Developers confident of beating 2020 ABSD deadline

Singapore

SEVEN housing projects facing additional buyer's stamp duty (ABSD) deadlines next year have yet to sell all their units - but their developers are confident these will be sold in good time, following an opportune mix of strong demand and low supply at launch that allowed them to rack up brisk sales.

According to data from real estate consultancy Cushman & Wakefield, the projects have a total of 95 unsold units. However, of the seven, the majority have already cleared over 90 per cent of their inventory as at end September this year.

Some developers told The Business Times that they have sold additional units since end Sept, such as Hao Yuan's executive condominium Northwave which cleared its final unit, while the 19-unit Cayman Residences has sold another fou…