10 newly-launched condos with discounts up to $400k in 2023

Most of the time, new launch condos are cheaper at the start and get pricier as the units get sold out (classic demand and supply). It's all part of the usual developer strategy, to entice early buyers with early bird prices to get the ball rolling.

(Although higher prices at the end are just due to the higher floor units that are left).

But every now and then, developers are left with a few units to clear or aren't seeing strong enough interest. That's when you may find prices are just as low — or perhaps even lower — compared to earlier phases (this could also be in reaction to the latest cooling measures). For those looking for some discounts in this market, here's a collation of the latest that we could find:

10 Evelyn

Cairnhill16

Unit No.	Bedroom	Size	Price
#02-03	2 Bedroom	775 sqft	$2,155,500
#03-03	2 Bedroom	775 sqft	$2,164,900

Corals at Keppel Bay

Unit No.	Bedroom	Size	Price
#01-05	4 Bedroom	2,669 sqft	$7,040,000
#01-07	4 Bedroom	2,680 sqft	$7,321,600
#01-12	4 Bedroom Deluxe	3,348 sqft	$9,328,600
#02-05	4 Bedroom	2,573 sqft	$6,820,000
#02-12	4 Bedroom Deluxe	3,025 sqft	$8,976,000

Klimt Cairnhill

Bedroom	Size	Price (From)
3 Bedroom	1,432 sqft	$5,080,000
2 Bedroom	829 sqft	$2,780,000

Leedon Green

Unit No.	Type	SQFT	List Price wef 10 Jan 2022	After Discount (11per cent)	Nett Price	Promo Price
#02-08	1 + S	538	$1,874,000	$1,667,860	$1,667,000	$1,638,000
#09-17	1 + S	538	$1,882,000	$1,674,980	$1,674,000	$1,638,000
#11-17	1 + S	538	$1,899,000	$1,690,110	$1,690,000	$1,638,000
#12-17	1 + S	678	$2,096,000	$1,865,440	$1,865,000	$1,768,000
#12-20	2B2B	840	$2,502,000	$2,226,780	$2,226,000	$2,138,000
#12-21	2B2B	840	$2,503,000	$2,227,670	$2,227,000	$2,138,000
#12-26	2B2B	807	$2,633,000	$2,343,370	$2,343,000	$2,248,000
#01-28	2B2B	775	$2,452,000	$2,182,280	$2,182,000	$2,088,000
#12-28	2B2B	840	$2,540,000	$2,260,600	$2,260,000	$2,128,000
#01-29	2B2B	775	$2,429,000	$2,161,810	$2,161,000	$2,088,000
#12-29	2B2B	840	$2,517,000	$2,240,130	$2,240,000	$2,138,000
#11-30	2 + S	818	$2,890,000	$2,572,100	$2,572,000	$2,498,000
#12-30	2 + S	926	$3,067,000	$2,729,630	$2,729,000	$2,588,000
#12-31	1 + S	678	$2,054,000	$1,828,060	$1,828,000	$1,698,000
#06-32	1 + S	538	$1,866,000	$1,660,740	$1,660,000	$1,608,000
#08-32	1 + S	538	$1,904,000	$1,694,560	$1,694,000	$1,608,000
#12-32	1 + S	678	$2,120,000	$1,886,800	$1,886,000	$1,698,000
#12-33	1BR	603	$1,811,000	$1,611,790	$1,611,000	$1,509,000
#12-34	1BR	603	$1,833,000	$1,631,370	$1,631,000	$1,509,000
#12-35	1BR	603	$1,792,000	$1,594,880	$1,594,000	$1,509,000
#12-36	2B2B	807	$2,502,000	$2,226,780	$2,226,000	$2,158,000
#12-38	1 + S	689	$1,965,000	$1,748,850	$1,748,000	$1,698,000
#12-39	1 + S	689	$1,974,000	$1,756,860	$1,756,000	$1,698,000
#12-41	2B2B	807	$2,454,000	$2,184,060	$2,184,000	$2,108,000
#12-42	1BR	603	$1,795,000	$1,597,550	$1,597,000	$1,509,000

Neu At Novena

Unit	Type	Size ( sqft )	List Price	Price after Discount	Savings
#07-05	4 Bedroom + Utility	1,302	$3,663,000	$3,425,000	+$238,000
#14-02	4 Bedroom Duplex	1,195	$3,443,000	$3,143,000	+$300,000

