Chart of the Day: These developers had the highest sales in 2019

Oxley had a sell-through rate of 50% across 11 projects.

This chart from DBS Bank shows that the top 10 developers by units have cleared between 13% to 50% of their total units as of the first 11 months of 2019.

City Developments recorded the biggest percentage of units sold at 53%, followed by MCL Land (52%) and Oxley and Partners (50%). They make up the top three developers in terms of units.

However, Kingsford’s sales license for the former Normanton Park condo site was delayed, and Guocoland and Allgreen posted low sell-through rates as of Q3 2019.

Developers are increasingly cautious towards land-banking, focusing instead on clearing their inventories. “With the 5-year Additional Buyer Stamp Duty (ABSD) deadline to come from 2021 onwards, we anticipate a faster momentum for selective projects,” the report stated.