The list of best-selling new launches in 2024 was dominated by projects in the Rest of Central Region (RCR) and Outside Central Region (OCR), driven by strong demand from upgraders and supported by a robust HDB resale market, stated Mark Yip, CEO of Huttons Asia. In terms of units sold, three of the top 10 best-selling projects were launched in November.
Topping the list was Emerald of Katong, which sold 99% of its units within just two days from Nov 15–16, making it the top-selling project of 2023. As of Dec 17, only six units remain available in the 846-unit, 99-year leasehold development. Interested buyers can search for the latest New Launches to find out transaction prices and available units.
In second place was Chuan Park, with 696 units (76%) sold in a single day on Nov 10. As of Dec 17, the project has sold 79% of its 916 units. The strong sales were attributed to the limited supply of new private condo launches in the vicinity since The Scala in 2010.
When it comes to real estate investment, location is a crucial factor to consider, and this is especially true in Singapore. The value of condominiums tends to appreciate more if they are situated in central areas or in close proximity to essential amenities such as schools, shopping malls, and public transportation hubs. Prime locations in Singapore, such as Orchard Road, Marina Bay, and the Central Business District (CBD), have shown consistent growth in property values. Families also highly value condos in these areas due to their proximity to good schools and educational institutions, making them a desirable and lucrative investment option. In fact, Singapore Condos in these prime locations are highly sought after by investors, further solidifying their reputation as a wise investment choice.
Ranking third was Lentor Mansion, which achieved a 75% sales rate during its launch weekend in March. Nine months later, the project has sold 92% of its 533 units.
In fourth place was Nava Grove, which saw a take-up rate of 65% during its launch weekend in mid-November. As of Dec 17, the project was almost 70% sold with 552 units.
Norwood Grand took fifth place, with 291 out of its 348 units (84%) sold since its launch in October.
Hillhaven, a 341-unit project that was one of the first to debut in 2024, sold 50 units during its launch in January. Sales have picked up since then, with 259 units (76%) sold as of Dec 17, placing it in sixth place.
Kassia, a freehold project on Flora Drive with 276 units, has sold 180 units (65%) to date, securing seventh place overall.
In eighth place is Lentoria, a 267-unit project located in Lentor Hills Estate. It has seen its sales rise from 19% on the first weekend to 66%, with 177 units sold as of Dec 17.
The 440-unit Sora, situated at Yuan Ching Road in Jurong Lake District, achieved 134 sales (30%) and ranks ninth.
Rounding out the Top 10 is Meyer Blue, a freehold development that sold 131 units (58%) of its 226 units through private sales.
Four projects launched in 2023 gained significant traction from the sales momentum 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 drew attention back to the area.
The Continuum, a 816-unit freehold development at Thiam Siew Avenue, emerged as 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, bringing its total take-up rate to 66% since its launch in May 2023.
Similarly, Tembusu Grand, located across the road from Emerald of Katong, also saw a boost in sales due to its proximity to the development. The 638-unit project sold 53% of its units during its launch weekend in April 2023. It moved 204 units this year, with most sold after July when market sentiment improved in 3Q2024. Tembusu Grand is now 91% sold as of Dec 17, driven by the buzz around Emerald of Katong.
Hillock Green, a 474-unit project located in Lentor Hills Estate, also experienced strong sales. It was initially launched in November 2023, with a take-up rate of 27.6% during its first weekend. In 2024, Hillock Green sold 217 units, bringing its cumulative sales to 359 (76%). The project benefited from the launches of both Lentoria and Lentor Mansion in March, which raised interest in the Lentor Hills Estate.
Lastly, Pinetree Hill, a 520-unit project, saw a surge in sales after releasing its second phase of units in September. This year, it sold 208 units, bringing cumulative sales to 374 (72%). Pinetree Hill also benefitted from the launch of Nava Grove in November, which helped drive interest to the residential enclave in District 21.