Singapore’s top 10 best-selling residential projects in July 

Pasir Ris 8 topped the list with 85% of its total inventory sold.

While the market was reeling from the tightening of restrictions from April to June this year, Ismail Gafoor, CEO of PropNex Realty, says the month of July exceeded expectations with an impressive sales figure of more than 1,500 new units being sold. The new home sales performance in July 2021 was boosted by the buzzing OCR sub-market which saw over 1,000 units being transacted.  

“We believe that the catalyst to the exuberance was the recent GLS tender activity where Ang Mo Kio Avenue 1 and Lentor Central received top bids of $1,118 psf ppr and $1,204 psf ppr respectively from developers. The news of aggressive land prices triggered many to realize that future launch prices are likely to rise further. A good number of investors and buyers, whom have been waiting for the right opportunity, decided to enter the market in July, in anticipation of possible price hikes in the future,” Gafoor adds.

Here’s more from PropNex:

Pasir Ris 8 was the best-seller last month, selling more than 85% of its total inventory, with an attractive median price of $1,624 psf. The favourable response to the Pasir Ris 8 launch and news of multiple price revisions up to $2,000 psf created a spill-over effect to other projects in the OCR. In July, a number of OCR projects managed to move more units compared to previous months in the year.

Mega project Normanton Park in the RCR which was launched in January this year was the second best-selling last month with an attractive median price of $1,825psf, while other OCR projects Midwood and SengKang Grand Residences continued to sell units steadily, with a median price of $1,656 psf and $1,714 psf respectively. It was observed that 7 out of the top 10 best-selling projects in July were located in the OCR, we expect this sub-market to continue to do well this year, with more new launches to come.

New home sales are expected to moderate in August to the tune of 1,000 units due to the Hungry Ghost month and dwindling stock in the OCR, as a result of the lean line-up of new launches in the suburbs, which will put a cap on sales volume. Upcoming launches in the later part of August include: Watergardens at Canberra in the OCR. Given the strong turnout at the Pasir Ris 8 launch, the new projects in the OCR should attract strong interest from owner-occupiers, including HDB upgraders.

For the whole of 2021, we project that new private home sales (ex. ECs) could exceed 12,000 units, barring any unforeseen events and new cooling measures.”

Top 10 Best-Selling Projects (Ex. ECs) in July 2021