For much of the pandemic, private home prices have been going up; Q2 2022 was not an exception. After a quiet Q1 2022, major launches for the quarter, Liv @ MB and Piccadilly Grand, performed well. Liv @ MB sold over 75% of its units on its launch weekend, while Piccadilly Grand moved 77% of its units on its launch weekend.
What can we expect next from the private property market? If the stellar performance of AMO Residence in July 2022 is anything to go by, we’re expecting a robust Q3 2022 for the non-landed private property market.
The PropertyGuru Singapore Property Market Report Q3 2022 revealed that the Rest of Central Region (RCR) was the main price driver for non-landed private property in Q2 2022, we can expect prices in the Outside Central Region (OCR) to pick up in the coming quarter. Upcoming launches including Sceneca Residence, Lentor Modern, and Sky Eden @ Bedok are predicted to be well-received.
But enough talk about Q3 2022. For now, let’s dive into which condos were buyers flocking to in Q2 2022.
10 Best-Selling Projects in Q2 2022
1. Piccadilly Grand: A Stone’s Throw from the City Centre
Piccadilly Grand, a new launch located on Northumberland Road, is just a six-minute walk from Farrer Park MRT station on the North East Line. On its launch weekend, it sold 315 units, equivalent to 77% of the total units at an average of $2,150 per square foot (PSF).
The 99-year leasehold development’s desirable location puts it within walking distance of multiple MRT stations, giving future residents access to both Downtown and North East lines. Little India MRT station is a nine-minute walk away; Jalan Besar MRT station is a 15-minute walk away; Rochor MRT station is a 16-minute walk away.
Other than an excellent city fringe location, the development, which comprises three 23-storey towers, has an on-site childcare centre as well as 1,500 sqm of retail and F&B space.
Browse all Piccadilly Grand units for sale on PropertyGuru.
2. Liv @ MB: Attractive Location Near East Coast Park
Located at Arthur Road on the site of the former Katong Park Towers, Liv @ MB is an upcoming 99-year leasehold condo comprising two blocks and 298 units. Some residents will have stunning and unblocked views of the city skyline.
It will be located in a highly desirable neighbourhood just a three-minute walk from the future MRT station, Katong Park, on the Thomson-East Coast Line. Katong Park MRT station is set to open in 2024. Liv @ MB is expected to receive its Temporary Occupation Permit (TOP) in 2024.
The development is located about 20 to 30 minutes’ walk from a number of malls including Katong Shopping Centre, Parkway Parade and 112 Katong. East Coast Park, with its various sporting and recreational facilities, is about 12 minutes’ walk away.
Browse all Liv @ MB units for sale on PropertyGuru.
3. North Gaia: Executive Condo with Easy Access to Nature
The EC’s location makes it ideal for lovers of the great outdoors as it is also located just down the road from Yishun Dam. The nearest MRT station, Yishun, is located about a 20-minute walk away and connects residents to the North South Line.
Browse all North Gaia units for sale on PropertyGuru.
4. Normanton Park: Attractive City Fringe Location
After appearing perpetually at the top of bestseller lists in 2021, Normanton Park’s popularity endures in 2022. The development’s TOP is expected at the end of 2023.
The 99-year leasehold development, comprising 1,840 residential units, 22 strata terrace houses and eight commercial units, enjoys a good location near the AYE, offering easy access to the city centre. Those working at the Singapore Science Park, one-north Business Park and the National University of Singapore will also enjoy proximity to their workplaces. The nearest MRT station, Kent Ridge, is about a 16-minute walk away.
Browse all Normanton Park units for sale on PropertyGuru.
5. Riviere: Luxury in the Heart of the City
Riviere is a luxury development in the River Valley area. Located on Jiak Kim Street, the 99-year leasehold condo sits on the former site of Zouk Singapore. It consists of two 36-storey residential towers perched a stone’s throw from the Singapore River. The development is expected to receive its TOP in 2023.
