The executive condominium (EC) segment was the star performer in November, with 855 new units sold compared to just 412 in the private sector, data from the Urban Redevelopment Authority (URA) showed.
Majority of sales came from Lake Life EC, which moved 533 units at a median price of $869 psf.
“The success of Lake Life could be attributed to the presence of latent demand in Jurong West, which has not seen a new EC project since the launch of The Floravale in Q2 1999,” noted Desmond Sim, Head, CBRE Research, South East Asia.
This was followed by two other ECs – Bellewaters and Bellewoods with 170 and 79 units taken up respectively.
The best-selling private condo project last month was the 250-unit Tre Residences, which found buyers for 52 units at a median price of $1,588 psf.
According to OrangeTee, sales in the Outside Central Region (OCR) dominated with 186 units sold. The Rest of Central Region (RCR) and Core Central Region (CCR) recorded 147 and 79 transactions respectively.
Looking ahead, the consultancy foresees a lull in property buying activity during December due to the festive season and many buyers going on holiday. As such, developers are likely to hold back new launches and strategise for 2015.
Here’s a list of the four most popular projects in November – Lake Life, Bellewaters, Bellewoods and Tre Residences.
1. Lake Life EC (OCR)
Developer: Evia Real Estate led consortium
Tenure: 99-year leasehold
Nearest MRT station: Lakeside
Median price: $869 psf
Sales update: 533 of the total 546 units sold.
2. Bellewaters EC (OCR)
Developer: Qingjian Realty
Tenure: 99-year leasehold
Nearest MRT station: Sengkang
Median price: $813 psf
Sales update: 170 of the total 651 units sold.
3. Bellewoods EC (OCR)
Developer: Qingjian Realty
Tenure: 99-year leasehold
Nearest MRT station: Admiralty
Median price: $800 psf
Sales update: 79 of the total 561 units sold.
4. Tre Residences (RCR)
Developer: Sustained Land and MCC Land
Tenure: 99-year leasehold
Nearest MRT station: Aljunied
Median price: $1,588 psf
Sales update: 52 of the total 250 units sold.
Image: A potential buyer being shown the scale model of Lake Life EC. (Photo by Evia Real Estate)
Romesh Navaratnarajah, Singapore Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg
