By Mr. Propwise

After shrugging off the cumulative pressure of seven rounds of cooling measures, the property market finally seems to be reeling under the weight of the MAS’s Total Debt Servicing Ratio (TDSR) framework, with two major condo launches over the post-Hungry-Ghost weekend recording disappointing sales.

Over 1,100 units launched but only ~200 sold

Over 1,100 units combined were launched in the suburbs over the weekend in two projects but only around 200 were sold, which represents a low sell-through ratio. The Glades, a 726-unit condo by Keppel Land and China Vanke near Tanah Merah MRT, was reported to have sold around just 80-plus units over the weekend with asking prices ranging from $1,300 to $1,600 psf. This is slow compared to the nearby Urban Vista, which sold around 350 units over its launch weekend back in March at a similar price level, and is currently more than ...