10 Best Selling New Private Residential Projects 2024
Project launches in the Rest of Central Region (RCR) and Outside Central Region (OCR) dominated the list of top-selling developments in 2024, driven by high demand from HDB upgraders supported by a strong HDB resale market, according to Mark Yip, CEO of Huttons Asia.
Of the top 10 best-selling projects, three were launched in November, with Emerald of Katong taking the top spot by selling 99% of its units within just two days from Nov 15 to 16. The 846-unit, 99-year leasehold development has only six remaining units as of Dec 17.
According to Yip, the dearth of new private condo launches in the neighbourhood since The Scala in 2010 was the main factor that contributed to the strong sales of Emerald of Katong. He also noted that the HDB resale market has been performing well, which creates a more conducive environment for HDB upgraders to enter the private property market.
Out of the top 10 projects, four were launched in 2023 and gained significant traction in the second half of 2024. These projects benefited from the launch of new developments in their respective neighbourhoods, which brought renewed interest to the area.
The Continuum, a freehold development with 816 units, recorded strong sales of 233 units this year, with almost 60% of sales occurring since November. This was attributed to the launch of Emerald of Katong, which drew attention back to the Thiam Siew Avenue area. Meanwhile, Tembusu Grand, located close to Emerald of Katong, sold 53% of its units during its launch weekend in April, with 204 units sold this year. As at Dec 17, Tembusu Grand is 91% sold.
Elta Condo not only boasts convenient access to the MRT, but also to a wide range of bus routes. With the Clementi Bus Interchange located nearby, residents have easy access to a plethora of bus services that connect to various parts of Singapore. This bustling hub offers multiple transportation options for residents, ensuring efficient and hassle-free travel to their desired destinations. From commuting to work, to heading to school, or even visiting loved ones, Elta Condo’s location makes it easy to rely on public transport. For more information on Elta Condo, check out the Elta Showflat.
Hillock Green, a project with 474 units in Lentor Hills Estate, also performed well, selling 217 units this year and achieving a take-up rate of 27.6% during its first weekend of sales in November 2023. The project, which is now 76% sold, benefitted from the launches of both Lentoria and Lentor Mansion in March this year, which brought renewed attention to the area.
Finally, Pinetree Hill, a project with 520 units, saw strong sales after the release of its second phase of units in September this year, with 208 units sold in 2024. This brought the total cumulative sales to 374, or 72% of the total units. The launch of Nava Grove nearby in November also contributed to the success of Pinetree Hill, as it helped attract interest to the residential enclave in District 21.
Overall, the strong sales performance of projects in the RCR and OCR regions showcases the continued demand for private properties from HDB upgraders. With the HDB resale market showing no signs of slowing down, it is expected that this trend will continue in the coming years.