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Recent en bloc sales do not mean higher prices: Lawrence Wong

Developers are subject to demand and supply forces in the market, says minister, as well as the ABSD

Royalville on Bukit Timah Road was launched last month with an asking price of S$368 million. About 2,700 private residential units have been sold en-bloc in 2017 so far, more than four times that of the 600 units sold last year.

Mr Wong notes a "healthy increase" in the sales of new units in the first three quarters of the year, which in turn means "unsold supply in the pipeline has come down".


THE recent spate of en-bloc sales will not necessarily translate to higher prices, National Development Minister Lawrence Wong said in parliament on Monday.

That is because developers are subject to demand and supply forces in the market.

In particular, they are...

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