Cautious land bids the litmus test of developers' reading of residential property market

DESPITE the Covid-19 outbreak, a wave of positive vibes was generated in the residential property market last month from the relatively impressive take-ups at several project launches - The M along Middle Road, Luxus Hills (Contemporary Collection) landed homes in the Seletar Hills area, and Parc Canberra.

Many developers were toasting the successful launches of these projects, even if they were by their competitors, hoping the positive news would boost overall market sentiment.

Property consultants said the sales outcomes reflect Singaporeans' enduring affinity for property and that it is difficult for Singaporeans to resist visiting show flats if there is an attractive offering.