of new condos in District 18
A new report by the real estate agency Huttons Asia has revealed that projects in the Rest of Central Region (RCR) and Outside Central Region (OCR) dominated the list of best-selling new launches of 2024. This was driven by strong demand from upgraders, supported by a robust Housing and Development Board (HDB) resale market.
According to Mark Yip, CEO of Huttons Asia, three of the top 10 best-selling projects were launched in November, with Emerald of Katong taking the top spot. The 846-unit, 99-year leasehold development sold 99% of its units within just two days, making it the top-selling project of 2024. As of December 17, there are only six units left available.
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Following close behind is Chuan Park, which saw 696 units (76%) sold in a single day on November 10. As of December 17, the project is 79% sold. The strong sales were attributed to the lack of new private condo launches in the neighbourhood 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 takes fourth place, with a 65% take-up rate during its launch weekend in mid-November. By December 17, the project was nearly 70% sold.
Norwood Grand claims fifth place, with 291 of its 348 units (84%) taken since its launch in October. The 341-unit Hillhaven was one of the first projects to debut in 2024, with 259 units (76%) sold as of December 17, putting it in sixth place. In seventh place is the 276-unit freehold Kassia on Flora Drive, which has moved 180 units (65%) to date.
Lentoria, a 267-unit development located in Lentor Hills Estate, is in eighth place, having sold 177 units (66%) since its launch in March. The 440-unit Sora in the Jurong Lake District has achieved 134 sales (30%) and ranks ninth, while the freehold Meyer Blue rounds out the top 10 with 131 units (58%) sold out of its 226 units through private sales.
Four projects launched in 2023 saw significant traction in the second half of 2024, each moving more than 200 units. These projects benefited from the launch of new developments in their respective neighbourhoods, which brought attention back to the area.
One of these projects is the 816-unit, freehold The Continuum, which saw 233 units sold in 2024, with almost 60% of the sales occurring after November. Similarly, Tembusu Grand, located across the road from Emerald of Katong, benefited from its proximity to the development. The 638-unit project saw 53% of its units sold during its launch weekend in April 2023 and has moved 204 units this year. It is 91% sold as of December 17, bolstered by the buzz around Emerald of Katong.
Hillock Green, a 474-unit development in Lentor Hills Estate, also performed well, achieving a take-up rate of 27.6% during its first weekend of sales in November 2023. In 2024, the project sold 217 units, bringing its cumulative sales to a strong 359 (76%). Similarly, the 520-unit Pinetree Hill saw strong sales following the release of its second phase of units in September. This year, the project sold 208 units, bringing its total sales to 374 (72%).