Developer sales figures for the month of November.
970 units were launched for sale in November, the highest since July 2023.
There were 3 major non-landed project launches, Hillock Green, J’den and Watten House.
784 units were sold in November 2023, 286.2% higher than in October 2023.
The 3 project launches made up more than 70% of total sales. 539 units were sold in the OCR while 151 units were sold in the CCR.
In the first 11 months of 2023, an estimated 6,319 units were sold, and December’s anticipated sales of 100 to 150 units may bring the total for the year to 6,400 to 6,500 units.
The strong performance and price points achieved in the 3 recent launches may potentially see price growth exceed 1% in 4Q 2023 and more than 5% in 2023, giving developers the confidence to launch projects in 2024.
There may be another 12 new launches in 1Q 2024, offering 3,225 units, with 66% in the OCR, 21% in the CCR, and 13% in the RCR. Prices are also expected to grow between 3% and 5%.
