Category Archives: New Launches

A late night property ballot … is this a sign of the times?

Posted on 31 Jul 2009 | Comments Off on A late night property ballot … is this a sign of the times?

The showflat was only due to open today.

But on Monday, some, mostly property agents, were already lining up for units at the Optima condominium at Tanah Merah. They went home after developer TID made it clear the queue would not be recognised.

However, this did not stop hundreds from turning up early yesterday – leading to a massive queue and the occasional ugly spat over queue-jumping. The result? TID decided, at about 8pm, to open the showflat doors and, unusually, kick off open balloting.

The process began after 11pm last night and carried on well into the wee hours of the morning. Successful applicants paid the 5-per-cent deposit on the spot. Continue reading →

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Speculation creeping back into market: Mah

Posted on 30 Jul 2009 | Comments Off on Speculation creeping back into market: Mah

Govt will act if housing market overheats; supply pipeline is strong

Speculation is trickling back into the property market and the government is watching the situation closely, National Development Minister Mah Bow Tan said yesterday.

The authorities will take action should the market overheat but home seekers should also be careful about making purchases, he underlined.

‘I wouldn’t say that there is excessive speculation at the moment but there is some element of speculation involved,’ Mr Mah told the press after the topping-out ceremony for Tower One at Marina Bay Financial Centre (MBFC).

‘Some of the practices and habits that you saw in the last property boom are beginning to come back.’ Continue reading →

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Posted in New Launches, Property Market / Real Estate

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