What to look out for in Singapore's residential market in 2020?
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S PE CI AL P U B L ICAT IO N :
What to look out for in
Singapore’s residential
market in 2020?
Key developments affecting prices in Singapore’s residential buyer and
rental space, with a special feature on d’Leedon
Special feature: d’Leedon
Residential leasing market:
Key developments and what to expect in 2020
Residential sales market:
Key developments and what to expect in 2020
By: Alan Cheong, Executive Director, Research, Savills Singapore February 2020
NUMBER
OF LEASES 110 133 151 101 144 189 183
CONCLUDED IN
D’LEEDON Q1/2018 Q2/2018 Q3/2018 Q4/2018 Q1/2019 Q2/2019 Q3/2019
Special feature: d’Leedon
S trategically located at the heart of District 10, d’Leedon’s
vibrant landscape design is inspired by the distinct
components of mountain ecosystems.
Nanyang Reflecting
Primary School, pools, spa
Raffles Girls pavilions,
Primary School clubhouses,
SCHOOLS and Hwa Chong FACILITIES retail areas and
Institution restaurants
CBD, Dempsey 1 to 4-bedroom,
Hill, Holland penthouse
Village and suites and
LIFESTYLE Orchard Road UNIT garden houses
HUBS TYPES
T he average selling price for d’Leedon units has
been climbing steadily since the first quarter of
2017. From approximately $1,350 psf in Q1/2017, the
For Q4/2019, the average price for non-landed
properties in the CCR (both new sale and resale) was
$2,369 psf, significantly higher than d’Leedon’s $1,557
trendline price is now approximately $1,650 psf, or psf. This relative difference may be what is driving the
a rise of circa 22% over the past 3 years. Please see market to see value in d’Leedon.
Figure 1. More pertinently, with new 99-year leasehold launches
in the vicinity of d’Leedon priced from $2,500 psf
FIGURE 1: TRANSACTED AND TRENDLINE to just over $3,000 psf, the attractiveness of this
PRICES ($PSF) FOR D’LEEDON development is further enhanced. We therefore expect
$psf
that d’Leedon’s pricing will continue to be buttressed
1,700
by the supporting factors in the foreseeable future.
1,600 On the leasing front, the median rent achieved in
Q3/2019 was $3.88 psf pm (the latest available data
1,500
from the URA). Leasing transactions have been active
1,400 (please see Figure 3), with an average of 144 units
1,300 rented out each quarter from Q1/2019 to Q3/2019.
1,200 On an annualised basis, this works out to 576 units, or
1,100 approximately 33% of the units in the development,
1,000
being relet each year.
For investors looking for rental income, the vibrant
leasing market is reassuring as to the ease of finding a
Source: URA Realis, Savills tenant, minimising their downtime to no income.
INTERESTED TO EXPLORE AVAILABLE UNITS
FIGURE 2: D’LEEDON PRICES VERSUS URA
AT D’LEEDON?
NON-LANDED CCR PRICES
130
CONTACT OUR AGENT TO
125 ARRANGE FOR A VIEWING
120
Eleanor Tan (R051035E)
115
Senior Manager
110
Residential Services
105
Singapore
100
95
+65 6415 3261
90
85
80 VIEW FLOORPLAN
CONTACT AGENT
D'Leedon Price Index URA Non-Landed CCR Price Index
NOW
Source: URA Realis, Savills
1
What to look out for in
the Singapore housing
rental market?
KEY TRENDS IN 2019:
ENQUIRE ABOUT
A PROPERTY
average
18.4% 1.1%
increase
The robust quarter-on-quarter (QoQ) growth in From Savills’ basket of high-end non-landed
leasing volumes was led by the Core Central Region residential developments, monthly average rents
(CCR) rising by 18.4%. continued trending up for a third straight quarter,
rising by 1.1% QoQ in Q3/2019.
$2k toWhat to look out for in
Singapore’s residential
housing sales market?
KEY TRENDS IN 2019:
New home sales rose in line with Sales of private ENQUIRE ABOUT
developers’ launches, climbing residential properties in A PROPERTY
39.6% to 3,281 private residential the secondary market
units sold in the months from July also picked up in tandem,
to September. albeit at a slower rate of 2.7% quarter-on-
quarter (QoQ) to 2,482 units sold in the
third quarter.
In the primary market, the
best-selling non-landed private
The URA’s price index in Q3/2019 showed
residential units in the first nine
that prices for the island-wide private
months of 2019 were those with
residential properties continued to rise for
a price tag from S$1.0 to S$1.25
a second straight quarter.
million each. These corresponded
with unit sizes ranging between
400 and 800 sq ft.
0.8%
The average prices in the Savills basket of
0.4%
high-end, non-landed homes rose by 0.4%
RESIDENTIAL PROPERTY LAUNCHES IN QoQ in Q3 and by 0.8% since Q2.
THE PIPELINE
TOTAL NO.
PROJECT NAME LOCATION DEVELOPER LOCALITY
OF UNITS
19 Nassim Nassmin Hill Parksville Development Pte Ltd CCR 101
Amber Sea Amber Gardens Urban Park Pte Ltd RCR 132
Bideford Hills Bideford Road SC Aetas Holdings Pte Ltd CCR 168
Condominium development Arthur Road BSEL Development Pte Ltd RCR 290
(former Katong Park Towers)
Dairy Farm Residences Dairy Farm Road UE Dairy Farm Pte Ltd OCR 460
Hyll On Holland Holland Hill/Holland FEC Skypark Pte Ltd CCR 319
Road/Queensway
KI Residences Sunset Way Hol Hup Sunway Clementi Pte Ltd RCR 648
Leedon Green Farrer Road/Holland Asia Radiant Pte Ltd CCR 638
Road/Leedon Heights
Midtown Bay Beach Road GLL Prosper Pte Ltd/GLL Thrive Pte CCR 219
Ltd
Midwood Hillview Rise Hillview Rise Devlopment Pte Ltd RCR 564
Neu at Novena Moulmein Rise RH Novena Pte Ltd CCR 87
One Holland Village Holland Road Commons Residential Pte Ltd/ CCR 296
Residences Commons SR Trustee Pte Ltd/
Commons Commercial Trustee Pte Ltd
Pullman Residences Newton Dunearn Road EL Development (Horizon) Pte Ltd CCR 340
Residential apartments Sims Drive NovaSims Development Pte Ltd OCR 566
Residential apartments Toh Luck Road Qingjian Perennial (Bukit Timah) Pte RCR 669
(former Goodluck Garden) Ltd
Royalgreen Anamalal Avenue/Bukit Sky Top Investments Pte Ltd CCR 285
Timah Road/Lily Avenue
Sengkang Grand Residences Sengkang Central Siena Residential Development Pte OCR 680
Ltd/Siena Trustee Pte Ltd
The Atelier Makeway Avenue Bukit Sembawang Pte Ltd CCR 376
The Avenir River Valley Close Carmel Development Pte Ltd CCR 376
The Linq @ Beauty World Upper Bukit Timah Allka Properties Pte Ltd RCR 120
Road
The M Middle Road Wingcharm Investment Pte Ltd CCR 552
Urban Treasures Jalan Eunos Fragrance Treasures Pte Ltd OCR 237
Van Holland Holland Road KBD Holland Pte Ltd CCR 69
Verdale De Souza Avenue C&C (JJK) Pte Ltd OCR 258
Verticus Jalan Kemaman SB (Kemaman) Development Pte Ltd RCR 162
Source: URA, Savills Research & Consultancy
*Expected launch dates are subject to change. 3
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