Developer sales figures for the month of September jumped 90.0% to 401 units and 84.8% year-on-year largely due to the resumption of launches.
437 units were launched for sale by developers in Sep 2024, 60.7% higher than Aug 2024 and 542.6% higher than Sep 2023. The first launch after the Lunar Seventh Month, 8@BT sold more than 50% on launch weekend. Meyer Blue also sold more than 50% on launch weekend in Oct 2024.
Developers’ sales in Oct 2024 are likely to exceed 500 units and this improving sales momentum comes at an opportune time as the market gears up for more launches like Chuan Park, Emerald of Katong, Nava Grove, Norwood Grand, Novo Place (EC) and Union Square Residences in the next two months. In addition, prices are expected to be stable, increasing up to 2% in 2024.
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Source: Huttons Research