Riviere will be located right next door to major lifestyle destination Robertson Quay. Residents even walk to Raffles Place MRT station in 33 minutes, if they wish. Clarke Quay and Fort Canning Park can also be reached in about 20 minutes by foot.
The development is located within walking distance of many MRT stations, including Great World MRT station, which is an eight-minute walk away, and Fort Canning MRT station which is an 18-minute walk away.
Browse all Riviere units for sale on PropertyGuru.
6. Bellewaters: EC Which Just Fulfilled Its MOP
Bellewaters is an EC which received its TOP in 2017 and recently fulfilled its Minimum Occupation Period (MOP) this year, which has prompted many of its owners to put up their units for sale. It is likely to have been popular amongst HDB upgraders looking to buy a private property within their neighbourhood.
Located on Anchorvale Crescent in the Sengkang area, about a three-minute walk from Farmway LRT station. For those wishing to walk directly to the nearest MRT station, Sengkang MRT station is about a 17-minute walk away.
Browse all Bellewaters units for sale on PropertyGuru.
7. Avenue South Residence: On-site Childcare Centre
Avenue South Residence is a city fringe, 99-year leasehold condo situated on Silat Avenue in District 3. Its location is very convenient for those with their own vehicle. Due to the property’s proximity to the CTE and MCE, driving to the CBD only takes 10 minutes. The nearest MRT stations, Tiong Bahru and Outram Park, are located about a 19-minute walk away.
The development is expected to receive its TOP in 2023. Avenue South Residence consists of 1,074 residential units, eight shops and a childcare centre spread out over two high-rise towers of 56 storeys each, making it ideal for families with young children.
Browse all Avenue South Residence units for sale on PropertyGuru.
8. The Florence Residences: Affordable Starter Condo
The Florence Residences, located on Hougang Avenue 2, offers HDB upgraders an affordable way to own their first condo at an affordable price. Smaller units at the 99-year leasehold condo are going for less than $700,000, making this one of the most affordable developments on the market.
The development comprises 1,410 units spread out over nine 18-storey blocks, is about a 15-minutes walk from Hougang and Kovan MRT stations. Keep fit by swimming laps in the pool or head down to the closeby Hougang ActiveSG Stadium and Sports Centre.
Browse all The Florence Residences units for sale on PropertyGuru.
9. The Vales: Freshly MOP-ed EC Near Sengkang MRT Station
Located at Anchorvale Crescent, The Vales is an EC in the Sengkang area that received its TOP in 2017. Like Bellewaters, the EC is a freshly MOP-ed property.
The EC is located right next door to Cheng Lim LRT station and a seven-minute walk to Sengkang MRT station on the North East Line. Its proximity to both LRT and MRT stations makes it a relatively attractive option compared to other ECs.
Browse all The Vales units for sale on PropertyGuru.
10. The Watergardens at Canberra: Award-Winning Design With Resort Feel
Located on Canberra Drive, The Watergardens at Canberra is a 99-year leasehold condo which is set to receive its TOP in 2026. The development is located about a nine-minute walk from Canberra MRT station, which offers direct access to Raffles Place MRT station without the need to change MRT lines.
The Watergardens at Canberra consists of 448 residential units spread out over 16 blocks, making it a medium-sized development. It has an attractive design, featuring natural-looking pools and plenty of greenery which gives the common areas a resort-like feel.
Browse all The Watergardens at Canberra units for sale on PropertyGuru.
Which Condo Should You Buy?
One of the key factors to consider when buying a condo is how far you wish to live from the city centre. If you work in the CBD and prioritise living centrally, you can opt for developments like Riviere.
Alternatively, go for a condo in a desirable neighbourhood or city fringe location. Good contenders include Normanton Park, Avenue South Residences, Piccadilly Grand, and LIV@MB.
If you work from home and prioritise space over location, you can opt for a suburban home in the Outside Central Region (OCR) such as North Gaia, Bellewaters or The Watergardens.
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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.