It’s fairer, says developer but mixed feelings from buyers, consultants
AN ALTERNATIVE to queues and the ‘first come, first served’ principle at property launches is emerging as developers turn to ballots to allocate flats in an increasingly active market.
A ballot was used amid tumultuous scenes at the Optima condo on Thursday night when buyers swamped the Tanah Merah showflat a day before it was due to open.
It was also employed when two-room flats were released at Somerset condo One Devonshire in June. And Boon Keng condo Airstream is set to launch on Wednesday with balloting.
The process – essentially buyers’ names are drawn out of a box – is getting backing from developers and buyers and may become increasingly common as activity gathers pace.
Mr Gerry de Silva, the head of group corporate affairs at Hong Leong, a partner in the Optima project, said balloting is fairer and stops people from trying tactics like selling places in a queue. Continue reading
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