21 Mar '16, 7am

Developers confident of selling without resorting to massive price cuts

DESPITE much industry lobbying for an extension of deadlines for developers to meet the conditions for additional buyer's stamp duty (ABSD) remission on residential sites, it appears that many developers are sanguine about the looming deadlines. While tight-lipped about their marketing strategies, developers whom BT spoke to are confident that their projects will sell out before the respective ABSD deadlines - without having to resort to massive price cuts. Singapore Land (SingLand) general manager Michael Ng told The Business Times that the group does not intend to have any units left by the deadlines to meet ABSD remission conditions. "We don't have the intention to lower prices also," he said. The group's upscale boutique projects Mon Jervois and Pollen & Bleu in district 10 , as well as Alex Residences in Redhill will be liable for the ABSD of 10 per cent with interest...

Full article: http://www.srx.com.sg/singapore-property-news/16752/devel...

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