‘Natural demand’ may be higher as immigrants step in; supply not a nagging issue
Even as Urban Redevelopment Authority yesterday launched the tender for a plum 99-year leasehold site for condo development at Dakota Crescent, expectations are running high that developers will trigger the launch of more housing sites from the government’s reserve list in the coming months.
This is against a backdrop of strong sales for mass-market projects, the latest being the Optima condo next to Tanah Merah MRT Station.
Mass-market home prices have risen about 10 to 20 per cent from the recent low in Q1, according to property consultants.
One concern is whether the market is running out of supply of mass-market condos and whether this will set the base for further price hikes.
The current pipeline has about 7,500 mass market homes yet to be launched on sites sold in the past, according to CB Continue reading
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