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Strong sales at Blossoms by the Park launch suggest new ABSD hikes may not cool property prices
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Despite the new measures, Blossoms by the Park was well-received due in part to pent-up demand and limited new supply in the growing one-North business hub.
ST PHOTO: GAVIN FOO
SINGAPORE - Two days after a new round of property curbs took effect on April 27, Blossoms by the Park in Buona Vista surprised many with a robust 75 per cent take-up, prompting some analysts to question if the latest measures were sufficient to cool prices and demand.
Within two days of its launch, the city fringe condominium sold 205 of its 275 units despite the announcement late on April 26 of a fourth round of hikes in additional buyer’s stamp duty (ABSD) rates since 2011.
