Hot New Condos That Might Trigger a Fire Sale
Been watching the property graph slam up? Feel like you’re stuck in a never‑ending incline? Chill, it’s not all doom and gloom.
Why They’re About to Go “Fire Sale‑ish”
- ABSD Deadline Looms: Developers are racing to clear units before the Additional Buy‑Sell Tax hits the ground. Timing’s tight, and so are the prices.
- Fresh Launches: New condos are popping up like mushrooms after a rainstorm.
- Late‑Month Push: As the year wraps, some sellers feel the urgency to offload—making their offers sweat‑pants‑fast.
Top Picks for the Savvy Buyer
Here’s our quick snapshot of the properties that look poised for a price dip:
- Skyline Towers – A sleek, city‑center gem with floor‑to‑ceiling windows that let the skyline look even brighter.
- Riverside Residences – Ideal for water‑lover crowds, with balconies that are practically a mini pool on your porch.
- Garden Gate Villas – Not just rooms, but a green oasis; perfect for those who dream of their own indoor jungle.
Remember, the hype is real, but the bargain is just around the corner. Don’t let the “big wave” scare you—ride it and grab a good deal!
How the ABSD can potentially lead to condo discounts
Why Developers Still Feel the ABSD Pinch
When you buy a home in Singapore but you’re not a Singaporean buying your first place, you’ll bump into an extra tax called the Additional Buyer’s Stamp Duty (ABSD). Developers aren’t spared either – they pay a developer ABSD when snagging pieces of land via government sales or bundled en‑block deals.
What Changed in 2018?
- Before July 6, 2018, developers who built a building with five or more units faced a 15 % ABSD. But they could claim back 15 % if they hit the sprinkle‑on‑quickcondition: selling every single unit within five years of the initial land purchase.
- After that date, the ABSD jumped to a heart‑stopping 30 %. Developers still get a refund on 25 % of that, provided they still obey the five‑year rule.
The COVID‑19 Extension
When the pandemic hit, the government rolled out a six‑month sales deadline extension for lots bought on or before June 1, 2020 – but only if the original deadline was on/after Feb 1, 2020. The idea was to give developers a breather.
But the ABSD Still Sticks
Even with the extra time or a tiny slip‑in the unit count, developers still owe the full stamp duty if they don’t sell all the units. That’s because ABSD is about the commitment to face the market, not just the number left on the shelf.
How Do Developers Push Those Last Bits Off the Market?
When a few units are stuck in a developer’s portfolio – think, a handful of apartments – the common trick is to sweeten the deal. You’ll see striking discounts ranging from 13 % to 24 % offered, just to clear the final inventory.
A prime example? 38 Jervois was left with only 16 units and waved a 13‑24 % discount: that got the last bit sold in just three days. A snappy sales coup that shows how even the market’s hiccups can be charmingly out‑witted.
New launch condos with discount potential as they approach their ABSD deadline
New Launch Condos on the Verge of ABSD Deadlines
We’ve scoured the market and identified several new launch condos that are heading straight toward their Antermediate Buddhist Sustainable Development (ABSD?) deadlines in 2021 and 2022. These properties are the sweet spot for buyers keen on snagging discounts before the ticking clock runs out.
Why Now Is the Best Time to Buy
- Deadline momentum: Sellers face pressure to clear inventory before the ABSD deadline, often offering price reductions.
- Limited supply: Only a handful of units are close to their deadline—grab them while you still can.
- Market dynamics: With shifting lender timings, the window for discounted units is narrower than ever.
Potential Discount Highlights
- Units ready for ABSD in 2021 could see 10‑20% off the original asking price.
- Those rolling into 2022 might unlock 5‑15% savings, especially in hot zones.
- Early‑bird buyers may even secure additional perks like waived service charges.
Heads‑Up: Numbers Are Fluid
While we’ve taken care to present the most accurate figures at the time of writing, remember that the real estate market moves fast. As more units get sold, numbers and discount ranges can shift. So keep an eye on updates—your dream condo might be waiting just around the corner.
1. 8 Hullet
Sales Update: Orchard’s Are‑White‑Sashes Almost Gone
ABSD deadline announced: 2021
Total units in the block: 44
Units still on the market: 7
Percentage already sold: 84.1 %
The whole Orchard development was snapped up in one go back in 2016. Now with only a handful of units left and the deadline fast approaching, it looks like a “fire sale” is in the cards. Grab your coffee because the price might take a dip.
Why 8 Hullet Is the Place to Be
- Located in charming Emerald Hill.
- Just a short walk (a few minutes) to Somerset MRT.
- A quick drive (a few minutes) straight into the CBD.
- Ideal for those who want a sweet blend of Orchard lifestyle and CBD hustle.
