Price cuts at Perfect Ten condo in Bukit Timah raise eyebrows

PRICE cuts are ongoing at the recently-launched luxury condominium Perfect Ten in prime District 10, with some discounts exceeding the 5 per cent offered just last December. This has raised some eyebrows among industry watchers, given the timing and quantum of certain discounts.

When the freehold 230-unit project was put on the market on Dec 19 last year – just 3 days after Singapore’s new property cooling measures kicked in – the developer, Hong Kong-based CK Asset, offered what it described as a “one-time” discount of 5 per cent off the listed prices.

In the roughly 4 months since then, some units have continued to be marketed at reduced, "promotional" net prices. However, the exact size of the discounts has not always been clear, as not all the listed or gross prices were disclosed.