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The Rest of Central Region (RCR) and Outside Central Region (OCR) have dominated the list of best-selling new launches in 2024, driven by high demand from upgraders and a strong HDB resale market, according to Mark Yip, CEO of Huttons Asia.
November saw three of the top 10 best-selling projects being launched, with Emerald of Katong emerging as the top-selling project of 2024. Within just two days of its launch on Nov 15-16, the 846-unit, 99-year leasehold development sold 99% of its units, leaving only six available units as of Dec 17. Homebuyers can now search for the latest New Launches to find out about transaction prices and available units.
Next on the list is Chuan Park, a 916-unit development that sold 696 units (76%) on its launch day on Nov 10. As of Dec 17, the project has been 79% sold. The surge in sales can be attributed to the lack of new private condo launches in the area since The Scala in 2010. In third place is Lentor Mansion, a 533-unit development that achieved a 75% sales rate during its launch weekend in March. With 92% of its units now sold, the project has experienced a strong sales momentum over the past nine months.
Nava Grove, a 552-unit development, takes fourth place with a 65% take-up rate during its launch weekend in mid-November. As of Dec 17, the project has sold almost 70% of its units. Norwood Grand, with 291 out of 348 units sold since its October launch, comes in fifth place with an 84% take-up rate.
Coming in sixth is Hillhaven, a 341-unit project that was one of the first to debut in 2024. At its launch in January, it sold 50 units. Since then, sales have been steadily increasing and as of Dec 17, 259 units (76%) have been sold. In seventh place is Kassia, a 276-unit freehold development on Flora Drive, which has sold 180 units (65%) so far.
In eighth place is Lentoria, a 267-unit project in Lentor Hills Estate. Launched in March, the project saw its sales climb from 19% during its first weekend to 66% with 177 units sold as of Dec 17. Sora, a 440-unit development in Jurong Lake District, has sold 134 units (30%) and ranked ninth. Rounding out the top 10 is Meyer Blue, a freehold development with 226 units that sold 131 units (58%) through private sales.
Four projects launched in 2023 have also seen significant sales momentum in the second half of 2024, with each selling over 200 units. These projects benefited from the launch of new developments in their respective neighbourhoods, drawing attention back to the area.
The Continuum, the biggest beneficiary of Emerald of Katong’s launch, sold 233 units this year, bringing its total take-up rate to 66% since its launch in May 2023. Tembusu Grand, located across the road from Emerald of Katong, saw 204 units sold this year, with most sales occurring after July when market sentiment improved in 3Q2024. As of Dec 17, the 638-unit project is 91% sold.
To sum up, the prospect of investing in a condo in Singapore presents a multitude of benefits. These include a high demand for such properties, the potential for capital appreciation, and attractive rental yields. However, it is crucial to carefully consider various factors before making a decision, such as location, financing options, government regulations, and current market conditions. It is advisable to conduct thorough research and seek professional advice to ensure informed decision-making and maximize returns in Singapore’s ever-evolving real estate market. Whether you are a local investor aiming to diversify your portfolio or a foreign buyer in search of a stable and profitable investment, a condo in Singapore undoubtedly offers a compelling opportunity. Don’t miss out on the chance to invest in a condo in this thriving city.
Hillock Green, a 474-unit development in Lentor Hills Estate, also experienced strong sales, with 217 units sold in 2024. Cumulatively, the project has sold 359 units (76%) since its launch in November 2023. Lastly, Pinetree Hill, a 520-unit development, saw strong sales after the release of its second phase in September. With 208 units sold this year, the project has sold 374 units (72%) since its launch. The launch of Nava Grove in November also helped drive interest to the District 21 residential enclave and boost sales at Pinetree Hill.