DEVELOPERS sold a total of 203 new homes excluding executive condominiums (ECs) in December 2024, as sales receded from an extraordinary surge in the month before, but are 50 per cent higher than the 135 units sold in the year-earlier period, data released by the Urban Redevelopment Authority (URA) showed on Wednesday (Jan 15).
Amid the seasonal year-end lull in December, buying activity spilled over from a swell in the number of units launched in November, which saw six new condominium projects hit the market.
Month on month, new home sales fell 92 per cent from 2,560 units in November, which saw the highest number of units sold monthly since March 2013.
December’s sales, which are the highest for the month since 2021, take the tally for 2024 to 6,560 units, up 2.2 per cent from the 6,421 units sold the year before. With over 10,000 units now expected to be launched in this year, analysts are forecasting new home sales could hit between 7,000 and 9,000 units for 2025.
Meanwhile, only 20 private residential units were launched last December, down from the 2,871 units launched in November.
Year on year, the number of units launched in December was slightly fewer than the 36 units made available for sale in December 2023. For the full year, an estimated 6,647 units were launched, 12 per cent lower than the 7,551 units launched for sale in 2023.
Of the 203 units sold in December, 55 per cent of the units were from the Outside Central Region. Thirty-six per cent of the units sold, or 73 units, came from the Rest of Central Region and the remaining 9 per cent of the units came from the Core Central Region.
Including ECs, there were 373 units sold in December 2024, more than double the 152 units sold in the year-earlier period. The number of units sold last month was down 87 per cent from 2,894 units in November.
