23 May '14, 10am

Lower prices push sales of private homes. For more of this edition's Week in Review, read #sg #sgnews #sgproperty

Lower prices push sales of private homes. For more of this edition's Week in Review, read #sg #sgnews #sgproperty

As for new launches, The Sorrento, a freehold project priced almost similar to a 99-year-leasehold project, has also experienced strong sales volume, nearly selling out in one month. Last week, City Developments Limited (CDL) reported optimistic expectations for the launch of their Coco Palms. At the launch, CDL offered an early bird price, averaging about S$980 per square foot (psf), compared to the original price of S$1,100 to S$1,200 psf. By 3.00pm on launch day 490 units out of 600 (82%) were taken-up. In a report by CNA, Desmond Sim, head of research at CBRE explained that “there is an underlying demand out there waiting to buy, but they (buyers) are just waiting for developers to make such moves or (give) some sweeteners in order to come into the market and start buying.”

Full article: http://www.iproperty.com.sg/news/8706/Week-in-Review---22...

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