Mass-market and mid-tier projects are hot, but it is taking longer to sell investment properties
The upbeat sentiment in the new private home market has lured out the sellers in the sub-sale market.
Sub-sales – the sale of uncompleted homes by their buyers – of non-landed private properties tripled to 1,200 units in the second quarter, according to a DTZ quarterly report.
This time, though, it is mainly the mass-market and mid-tier projects that are popular sub-sales. In 2007, it was the higher-end projects that found favour with buyers.
Also, the sellers are taking longer to sell their investment properties.
The DTZ study found that a few mass-market projects made their way to the Top 10 list of projects with the most sub-sales. These included Casa Merah, located near the Tanah Merah MRT Station, The Centris in Jurong West and The Quartz in Compassvale. Continue reading
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