A residential project located in Sembawang received strong response during its launch over the weekend, furthering expectations that the real estate market will withstand the recent set of cooling measures announced by the government.
More projects will be launched over the next two months to compensate for the lull during the Chinese New Year period, said analysts, adding that homebuyers will be offered many choices.
Developers are expected to accelerate the sale to avoid being blindsided by additional cooling measures, they added.
Among the latest properties released after the Lunar New Year was MCC Land’s Canberra Residences, located in Sembawang. Launched over the weekend, the condominium sold 200 (over 60 percent) of its 310 units launched for sale.
Meanwhile, Far East Organization (FEO) sold 37 of the 59 units released for sale at Waterfront Isle on the third day of the Chinese New Year period itself.
Other properties that are expected to launch soon include Far East’s The Cape and SDB Asia’s Okio Residences.