The “Hong Kong”-ization of Singapore Property

By Mr. Propwise

After slow sales at some projects in early September, market commentators were pondering if the property market was starting to buckle under the weight of the Total Debt Servicing Ratio (TDSR) framework. It appears that this pessimism was premature, with developers racking up good sales at some projects by going back to their favorite playbook – smaller, cheaper units.

Sky Vue sells 60% of the project on launch day

Artist’s impression of Sky Vue

Sky Vue, a 694-unit 99-year leasehold residential project near Bishan MRT, reportedly sold 410 of the 505 units released on its first day, at an average price of $1,500 per square foot – this translates to a sell-through ratio of around 80% of the units launched and 60% of the entire project. Most of the units sold were small one- and two-bedroom units, with the average price of a one-bedroom units around …