Residential

Increased demand of commercial and industrial units expected

While sales for residential projects have been slower since the introduction of the Additional Buyer Stamp Duty (ABSD), there are still some buyers. Developers and agents selling small strata-titled commercial and industrial units are expecting increased demand from investors who are unwilling to pay the ABSD, and therefore are increasing their marketing efforts. One such developer is Oxley Holdings, which will launch five industrial, commercial and commercial-cum-residential developments over the next six months.

Far East Organization sold about 15 units at its projects, while City Developments sold a few units at 892-unit The Palette. Buyers seemed to be waiting for the prices to drop – despite the stream of viewers at showflats many did not buy anything. This is despite the packages offered by developers such as Far East Organization, Wing Tai Holdings and City Developments to offset the ABSD. Nonetheless, ...