Singapore’s housing market has shown signs of life recently, as both developers and buyers drive a pick-up in activity.
BUYERS HAVE SOAKED UP WELL-POSITIONED PROJECTS
In March, Sim Lian Holdings surprised the market with strong sales of its executive condominium project Wandervale, moving almost 300 units out of a total of 534 units within the first month of launch.
Based on feedback from the ground, Sim Lian is again poised to do well for its pending launch of another EC, the Treasure Crest. Some might attribute its better-than-expected performance to the projects being ECs that are fairly priced and cater to local demand.
However, over the last weekend, GEM Residences, a private condominium project, managed to sell about 50 per cent of its units despite its relatively high price and not too exciting location. These rather strong sales performances are being achieved despite known market weaknesses.