[UPDATE] Property sector in limbo as projects’ sales galleries stay closed
-adapted from Cecilia Chow EdgeProp Singapore
|May 29, 2020 6:00 AM SGT
.. Circuit breaker sales
CEL Development had previewed Kopar at Newton in the fourth week of March, after strict safe distancing measures were introduced, and it was launched on the weekend of April 4–5, just before the circuit breaker kicked in on April 7. To date, 94 units have been sold, or close to 25%, out of a total of 378 units in the high-end condo located on Kampong Java Road, just off Newton Circus in prime District 9.
Of the 94 units, 20 were sold during the seven weeks — April 7 to May 22 — of the circuit breaker. CEL Development’s Ng estimates that 15 out of the 20 were purchases made without having visited the physical sales gallery.
At Logan Property’s 1,410-unit Florence Residences, 38 units were sold during the first 45 days of the circuit breaker, while the 1,259-unit Stirling Residences chalked up sales of 14 units over the same period. “If developers are allowed to open their sales gallery, coupled with the virtual tours, sales should pick up pace,” Chng says.
Meanwhile, the biggest of the mega project launches, the 2,203-unit Treasure at Tampines, captured 43 sales from April 7 to May 22. About half of the purchases were by those who visited the sales gallery previously, notes a spokesperson for Sim Lian Land.