Did UOL underprice its Clavon launch?

WHEN UOL Group sold 442 units at the Clavon condo along Clementi Avenue 1 by the end of the first day of its public launch, Dec 12, it achieved the best launch-day sale volume for a Singapore private housing project in 2020.

The 442 units were sold at an average price of S$1,640 per square foot and accounted for nearly 70 per cent of the 99-year leasehold project's total 640 units.

While that seems cause for celebration, some observers wondered if the quick sales meant UOL had underpriced the project. The pace of sales for the group's last two major launches were stretched over a longer period to maximise profit.