Residential
Developers trim prices for new private residential projects
To adjust to the new market reality after the rollout of the Total Debt Servicing ratio (TDSR) in late June, developers have been trimming launch prices for new private residential projects . For example, the 445-unit Thomson Three condo in Bright Hill Drive developed by UOL Group and Singapore Land, is now priced at a more realistic level of $1,350 to 1,400 psf, instead of $1,500 psf without TDSR. The showflat of the project will open this weekend and sales booking will start on Sept 20. The Skywoods project in the Dairy Farm area will also be released at $1,250 psf instead of $1,300 psf by TA Corpotation, Hock Lian Seng Holdings, King Wan Corporation and Far East Distillers. It is reported that with TDSR, buyers are more selective and sensitive to the total price quantum, making developers become more realistic in ...
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