City fringe condos dominate November home sales

RCR homes accounted for over 60% of deals.

Residential developments in the Rest of Central region witnessed extremely brisk sales in November, driven by the launch The Poiz Residences in Potong Pasir.

The Poiz Residences accounted for 36% of sales last month, after selling 277 units at an average price of $1,440 psf.

According to OrangeTee Research, the majority or 84.6% of the units launched in November were located in the RCR. A total of 504 projects were sold in the region.

The five top-selling projects were all located in the RCR, namely The Poiz Residences, Sky Vue, Principal Garden, Sims Urban Oasis, and Thomson Impressions.

“The encouraging sales performance of The Poiz Residence is evidence that smallish affordable units continue to remain in favour with buyers’ demand. With the market heading into uncertain waters coupled with the large volumes of impending completions, mixed developments near a transport infrastructure and/or better located projects, have seen better demand due to their higher ‘rentability’. Other projects which do not have such favourable attributes may have to create a niche to level the playing field,” OrangeTee said.