To celebrate its strong sales, property developer Far East Organization will be offering small discounts this month, ranging from one to three percent for several projects, including euHabitat.
Far East achieved a new sales record of 2,200 units for the first five months of this year, up from about 1,500 units over the same period last year and 750 units in 2010.
“To mark this achievement, we are offering special discounts for various projects in June only,” said the developer.
“We’ve seen healthy demand for our projects across the island, and we believe our special celebratory offer will make our products even more attractive to home buyers and investors.”
According to the URA’s (Urban Redevelopment Authority) new home sales figures for May, Far East’s Sea Hill project was among the best-selling condos, with units ranging from S$1,170 psf to S$1,759 psf.
In addition, other Far East properties recorded healthy take-up rates.
The 748-unit euHabitat in Eunos sold 681 of the 733 units released at a median price of S$1,288 last month.
Another property, The Clift at McCallum Street, sold 253 units of the 312 available at a median price of S$2,720 psf.
According to consultants, property developers have given out such discounts before. However, the discounts might not go a long way in attracting buyers, noted an agent who declined to be named.
“Far East always gives the best discounts, but buyers also know that they generally market projects at higher prices.”
Eugene Lim, Key Executive Officer at ERA Realty, said that Far East “probably exceeded its targets” and wanted to take advantage of the momentum to boost sales.
Source : PropertyGuru – 2012 Jun 18