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Prices dip for housing units at uncompleted projects

Published on Mar 19, 2014 8:32 AM
D’Leedon by CapitaLand saw median prices fall by 7.4 per cent for new sales from December to January. The project at Leedon Heights had sold 1,442 out of its 1,715 units by the end of last month. -- ST PHOTO: KEVIN LIM

Selling prices at some uncompleted projects have fallen over the past three months - by anything from just over 1 per cent to 7 per cent - possibly as developers aim to clear units that have been on the market for some time.

Urban Vista in Tanah Merah, The Glades nearby and D'Leedon have all recorded declines in their median prices from December to last month, Urban Redevelopment Authority (URA) figures show.

Consultants said developers could be facing pressure to give discounts due to stiff competition from newer launches. "But most of the projects will still try to maintain prices as much as possible," R'ST Research director Ong Kah Seng said.

OrangeTee research head Christine Li noted that a median price drop does not necessarily mean that developers reduced prices for the whole project.

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