Singapore's real estate market experienced a significant upswing in November, driven by the introduction of three distinct projects. The month saw a remarkable 286.2% month-on-month increase in developer sales, marking a pivotal shift in the market landscape.
Key Highlights:
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Project Launches: Three major non-landed projects, Hillock Green, J’den, and Watten House, collectively offered 1,022 units to the private residential property market.
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Sales Performance: The November sales surge resulted in 784 transactions, showcasing a 286.2% increase from October. This marks the highest monthly sales figure since July, demonstrating a substantial market rebound.
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Project Breakdown:
- Hillock Green: Sold 132 units (27.8%)
- J’den: Sold 329 units (89.4%)
- Watten House: Sold 109 units (60.6%)
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Sales by Region: The Outside Central Region (OCR) dominated sales with 73%, while Core Central Region (CCR) recorded 15.5%, and the Rest of Central Region (RCR) saw 11.4%.
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Price Milestones:
- Jurong East Benchmark: J’den set a new price benchmark in Jurong East at $2,475 per square foot.
- Prime Shelford Road: Watten House emerged as the best-selling project in the Core Central Region.
The robust sales performance in November indicates a renewed vigor in the real estate market, with unique and strategically located projects attracting significant buyer interest. Developers' confidence is likely to soar, driven by the strong price points achieved during these launches.
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