One Draycott

Unit	Type	Size ( sqft )	List Price	Price after Discount	PSF	Savings
#07-03	2 Bedroom	732	$2,429,500	$2,279,500	$3,114	+$150,000
#03-01	2 Bedroom	797	$2,572,800	$2,542,800	$3,190	+$30,000
#03-02	2 Bedroom	797	$2,572,800	$2,542,800	$3,190	+$30,000

One Pearl Bank

Bedroom	Prices (From)
2 Bedroom	$2,058,000
3 Bedroom	$3,000,000
4 Bedroom	$3,680,000

Perfect Ten

Unit	Bedroom	Size	Price
#22-01	2 Bedroom	753 sqft	$2,702,040
#22-04	2 Bedroom	786 sqft	$2,675,340
#23-02	2 Bedroom	797 sqft	$2,755,280
#23-04	2 Bedroom	786 sqft	$2,701,150
#23-09	2 Bedroom	786 sqft	$2,620,160
#24-01	2 Bedroom Penthouse	753 sqft	$2,845,920
#24-02	2 Bedroom Penthouse	797 sqft	$2,966,480
#24-07	2 Bedroom Penthouse	753 sqft	$2,743,840
#24-09	2 Bedroom Penthouse	786 sqft	$2,763,200
#24-05	3 Bedroom Penthouse	1,281 sqft	$4,759,920

The Atelier

Unit	Type	Size ( sqft )	List Price	Price after Discount	Savings
#22-03	1 Bedroom	549	$1,689,000	$1,536,990	+$152,010
#21-03	1 Bedroom	549	$1,674,000	$1,523,340	+$150,660
#20-03	1 Bedroom	549	$1,659,000	$1,509,690	+$149,310
#22-06	1 Bedroom	549	$1,743,000	$1,620,990	+$122,010
#21-06	1 Bedroom	549	$1,728,000	$1,607,040	+$120,960
#20-06	1 Bedroom	549	$1,713,000	$1,593,090	+$119,910
#22-01	4 Bedroom	1,496	$4,461,000	$4,059,510	+$401,490
#21-01	4 Bedroom	1,496	$4,431,000	$4,032,210	+$398,790
#22-08	4 Bedroom	1,496	$4,769,000	$4,435,170	+$333,830

Note: Most of the following are prime region or otherwise higher-end condos. This is a market norm, as it's the high-quantum units that are the slowest to move.

1. Perfect Ten

Attribute	Info
Location	321 Bukit Timah Road (District 10)
Developer	Japura Development Pte. Ltd.
Lease	Freehold
TOP	2025
Number of units	230

There are 10 units left at the luxurious Perfect Ten, and there's a "Star Buy" discount ongoing. This is up to 12 per cent off, and all are two-bedders or two-bedroom penthouse units with one exception: there's a sole remaining three-bedder penthouse unit on the list, going for $4,759,920 ($5.49 million before discount). 

The other two-bedders appear to be in the $2.7 million range, with the penthouse versions reaching $2.8 million to $2.9 million. 

Perfect Ten is within the Newton area, close to Balmoral Plaza. It's reasonably close to Newton MRT (DTL, NSL), at around a 10-minute walk via Bukit Timah Road. Note that Newton is just one stop from Stevens MRT (DTL, TEL), so residents arguably have access to three train lines rather than just two. You can also walk to Stevens MRT, which is about the same distance away.

We can't say Perfect Ten is the cheapest condo in the immediate vicinity; but it is certainly the newest kid with the latest bells and whistles on the block, with its infinity pool and standard unit ceiling heights of 3.23 metres.

One drawback to the location, however, is the lack of major malls and entertainment nearby. We can't really count Balmoral Plaza, as its main contribution is just the NTUC supermarket and some food outlets; so you will have to travel out for your fun. 

This condo is for sticklers for high-quality interiors — if you're big on the finishing, as well as bonus features like humidifiers and ceiling speakers, this will appeal to you.

2. The Atelier 

Attribute	Info
Location	2 Makeway Avenue (District 10)
Developer	Bukit Sembawang Land Pte. Ltd.
Lease	Freehold
TOP	2024
Number of units	120

The Atelier is looking to move its last few units with up to a nine per cent discount. The remaining units seem to be shoebox units up to 550 sq ft., all the way to family-sized units of 1,496 sq ft.

