Developers' new home sales climbed 54.6% in November

95% of newly launched private homes sold.

According to PropNex, developers sold 1,228 (excluding ECs) new residences in November, close to 95% of total new private properties launched, (1,293 units excl ECs) in the month. In comparison M-O-M, there is a 54.6% increase (incl ECs) 21.7% increase (excl ECs) in the total new launches sold.

“November is another exceptional month whereby developers strategically launched their new homes in time of the festive seasons. Core of Central Region (CCR) marked the highest sale this year at 662 units largely due to DUO Residences that were priced near the baseline of its region and as such, were highly attractive to buyers.

Regardless of the regions of these launches, sales of new homes had remained strong, mainly contributed by the rightfully prices projects of the other top-selling projects of Alex Residences and The Creek @Bukit. It was these attractive prices that set the tone for the sale of new launches in November and it gives the strongest signal for developers to pricing sensitively their new launches to attain high take-ups,” commented Mr Mohamed Ismail, CEO of PropNex Realty.