Sunday, April 8, 2012

Big launch of properties in uncharted territory

Business Times: Fri, Apr 06
THE race is on as developers try and ride the wave of robust demand for primary sales by churning out projects as quickly as possible. Ku Swee Yong, chief executive of International Property Adviser (IPA) said: 'Developers know this trend cannot be sustained, especially when you have HDB launching (so many units).'

Some of the projects released in March alone include the 193-unit Natura at Hillview Terrace, 679-unit Ripple Bay condo, 276-unit Seletar Park Residence, and 429-unit Palm Isles condo at Flora Drive.

The large number of new homes on the market this year can be attributed in part to the government's effort to push out more land for residential development, say market watchers.

In 2011, enough state land was put on sale to build 17,510 homes, up from the record 13,945 homes in 2010, according to government estimates. The number could be higher still given the recent trend for more smaller flats to be built...

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