Some are giving big discounts, while others are going on marketing blitzes -- property developers are pulling out all the stops to boost sales which have been hit by cooling measures. Statistics from the Urban Redevelopment Authority (URA) on Friday showed a 1.3 per cent decline in prices in the first quarter of this year. It is the largest drop since the second quarter of 2009, when prices fell by 4.7...
developer sales
The private residential market is showing signs that the recent measures implemented are having some effect. Developers of a recently-launched project - The Santorini, located in Tampines - said while there were many visitors at the showroom, few actually signed on the dotted line. The project was launched on Saturday, and some 40 percent of its units have been sold. Developers said as it now...
Analysts said developers could start looking at building more smaller units because buyers have become more price-sensitive, pushing up demand for smaller homes. Caveats lodged with the Urban Redevelopment Authority showed that the number of new units under 800 square feet accounted for about 48 per cent of total sales in 2013. Over a month into its launch, some 40 per cent of units at UOL's 555-unit...
Sales of new private homes may remain in the doldrums, but bargain hunters hoping that developers will slash prices to breathe life into the market are likely to be disappointed, analysts told TODAY. Despite the slow market, several recent launches have sold well, showing that underlying demand can be realised into sales with the right marketing and pricing strategy. So, as long as holding costs remain...
With the government confirming that it is too early to start relaxing property cooling measures, analysts said this will lend more clarity and certainty to both developers and home buyers. One developer has decided to go ahead with plans to launch a new project at the end of March. The Santorini showflat is being built in preparation for its launch later this month. The development comprises 597...
Property developer Tuan Sing Holdings said it is seeing encouraging take-up from buyers for its Cluny Park Residence project. The high-end condominium was launched on Thursday. Located in the Bukit Timah district, the freehold development spreads across close to 49,000 square feet. Cluny Park Residence has 52 units and each unit has been priced from about S$2.3 million. So far, about 20 units...
Property agencies say some developers are offering a higher commission to help boost sales at their projects. This comes amid slowing demand as government property-cooling measures and tighter home loan regulations take effect. Agents say the commission could be as high as 3.5 to 4 percent for hard-to-sell units, and that's the highest commission rate in five years. As a result, some agents are...
Frasers Centrepoint has sold 220 of the 300 units for its latest project, RiverTrees Residences, in Sengkang’s Fernvale district, which were released for sale last weekend, said the developer yesterday. Mr Cheang Kok Kheong, Frasers Centrepoint Chief Executive for Development and Property in Singapore, said: “This validates our belief that there is still depth in the market and that there is robust...
Two new condo developments in a Sengkang area are launching at around the same time, raising the possibility of a price war. This comes on the back of a fall in suburban private home prices. Prices of suburban condo units dropped 1 per cent in the last quarter of 2013. That is the first dip in about four years, or since the second quarter of 2009. Some analysts said the drop has made property...
Riverbank @ Fernvale is one of two private residential developments in Sengkang that will be launched for sale this month. Its developer, UOL, said units will be priced at an average of "slightly above S$1,000 per square foot". The 99-year leasehold project comprises 555 apartments -- 488 of them are one-, two- and three-bedroom units. The selling price of a one-bedroom unit will start from...