Large-scale projects to boost 2024 sales momentum in November

Experts expect full-year sales to fall between 5,000 to 6,000.

Developers' sales in 2024 are expected to increase, particularly in November, fueled by new project launches, improved economic conditions, and boosted buyer confidence from recent interest rate cuts, analysts said.

OrangeTee forecasts a surge in November sales, with over 2,500 new homes entering the market, including large-scale launches like Chuan Park, Emerald of Katong, Nava Grove, Novo Place (EC), The Collective at One Sophia, and Union Square Residences.

As of 10 November, Chuan Park emerged as the best-selling project of 2024, with 696 units sold.

Meanwhile, The Collective at One Sophia sold 37 units during a private preview, and Union Square Residences recorded 78 units sold.

Interest in Emerald of Katong was exceptionally high, with over 3,600 cheques collected, whilst Nava Grove and Novo Place were also oversubscribed, reflecting strong market demand.

Huttons projected total sales for 2024 to be between 5,500 and 6,000 units, with prices remaining stable and rising by up to 3% for the year.

November sales could reach 2,100 units, marking the first time monthly sales exceed 2,000 units since March 2013.