Given the enthusiastic response of buyers to J'den and Hillock Green, PropNex believes the two developments will help "breathe life" into the primary market, which has seen relatively lacklustre new home sales, excluding executive condominiums (ECs).
Whilst Hillock Green had lower sales than J'den, PropNex believes the take-up rate for the former is "encouraging, given the sizable number of new homes that have already been sold at Lentor Modern and Lentor Hills Residences in the past year, as well as the upcoming new launches in the Lentor area." "Unlike J’den, Hillock Green faces more competition due to the ample stock of new homes in the area and the element of pent-up demand is also less intense since there were recent launches there. However, we think a take-up rate of more than 27% is a positive start and we believe some buyers may need more time to compare between new launches in the mass market before making a purchase," PropNex sai