New launches are a bit like the Premier League matches of the property market. Behind the scenes, there’s always an undercurrent of nerves as developers – and their marketing teams – see whether their multi-million-dollar ventures are going to pan out. And for the general public, momentum is a real thing: properties that are selling out fast in turn attract more buyers; just like long queues at a hawker stall identify it as one of the “good ones”.
Just recently, a new launch (The Linq @ Beauty World) made headlines for selling 96% of its units on the first day. Okay, granted it was 115 units, but taking into account the Covid-19 situation and the recent OTP re-issue restrictions that is nonetheless an impressive showing.
Which is exactly what made us curious, what happened to the launch-day record setters of yesteryear? Just because a development sold well on launch day, does it mean it carried on to appreciate well, get higher rental yields, etc?...