Singapore Property News This Week #87

Residential

Few units sold at showflats following new cooling measures

The new cooling measures which include the cap on EC unit sizes at 160 sq m, and the inclusion of private enclosed spaces and private roof terraces in the 10% bonus GFA had resulted in slower sales at showflats – CityLife@Tampines, which had only 20 three-bedroom units left for sale, sold only two units on Sunday. Other developments which had a quiet weekend at their showflats include the 52-unit SeaSuites and 148-unit Village along Pasir Panjang. The new cooling measures was targeted at keeping the size and the price of ECs down but some believe that it might be better to  introduce a ratio for balcony space to interior space rather than simply capping the GFA. While sales volume is expected to fall, it is expected to recover a little the next month as potential buyers might start buying in …