07 Jan '12, 1am

Luxury home market faces oversupply: Thousands of units are unsold and developers may delay new launches

Luxury home market faces oversupply: Thousands of units are unsold and developers may delay new launches

By Esther Teo, Property Reporter The upmarket segment of the housing market faces a tough 12 months as it battles a possible oversupply of new homes and the effects of the recent cooling measures. Thousands of units already launched are still awaiting buyers while developers might be considering delaying further launches until things pick up. The saving grace is that interest rates remain low, and many property firms are cashed up from the bumper market in recent years so they can ride out the slump. Related Links MAJOR PROJECTS READY FOR LAUNCH Background story TWIN PEAKS 462 units for sale 413 units unsold Chesterton Suntec International research head Colin Tan told The Straits Times on Friday: 'If a developer has not launched its project yet, it might be better not to launch because once you do you're locked in. Please enable JavaScript to view the comments powered by D...

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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