News: City Developments, MCL Land and Oxley and Partners post high 2019 sales

Jan 10, 2020

Oxley and Partners have cleared 50% of units across 11 projects. Photo: 1953 by Oxley

According to a table by a DBS Bank, the top 10 developers by units have sold 13% to 50% of their total units as of Nov 2019, reported Singapore Business Review citing a DBS Bank report.

City Developments had the largest percentage of units sold at 53%, with MCL Land (52%) and Oxley and Partners (50%) on its heels. These companies comprise the top three developers in terms of built units.

DBS-Sell-Through-Rate-2019

DBS chart showing the top 10 developers with the highest sell-through rate as of Nov 2019. Image: DBS

Allgreen and Guocoland, meanwhile, recorded low sell-through rates as of Q3 2019.

Developers are becoming more cautious towards land-banking and are now more focused on clearing their inventories.

“With the 5-year Additional Buyer Stamp Duty (ABSD) deadline to come from 2021 onwards, we anticipate a faster momentum for selective projects,” said the report.

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Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email [email protected]

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