{"id":115014,"date":"2020-03-20T09:03:09","date_gmt":"2020-03-20T02:03:09","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/visitors-flocked-to-olas-preview-to-take-advantage-of-economic-slowdown\/"},"modified":"2020-03-20T09:10:56","modified_gmt":"2020-03-20T02:10:56","slug":"visitors-flocked-to-olas-preview-to-take-advantage-of-economic-slowdown","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/visitors-flocked-to-olas-preview-to-take-advantage-of-economic-slowdown\/","title":{"rendered":"Visitors flocked to OLA\u2019s preview to take advantage of economic slowdown"},"content":{"rendered":"


\n\u201cIf the market is very good, the property prices will go up. It makes sense for me to jump at this chance,\u201d said one visitor.\u00a0
\nDespite the coronavirus pandemic, throngs of people still visited the showroom of OLA executive condominium (EC) during its opening preview on 19 March, eager to \u201ctake advantage\u201d of the economic slowdown, reported Today.
\nThe preview of the 548-unit EC project in Anchorvale Crescent, which will happen from 19 \u2013 20 March, saw an estimated 1,000 visits. Evia Real Estate\u2019s public relations team estimate the same number of visitors to be at the preview on Friday (20 March) as well.\u00a0
\n\u201cThe developers are afraid of pricing their properties high during this time because no one will buy. So if I don\u2019t buy during the downtime, when is a better time?\u201d said Lawrence Lee, a property agent who went for the viewing with his family.
\n\u201cIf the market is very good, the property prices will go up. It makes sense for me to jump at this chance.\u201d
\nVincent Ong, Managing Partner of Evia Real Estate, believes that developers will be \u201cin big trouble\u201d if they will not be \u201cflexible\u201d or \u201csensitive\u201d during this time.
\n\u201cThe thing about the economic uncertainty is that people are worried about jobs and how this whole thing will play out. So our response to this is that we continue to maintain maximum flexibility. We will show compassion for people in this time,\u201d he said.
\n\u201cThat is why this EC is priced very affordably. More than half or nearly half of the units are priced equal to or lower than existing EC units,\u201d he added.
\nA public-private housing hybrid, ECs are built by private developers, featuring amenities found within private condominiums like swimming pools.
\nAnchorvale, the developer of the project announced that around 15% of the units at OLA will be priced below $1 million.
\nPrices for three-bedroom and \u201cthree-bedroom plus one\u201d premium units begin from $999 per sq ft (psf). These units range from 926 sq ft to 1,055 sq ft.
\nThe 1,389 sq ft four-bedders, on the other hand, are offered from $976 psf.
\nOng noted that these prices were already reduced by 2% to keep buyers\u2019 interest.
\nJeremy Foo, a public relations director who visited the showroom, said \u201cit is just the right time\u201d for his family to move to a bigger house.
\n\u201cI don\u2019t think the economic situation right now will stop people from getting an upgrade (in housing) if the circumstances of their lives permit. With the economy going down, it might be better for people like us \u2014 young couples who are looking for an upgrade but with a good value,\u201d added Foo.
\nDespite knowing that there would be a crowd, Elamaran Thiyagarajan, who works in a bank\u2019s risk management department, still attended the viewing since the development would be one of this year\u2019s few ECs.
\n\u201cEC projects don\u2019t come around so often. And the pricing, for us, it just meets our budget. Anything above this, I won\u2019t invest in a private property, so it\u2019s just what we\u2019re looking for.\u201d
\nSet to be completed by 2023, OLA\u2019s show gallery opened to the public on 15 February, with the development accepting e-applications from 15 February to 1 March.
\nThereafter, e-applicants and walk-ins are welcomed to view the units on 19 and 20 March. Bookings for the units will commence this Saturday (21 March).
