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Emerald of Katong Emerges as 2024's Top Selling Launch Amid New Property Market Dynamics

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EMERALD OF KATONG,REAL ESTATE MARKET,PROPERTY LAUNCH

As we approach December, Emerald of Katong (EOK) stands as the year's best-selling launch, with 99% of its units sold out despite higher prices post-COVID. However, the prices for smaller units raised eyebrows, prompting questions about alternative housing options within similar price ranges in the current market.

As we near December, Emerald of Katong is the best-selling launch of 2024, and perhaps a few years to come. It's been a while since a project as big as EOK sold out 99 per cent of its units at launch, especially given the higher prices after Covid. But even though many felt EOK was competitively priced, the same can't be said for some of the smaller 1/2 bedder units that went for surprisingly high prices.

This is a very urban area surrounded by traffic, and there are almost no green spaces. Coupled with the small unit sizes , it's better suited to young singles, or being purely a rental asset. The Collective is still in developer sales at this point, with one-bedders averaging $2,750 psf. Recent transactions show an average of $1.224 million, with transacted one-bedders mostly being around 431 sq. ft.Pinetree Hill is a leasehold, 520-unit condo that will TOP in 2027. While the Ulu Pandan location is not the most accessible , this is one of the "greenest" new launch locations to date.

This project will appeal to those who work in the Jurong areas, but don't like the noise and pollution, or the glass-and-concrete jungle of places like Orchard. Due to its location, some buyers may look at this project as a rental asset for Malaysian foreign workers. Its one-bedder units are well suited for this, as the quantum is low , and most tenants will appreciate the MRT access.

Norwood Grand sold out very fast , likely due to 12 years of pent-up demand. The one-bedders were among the most competitively priced of 2024, at $2,133 psf on average. This means an average quantum of just $1,055,968, falling within comfortable reach of a "sell one, buy two" approach.Can you get a one-bedder in the CBD area for the same price as EOK? The answer is, surprisingly, yes. Union Square Residences in District 1 is a leasehold project with 366 units.

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Emerald of Katong Leads the 2024 Launch Market, The Collective Offers Alternative OptionsEmerald of Katong (EOK) stands as the top-selling launch of 2024, achieving a 99 percent sale of units. Meanwhile, The Collective provides an alternative option for buyers looking for similar priced properties.
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