check out project details of One North Eden to find out whether this is the right new launch condo to upgrade to.
One Normanton Park
- Developer: Kingsford Huray Development
- Tenure: 99-year
- Location: Normanton Park
- District: 5
- TOP: Q4 2024
One Normanton Park is the reincarnation of the previous Normanton Park condo that was “en bloc-ed” for $830 million back in 2017. One Normanton Park offers homebuyers a residential home that boasts proximity to multiple business parks such as One-North Business District, Science Park and Mapletree Business City. It is also close to the nature where nature lovers can enjoy lush greenery and tranquillity at Kent Ridge Park. In addition, the upcoming Greater Southern Waterfront will make One Normanton Park even more desirable, both in terms of work and recreational facilities.
Parc Central Residences (EC)
- Developer: Hoi Hup Sunway Tampines J.V. Pte. Ltd. (Joint Venture between Hoi Hup Realty Pte Ltd and Sunway Developments Pte Ltd)
- Tenure: 99-year
- Location: Tampines Ave 10
- District: 18
- TOP: 2023
- Price: $845,000 onwards
Parc Central Residences is an executive condo (EC) that will be located at Tampines Town in District 18. Parc Central Residences finds itself nicely situated in heart of eastern Singapore, which will rejuvenated and upgraded as per URA’s Master Plan. As Tampines continue to develop, residents of Parc Central Residences can expect to enjoy more amenities in the Tampines neighbourhood.
Check out project details of Parc Central Residences to find out whether this is the right new launch condo to upgrade to.
Perfect Ten
- Developer: Japura Development Pte Ltd
- Tenure: Freehold
- Location: Bukit Timah Road
- District: 10
- TOP: 2024
Perfect Ten is a freehold condo that is located in the highly desirable District 10. Perfect Ten is the ideal home for those who are looking for a sought-after address that ensures quality of life with breath taking views and luxury interior. The condo is also well connected and guarantees accessibility to other parts of Singapore via public transport or personal vehicle.
If you prefer to buy a resale condo, here are some of the biggest condos in Singapore for you to consider. Alternatively, if you are looking for resale condos that are more affordable, you can also check out this article.
Step-by-step guide to buying a condo
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