Huttons’ comments on December developer sales numbers
Developer launched 1,349 units for sale and sold 1,217 units. Sales in December 2020 was 57.2% higher than November 2020 and 126.2% higher than the same period a year ago. The number of units sold in December was the highest December sales since 2012.
The exceptional performance was down to the outstanding sales notched at Clavon where 473 units were sold. An expected rebound in economic growth in 2021, arrival of vaccines for Covid-19 and the inability to travel because of Covid-19 contributed partly to the sales performance in December as well.
The top ten private residential projects for December 2020 are:
Source: URA, Huttons Research
A total of 23 private residential projects were launched in 2020 – ten projects before the circuit breaker and 13 projects after. Several projects launched after the circuit breaker – Penrose, The Linq at Beauty World, The Landmark, Ki Residences at Brookvale and Clavon achieved very good sales on the opening day of sale. The Linq at Beauty World sold more than 96% of the total units in one day while Clavon is the best-selling project on launch day in 2020, moving more than 460 units.
Top Ten Projects by Sale Volume in 2020
Source: URA Realis (12 Jan 2021), Huttons Research
For the next three weekends, sales booking will start for Normanton Park, Parc Central Residences and The Reef at King’s Docks. The sales momentum in December 2020 will spill over to January 2021 and possibly maintain the sales volume at around 1,000 units. If that happens, it will be the highest January sale volume since 2013.