Wednesday, January 23, 2013

New launches still attracting crowds but...

Property buyers continue to throng showflats, undeterred by rain or recent cooling measures; but most seem to be looking only
The Straits Times
January 21, 2013

PROPERTY buyers were undeterred by rain or recent cooling measures, as they continued to throng the showflats of newly launched developments around the island.

However, most seemed to be looking instead of queueing up to sign on the dotted line.

EL Development's 810-unit La Fiesta in Sengkang sold another eight units during the weekend, bringing total sales to about 380 units since its launch.

The showflat of this project next to Sengkang Square has been bustling with people since its launch on the night of Jan 11, and the crowds have barely abated.

Qbay Residences in Tampines, which began preview sales last Friday, has already sold 315 units.

The 630-unit project, developed by a consortium of Frasers Centrepoint, Far East Organi-zation and Sekisui House, was the first to be launched after the Government announced a new set of tough property cooling measures on Jan 11. Indeed, the showflat was a hive of activity when The Straits Times paid a visit over the weekend. Some visitors said they had not yet decided whether to buy because they were unsure if prices would fall in the wake of the cooling measures.

Teacher Sherine Tan, 39, said she and her husband were looking for an investment property.

They have lowered their budget to about $700,000 as the new measures mean that they must fork out more cash because they already have an outstanding mortgage.

She said: "We are of course worried that prices might drop after the measures, so we're just shopping around and haven't committed to buying anything yet."

Less recent projects attracted fewer potential buyers. The showflats at Eight Riversuites in Whampoa East, for example, were rather quiet over the weekend.

The 862-unit development was launched in May last year.

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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