Big launch of properties in uncharted territory

Big launch of properties in uncharted territory

The race is on as developers try and ride the wave of robust demand for primary sales by churning out projects as quickly as possible. Developers are apprehensive about the residential market as more BTO units are released.

Turnaround time has been crunched back from 12 to 18 months to around 9 to 12 months from the time the bid was won.

The recent popularity of shoebox units - which are up to 500 sq ft in size and tend to cost under $1 million - is also potentially problematic. Industry watchers worry that tenants will be hard to come by once all these apartments are completed and available for rent.

Source: Business Times – 7 April 2012