Some of the incentives offered include significant discounts on the prices of completed units.
More condo developers are offering incentives, such as deferred payment schemes to lure home buyers, following its success in moving units last year, reported The Straits Times.
Among the latest projects to offer such marketing schemes include TG Development’s The Peak@Cairnhill II, Wheelock Properties’ Ardmore Three and CapitaLand’s Sky Habitat.
Also offering incentives are two projects marketed by ERA Realty Network. One Balmoral is offering a 13 percent discount on prices of all units, while Corals at Keppel Bay is dangling a $50,000 discount on prices of selected units.
Last year, OUE’s creative marketing schemes, which included deferred payments for its Twin Peaks project, received good response, prompting other developers to follow suit. In fact, CapitaLand’s own version of the scheme, called the stay-then-pay programme at The Interlace and d’Leedon, was also “well-received”.
But while more completed projects are likely to offer innovative sales schemes, analysts do not expect this to affect demand for newly launched condos.
This is because completed projects account for “a very small percentage of the primary sales market”, explained Eugene Lim, Key Executive Officer at ERA Realty.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
