The Continuum 26.5% sold, lowest new launch performer this year? - - Singapore Wacky Digital Underground Outpost

The Continuum 26.5% sold, lowest new launch performer this year?

The most anticipated launch in D15, The Continuum, fails to take off with a measly 26.5% sale on launch day.

This Freehold mega project in the East is marketed as an heirloom to the next generation of buyers. Over the weekend, it sold 216 units out of the 816 units. The Continuum was the 2nd mega project in District 15 after Tembusu Grand for 2023. Tembusu Grand has sold 55% or 352 of the units

Unlike recent new launches, The Continuum has received fewer cheques vs the number of units it is selling, with only 545 cheques collected vs 816 units. In comparison,  LIV@MB launched in 2022, had collected 5 times the number of cheques over units. The 545 cheques are also much lesser than the 745 cheques collected for Blossoms by the Park close a week ago. For the record Blossoms sold more than 70% of the units during launch.

Why the low take up rate?

Compared to recent leasehold launches, where one-bedroom is usually sold out, only a handful of  68 units were sold. One reason is that investors prefer the cheaper leasehold units for investments as it has a lower quantum and thus better rental yields. The recent rise in ABSD to 20% for 2nd property purchased by Singaporeans may also impact the sales figures. Lastly, the average price of $2,732 psf could be another factor that deters buyers.

There were 0% foreigners, as all buyers were Singaporeans (90%) and PR (10%). The units type sold were mostly 2-4 bedrooms. 32 5 Bedrooms were left unsold.

In the coming months, Grand Dunman, with over 1000 units, is anticipated to be launched. With the existing stock of new launches, we could see close to 2000 units of unsold stock. This is unlike last year when stocks replenished towards year-end. 

We had anticipated that the new launch performance may have reached a peak back on Apr 12 before the cooling measures were introduced. It may look like we are on that track now.

Would this be the opportunity to buy, or should you wait with the increasing supplies?

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