In March 2024, Singapore’s property market saw a remarkable resurgence, with developers selling 718 new private homes (excluding executive condos), representing a 370% increase from February and a 46% year-on-year increase. This surge was primarily driven by the successful launch of Lentor Mansion, which accounted for over half of the month’s sales. The project sold 409 (77%) of its 533 units at a median price of $2,269 psf, highlighting its appeal. The Outside Central Region (OCR) led the sales, contributing 84% or 605 units to the total, spurred by the launches of Lentoria and Lentor Mansion among others. The Core Central Region (CCR) also saw an uptick in sales, with notable transactions at Watten House and 19 Nassim. The Rest of Central Region (RCR) recorded a slight increase in sales, supported by projects like Grand Dunman and The Continuum. Executive condo sales also experienced growth, with Lumina Grand EC leading. Overall, the first quarter of 2024 closed with 1,175 new units sold, marking a 7.6% increase from the previous quarter but slightly lower than the same period in 2023.
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