31 Jul '18, 12am

Property curbs prompting developers, especially smaller players, to rethink strategy: Experts

SINGAPORE: The halting of an en bloc purchase by Tee Land reflects the turn in sentiment among property developers in Singapore who have begun redoing their sums on the back of the latest cooling measures , industry observers told Channel NewsAsia. This cautious approach is especially the case for smaller players that may not have the same financial muscle as their bigger rivals, they added. Advertisement However, while the U-turn may be a “rational” move for Tee Land, experts do not expect more of such instances as developers will likely opt to be increasingly selective in future land acquisitions instead. Last Thursday, Singapore-listed Tee Land said it has decided not to exercise its option to purchase Teck Guan Ville via a collective sale that would have been worth S$60 million. For this, it will forfeit its 1 per cent deposit. The boutique developer in an SGX filing a...

Full article: https://www.channelnewsasia.com/news/singapore/property-c...

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