Less than twice as many applications as units were seen in the latest DBSS project in Hougang, as applications for units closed yesterday.
The 680-unit Parkland Residences, which features three- to five-room units, had received 956 applications as of yesterday evening.
The response was a little weaker than expected, said Lee Sze Teck, Senior Manager of Research and Consultancy at Dennis Wee Realty.
“This could be because there’s a lot of uncertainty in the housing market. Rather than committing quickly, people seem to be taking a wait-and-see approach,” he said. Potential buyers may still crowd showflats, although they may not apply straight away.
According to experts, some prospective buyers expect the property cooling measures to reduce prices, as the economic slowdown has hurt buying sentiment.
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