Do you know that the property market has chilled considerably with many unsold units? Even huge property developers like Capitaland with established tracked records can’t avoid this..
We do not think that “refurbishment” of the unsold units and displaying of “fireworks and laser works” are going to help much to drive sales as the unsold units are mainly demand driven factors like higher stamp duties i.e Additional Buyer Stamp Duties and difficulties obtaining credit from the Bank i.e Total Debt Servicing Ratio. Residential pricing will continue to face pressure and we believe that price cuts for up-coming developments are inevitable.
Along with the recent news that many property agents are leaving the industry, we also believe that this is the only the beginning and the worst has yet to come.
Good luck to the up-coming developments that are scheduled to launch. *pray*