Ness @ Lor 32 Agent briefing. You can imagine the crowd if buyers are packed in as well!
This is probably the best evidence that the latest round of cooling measures is yet not working. The sentiment on the ground is that the private resale market is badly hit as buyers are flocking in droves to the showflats to buy new launches. The reason?
Developers have the ability to lose some of their profits to absorb significant portions of the ABSD that private sellers have no ability to do so. The last few launches of Guillemard Edge, Idyllic Suites, Casa Cambio, just to name a few have 15% + 3% + 3% + 2% discounts on average, which are impossible to match in private resale.
Hence, business is busier than usual with crowds snapping up units in the new launch sector.
The full month results for January and Febuary have yet to come in, from the looks of it, developer sales will likely still be very robust in the coming months, given that the cooling measures seem to have run their course, and buyers are returning to the market in large numbers.
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