RCR posts lowest new launches for 2020

penrose-condo-rcr-less-condos-launched-2020-singapore

This is out of the 9,000 pipeline launches this year, including Penrose condominium at Aljunied

This graph from EDMUND TIE reveals that the Rest of Central Region (RCR), or the city fringe, has the least pipeline launch supply in this year of 2020, with an estimated of 1,814 units in total, of which Penrose contributes 566 units as shown in the Penrose Project Details. This is out of the 9,000 pipeline launches wherein more than 5,000 units are of 99-year leasehold tenure.

But the research finds that there may be a slowdown in new developments as property developers may impede the project launches for first half of the year amidst continuous uncertainties deriving from the Covid-19 pandemic. That’s why the Penrose launch is pushed back to Q3 2020.

For 2021, more than 1,200 new units in the supply pipeline are predicted to come onboard, barring any unforeseen circumstances during the approval process before their launches.

Out of which, the majority, or around 800 units, is in the Outside Central Region (OCR) and the rest are in the Core Central Region (CCR). Irwell Bank Road in the CCR has an estimated 445 units, while the Jalan Bunga Rampai site, Canberra Drive (Parcel A), and Canberra Drive (Parcel B, which is the Watergardens At Canberra site) in OCR have 115, 220, 455 units, respectively. There will not be any predicted pipeline launch supply in the Rest of Central Region for 2021.

Source: https://sbr.com.sg/residential-property/news/chart-day-rcr-posts-lowest-new-launches-2020

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