Pasir Ris 8 frenzy raises policy risks for developers even as they eye richer margins

Singapore

THE Pasir Ris 8 project launched for sale just last weekend offers fresh evidence of continued strength in the Outside Central Region (OCR) segment for private homes.

But with sales behind this project hitting fever pitch - alongside a marketing process that had units offloaded at unusually quick and large price jumps in a single day - some questions will be stirred on the level of froth in the property market.

Developers with new project launches are likely to weigh opportunity for richer margins against policy risks.

Over the weekend, 415 units at Pasir Ris 8 - or 85 per cent of the total inventory of 487 apartments - were snapped up.

Prices of units sold ranged from S$1,400 per square foot (psf) to S$2,000 psf, with the aver…