![](\"http:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2016\/12\/Upcoming-new-launches-and-confirmed-list-land-sales-in-2017.jpg?fit=810%2C611\")
\nMarket watchers are keeping an eye on the Bideford Road site that Thong Sia building used to occupy. Source: JLL
\nOversupply and remnant stock plague Singapore\u2019s private non-landed residential market, and all eyes are on how developers will make their moves in 2017. We take a look at the upcoming projects pipeline.
\nBy Chang Hui Chew
\nAlmost 15,000 non-landed private residential units would have exchanged hands by the time 2016 closes, of which more than half were primary developer sales.
\nEver since 2013, with the implementation of Additional Buyer\u2019s Stamp Duty (ABSD) and Total Debt Servicing Ratio (TDSR), the private condo market has been in the doldrums. As we covered in a previous Guru View, volumes have begun to recover, even though prices continue to slide.
\nAs 2017 approaches, we bring to you our Guru View of what is likely to happen in the new launch market.
\nUpcoming hot launches in 2017
\nBy our count, there are likely close to twenty new condominiums, executive condominium (EC) and mixed development projects that will launch in 2017, if developers were to develop all the current land that they bought under the Government Land Sales (GLS) programme or en bloc sales in the past couple of years (refer to Figure 1 for a selection of potential new launches).
\nAt time of writing, there are also two plots of land that are up for bids, and two more plots that might be launched for sale before we sing Auld Lang Syne to usher in 2017.
\nBideford Road
\nIn July 2015, the residents of Thong Sia building approved a collective sale of the freehold District Nine property just off Orchard Road for the sum of $380 million to SIN Capital Group, a private investment company, the only en bloc sale in the whole of 2015.
\nFor convenience and a prestigious address, there are few locations in Singapore or even in the region that can beat an Orchard Road location. The site is located in between Cairnhill Nine and Paragon Shopping and Medical Centre. 313 Somerset, Ngee Ann City, Mandarin Gallery and Wisma Atria are all within five minutes\u2019 walk.
\nPublic transportation links are plentiful in the area, with a plethora of bus lines. Furthermore, Orchard MRT is a planned interchange to connect the North-South Line and the Thomson-East Coast Line (TEL).
\nAt time of sale, Thong Sia building had seven levels of commercial space and 19 levels of residential space. Many small scale spas, salons and beauty parlours operated in the commercial space, while the residences were known for their large sizes. While there were 19 levels of residential spaces, there were only 37 residential units.
\nWhile SIN Capital has not indicated when they are likely to launch the project for sale on the site, the residents of Thong Sia building have moved out and the current building has been demolished.
\nWith next door Cairnhill Nine one of the strongest performing prime properties for 2016, and few likely competitors in 2017, it\u2019s possible that SIN Capital will launch the project for sale in 2017.
\nThose looking to purchase units at this new project should be wary of potentially high prices. SIN Capital bought the unit at about $2430 per sq ft of the gross floor area. After factoring in the cost of redevelopment, marketing and their profit margin, the likely price of the redevelopment might be at the top end of buyers\u2019 appetites.
\nAlternately, SIN Capital could choose to redevelop the project as serviced residences. If so, they are likely to face stiff competition from the Ascott managed serviced residences right across the street at Cairnhill Nine.
\n\u00a0<\/p>\n