Buyers on the Sidelines? 10 Upcoming New Launches Set to Ignite the Market

Private Home Sales Cool in June for Fourth Straight Month: Why Are Buyers Holding Back?

According to the latest data from the Urban Redevelopment Authority (URA), 272 non-landed private residential units were sold in Singapore in June, down 12.8% from May and marking the lowest monthly sales tally in the first half of 2024.

Despite June being a traditional lull due to the mid-year school holidays, two new launches—**Amber House (East Coast) and Arina East Residences (Katong)**—entered the market, injecting 187 new units. However, this was not enough to reverse the declining sales momentum.

Why Are Buyers in No Rush? What Do Analysts Say?

Market experts generally point out that macroeconomic uncertainties, coupled with an anticipated surge in supply, have prompted many buyers to adopt a wait-and-see posture.

External risks, such as US-China trade tensions, have kept both buyers and sellers cautious.

Many prospective buyers are also aware that over 10 new launches are lined up for the second half of the year. With a broader selection ahead, they are naturally inclined to hold out. Several medium-to-large projects are in the pipeline, offering diverse options and unit types that are expected to reignite market activity.

Which Upcoming Projects Could Break the Impasse?

While June was subdued, some developers have already made strong moves to break the lull:

LyndenWoods sold over 94% of its units on its launch day in mid-July, breaking the silence and emerging as the first blockbuster project of the second half.

Upcoming highlights to watch include:

UpperHouse@Orchard Boulevard (Core Central Region - CCR)

The Robertson Opus (Core Central Region - CCR)

Promenade Peak (Rest of Central Region - RCR)

River Green (Core Central Region - CCR)

Canberra Crescent Residences (Outside Central Region - OCR)

These projects are slated to launch progressively from July to early August, which could swiftly inject momentum back into the market!

Lower Interest Rates + Fresh Supply = A Catalyst for Market Recovery?

With mortgage rates easing back toward around 2.5%, analysts are broadly optimistic about a steady market recovery. In addition, the influx of quality launches in 2H 2024 will provide buyers with more entry opportunities.

"Many buyers who were initially eyeing the Outside Central Region (OCR) are now shifting their attention to the Rest of Central Region (RCR) and Core Central Region (CCR) as OCR inventory thins out."

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