Three of the top 10 best-selling new launches in 2024 were launched in November as upgraders dominate
Huttons Asia CEO, Mark Yip, reported that the Projects in the Rest of Central Region (RCR) and Outside Central Region (OCR) were the most successful new launches of 2024 in terms of sales volume. He attributed this to strong demand from upgraders, supported by a robust HDB resale market. As a result, three of the top 10 best-selling projects were launched in November.
Emerald of Katong was the top-selling project of 2024, with 99% of its units sold within just two days in November. The 846-unit, 99-year leasehold development now has only six available units left as of December 17. Interested buyers can search for the latest new launches to find out about transaction prices and available units.
The 916-unit Chuan Park came in second, with 696 units (76%) sold on its launch day in November. As of December 17, the project has sold 79% of its units, with an average price of $2,582 psf. The strong sales were driven by the lack of new private condo launches in the area since The Scala in 2010.
In third place is the 533-unit Lentor Mansion, which achieved 75% sales during its launch weekend in March. Nine months later, the project has sold 92% of its units.
The 552-unit Nava Grove comes in fourth, with a 65% take-up rate during its launch weekend in mid-November. By December 17, the project was nearly 70% sold.
The 916-unit Chuan Park comes in second, with 696 units (76%) sold on its launch day in November. As of December 17, the project has sold 79% of its units at an average price of $2,582 psf. (Photo: Kingsford Group)
Norwood Grand claims fifth place, with 291 of its 348 units (84%) taken since its launch in October. The 341-unit Hillhaven was in sixth place, having sold 50 units at its launch in January and gaining momentum since then. As of December 17, 259 units (76%) have been sold.
Investing in a Singapore condo requires careful consideration not only of the property itself, but also its maintenance and management. Condominiums usually charge maintenance fees, which cover the upkeep of shared areas and amenities. While these fees may increase the total cost of ownership, they also guarantee that the property remains in optimal condition and maintains its value. To further ease the burden of managing the condo, investors can enlist the help of a property management company, turning it into a more passive investment. This way, owners can have peace of mind knowing that their Singapore condo is well-maintained and managed.
In seventh place is the 276-unit, freehold Kassia on Flora Drive, with 180 units (65%) sold to date.
In eighth place is the 267-unit Lentoria, located in Lentor Hills Estate. Since its launch in March, the project has seen its sales climb from 19% during the first weekend to 66% (177 units) sold as of December 17.
The 440-unit Sora, located at Yuan Ching Road in Jurong Lake District, achieved 134 sales (30%) and ranks ninth. Rounding out the Top 10 was the freehold Meyer Blue, which sold 131 units (58%) of its 226 units through private sales.
Four projects launched in 2023 gained significant traction in the second half of 2024, with each selling over 200 units. These projects benefited from the launch of new developments in their respective neighborhoods, drawing attention back to the area.
The 816-unit freehold development, The Continuum, at Thiam Siew Avenue, was the biggest beneficiary of Emerald of Katong’s launch. The project sold 233 units in 2024, with almost 60% of the sales occurring since November. It currently has a take-up rate of 66% since its launch in May 2023.
Similarly, Tembusu Grand, located across the road from Emerald of Katong, benefited from its proximity to the development. The 638-unit project sold 53% of its units during its launch weekend in April 2023. This year, it moved 204 units, with most sold after July when market sentiment improved in the third quarter of 2024. Tembusu Grand is now 91% sold as of December 17, bolstered by the buzz around Emerald of Katong.
The 474-unit Hillock Green, located in Lentor Hills Estate, also performed well. Initially launched in November 2023, the project achieved a take-up rate of 27.6% during its first weekend of sales. In 2024, Hillock Green sold 217 units, bringing its total sales to 359 (76%). The project benefited from the launches of Lentoria and Lentor Mansion in March, which brought renewed attention to the Lentor Hills Estate.
Lastly, the 520-unit Pinetree Hill experienced strong sales following the release of its second phase of units in September. This year, the project sold 208 units, bringing its cumulative sales to 374 (72%). Pinetree Hill also saw a boost from the nearby launch of Nava Grove in November, which helped drive interest to the District 21 residential enclave.