Hot sales at new condo launches can be too much of a good thing for developers

[SINGAPORE] The backdrop to the launch of the 666-unit Skye at Holland was the ratcheting up in US-China trade tensions.

However, Singapore’s condominium buyers appear immune to bad news. A media statement on Oct 11 from UOL Group and CapitaLand Development (CLD) noted that 658 units, or 99 per cent of inventory, were sold at the project’s launch at an average selling price of S$2,953 per square foot (psf). Almost all buyers were Singaporeans and permanent residents (PRs).

The 99 year-leasehold condominium in Holland Village is jointly developed by UOL, Singapore Land Group , CLD and Kheng Leong.