A rising tide, but will it lift all boats?

This week in Property

• Buyers sweep up almost 1,500 new homes at latest weekend launches
• The F&B sector’s woes will test the resilience of prime suburban malls  
• Expert views on Singapore real estate landscape   
• Deals done and corporate developments 

A confidence-boosting spurt?

The big push to get six new residential projects out the door this month brought about a burst of buying, at a volume not seen in years. The latest three condos to be launched this past weekend chalked up sales of almost 1,500 units in total, Goh Ruoxue and I report. The spurt will lift new sales in November to an 11-year high for monthly sales. These added to the momentum from earlier this month when Chuan Park started the ball rolling as it sold 76 per cent of its 916 units.   

Each of the latest three projects launched had their own distinct pull factors. Emerald of Katong, a much anticipated new project in the ever-popular East Coast with a District 15 address, cleared 99 per cent of its 846 units at an average of close to S$2,620 per square foot (psf).