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Latest Property Real Estate News - Published on 16/12/2019
FOR IMMEDIATE RELEASE 16 December 2019 – A total of 1,147 units of Private New Homes (Excluding ECs) were sold for the month of November. This was a 23.2% month-on-month (m-o-m) increase in the number of units sold, as compared to the 931 units transacted in the previous month.
Chief Executive Officer of PropNex Realty, Mr Ismail Gafoor mentioned that, “The attractiveness of the newly launched projects such as Sengkang Grand Residences and One Holland Village Residences, provided the added boost in drawing buyers and investors for the month of November. With sales crossing the 1,000-unit mark for the 5th month in 2019, as compared to the 3 months in 2018. Existing projects that were previously launched, such as Parc Esta (launched in Nov 2018), Jadescape (launched in Sept 2018) and Parc Botannia (launched in Nov 2017), have continuously retained its desirability due to its attractive pricing.”
The top 5 best-selling new launches for the month of November were Sengkang Grand Residences, Parc Esta, One Holland Village Residences, Jadescape And Parc Botannia. Sengkang Grand Residences was the top selling development, with a total of 235 units sold at a median price of $1,741 psf. While, the second best-selling project was Parc Esta, which sold a total of 102 units at a median price of $1,685 psf.
Mr.Ismail further remarked that, “The sales volume reached a total of 9,547 units (Excluding ECs) for the 11 months in 2019. This has essentially, exceeded the total units sold for the entire year of 2018, which recorded 8,795 units (Excluding ECs). A 8.6% rise in the number of units sold. Historically, the month of December experiences a lull period as a result of the holiday season. Including the sales figures for the month of December, we are expecting the year will likely end by reaching 10,000 units to be sold (excluding ECs). With an anticipated line-up of over 37 projects, we are expecting the momentum of buyers and investors to remain favorable in 2020 as well, with sales likley to be in the projection of 9,000-10,000 units.”