Developer Sales: 29 Apr – 5 May 2024

Developer Sales: 29 Apr – 5 May 2024

The real estate market in Singapore saw modest yet promising activity in the week of 29 Apr – 5 May 2024, with developers' sales totaling 78 units. Notably, the Core Central Region (CCR) contributed 14.1%, followed by the Rest of Central Region (RCR) at 17.9%, and the Outside Central Region (OCR) dominating with 67.9%.

Highlighting the market dynamics, top-selling projects varied across regions: Cuscaden Reserve and The Residences at W Singapore Sentosa Cove led in the CCR, Grand Dunman in the RCR, and EC – North Gaia in the OCR.

A positive trend emerged in the luxury non-landed homes market, indicating stabilization in the first quarter of 2024. With a 17.6% increase quarter-on-quarter (QoQ) in transactions, the market showcased resilience amidst global uncertainties.

Singapore's status as a safe haven was underscored by heightened geopolitical tensions, driving increased interest among buyers. This sentiment, coupled with the allure of luxury living, fueled a slight uptick in rental volumes, with 569 units leased in Q1 2024.

Anticipating a rise in transactions, the market is poised for further growth, as evidenced by the recent sale of four units at 32 Gilstead in April 2024. Moreover, the imminent launch of ultra-luxury projects like Newport Residences and Skywaters Residences adds to the market's anticipation and potential.

In summary, the Singapore real estate market continues to exhibit resilience and promise, offering opportunities for investors and homeowners alike.

For the latest updates and insights on Singapore's dynamic real estate landscape, stay tuned and reach out to stay informed.

Back to blog