Developer Sales Monthly Report October 2023

Discover more about Pinetree Hill

SUPPLY

– 54 more units are available for sale
– No major projects were launched during October

 

DEMAND

– In Oct 2023, developers had sold 203 residential units. This is 9.5 percentage lower than previous months.

– The October sales were lower due to the absence of major launches, as well as customers awaiting hot launches for November

– Sales of the RCR in the month of October 2023 amounted to 40.4 percent, while the sales of the OCR comprised 37.4 percent. The CCR was 22.2 percentage.

– North Gaia is the most affordable executive condominium available on the market. It sold 18 additional units in October, at the median price of $1,295 for each square foot

– The penthouse in One Pearl Bank that was sold to a Singaporean at $7.1 million. It was the most expensive unit that was sold in October.

– Foreign buyers increased their purchases in October to 14
OUTLOOK 


– The market for property will end the year on a high note with sales in Hillock Green J’den, and Watten House

– Developers could end 2023 with a range of 6500 and 6,500 units. This is basing their forecasts on the 5,329 units sold during the first nine months of 2023. A further 1,000-1100 units could be sold by the end of 4Q 2023

– Prices will likely rise in the fourth quarter of 2023. It could be higher than 5% over the course of this year.

– The first quarter of 2024 could see eleven more projects totalling 2,692 units could be launched

– The price increase is expected to range from 3 to 5 percent in 2024.

Pinetree Hill is among the top 3 projects in the RCR. This indicates that Pinetree Hill is a sought-after project in the area.

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