Singapore, 15 May 2023 SALES of new private residential units (excluding executive condominiums or ECs) continued rising in April, pushed by the launches of Blossoms by the Park and Tembusu Grand.
But even as sales momentum accelerates, there are signs that developers are coming under pressure to lower prices, with some buyers having been sidelined after the latest market cooling measures and still-high interest rates.
OrangeTee & Tie senior vice-president of research and analytics Christine Sun said the new Additional Buyer's Stamp Duty (ABSD) rates did not deter Singaporeans from buying Blossoms by the Park; they made up the bulk of Purchasers at 83.9 per cent.
More than half the units sold were below 7 0square metres, she added.