Huttons’ comments on November developer sales numbers
Developer launched 1,375 units for sale and sold 767 units. The number of units sold is 18.9% higher than October 2020 and 34.2% lower than a year ago. November saw two new launches – The Linq @ Beauty World and The Landmark. Both projects sold extremely well. The Linq @ Beauty World moved 116 units on the first day while The Landmark sold 109 units.
The sales figures for November is an indication that many buyers do not need an extension of their option to purchase. This is a testament of the depth of the market. Hence any impact of the policy change on sales is limited.
The top ten private residential projects for November 2020 are:
Source: URA, Huttons Research
December 2020 is going to see very strong sales of around 900 to 950 units. We revise our forecast for 2020 slightly upwards to 9,600 to 9,700 units on the back of superb results from Clavon and Ki Residences at Brookvale. This is only slightly lower than 2019's 9,912 units.
The market is gearing up for three launches in Jan 2021 - Normanton Park, Parc Central Residences and The Reef at King's Dock.