Monday, January 21, 2013

Downpour blamed for fall in condo sales

Jan 21, 2013 -

A notable drop in sales of condominium units at Q Bay Residences was seen at its launch over the weekend.

Some 105 units were sold over two days compared to more than 210 at Friday’s preview. This brought total sales at the 99-year leasehold 630-unit development in Tampines to around 315 units by 8pm on Sunday, or about 50 percent sold.

Apparently, bad weather contributed to the dip in sales. A source told PropertyGuru: “The rain was a factor earlier and more sales are still coming in.”

Jointly developed by Frasers Centrepoint, Far East Organization and Sekisui House, Q Bay Residences is the first private condo to spring up in the area in the last two years.

The developer had earlier said that interest in the project was robust, with the majority of purchasers being first-time homeowners. Quality, location and pricing were highlighted as its key attractions among buyers.

Incidentally, Q Bay Residences is the first development to be launched just a week after the government introduced more cooling measures to regulate the market.

Prices start at S$525,000 for a one-bedroom unit, inclusive of discounts.

Martin Koh | 86666 944 | R020968Z
Sherry Tang | 9844 4400 | R020241C
Senior Sales Director
DTZ Debenham Tie Leung (SEA) Pte Ltd (L3006301G)

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