Leveraging on the buying momentum in recent launches, developers have succeeded in offloading a bunch of unsold units by trimming prices.
Brief take up of unsold units
The Panorama moved 60 units of the 80 units released between Oct and November last year. The recent discount rate relative to launched prices is about 6% to 7%.
The Panorama by Wheelock Properties is a 99 yr leasehold project in Ang Mo Kio Ave 2. It sells close to 30 units a month on average. The average sales price for the Panorama is about $1,229 psf.
Sky Vue in Bishan by CapitaLand sold 80 units of 182 units released last November.
CapitaLand has dangled carrots of up to $150,000 discount for the rest of the units at Sky Vue across all unit types. The recent discount rate at Sky Vue is approximately 6%.
‘The Sky Collection’, Sky Vue’s premium units from 28th floor up is lauded as homes with a panoramic view.
Sky Vue is a 99 yr leasehold project along Bishan St. 15. Prices start from $821,000, $1.1 million and $1.6 million for a 1 / 2 and 3 bedroom respectively. The number of unsold units is down to about 100.
The 694 unit Sky Vue development was first launched in September 2013. It sold 433 units during its first month at a median price of $1,401 psf.
According to The Edge, top sellers among existing launches were Sims Urban Oasis on Sims Drive and Lakeville in the Jurong Lake District, which recorded 94 and 38 caveats respectively in 4Q 2015.
Launched in April 2014, Lakeville is close to Lakeside MRT station, Jurong Lake and the Canadian International School. The 38 caveats lodged averaged $1,260 psf.
At Sims Urban Oasis, a city-fringe project close to Aljunied MRT station, the 94 caveats averaged $1,337 psf.