01 Oct '13, 8am

New: The “Hong Kong”-ization of Singapore Property

New: The “Hong Kong”-ization of Singapore Property

After slow sales at some projects in early September , market commentators were pondering if the property market was starting to buckle under the weight of the Total Debt Servicing Ratio (TDSR) framework . It appears that this pessimism was premature, with developers racking up good sales at some projects by going back to their favorite playbook – smaller, cheaper units. Sky Vue sells 60% of the project on launch day Artist’s impression of Sky Vue Sky Vue, a 694-unit 99-year leasehold residential project near Bishan MRT, reportedly sold 410 of the 505 units released on its first day, at an average price of $1,500 per square foot – this translates to a sell-through ratio of around 80% of the units launched and 60% of the entire project. Most of the units sold were small one- and two-bedroom units, with the average price of a one-bedroom units around $750,000 while that of a...

Full article: http://www.propwise.sg/the-hong-kong-ization-of-singapore...

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