The list of top-selling new launches of 2024 was dominated by projects in the Rest of Central Region (RCR) and Outside Central Region (OCR), according to Mark Yip, CEO of Huttons Asia. Upgraders showed a strong demand for these projects, with support from a robust HDB resale market.
Out of the top 10 best-selling projects, three were launched in November. The leading development was Emerald of Katong, which sold 99% of its units in just two days from Nov 15 to 16, making it the top-selling project of 2024. The 846-unit, 99-year leasehold development now has only six units available as of Dec 17.
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In second place, with 76% of its 916 units sold within a single day on Nov 10, was Chuan Park. As of Dec 17, the project was 79% sold. The high sales were due to the scarcity of new private condo projects in the neighborhood since The Scala in 2010.
Coming in third with 75% sales during its launch in March, is the 533-unit Lentor Mansion. After nine months, the project has now sold 92% of its units. In fourth place is the 552-unit Nava Grove, which achieved a 65% take-up rate in mid-November and is now almost 70% sold.
In fifth place is Norwood Grand, with 291 out of its 348 units sold since its launch in October. In sixth place is Hillhaven, which debuted in January and sold 50 units. Now with 76% of its 341 units sold, Hillhaven has moved up the list.
At seventh place is Kassia on Flora Drive, with 180 out of its 276 freehold units sold (65%). Lentoria, with 177 units sold (66%), is in eighth place. Located in Lentor Hills Estate, the project was launched in March and has seen its sales climb from 19% on the first weekend to 66%.
The 440-unit Sora in Yuan Ching Road in Jurong Lake District has achieved 134 sales (30%) and ranks ninth. In tenth place is Meyer Blue, which sold 131 out of its 266 freehold units (58%) through private sales.
Four projects launched in 2023 also saw significant sales in the latter half of 2024, with each moving more than 200 units. These projects benefited from the launch of new developments in their respective neighborhoods, drawing attention back to the area.
The Continuum, a 816-unit freehold development at Thiam Siew Avenue, emerged as the biggest beneficiary of Emerald of Katong’s launch. With 233 units sold this year, the project’s total take-up rate is now at 66% since its launch in May 2023.
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Tembusu Grand, located across the road from Emerald of Katong, sold its 638 units at a rate of 53% during its launch in April 2023. With most of the sales taking place after July when market sentiment improved in 3Q2024, Tembusu Grand is now 91% sold as at Dec 17.
Hillock Green, a 474-unit development located in Lentor Hills Estate, was initially launched in November 2023 and achieved a take-up rate of 27.6% in its first weekend. This year, Hillock Green sold 217 units, bringing cumulative sales to 359 (76%). The project benefited from the launches of both Lentoria and Lentor Mansion in March, which brought renewed attention to the Lentor Hills Estate.
Lastly, the 520-unit Pinetree Hill experienced strong sales following the release of its second phase of units in September. This year, the project sold 208 units, bringing cumulative sales to 374 (72%). The nearby launch of Nava Grove in November also helped drive interest to the District 21 residential enclave.
Overall, projects in the RCR and OCR regions dominated the list of best-selling new launches in 2024, with strong demand from upgraders and a robust HDB resale market.