With 286 caveats lodged from 7 April to 30 April and 152 units sold in the six top-selling new launch projects between 6 April and 17 May, is there a picking up in demand for real estate?
Homebuyers are turning to virtual viewings during the circuit breaker period & it seems like the Covid-19 situation hasn’t diminished the need of property purchase. Circuit breaker or not, it is not an uncommon scene for property investors to rely on virtual viewings and presentations by their trusted agents.
But the most alarming situation hit Singapore when our Minister for National Development, Lawrence Wong shared that our city must be prepared for higher construction costs. This is due to the rising cost associated with new measures during Covid-19 outbreak that are being imposed on the construction industry.
In other words, it means that our new launch projects will most likely increase in prices within the next couple of months. While we thought that developers might be threatened by the incurring cost of ABSD to rebate with big discounts, they were given an extension of 6 months for ABSD remission. This explains why the new launches pricing are unlikely to drop.
Sustainable pricing coupled with strong buying interest and the name recognition of our lion city, will the property prices go down? There might be some discounts to ease property buyers during Covid-19 outbreak, but generally pricing is going stronger with the picking up demands.
Curious about the latest new launch projects that are offering a good rate discount now? My name is Jen Tan, drop me a private message or give me a call at +65-90662926 & we will send you the details shortly.
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