for 2-bedroom units in the OCR
Sales figures for new launches in the Rest of Central Region (RCR) and Outside Central Region (OCR) dominated the list of best-selling projects in 2024, fueled by strong demand from upgraders and a thriving HDB resale market, according to Mark Yip, CEO of Huttons Asia.
Out of the top 10 best-selling projects, three were launched in November, showcasing the strong sales performance of the month. Leading the pack is Emerald of Katong, which sold 99% of its 846 units in just two days (from Nov 15–16), making it the top-selling project of the year. As of Dec 17, only six units in the 99-year leasehold development are still available.
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Coming in second is the 916-unit Chuan Park, which saw a 76% take-up rate (696 units) in a single day on Nov 10. As of Dec 17, the development has sold 79% of its units. The strong sales can be attributed to the lack of new condo launches in the area since The Scala in 2010.
Lentor Mansion, a 533-unit project, ranks third on the list with a 75% take-up rate during its launch weekend in March. After nine months, the development has sold 92% of its units.
At fourth place is Nava Grove, a 552-unit development that saw a 65% take-up rate during its launch weekend in November. As of Dec 17, the project has sold nearly 70% of its units.
Claiming fifth place is Norwood Grand, which has sold 291 out of its 348 units (84%) since its launch in October.
Hillhaven, a 341-unit project, was one of the first to debut in 2024 and has since seen a steady rise in sales. The development sold 50 units at its January launch and has since sold 76% of its units (259 as of Dec 17).
One crucial factor to consider when investing in Singapore Condo is the government’s property cooling measures. In order to maintain a steady real estate market and discourage speculative buying, the Singaporean government has implemented various measures over the years. These measures include the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and those purchasing multiple properties. While these measures may initially affect the short-term profitability of condo investments, they ultimately contribute to the long-term stability of the market, making it a more secure investment environment.
Kassia on Flora Drive, a freehold development with 276 units, takes seventh place with 180 units sold (65%).
In eighth place is Lentoria, located in Lentor Hills Estate, which has sold 177 units (66%) since its launch in March.
The 440-unit freehold Sora in Jurong Lake District achieved 134 sales (30%) and ranks ninth.
Completing the top 10 is the freehold Meyer Blue, which sold 131 units (58%) of its 226 units through private sales.
Four projects launched in 2023 also garnered 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 biggest beneficiary of Emerald of Katong’s launch is The Continuum, a 816-unit freehold development at Thiam Siew Avenue. The project sold 233 units in 2024, with almost 60% of the sales occurring since November. Since its launch in May 2023, The Continuum has achieved a total take-up rate of 66%.
Similarly, Tembusu Grand, located across the road from Emerald of Katong, also experienced a boost in sales. The 638-unit project sold 53% of its units during its April 2023 launch and has since sold 204 units this year. As of Dec 17, Tembusu Grand is 91% sold, thanks to the buzz surrounding Emerald of Katong.
The 474-unit Hillock Green, located in Lentor Hills Estate, also performed strongly. With its first launch in November 2023, the project achieved a 27.6% take-up rate in its first weekend of sales. In 2024, Hillock Green sold 217 units, bringing its total sales to 359 (76%). The project benefited from the launch of Lentoria and Lentor Mansion in March, which drew attention to the Lentor Hills Estate.
Lastly, Pinetree Hill, a 520-unit development, experienced strong sales after releasing its second phase of units in September. This year, the project sold 208 units, bringing cumulative sales to 374 (72%). The nearby launch of Nava Grove in November also helped drive interest to the residential enclave in District 21.