933 private homes and condo units sold in November

Only an executive condo, Parc Botannia, was able to sell above 100 units.

A total of 785 private new homes excluding executive condominiums (EC) and another 148 ECs were bought in November.

According to PropNex Realty, November’s performance can be deemed as commendable, despite having only one new launch at Parc Botannia which accounted for 32.2% of units sold for a median price of $1,287 psf.

A total of 253 units of Parc Botannia were sold in the month of November when it was launched. Besides this, none of the projects crossed the 100 units mark.

Sales have been strong for all past launches with 71 units sold at Queens Peak at Rest of Central Region (RCR) in November.

PropNex Realty CEO Ismail Gafoor said the pickup in private home sales can be attributed to "the positive market sentiments and greater confidence as more investors and home upgraders are picking up units that are rightly priced."

Meanwhile, sales in December and January are likely to decline due to the seasonal school holidays and start of a new year; and lack of major projects slated for launch, Gafoor added.