“I wouldn’t say there haven’t been any effect. Some buyers are taking longer to make a decision,” said Hutton's Mr Lee, referring to the property curbs that have raised acquisition costs for buyers and curbed their ability to take out larger loans to purchase private property.
“ were already selling but the announcement of the Cross Island Line boosted demand even more. To capture this demand, they have released more units.” Echoing that, Mr Lee noted that some mega projects launched before last year’s property curbs have continued to receive interest from buyers. “Some are still clocking in double-digit sales every month, and are now about 50 per cent sold.”For now, while some developers have increased commissions to incentivise their agents, they have stopped short at doling out goodies for buyers given the demand.
“We stay in Tampines and Treasure happens to be one of the locations we frequent, especially with the market just beside it. So we thought we’ll come and check it out.” Speaking to Channel NewsAsia at the Treasure's sales gallery on Friday, OrangeTee & Tie’s managing director Steven Tan said he is “very optimistic” about sales given the new development's “attractive” pricing and other unique selling points.
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