New launch projects in Singapore are highly sought-after in the property market. Typically, new launches are appealing because they offer more choices of units, new facilities, and more discounts from developers. These projects give buyers more ability to select an ideal home based on unit size, floor level, and where the unit is facing. As these are new, they will also come with fewer maintenance costs and more new facilities to enjoy. Some developers also offer early bird discounts through either a direct price discount or by absorbing some stamp duties. Progressive Payment Schemes (PPS) also allow for smaller upfront payments at the start, as these projects are still being built out. The process for new launches starts when real estate developers bid for state land under the Government Land Sales (GLS) programme or through en bloc (collective) sales. After a few months into pre-launch, potential buyers can visit showflats to view their ideal homes. Once a launch is announced, buyers can start to bid and move in after the TOP (Temporary Occupation Permit).