\nThe showflat is located along Anchorvale Crescent, opposite Sengkang General Hospital.\u00a0
\nLooking to buy an executive condo in Singapore? Visit\u00a0PropertyGuru\u2019s\u00a0Listings to find ECs for sale. Alternatively, checkout our\u00a0Project Reviews\u00a0and\u00a0Guides\u00a0for comprehensive articles to help you with your property-buying\/selling journey.\u00a0
\n\u00a0
\nVictor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0victorkang@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Visitors flocked to OLA\u2019s preview to take advantage of economic slowdown<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u201cIf the market is very good, the property prices will go up. It makes sense...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-115014","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-tV4","jetpack-related-posts":[{"id":120015,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-reef-at-kings-dock-to-open-for-preview-this-saturday\/","url_meta":{"origin":115014,"position":0},"title":"The Reef at King\u2019s Dock to open for preview this Saturday","date":"January 15, 2021","format":false,"excerpt":"\r The Reef at King\u2019s Dock to open for preview this SaturdayThis new luxury waterfront project by Mapletree Investments and Keppel Land is situated within the Greater Southern Waterfront. Bookings will start from 30 January. Image: The Reef at King\u2019s Dock Mapletree Investments and Keppel Land are set to open\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/01\/the-reef.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":114267,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-m-condo-to-preview-this-saturday\/","url_meta":{"origin":115014,"position":1},"title":"The M condo to preview this Saturday","date":"February 14, 2020","format":false,"excerpt":"\r Indicative prices for studio units start from just below $1 million, from $1 million for one-bedders, $1.1 million for one-bedroom plus study, $1.3 million for two-bedders, $1.6 million for the two-bedders plus study, and from $2 million for the three-bedroom dual-key apartments.\u00a0 Two-bedroom units are priced from $1.3 million,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":89010,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/margaret-ville-showflat-opens-to-large-crowds\/","url_meta":{"origin":115014,"position":2},"title":"Margaret Ville showflat opens to large crowds","date":"May 22, 2018","format":false,"excerpt":"\r Artist\u2019s impression of Margaret Ville, a new 99-year leasehold project in Margaret Drive. (Photo: MCL Land) Margaret Ville, a new 99-year leasehold condominium by MCL Land in District 3, drew about 2,000 visitors over the weekend after its showflat along Margaret Drive opened for preview on Saturday (19 May).\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":110411,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/over-4500-flocked-to-avenue-south-residence-preview\/","url_meta":{"origin":115014,"position":3},"title":"Over 4,500 Flocked To Avenue South Residence Preview","date":"September 2, 2019","format":false,"excerpt":"\r The first 300 units are being offered by the developers from $858,000 for the one-bedders to $1.15 million for the two-bedders. In fact, half of the units at Avenue South Residence will be offered at below $1.5 million. Image by UOL Group. Avenue South Residence attracted over 4,500 visitors\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":125720,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-hdb-resale-prices-up-in-q1-2022-north-gaia-to-open-for-preview-e-applications-on-thursday-and-more\/","url_meta":{"origin":115014,"position":4},"title":"Private home, HDB resale prices up in Q1 2022, North Gaia to open for preview, e-applications on Thursday and more","date":"April 4, 2022","format":false,"excerpt":"\r 29th\u00a0March\u00a0to 4th April 2022 Private home prices and HDB resale prices continued on an upward trend, increasing 0.4% and 2.3%, respectively, in the first quarter of 2021. Meanwhile, North Gaia, Sing Holdings\u2019 executive condominium (EC) project\u00a0in Yishun\u00a0is set to open for preview and e-applications on Thursday, 7 April. \u00a0\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2022\/04\/singapore-old-airport-road.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":88829,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/strong-interest-in-the-garden-residences-condo\/","url_meta":{"origin":115014,"position":5},"title":"Strong interest in The Garden Residences condo","date":"May 21, 2018","format":false,"excerpt":"\r The Garden Residences showflat drew more than 3,000 visitors for its preview over the weekend. (Photo: Keppel Land and Wing Tai Asia) The Garden Residences by Keppel Land and Wing Tai Asia attracted more than 3,000 visitors over the weekend after its showflat at Serangoon North Avenue 1 opened\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/115014"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=115014"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/115014\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=115014"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=115014"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=115014"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}