2. 3 Cuscaden
Flashback to 2021: The Apartment Rush Measured & Ready
Picture this: 96 units on the market, 8 still sitting on the shelf, and a sales barometer at 91.7 %. 2021 was the year that gave us the ABSD deadline for squatters—well, apartment hunters.
The Orchard Tale
- 70 units sold (in 2021), leaving 8 unclaimed.
- Critical sell‑through rate: 91.7%—that’s practically a sales blockbuster.
- Meanwhile, another Orchard gem that sold en bloc back in 2016 is now home to 3 “Cuscaden” units.
- The land parcel that rode the same wave as the 8 Hullet site is ticking its deadline clock.
- Anticipate a “discount dance” for the last few—market loves to clear out the famished inventory.
Proximity Perks
- Just a stroll from Orchard Boulevard.
- Now within walking distance of the brand‑new Thomson‑East Coast Line.
- Perfect for commuters who prefer foot traffic over fancy transport.
So, if you’re dreaming of a sweet spot between convenience and savings, keep your eye on 2021’s unsold units—they might just slide down in price before you know it. Good luck, and may your new digs bring more than just wifi high‑speed!
3. JadeScape
JadeScape: The Condominium That’s About to Light Up
Hey folks, if you’re looking to crash the market with a bang this year, set your sights on JadeScape.
Quick Snapshot
- 2023‑Rated TOP Condo
- Estimated ABSD deadline: 2021
- Total units: 1,206
- Unsold units: 26
- Sold percentage: 97.8 %
Where Is It?
It’s up in Bishan, on the former site of Shunfu Ville, a privatized HUDC that was snapped up by the developers back in 2016.
Why Should You Care?
Not only does JadeScape promise a pocket‑friendly option in the a‑sane real‑estate market, it’s also charmfully positioned near top schools: Raffles Institution, Raffles Girls’ School, and Catholic High School.
So if you’re tired of the city’s nonstop buzz and want a quieter, school‑friendly spot, keep an eye on JadeScape – it could soon be the hottest new launch that’s about to cause a fire sale.
4. Treasure at Tampines
Snap, Snap! The Tampines Treasure Is Almost Sold Out
Did you know that a whole condo block at Tampines is now 93.1% sold? That means only 151 of the 2,203 units still sit on the market shelf. It’s a hat‑off moment for developers—because if the biggest Singapore condo ever doesn’t clear the ABSD deadline (by 2022), you’re definitely going to see them offer sweet perks to push it over the edge.
The Legendary Site Story
- Back in 2017, the spot that’s now called Tampines Treasure was the former home of Tampines Court, a cool HUDC enclosure.
- It churned up the highest en‑bloc deal in a decade, setting the scene for a blockbuster sale.
- Fast forward to today, it’s the largest condo development in Singapore—imagine a block of blocks.
Think of It Like A Huge Shopping Mall
Picture a mall‑size deal, but each store is a luxe two‑room apartment with skyboxes and a sprinkling of sassy chandeliers. The developer is cheering (and sweating) as they watch the sales spike. The only thing left is that last 7%—or roughly 151 units—waiting for someone who says, “Let’s put a smooth Airbnb listing on a pop‑up balcony.”
Will It Hang on the ABSD Horizon?
We’ve got a winning combination of history, size, and hype. If the block doesn’t clear the lot by the ABSD deadline, morale will definitely crest. That’s when the developer will probably toss in discounts like confetti at a spring wedding—because the only way to keep those 151 units from being the unused, unglam adventure.
Need To Move to East Singapore?
Hey, if you’ve been day‑dreaming about living in the east and craving that sunlit view, you might want to check out what Tampines Treasure has to offer. It’s not just the price if the market swings—it’s the vibe, the community, and the fact that you’re staying ahead of the crowd before this block turns into a full blown legend.
5. Riverfront Residences
Riverfront Residences: The Last‑Chance Luxury
A Quick Snapshot
Why It’s Still Hot
The idea of a rolling river view and a lively neighborhood in Hou Gang has always been a fan‑favorite. With Riverfront Residences only being behind the 2022 ABSD deadline, people get a real rush.
The Sweet Twist
Remember the former HUDC site that went en bloc in 2017? This new launch condo is the next chapter. But here’s the kicker: you won’t just get a condo – you get 21 landed homes. Yep, the kind of homes that let you grow a garden, host elaborate BBQs, or simply flaunt “landed” status on your LinkedIn profile.
Final Call
All that’s left? 30 units. That’s less than the number of coffee shops in a small village – claim your domain before it’s gone.
Want to be first in line? Call us now. The river awaits.
