Property Updates 2020

3 Apr 2020

Well, there are  40 projects scheduled for launch and an additional unsold inventory of 30,473 units in 2020.

Thus, analyst foresees that 2020 will be a buyer’s market and property buyers will be spoilt for choices. However, projects from the Core Central Region (CCR) will continue to have high demand, making up close to 40% of units available for launch in the year.

In 2019, the Chinese accounted for approximately around 19% of new home purchases in the central region, excluding those by Singaporeans. However in 2020, Chinese buyers are unlikely to feature in the short term due to the Covid-19 outbreak, but are expected to return in the middle to long term.
In terms of property prices, there are no significant pressures to reduce prices or give discounts as the level of unsold inventory is still manageable. In addition, most of the projects with additional buyer’s stamp duty deadline in 2020 either have their units 100% sold or close to fully sold.
Treasure at Tampines is one project that is selling healthily in the East part of Singapore. With good entry price, and close proximity to Simei MRT and lack of nearby competition helps in pushing the sale. Treasure at Tampines was launched in 2019, to date, it  is more than 70% sold.
Jadescape at Shunfu is another well like project located at Rest of Core Region (RCR). City fringe living with several top schools in Singapore, Jadescape is more than 60% sold to date.
Riverfront Residences located along Hougang Ave 7 is another well sought after project in the North Eastern part of Singapore. Riverfront Residences affordable entry price among the new launch competitors had helped boost the sale to more than 80% sold.

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