Significant discount are bing offered on the units that have been completed.
The current real estate market is brisk because of the developers offering various incentives, which are actually a follow up of tactics, to move units, practiced in 2016. These days condo developers are trying to lure home buyers with various offers and incentives, for example deferred payment schemes. This is according to The Straits Times.
Some of the projects currently offering such kind of schemes are The [email protected] II by TG Development, Ardmore Three by Wheelock Properties, and Sky Habitat by CapitaLand. Latest Upcoming Launches are the best to acquire in Singapore, such as the Seaside Residences -East Coast Seafront Living and
Two other projects promoted by ERA Realty Network are also offering incentives. One Balmoral is trying to attract home buyers with a flat 13 percent discount on all units. Likewise, Corals at Keppel Bay is offering a huge discount, a discount of $50,000, on selected units.
In 2016, OUE had a very creative marketing scheme, it offered deferred payments schemes for its Twin Peaks. This incentive received a warm welcome from the buyers as well as developers. While buyers were interested in buying the properties that had schemes, the developers began following this marketing suit to attract the customers.
CapitaLand had very interesting scheme, they called it ‘stay-then-pay.’ Under this scheme, buyers could immediately move into units and could pay the remaining sum over the period of one year. This scheme was available at d’Leedon and The Interlace .
In the future, more innovative sales schemes are likely to be available for completed project; nonetheless, experts have contrasting views on this kind of incentives. They believe that such offers will not affect the sales of newly launched condos.
According to Eugene Lim, Key Executive Officer at ERA Realty, completed projects represents “a very tiny percentage of the primary sales market.” Therefore incentives do not promote sales in the real estate market.