The best-selling new projects in 2017

By EdgeProp Singapore / EdgeProp | December 1, 2017 5:00 PM SGT
The private residential property market is showing clear signs of a pick-up. In 3Q2017, private home prices rose slightly by 0.7 per cent, following a gradual decline over 15 consecutive quarters. Prices in the Outside Central Region (OCR), Rest of Central Region (RCR) and Core Central Region (CCR) rose by 0.8 per cent, 0.5 per cent and 0.1 per cent, respectively.
When it comes to new sales, condos in the OCR led the way, accounting for 57.4% of new sales in the first 11 months of 2017. This is followed by city-fringe condos at 34.4%, and prime district condos at 8.2%.
District 16 (Bedok, Upper East Coast, Eastwood, Kew Drive) had the highest number of newly launched units in the OCR this year, with 720 units put on sale. District 14 (Geylang, Eunos) had the highest number of newly launched units in RCR, with 243 units. Meanwhile, district 9 had the most newly launched units in the CCR in 2017, with 120 units launched.
New sales in the private residential properties segment in 2017
*Figures are accurate as of 30 November, 2017.
Based on developer sales, we will look at the best-selling new projects in 2017 by comparing the number of units at the development and the number of units that were sold this year.
1) Parc Riviera (OCR)
D5 – West Coast Vale
Developer(s): EL Development (West Coast) Pte. Ltd.
Tenure: 99-year leasehold
Median price: $1,241 psf
Total units: 752
Units sold in 2017: 731 (as of Oct 1)
Image source: parcrivieracondo.sg
When Parc Riviera was first launched for sale in early November last year, EL Development introduced an innovative scheme — “one-tier pricing” — where the psf price is fixed for each unit type, regardless of whether the buyer purchased a unit on the first level or on a higher level up to...