Sing Holdings

[CY09]

The bigger units were probably expected to fetch better prices in a hot market especially from overseas investors. The only thing thing they should have anticipated was the case where property market and demand goes down it will be very hard to sell


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Good point, but do note Waterwoods is an EC unit so only SC/SPR couples can apply etc. If both are PRs cant buy EC. Secondly, to buy an EC, there is an income ceiling of approx 12k and a TDSR regulation, the marketers at waterwoods were expecting 4 bed rm buyers to be 1) Cash/CPF rich (to pay for the 20% down payment), 2) rich parents who could sponsor their children or 3) couples prepared to gear to their teeth.

The whole lesson highlights the importance of future EC project developers to know they should price most of their units at quantum of $1M or below to move units; despite having to sell their projects at above $800 PSF. Future EC projects at Punggol or Yung Ping, JW ( the consortium of OKP, BBR and others) should take note of this