Tag Archives: New Launches

Sales of private homes reach new highs in July

Sales of uncompleted private homes reached a new high last month.

The number of units sold surged more than 50 per cent from June, as improving market sentiments spurred more home buyers to snap up properties.

A total of 2,767 units were sold in July, up from 1,825 in June.

The developments that sold the most units last month were The Gale, Meadows@ Peirce, Waterfront Key, Sophia Residences and Parc Imperial.

These five projects made up nearly 40 per cent of total sales.

The median price for these projects ranged between S$696 and S$1591 per square foot. Continue reading

Condo ads – caveat emptor

PROPERTY developers, by virtue of their particular trade, have a habit of getting creative in marketing campaigns. In recent, fairly typical instances, two property companies advertised projects as being near unconfirmed locations of future MRT stations. The real estate business knows private property by train stations is highly valued, even if buyers are car owners. Being flexible with the truth in advertising has no place in an industry that meets a prime social goal besides being a plank of the economy.

Following a report carried in this newspaper, the two firms stopped using misleading transport information as a selling point. This is all to the good, particularly after a Land Transport Authority (LTA) spokesman dismissed the advertised claims as ‘wild guesses’. Putting out unconfirmed MRT site information is not the only ploy resorted to. It has become a common – and even acceptable – industry practice for advertised properties to be depicted as being ensconced in verdant greenery when in reality, the ‘greenery’ is man-made infrastructure such as busy thoroughfares and tall buildings. Schematic diagrams frequently show schools, shopping malls, eating places and other amenities to be closer Continue reading