Which property type led demand for both new and old stock?

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Landed Homes and Apartments Showed Strong Demand Across Both New and Old Stock Categories

Landed homes and apartments were the most sought-after property types in the latter half of 2023, demonstrating significant demand for both newly launched units and existing inventory. Between July and December 2023, over 1,600 newly launched double- to triple-storey terrace houses were sold, alongside 1,545 units of old stock of the same type. In the apartment segment, 1,655 new units were sold, while a substantial 2,200 units of old stock were purchased during the same period.
Sales Figures for Double- to Triple-Storey Terrace Houses

During the July to December 2023 period, the market saw robust sales for landed properties, specifically double- to triple-storey terrace houses. More than 1,600 of these newly launched homes found buyers. Concurrently, the resale market for existing units of the same type also performed well, with 1,545 units of old stock being sold.
Apartment Sales Performance

The apartment sector also registered considerable activity in the second half of 2023. While 1,655 newly launched apartment units were sold, the demand for existing inventory was even stronger, with over 2,200 units of old stock being purchased. This indicates a healthy appetite for apartment living across both new developments and previously occupied residences.
New Launches vs. Old Stock Sales

Across both landed homes and apartments, the figures reveal a significant absorption of both new and old stock. For terrace houses, the sales of new launches slightly outpaced old stock, whereas for apartments, the sales of old stock exceeded new launches. This suggests a broad market interest that encompasses both freshly developed properties and established residences.
Overall Market Activity

The overall property market recorded sales of 12,017 residential units between July and December 2023. Of these, 4,627 units, representing 39 per cent, were new launches. This data highlights that while new developments are being purchased, a substantial portion of the market activity involved the sale of existing, or old stock, properties across various segments.

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Which property type led demand for both new and old stock?

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