A battle royale for the homebuyer dollar

This week in Property

• Singapore developers make one big push at the year-end
• Why the government should sell more EC sites  
• Dalvey Road bungalow linked to Three Arrows’ Zhu Su sold for S$51 million  
• The remaking of Hongkong Land

Big push

And so it begins. An epic rush to market six projects totalling more than 3,500 units in the space of a month. This after three dismal quarters when developers struggled to move new projects and monthly sales fell to record lows. To put things in context, in the first six months of 2024, developers launched a total of 2,485 new units and another 1,325 units in the third quarter.

Those shopping for a property will be pleased – thousands turned up at showflats over the Deepavali weekend, and bank officers will no doubt also be waiting to serve up fresh mortgage packages. With rates easing since last year, Ry-Anne Lim reports that some banks have shaved rates down to the 2.5 per cent mark (terms and conditions apply, of course).