We think the latter will gain attention, with prices dropping from $4,461,000 to $4,059,510. The single-bedders have mostly seen a decrease from around $1.6 million to $1.5 million; alright by District 9 standards, but a quantum that's still rough for most new homeowners.

At any rate, one of the main highlights of Atelier is the bigger unit sizes (by new condo standards), so the larger units play to its strength. For those who remember, The Atelier didn't exactly set the world alight in terms of sales when launched, but sales have picked up recently (perhaps because of the recent discounts), with the majority of the units now sold out.

The Atelier is roughly a 10+ minutes' walk to Newton MRT (NSL, DTL), and is about the same distance to United Square Mall. You will find a Cold Storage and a Guardian pharmacy here, as well as various eats. You can walk further yet towards the Novena area and the malls (Novena Square, Royal Square) but you'll probably need to head out somewhere else (perhaps Orchard, one train stop away) for bigger retail and recreation options. 

3. One Draycott

Attribute	Info
Location	1 Draycott Park (District 10)
Developer	Champsworth Development Pte. Ltd.
Lease	Freehold
TOP	2023
Number of units	64

One Draycott has a discount specific to Stack 3 (see the project layout for details). We understand the discount pertains to two-bedder units, and it's reportedly up to $150,000, or entry prices of around $3,114 psf. We would expect a quantum of about $2.279 million, which is competitive for an Orchard area condo. 

One Draycott is more of a home buyer's indulgence than any sort of investment; resale gains and rental get a bit volatile for boutique projects. And this is very much a boutique project, with just 64 units. You are in a quieter residential part of Orchard and among very prestigious neighbours (Ardmore Park, Sculptura Ardmore and the like). This could also have been an issue of a unit mix that isn't very popular given its surroundings (just one and two bedders here), as most buyers looking to stay in the Draycott/Ardmore area will be those with deeper pockets that are willing to pay for more space.

That said, units feature the expected luxuries like private lifts and high-quality finishing, plus an easily enclosed kitchen. The project is around a five-minute drive to the Orchard shopping belt, which is pretty much the final word in amenities.

If you want to walk, you'll reach the Orchard Road stretch starting at Palais Renaissance, in about seven minutes. 

For those interested in One Draycott, it's worth noting that the current views across the ex-RGS land might not stick around forever. Under the URA Master Plan, the plot will mostly remain as Education, but a portion of it (along Draycott Park) will be residential developments with the same plot ratio of 2.8.

And from what we know, One Draycott paid up for the ABSD previously, so it doesn't have a timeline constraint unlike some of the others on this list.

4. One Pearl Bank 

Attribute	Info
Location	1 Pearl Bank (District 3)
Developer	CapitaLand
Lease	99-years
TOP	2023
Number of units	774

One Pearl Bank has 45 units left to move, and note that the show flat is closing soon (July 2023). We understand the two-bedders are seeing discounts of up to $18,000, the three-bedders up to $28,000, and the four-bedders up to $38,000. 

After discounts, would expect a quantum of just over $2.04 million for two-bedders, $3 million for three-bedders, and around $3.68 million for four-bedders. This may be a bit much for some buyers, however, when read in the context of the leasehold status. 

Still, we wouldn't expect this project to be cheap, given it's a redevelopment of an architectural icon (the former Pearl Bank from 1976), and its location within Chinatown. 

This is one of the most accessible condos to date, with access to four MRT lines:

Chinatown MRT (DTL, NEL) is about a seven-minute walk, while Outram Park MRT (EWL, NEL, and TEL) is about a minute's walk away from the side gate, and perhaps three minutes from the main entrance (this will be sheltered). People's Park Complex, with its myriad food options, is near the Chinatown MRT station; as are other malls like Chinatown Point. 

While Chinatown is inherently a congested and noisy area, there's some retreat for residents; Pearl's Hill Reservoir is just behind the development, and the area is a city park. 

We did take some issues with the internal layout of some units, which we feel is unique but perhaps not very efficient. This is subjective though, and there's no denying the strength of the location.

ALSO READ: 5 lesser-known freehold 2-bedroom condos $995k and under

This article was first published in Stackedhomes.