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SUPPLY 

 – 54 condo units have been launched for sale 

– There were no major projects in October
  

DEMAND
– In Oct 2023, developers sold 203 private residential units. This is 9.5% lower than the previous month.
– Oct sales were slow due to the absence of major launches, and customers awaiting hot launches for November
– In Oct 2023, the sales of the RCR were 40.4% while those in the OCR were 37.4 percent. The CCR was 22.2 percent.
– North Gaia has the lowest price executive condominiums that are available. It sold 18 additional units in October for a median of $1,295 per square foot.
– The penthouse in One Pearl Bank sold to the Singaporean at $7.1 million was the most expensive unit sold in the month of October.
– Foreigners increased their purchases in October by 14 when compared to September

 OUTLOOK
– The property market is expected to close out this year with a strong selling performance in Hillock Green J’den and Watten House
– Developers are likely to finish 2023 with between 6,000 to 6,500 units, taking into account the 5,329 units sold during the first nine months of 2023. In the fourth quarter of 2023, another 1,000-1100 units could be sold.
– The prices are expected to rise in the fourth quarter of 2023. It could reach 5% or more over the course of 2023
– In the first quarter of 2024, eleven more projects totalling 2,692 units could be announced. 
– The price rise is expected to range from 3 to 5 percent in 2024.

The LakeGarden Residences is among the top 5 OCR projects. This project consistently display strong sales performance every month. Buyers are confident about The LakeGarden Residences due to the various growth and developement in the pipeline, as according to URA Master Plan 2019 – Jurong West and URA Master Plan 2019 – Jurong East.