6. Parc Komo
Why Parc Komo Might Be Just the Quiet Deal You’re Looking For
Quick stats:
- Launch year: 2023 — first ABSD deadline back in 2022
- All units: 276
- Sold: 63.8 %
- Left unsold: 100
What makes this launch a potential bargain?
Parc Komo sits on the former Changi Garden site, which went under a big sell‑all deal in 2017. Even though the sales percentage isn’t sky‑high yet, it’s a fire‑sale sweet spot for a few reasons.
Location, Location,… Air‑Travel or No?
The complex is a stone’s throw from Changi Airport and the less‑known Changi Prison. Give yourself a moment: the nearest MRT stops—Tampines East and Upper Changi—are a hop, skip, and a jump away, not a casual stroll. That’s yes for people who love distance, or no for those who wish they could hop on a train while baring their feet.
But… It’s a Mixed‑Use Masterpiece!
Parc Komo isn’t just glass and steel. It’s freehold with retail outlets right at the door. Imagine buying a coffee at the same time you move your couch into the apartment. Talk about convenience.
Still, Who’s In the Market?
If you’re craving serenity over a bustling neighbourhood, and you don’t mind a slightly trickier commute, Parc Komo might just tick your boxes. Keep an eye on the unsold units—they could be the golden ticket in a clatter of launches.
Frequently asked questions
How do you find condo discounts?
Unveiling Condo Bargains: Auctions & Your ABSD Countdown
Hey, savvy home hunters! If you’ve ever dreamed of snagging a condo deal that feels like a sweet cookie fresh out of the oven, listen up. By tapping into property auctions and keeping an eye on new launch projects still clocking their ABSD (Additional Buyer’s Stamp Duty) deadlines, you can turn those wish‑fulfilments into reality.
Why Auctions are the Secret Sauce
- Hidden discounts abound – it’s like treasure hunting, but for real estate.
- Competitive bidding can drive prices down faster than a pizza delivery guy on a full‑moon night.
- Auctions often come with unchanged, well‑maintained units that are ready to swoop in.
New Launch Windows — Get Them Before the Clock Ticks
New condo projects don’t just come with flashing signage; they come with ABSD ticking away. The earlier you commit, the less you pay on that extra tax. Think of it as investing before the “new project fever” hits the market.
Pro Tip: Keep Your Fingers on the Pulse
Subscribe to local property newsletters, follow auction houses on social media, and don’t forget to set daily reminders for upcoming ABSD cut‑offs. That’s how you stay ahead of the herd.
Wrapping Up & A Quick Laugh
So, whether you’re hunting the perfect discount at an auction or racing the ABSD clock on a fresh launch, remember: the right move + a dash of timing = a new home, not a headache. Good luck, and may your future condo bring more joy than your last pizza delivery tab!
What is a property auction?
Why Houses End Up at the Auction Table
Ever wondered why some homes end up on that big auction day? It’s all part of a process that kicks off when a property isn’t paid for on time.
The Classic Scenario
Picture this: a homeowner misses a mortgage payment, the bank takes the reins, and the house is put up for a good old bid‑and‑win sale.
Step‑by‑Step Breakdown
- Default Alert: The owner’s payment falls through.
- Bank’s Call: The lender seizes the property to recover the owed amount.
- Auction Day: The house is listed, bids come in, and the highest offer clinches the deal.
What Happens After the Auction?
The winning bidder pays the sale price, and the new owner gets the keys. The former owner’s dream of that cozy space dissolves into a chapter of the past.
Why the Bank Loves This System
It’s a quick way to recoup losses, and it keeps the market moving. No fancy real‑estate jargon needed—just straight‑forward plans to keep things fair.
Quick Takeaway
When a loan slips, banks can auction the property, the highest bidder wins, and the cycle continues. Simple, but it’s essential to understand what’s at stake.
What is the ABSD deadline?
Unpacking the Five‑Year Deadline for Singapore Developers
When developers snag a piece of land or a vacant house to turn into housing, the clock starts ticking. They’ve got a five‑year crunch to get the whole gig—design, build, snag buyers, hand over keys. Stick to the timeline, and you sidestep the full 30 % ABSD bite that can bite deep into your wallet.
Why the Timer Matters
- Speed is the name of the game: The faster you finish, the cheaper the taxes.
- ABSD penalty: The longer the delay, the greater the tax hit at 30 %.
- Property ready by the deadline: It’s all about rolling out the finished product before the timer pops.
What This Means for Investors
Think of the five-year rule as a sprint, not a marathon. If you can wrap up the project on or before the fifth anniversary of the purchase, you enjoy the full benefit of a reduced tax load and a smoother return on investment.
Bottom Line
Keep the deadline in mind, finish the development, and you keep that 30 % ABSD at bay—so your developers and your investors can breathe easier.
