According to a survey by real estate agency Huttons Asia, Singapore’s private non-landed sector continues to be in healthy demand as the new developer sales see 133 units sold for the week of 2-8 Nov.
Units sold in developments outside the Central Area (OCR) and the remainder of the Central Region (RCR) accounted for 35.5 percent and 46.6 percent of overall revenue, while 18 percent was in the Main Central Region (CCR).
With 13 units leased, the total highest performing mass retail project heads to The Garden Homes. Centrally situated within Serangoon (District 19), the 99-year leasehold condominium is similar to TOP in 2021.
Forett comes in near second with 11 units sold at Bukit Timah in District 21, rendering it the top selling development in the West Region. It was the first large-scale initiative to be initiated after the reopening of Phase 2 of Singapore ‘s economy.
Treasure in Tampines sold 6 units and is the East Zone’s best-selling development. With 2,203 units, this District 18 land is also reportedly Singapore’s largest condominium.
Inside the CCR, Nouvel 18 continues to see a continued demand from high-net – worth individuals with 5 sold units, and with major marketing rolled out, Riviere has seen a revived interest.
Demand seems to have stabilized at “a comfortable rate of between 130 and 150 units per week after tougher choice re-issue regulations.”
Lee expects the industry to see further product releases emerge in the weeks ahead, beginning on 14 November with The Linq @ Beauty World. On Upper Bukit Timah Lane, the freehold mixed-use condo will have half its units facing the Bukit Timah Nature Reserve.