{"id":96057,"date":"2018-08-15T11:11:52","date_gmt":"2018-08-15T04:11:52","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/developers-slash-private-condo-prices-by-5-10\/"},"modified":"2018-08-15T12:02:46","modified_gmt":"2018-08-15T05:02:46","slug":"developers-slash-private-condo-prices-by-5-10","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/developers-slash-private-condo-prices-by-5-10\/","title":{"rendered":"Developers slash private condo prices by 5-10%"},"content":{"rendered":"


\nA crowd of buyers at the recent launch of The Tre Ver in Potong Pasir. (Photo: UOL Group)
\nPrivate condominiums launched before and after the introduction of new property curbs are trimming their unit prices by around 5.0 to 10 percent, reported TODAYonline.
\n\u201cThe price sweeteners are there to cushion the immediate impact of cooling measures and create an urgency to buy,\u201d said Dr Tan Tee Khoon, executive director at Knight Frank.
\nMore: Govt Cools Property Market With Higher ABSD Rates, Tighter LTV Limits
\nFor instance, Daintree Residence in Upper Bukit Timah reduced its average price by 5.0 percent from $1,800 psf to $1,710 psf. This is the first private residential project in Singapore to be rolled out after the new cooling measures took effect on 6 July
\nAt The Tre Ver at Potong Pasir, units were sold at an average price of $1,550 psf during its launch on 4 August. This means condos there are 10 percent cheaper than those in the nearby Park Colonial, which sold units at an average price of $1,750 psf. Notably, the latter\u2019s developer brought forward the project\u2019s launch to the evening of 5 July before the new curbs took effect
\nMoreover, Affinity @ Serangoon in Yio Chu Kang is offering 5.0 percent and 7.0 percent discounts for its one-bedders and two-bedroom condos respectively. But this only applies to the next 20 units sold since July 12, while Martin Modern in River Valley is also giving out a 5.0 percent discount for select units taken-up since that date. Lastly, a $20,000 discount is available at Queenstown\u2019s Margaret Ville.
\nEven though property developers have slashed prices at their private residential projects, Knight Frank\u2019s Tan and Huttons Asia\u2019s research head Lee Sze Teck both believe that units prices are unlikely to fall further in the coming months as construction and land costs are already locked in, with residential sites acquired at \u201cunprecedented prices\u201d.
\nCan you afford a Private Condominium? Check your\u00a0affordability\u00a0now.\u00a0
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Developers slash private condo prices by 5-10%<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

A crowd of buyers at the recent launch of The Tre Ver in Potong Pasir....<\/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-96057","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-oZj","jetpack-related-posts":[{"id":94757,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/developer-cools-price-in-response-to-cooling-measures\/","url_meta":{"origin":96057,"position":0},"title":"Developer cools price in response to cooling measures","date":"July 26, 2018","format":false,"excerpt":"\r The Tre Ver in Potong Pasir opened for preview last weekend, attracting about 6,000 potential buyers. (Photo: UOL Group) The developer of The Tre Ver condominium in Potong Pasir plans to offer significant discounts to attract home buyers amidst the new property cooling measures. \u201cIn the vicinity, we know\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":91370,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uol-to-launch-new-condo-after-good-sales-at-amber45\/","url_meta":{"origin":96057,"position":1},"title":"UOL to launch new condo after good sales at Amber45","date":"June 14, 2018","format":false,"excerpt":"\r Artist\u2019s impression of The Tre Ver, an upcoming condominium project in Potong Pasir. (Photo: UOL Group) UOL Group\u2019s freehold Amber45 condominium in District 15 continues to draw buyers, with about 65 percent of the 139 units already sold, up from 55 to 60 percent during the launch in mid-May,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":88067,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/80-of-units-released-at-amber45-sold-at-average-of-2200-psf\/","url_meta":{"origin":96057,"position":2},"title":"80% of units released at Amber45 sold at average of $2,200 psf","date":"May 14, 2018","format":false,"excerpt":"\r Artist\u2019s impression of the Amber 45 condominium at Amber Road. (Photo: UOL Group) UOL Group\u2019s Amber45 condominium at Amber Road was well-received by buyers, selling 80 percent or 80 of the 100 units released at an average price of about $2,200 psf at its launch last weekend (12-13 May).\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":95475,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/over-140-units-sold-at-the-tre-ver-in-just-hours\/","url_meta":{"origin":96057,"position":3},"title":"Over 140 units sold at The Tre Ver in just hours","date":"August 6, 2018","format":false,"excerpt":"\r A crowd of buyers at the launch of The Tre Ver over the weekend. (Photo: UOL Group) UOL and SingLand\u2019s move to offer substantial discounts to entice home buyers to The Tre Ver condominium amidst the new property curbs appears to have worked after a large crowd turned up\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":24499,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/raintree-gardens-launched-for-sale-for-at-least-315m\/","url_meta":{"origin":96057,"position":4},"title":"Raintree Gardens launched for sale for at least $315m","date":"August 31, 2016","format":false,"excerpt":"\r The Potong Pasir site could be redeveloped into a 600- to 748-unit waterfront condominium. Source: JLL A 175-unit river-fronting residential development in Potong Pasir was launched for sale on Wednesday (31 August), revealed sole marketing agent JLL. Built in the late 1980s, Raintree Gardens is a former HUDC estate\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":93351,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uol-groups-gwee-lian-kheng-to-retire-as-ceo\/","url_meta":{"origin":96057,"position":5},"title":"UOL Group\u2019s Gwee Lian Kheng to retire as CEO","date":"July 7, 2018","format":false,"excerpt":"\r UOL Group\u2019s total assets have grown to about $20 billion as at 31 March.\u00a0 UOL Group\u2019s board of directors is on the lookout for a new group chief executive as its current chief Gwee Lian Kheng is set to retire on 31 January 2019, after 45 years of service.\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\/96057"}],"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=96057"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/96057\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=96057"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=96057"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=96057"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}