Some showflats remained open over the Chinese New Year break, although consultants did not expect sales to be as good as in previous years, media reports said.
“Last two Chinese New Years, developers did relatively well as there were significant sales clocked,” noted Ku Swee Yong, Chief Executive Officer, Century21.
“This year, to begin with, sentiments are much weaker after the total debt servicing ratio restricted how much buyers could borrow to buy a home.”
Moreover, “there are also no significant launches in this period to prop up demand”.
In fact, fewer foreign buyers made appointments with agents to view properties over the holidays.
Showflats that were open last weekend included Far East Organization’s The Siena in River Valley, Silversea in Marine Parade and Alana in Yio Chu Kang.
Hillview Peak’s showflat also stayed open during the holiday, revealed PropNex and ERA Realty.
Offered on a 99-year lease, the 512-unit project is being developed by Kingsford Development.
Meanwhile, most developers are expected to open their showflats today.
Among them is The Panorama in Ang Mo Kio.
Developed by Wheelock Properties, the 698-unit condominium is the latest residential project to enter the market. It is also the firm’s first 99-year suburban development here in almost two decades.
UOL’s Riverbank @ Fernvale (pictured) will be the first condo to launch after the Chinese New Year.
Located in Sengkang, it is set to open for viewing this weekend while sales will start in the next two weeks.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories email romesh@propertyguru.com.sg
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