133 condo units sold in first week of Nov: Huttons

November 11, 2020

Nouvel 18 - Prime freehold project minutes from Orchard Road-crop

Units sold in developments located within the OCR and the RCR made up 35.5% and 46.6% of the total sales, while the CCR accounted for 18%.

Singapore’s private non-landed market continued to be in healthy demand as the latest developer’s sales saw 133 units sold for the week of 2 to 8 Nov, according to a report by real estate agency Huttons Asia. 

Units sold in developments located within Outside of Central Region (OCR) and the Rest of Central Region (RCR) made up 35.5% and 46.6% of the total sales, while the Core Central Region (CCR) accounted for 18%.

The overall best-selling mass-market project was The Garden Residences, with 13 units sold. The 99-year leasehold condominium is located centrally within Serangoon (District 19), and is near its TOP in 2021. 

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Coming in close second is Forett at Bukit Timah in District 21 with 11 units sold, making it the highest sold development within the West Zone. This was first large-scale project to launch after Phase 2 of the reopening of Singapore’s economy.

Treasure at Tampines sold 6 units, and was the best-selling development in the East Zone. With a total of 2,203 units, this District 18 property is also currently the largest condominium in Singapore. 

Within the CCR, Nouvel 18 continued to see a sustained interest from high-net-worth individuals with 5 units sold, and Riviere saw renewed interest with substantial promotion rolled out, selling 5 units.

Lee Sze Teck, Director of Research at Huttons Asia, observes that the market appears to have settled into “a comfortable pace of between 130 and 150 units per week after stricter regulations on the reissue of options.”

Suggested Read: 6 Most Promising Condos in the Downtown Core

Lee expects the market to see more movement new launches appear in the weeks ahead, starting with The Linq @ Beauty World on 14 November. The freehold mixed-use development on Upper Bukit Timah Road will feature 120 residential units ranging from one to four bedrooms. 

Early bird prices for the one-bedroom units start from $98x,xxx, $1,2xx,xxx for the two-bedders, $1,6xx,xxx for the three-bedders and $2,7xx,xxx for the four-bedders.

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