Friday, November 14, 2008

About this Blog

Higher-end HDB market cooling: Natura Loft at Bishan sees far fewer applicants

I'm not surprised, are you?

And on 29 Oct in ST, the developer had said
'We're very confident that there'll be a strong demand for our flats, which are new and attractively priced compared to resale flats in Bishan.'

Well, lets see how many percent of applications actually convert finally into real sales. If there's one thing previous DBSS launches have taught us, do not count your chickens before they hatch.

Nov 13, 2008
Higher-end HDB mkt cooling? (I'd replace the "?" with a ".")
By Jessica Cheam
THE higher-end of the public housing market is showing its first signs of cooling, with the Housing Board's latest condo-style flats receiving a lacklustre response.
With only one day left to the closing of applications, Natura Loft at Bishan has drawn about 600 applications for 480 flats, its developer told The Straits Times yesterday. This is in stark contrast to the previous three projects built under HDB's design, build and sell scheme (DBSS), which attracted overwhelming demand.
The first project, Premiere @ Tampines, was a hit, with 6,000 applications for 616 homes; City View @ Boon Keng had 3,500 buyers vying for 714 flats while the third project, Park Central at Ang Mo Kio, drew 2,300 bids for 578 units.

Industry watchers say Natura Loft is a victim of the latest turn in market sentiment, which has seen companies retrenching staff and economies worldwide entering recession.

'Announcements such as DBS Bank laying off 900 jobs has caught everyone off-guard, and local sentiment has turned very bad,' said Mr Colin Tan, head of research and consultancy at Chesterton Suntec International.

Other analysts such as ERA Asia-Pacific's assistant vice-president Eugene Lim said Natura Loft's pricing was 'on the high side'. (Hmm, you don't say! Well, someone has to send the developers this message)

'The pricey units were launched at a time when the market is jittery, making a double whammy for the project,' he said.

Posted by Ann in the Singapore Property Forum

May also want to read:
Fire Sale: Owners Dump Condos
The days of Cheap, Easy Credits chasing after property is OVER!
When the bubble of greed and fear burst, guess who suffer?
Property Investment Tip: Don't put all your eggs in one basket
HDB Resales: West Sees Highest Price Increase


Post a Comment

Dear visitors:
Your comments are most welcome!

The blogger here has been affectionately named by close allies as "Smart Buyer" but really, he's not smart. Smart Buyer just believes that being prudent is smart. That's the essence of the message of this blog and Smart Buyer hopes it'll benefit other property buyers.

Smart Buyer :)