Eugene Lim, Key Executive Officer at ERA, sheds light on this stating, “Buyers in the OCR who intend to occupy their purchased units may be reluctant to wait three-four years for completion, especially if they face Additional Buyer’s Stamp Duty obligations due to not selling their current property.
Even though sellers are asking for a lot, most are still charging less than S$2,000 psf, which makes buyers feel like they’re getting a good deal.Experts explain that aspiring upgraders seeking affordable options are left with little choice but to head to OCR due to rising prices in other segments, especially in the RCR.Experts attribute the decline in resale condo volume to a range of factors.
These new homes offer flexibility with the Progressive Payment Scheme, allowing payments to align with construction stages and potentially reducing initial monthly loan installments.” Alongside the luxury condo’s prime location and the influence of a renowned architect on its design, Eugene provides a more detailed breakdown behind the unit’s price point.
Source: News Formal (newsformal.com)
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