Prices of new project launches slashed by 5-10%

Bite marks of cooling measures starting to show.

According to UOB Kay Hian, their visits to show flats post measures indicate that volumes in show flat have gone down by 20-40%.

Agents UOB Kay Hian spoke to noted that post measures buyers are taking a longer time and a closer look before signing on the dotted line.

Here's more from UOB Kay Hian:

New project launches post measures, like La Fiesta and Q Bay@Tampines, were seen offering discounts of 5-10% while existing launches like D’Leedon were seen offering higher discounts of 10-15% to move inventory.

Demand for these projects has picked up after the additional discounts by developers, indicating more buying interest at slightly lower price levels and supporting our case that prices are unlikely to see a more than 10% fall.