Singapore Property Market Sees More Selective Interest In Collective Sales.
Investors looking for collective sales of private properties have been more selective and not jumping at any old development today. Developers are looking to create new products and to capitalize on changing investment patterns and lifestyles of buye
Signapore (I-Newswire) August 8, 2012 - Collective sales in the past have benefitted many Singaporeans. Many lucky home owners became instant millionaires after selling their private properties collectively to developers and investors. Collective sales by home owners are often sought after by developers looking to secure an established plot of land to increase their land bank. Many Singaporeans have been trying to their luck to spot the next collective sales to emulate the lucrative success of others.
But collective sales have not always been lucrative for the lucky home owners. Back in the 2008 and 2009, collective sales slowed considerably. But in the recent two years, Singapore Property
market has seen a steady stream successful collective sales.
Take for example, a notable collective sale of a Singapore apartment, the 19 unit Sophia Mansions, to Roxy-Pacific. Owners of a three bedroom apartment is estimated to receive
between S$2.5 million and S$2.7 million in gross sales proceeds.
Analysts are generally bullish about the market, and developers’ confidence remains high and intact because of buyer’s demand, and the low interest rate situation in Singapore now.
Developers are also looking to create new products and to capitalize on changing investment patterns and lifestyles of buyers. In the past year, developers has shown increasing interest in mixed-use collective sales site. This hybrid segment of the market opens up new opportunities for developers to create new products. Developers can explore further options of including retail or commercial component into a residential component.
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Published On:August 8, 2012
Print Release:Print Release
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