Sitting at the sidelines and watching the action from a safe distance. This is the position most home buyers are taking for the moment, as far as weekend sales at showflats goes. Though lunar new year preparations might have taken some steam out of the engine, some are hoping that it shows the cooling measures may be taking effect. Others may be waiting to see if property developers might lower property prices or throw in discounts of sorts.
Q Bay Residences, for example, launched with good sales some weeks back, but over the weekend, only 10 units were sold. Still, more than half of the 630 units in the new residential development has been sold. It was pretty much the same at the La Fiesta showflats, with only 7 units sold.
Properties that bucked the trend were CapitaLand’s Interlace and d’Leedon projects. The Interlace offered an additional 10 per cent discount on top of their previous 10 per cent, taking the prices down even more and selling 15 units. D’Leedon showed true promise with the sales of 47 units.
For now, the Chinese New Year break might be just the break buyers need to sit back and think things through, perhaps discuss a little over gatherings with family and friends, and do a stock-take of their current financial situations. New launches the week or two after will be the time to watch, and it may just set the mood for the rest of the year.