Channelnewsasia.com | Posted: 23 March 2013 2038 hrs
SINGAPORE: Recent condominium launches have yielded positive response, with an analyst attributing the strong demand to fears among some buyers of another round of property cooling measures.
There were six condominium launches this month.
At Hillion Residences, located at Bukit Panjang, more than 50% of the 250 units released in its first phase have been sold.
Its developer said that 70 percent of buyers are investors.
MediaCorp understands that Bartley Ridge at Mount Vernon, launched this weekend, has sold more than 200 of its 300 units.
Other projects in Pasir Ris, Tanah Merah, Potong Pasir and Clementi are also seeing positive response.
The last round of property cooling measures introduced in January includes a higher buyer's stamp duty, tighter loan-to-value limits and higher minimum cash downpayment for second and subsequent housing loans.
It was the seventh round of property-cooling measures introduced since 2009.
Steven Tan, managing director of OrangeTee, said: "Generally the current buying sentiment is still very strong, mainly due to the reason that economic fundamentals are still very bullish. For example, the GDP, the stock market, the job environment.
"With more and more new launches coming up in the next few months, I do expect that the sales volume of the residential property market will continue to pick up."
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