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Text by Wong Siew Ying | Photos from Chip Eng Seng and Lendlease | 4 February 2017
Last month's tepid new private home sales tally that spelt a soft end to an otherwise bright year could soon be a distant memory. In a lively start to the year, the new private home market is expected to welcome as many as four project launches by April.

One standout is the highly anticipated Park Place Residences at Paya Lebar Quarter (PLQ) - part of a $3.2 billion mega mixed-use project by Lendlease and Abu Dhabi Investment Authority. The other three upcoming condominium launches are Grandeur Park Residences in Tanah Merah, Clement Canopy in Clementi and Seaside Residences in Siglap.

An artist's impression of the upcoming project in Paya Lebar Quarter

New home sales typically get a lift when a major project debuts on the market, particularly with brisk demand for smaller and more affordable units. Last month, developers sold just 367 new units - the lowest level in 10 months - on the back of a paltry 90 new units launched.

Despite the subdued monthly sales, the number of new private homes sold last year still hit 7,972 units, up by about seven percent from the 7,440 shifted in 2015. Consultancy Knight Frank expects the sales volume to be around 8,000 to 9,000 units this year amid 'gradually returning interest' from locals and foreign buyers.

This upturn in market sentiment, market analysts say, bodes well for new home sales. "With more people believing that the market is now close to the bottom of the down cycle, interest in the new launches will likely be sustained," said Cushman & Wakefield Research Director Christine Li.

Property agents expect Singland Homes and UOL Group's Clement Canopy to be the first cab off the rank, launching perhaps as soon as the middle or later part of next month. One-bedroom units - popular with investors of late - will, however, be conspicuously absent at the 505-unit condo development.

Clement Canopy will feature two to four-bedroom apartments with sizes ranging from 635 square feet (59m2) to more than 1,500 square feet (139m2). Among the upcoming launches, the highest profile project is probably the 429-unit Park Place Residences at PLQ, Lendlease's first residential development here.