Daily Archives: 3 Oct 2009

When a market is also a community chat stop

I REFER to Wednesday’s report, ‘Wet markets’ buyout causes upset’. Supermarket chain Sheng Siong bought over five wet markets in Choa Chu Kang, Serangoon, Bukit Batok West and Bukit Panjang, much to the dismay of heartlanders.

Wet markets are supposed to be places for residents to buy the freshest food at the lowest price possible. Each stall is managed by a stall owner, who has the right to give his customers the best and also take control of his selling price. Now wet markets will be replaced by Sheng Siong, goods will be sold to consumers at a fixed price. Residents in the neighbourhood are unhappy over higher prices and less variety of food.

Closure of the wet markets will also affect the unemployment rate. Stallholders are usually middle-aged or older. They may suffer from structural unemployment. Unlike previous contracts, new ones may allow termination. Usually less educated than the younger generation, stall owners tend to sign without realising they may have to leave in less than three months. Furthermore, some stallholders said they would have difficulty finding another stall at other wet markets. I feel for the stallholders as they are just trying to earn a living on their meagre income.

Wet markets are good places for residents to mingle and talk with other residents and stallholders. Residents feel comfortable and very much at home as they haggle amid the noise and familiar surroundings of wet markets they have patronised for years. Strong friendships were forged over the years as customers supported the stallholders. Continue reading

Developers ready to launch, but may hold their fire

Many looking at market conditions, competition before deciding launch date

DEVELOPERS are busy getting projects launch ready. However, whether they release them by this year’s end or next year will depend on market conditions, ‘ground feedback’ from potential buyers and the segment of the market the projects are in.

Far East Organization began previewing its Alba condo at Cairnhill Rise this week. The property giant is believed to have released 18 units up to the seventh floor of the 18-storey freehold condo, which has a total 50 units. The 18 units range from 1,862 to 2,250 sq ft.

Under the project’s ‘white plan’, Far East can customise apartment layouts to suit buyers’ preferences. The developer told BT that prices start from $2,400 psf. Alba comprises a single Y-shaped tower; most floors will have three units per floor although there are two levels in the development with just one unit per floor.

Oxley Land also began previewing Suites@Guillemard at Lim Ah Woo Road yesterday. The five-storey freehold project comprises 72 units, of which 45 are smallish one-bedders of 258-527 sq ft. The smallest unit is said to have been snapped up at about $400,000. As of 6pm yesterday, more than 50 units in the project were said to have been sold. The average price is believed to be about $1,000 psf. No interest absorption scheme (IAS) was offered. Continue reading