Eager mass market home buyers undeterred by looming supply surge

Bulk of unsold inventory belongs to this segment.

Eager mass market property buyers seem undeterred by the looming supply glut in this market segment. Two projects that were launched for sale over the weekend registered surprisingly strong take-ups, suggesting that prices remain sticky despite the impending supply surge.

FCL's North Park Residences sold more than 300 units over the weekend, most which were smaller than 753 square feet and priced below $1m.

Meanwhile, UOL Group's Botanique at Bartley sold around 150 units, most of which were priced at less than $1m.

However, Maybank Kim Eng warned that buyers should be cautious because mass market accounts for 60% of unsold inventory islandwide.

This implies that policy easing for mass market will not come soon, unlike in the high-end segment where sharp price falls amid an artificially suppressed market implies that the segment has the greatest potential for policy easing.

“We remain cautious on the mass-market segment. Unsold inventory has been building up and GLS sites sold in recent years will add to the count,” stated Maybank Kim Eng.

Also Read

One Sophia sells 30% of units at weekend launch

Turf City sites could deliver up to 800 public housing units: Huttons

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit