Top Condo Sales for 2021? CanningHill Piers Boost New Home Sales

Mohan Sandrasegeran

Mohan Sandrasegeran

Share on facebook
Share on email
Share on whatsapp

Riding the 2021 trend of brisk home sales, a total of 1,547 new private units were sold in November, a 69.8% (m-o-m) increase, as compared to the 911 units (updated figures from URA) in the previous month. 

Source: Ohmyhome Research, URA Developer Sales

On a yearly basis, this was the highest number of units sold for the month of November since 2011, when 1,702 units changed hands. Developers launched a total of 1,283 units in November, with 71.3% of units coming from the 2 new launches CanningHill Piers and The Commodore. 

Source: Ohmyhome Research, URA Developer Sales

The top selling project for the month of November was the newly launched CanningHill Piers, it sold 82.8% of its 696 units at a median price of $2,887 psf. In addition, the highest transacted price in the month was also from CanningHill Piers. The project’s only penthouse was sold for $48 million ($5,360 psf). 

Predominant demand for smaller sized units at CanningHill Piers

Source: Ohmyhome Research, URA Realis

Notably, there was an increase in demand for smaller sized units in the project. The majority of the transactions were concentrated in the size range of 474 to 560 sq ft, which were the 1-bedders with study rooms. This accounted for about 38.0% of the 576 units that were transacted. Next most popular were the 2 bedders, which comprised about 29.0% of all transactions.  

Significant number of CanningHill Piers transactions by foreigners

Source: Ohmyhome Research, URA Realis

Despite a hefty percentage of 80.2% Singaporeans purchasing units at CanningHill Piers, there were at least 43 foreigners and 71 Singapore Permanent Residents purchasing these units as well. The project has an ease of accessibility to the CBD (Central Business District) and the downtown core, which will be attractive to these groups of buyers who could be commuting to work. 

In terms of popularity, CanningHill Piers was the second best selling new launch condominium among foreigners for the 11 months of 2021,with the first being Normanton park, which had 59 units purchased by foreigners. 

Over 70% of units sold for The Commodore and The Watergardens At Canberra 

The second best selling project was The Commodore. It sold 74.9% of its 219 units at a median price of $1,513 psf. The Commodore is the third new development to be launched in the Canberra area this year. The previous other developments were The Watergardens At Canberra (launched August 2021) and Provence Residence-EC (launched May 2021). 

Source: Ohmyhome Research, URA Realis, OneMap 

Both The Commodore and The Watergardens At Canberra sites are next to each other, which were both awarded under the Government Land Sales (GLS) Programme. Buyers are spoilt for choice as average prices of both projects are very similar, and they share equal proximity to the Canberra MRT station (under 500m). 

Not surprisingly, both projects have crossed the 70% mark in sales, but bigger families are more likely to be attracted to The Commodore as it offers more 4 and 5 bedrooms. 

Continued robust demand in the new home sales market

Source: Ohmyhome Research, URA Developer Sales 

It has been a favorable 2021 for the private new home sales market. Resilient demand accelerated the number of new home transactions to a record high. 

The total number of new home sales for the first 11 months of 2021 rose to 12,467 units – a 24.9% (y-o-y) surge compared to the 9,982 units sold in 2020. 

Greater number of months in 2021 with over 1,000 new homes sales 

Source: Ohmyhome Research, URA Developer Sales

In 2021, a greater number of months had private new home sales above the 1,000-unit mark as compared to 2020. With Singapore gradually easing Covid-19 measures, private new home sales has seen pre-covid level performance resuming – as more demand for attractively priced projects continue to garner momentum. 

Surge in new home sale transactions in District 5

Source: Ohmyhome Research, URA Developer Sales

District 5 has the highest number of new home sales transactions so far in 2021. The district enjoyed about 65.2% (y-o-y) increase in sales, growing from 1,389 units transacted in 2020, to 2,295 units sold in 2021. This is due to more new launches entering District 5, especially projects that have a higher quantum of units of more than 500 units. Normanton Park was one of the primary contributing new launch projects for the rise in new home sales in district 5. Other projects include Parc Clematis and Clavon as well.

We can expect sales in December to be moderate – as typically sales are lull due to the school holidays. However, we anticipate the new launches  Perfect Ten, Mori and Zyanya will spur demand for the month. 

Source: Ohmyhome Research, URA Developer sales 

Nevertheless, this will be the highest number of new home transactions since the previous high in 2013, when 14,948 units were transacted. As we look forward to 2022, we can expect the robust demand to continue, with a dwindling inventory of unsold units and a progressive pick up in en bloc sales.  

Looking for an HDB or private property?

Here’s how you can speed up your home search

Let Ohmyhome’s smart data-matching technology MATCH you with the right home, according to your specific needs. Submit your preferences to us and our algorithm will filter all our available listings based on those, and we’ll WhatsApp them to you once we find a match. We’ll also send you relevant content that you can use for your research and inform your home buying decision, so you no longer have to spend hours searching online for the information that you need.

You can also call us at 6886 9009 to secure an appointment with any of our Super Agents or message us in the chatbox at the bottom, right-hand corner of the screen. You can also WhatsApp us at 9727 5270!

Cover image: CapitaLand

Consult an expert for free!

Send us your details and we’ll be in touch within 15 min (daily 9am to 9pm GMT +8).

or

Contact us your way

Talk to us today. Available daily 9 AM to 9 PM (GMT +8)

Subscribe Now

Get a notification every time we upload a new blog post.

SHARE WITH YOUR FRIENDS!

Share on facebook
Share on twitter
Share on whatsapp
Share on email

Consult an expert for free!

Send us your details and we’ll be in touch within 15 min (daily 9am to 9pm GMT +8).

or

Featured Blogs

Highlighting unique property views for every Singaporean

get an agent

Sell with an Agent

Dedicated experts at your service

Documentation Services

Leave the paperwork to us

do it yourself

Prefer to do-it-yourself?

Check out how our platform can help

Post a Listing for Free

Download the app and connect with buyers

RESOURCES

Ohmyhome E-Valuation

Know the value of your property in seconds!

Calculate Seller’s Stamp Duty

Find the amount payable when selling

How to Sell an HDB

A step-by-step guide to selling HDB

How to Sell my Private Property

A step-by-step guide to selling condo/landed

OHMYHOME E-VALUATION