In a challenging property market, developers are rolling with the times and coming up with innovative and creative ways to unload units. From sure win games to overseas road shows to organizing trips to Singapore to tempt foreign buyers.
Kingsford Development organized a weekend ‘250K Property Tycoon Challenge’ for buyers of Kingsford Hillview Peak.
The top prize for Singapore’s Mandarin version of ‘Who Wants to be a Millionaire’, is a cool $250,000 cash rebate. Each player in the game is given $5,000 in cash rebates as a initial token, increasing with each correct answer.
In a separate contest, electric scooter and 2 hover boards were also given out as prizes.
The event held at the show flat also incorporates flower arrangement and baking workshops.
Innovative Strategies On The Go
Tying up with up with travel agencies in a programme to engage Chinese buyers to visit Singapore, Guangzhou-based Country Garden is placing its hopes to sell Forest City, a mega project sited on man-made islands near the Tuas Second Link to the mainland Chinese.
A three-day trip mainly for shopping and sightseeing for the Chinese tourists include an outing to Johor Bahru.
The developer is offering discounts of up to 20 percent for takers who buy early, and pay in cash. “Promotions vary by property type, payment formality and time period,” said Forest City spokesman.
Developers like City Development are taking their new projects to affluent property buyers in neighbouring emerging economies.
City Developments Limited (CDL) launched Gramercy Park in Jakarta over last weekend, followed by Surabaya the next. One tower with 87 units is on offer for about $2,800 psf.
The 174-unit project will be launched in Singapore soon. Plans are afoot to hold similar events in mainland China and Hong Kong, CDL said.
CDL's move comes after CapitaLand’s successful launch of Cairnhill Nine in Jakarta in late February, followed by the March launch in Singapore. 193 of its 268 units has been taken, with foreign buyers, mostly Indonesians, making up 50 percent of the sales, CapitaLand said.