The CCR accounted for 7.8% while the RCR and OCR made up 26.6% and 65.6%
The respective top-selling projects in the CCR is 32 Gilstead, followed by The Continuum in the RCR and Hillhaven in the OCR
The land sales market was relatively subdued in the past 6 months due to the high interest rate, high construction costs and modest take-up at launches
LBC for Group B2 (non-landed) for Sept 2024 to Mar 2025 have declined by 5.4% on average due to the subdued land bids
The lower LBC rates for Group B2 (non-landed) is unlikely to lead to an increase in enbloc activities
The expected interest rate cut in Sept 2024 may boost demand
If the sales take-up at launches improve, developers may need to replenish their land bank earlier
Nevertheless developers are expected to be cautious in bidding for land thus LBC rates for Group B2 are estimated to stay stable moving forward.
