Investing in real estate requires careful consideration of location, and this holds especially true in Singapore. Condos situated in prime areas or near important amenities such as schools, shopping centers, and public transportation hubs have a higher potential for appreciation in value. Prime locations in Singapore include Orchard Road, Marina Bay, and the Central Business District (CBD), where property values have consistently shown growth. Families also prefer condos in these areas due to their proximity to top-rated schools and educational institutions, making them highly sought after for investment opportunities. Condo
The best-selling new launches of 2024 were overwhelmingly located 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, according to Mark Yip, CEO of Huttons Asia.Based on the number of units sold, three out of the top 10 best-selling projects were launched in November. The rapid sell-out of these projects was largely due to their prime locations, competitive pricing and rising demand from price-sensitive buyers.The best-selling project of 2024 was Emerald of Katong, located in the East Coast area. The 846-unit, 99-year leasehold development sold 99% of its units within just two days, from November 15-16. Its popularity can be attributed to its convenient location, high-quality finishes and competitive pricing. With only six available units left as of December 17, it is expected to see full sell-out soon.Emerald of Katong, located in the popular East Coast area, is the top-selling project of 2024, boasting a 99% sales rate within just two days (Photo: Kingsford Group)The second best-selling project of the year was Chuan Park, located in the RCR, which saw 696 units (76%) sold in a single day on November 10. As of December 17, the project had reached a sales rate of 79%. The strong interest can be attributed to a lack of new private condo launches in the neighborhood since The Scala in 2010.In third place was Lentor Mansion, located in the OCR, which witnessed strong sales of 75% during its launch weekend in March. Nine months later, the project had sold 92% of its units, showcasing the strong demand for OCR properties.In fourth place was Nava Grove, also located in the RCR, which saw a take-up rate of 65% during its launch weekend in mid-November. As of December 17, the development was almost 70% sold.The 846-unit Emerald of Katong, situated in the popular East Coast area, was the top-selling project of 2024 (Photo: Kingsford Group)Other notable projects that made it to the top 10 include Norwood Grand, Hillhaven, Kassia, Lentoria, Sora, and Meyer Blue.In addition, four projects launched in 2023 saw increased interest in the second half of 2024, each moving more than 200 units. These developments benefited from the launch of new developments in their respective neighborhoods, which helped attract buyers to the area.For example, The Continuum, a freehold development with 816 units, saw a total take-up rate of 66% since its launch in May 2023, with almost 60% of the sales occurring since November. Tembusu Grand, located across the road from Emerald of Katong, saw 204 units sold this year, with a sales rate of 91% as of December 17. Similarly, Hillock Green and Pinetree Hill also saw strong sales after the release of new units and the launch of other nearby developments.Overall, the top-selling new launches of 2024 were predominantly located in the RCR and OCR, with buyers attracted to prime locations, competitive pricing and strong demand from the HDB resale market. This trend is expected to continue in the coming years, driven by ongoing demand from upgraders and an expected recovery in the property market.