There will be a number of new private residential projects launched in the next few months and analysts believe that each of these projects will have its own characteristics and is expected to attract a different type of buyer, and as the new projects are not expected to open on the same weekend, competition between developers may not increase.

Projects expected to come on the market between March and June this year include Blossomsby the Park in the Wui On City area, Lentor Hills Residences in Toronto and The Reserve Residences in Bukit, Jalan Annabukit. There are also several projects in Eastern Canada, such as Tembusu Grand and The Continuum, which are also expected to be launched during this period, and Grand Dunman, which is expected to be launched in the middle of the year.

The market may feel that with so many projects expected to be launched next, developers may face stiffer competition. In an interview, Wong Sau Ying, head of research and content at Bona Industrial (Propnex), believes this may not be the case, saying, "Each project has its unique selling point and each location will have a different appeal."

She pointed out that Lee Fung Ka Yuen and Doubletree Garden are in the same district and the projects are surrounded by several schools such as Tanjong Katong Secondary School and Tanjong Katong Girls' Secondary School, making them attractive to families. The land leases of the two projects are different, with Doubletree being freehold and Liffont Garden being 99 years old.

Wong Siew Ying believes that if the price difference between the two projects is not too big, some buyers may opt for Doubletree Garden, which is under a freehold lease. "As for investors who have plans to rent out their units in the future, they may consider Li Fung Ka Yuen because the 99-year leasehold project is cheaper and is expected to bring higher rental yields."

Although Lentor Hills Residences is in close proximity to the recently launched Lentor Modern, Wong Sau Ying believes that the former is still attractive. She said that according to the Urban Redevelopment Authority's REALIS website, about 87 per cent of the units at Lentor Modern have been sold, with smaller units already sold out. As a result, buyers looking for smaller units will have to consider Lentor Hills Residences.

In an interview, ERA's Head of Industrial Research and Consultancy, John Mak, said that Eastern Canada, or District 15, is a popular residential area, showing its native Chinese history. It is close to the East Coast and not far from the city. Canada East is an established residential area and there are many buyers and investors living there.

Green Foothills is a mixed-use development and Beauty World, where the project is located, is a newly developed area.

According to the URA's development master plan, the Beauty World area will be developed as a green urban village, a community hub and a southern gateway to the natural attractions of Bukit Timah. The Integrated Transport Hub, which is under construction, will also add to the vibrancy of the area.

Lee Sze Teck, Senior Research Director of Hoden Group, noted that there is very limited supply in the area for Burson Court and Ching Lu Shang Hao. One-North Eden, near Bosun Court, is already sold out. Forett At Bukit Timah and Mayfair Gardens in Bukit Timah and Mayfair Gardens each have one unit left unsold.

"The average monthly rent for a two-bedroom unit at The Rochester Residences and One-North Residences reached $5,162 last year."

All things considered, Wong Sau Ying believes that these projects will appeal to a different group of buyers and the sales performance of each should not be affected. In addition, the developer does not expect to preview and open the projects for sale on the same weekend. Considering the small number of new projects last year and the reduced number of new units on the market, the succession of new projects will provide buyers with more choices.

A whopping 12,000 private residential units are expected to hit the market this year, much higher than last year's 4,528 units. As a result of the increased supply, Lee See Teck expects the opening sales performance of other Central District (RCR) and Outside Central District (OCR) projects to return to the 30% to 50% unit level.