Bear in mind that most buyers in today's market are HDB upgraders, who are mostly families; they will rarely feel comfortable with less than 900 sq ft, which is around the size of a typical four-room flat.
One prospective buyer, who told us they visited all three show flats, said their main fear was buying at the peak: This doesn't refer to just the three new projects: The market is also just processing the launch of three new projects in District 15 , as well as Altura EC, and projects like Pinetree Hill and The Myst.
Today rates are nearing four per cent, with some mortgage brokers telling us that rates of as high as five per cent are plausible by the end of the year, or early next year .A $1 million loan with a 25-year tenure, at pre-2020 rates of two per cent, would come to total interest repayments of $271,563. At present rates of four per cent, the same loan would result in total interest repayments of $583,511.
She feels this is the reason why even lower-priced launches, such as The Arden, are moving slower than expected.Another realtor said that cooling measures have a major impact on prime region properties, because of the 60 per cent ABSD levied on foreigners. He says that: