Property prices appear to be on the rise again, but is the rebound sustainable?
ON A Monday night in the last week of July, commuters taking the train home to the eastern part of Singapore may have witnessed a small commotion at the Tanah Merah MRT station.
It was about 10pm, and a group of about 40 people who had formed a queue beside the station since late afternoon was being told to go home.
Apparently, they were queuing to be first in line when a new condominium – Optima@Tanah Merah – opened its doors for bookings. Except that it was not being launched the morning after, but on Friday morning. They were prepared to stand in line for three whole days to get first dibs.
Representatives from the developer TID, a tie-up between Hong Leong Group and Japan’s Mitsui Fudosan, implored the crowd to go home.
‘The queue will not be recognised. We will not sell anything until Friday morning,’ they said. Continue reading
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