The showflats in Singapore was scheduled to be launched on Friday. However, on Monday, most property agents had already lined up for flats at Tanah Merah’s Optima condominium. They all went home when the developer TID denied to recognize the queue.
This had not discouraged interested buyers from turning up early Thursday, which led to an enormous queue. Consequently, at around 8 pm, TID decided to open the doors of showflats, commencing an early open balloting.
The process started after 11 pm on Thursday and continued until the wee hours in the morning. Acknowledged buyers paid right then and there the 5 percent deposit.
According to some property agents and home buyers, they are seeking for a better investment. The demand at Tanah Merah condo was largely attributed to its proximity to the MRT station, Changi Business Park, the upcoming commencement of the fourth university, as well as its affordability (S$790 psf).
Overall, a total of 120 condos were allocated on Thursday, and another 100 units will be released on Friday.
The huge crowd was a factor, and so with the feedback coming from property agents, claiming their home buyers were very much interested, carrying with them their cheques, said spokesman for Hong Leong Mr. Gerry de Silva.