Builders make bid to move unsold units

Some developers are ramping up their marketing and throwing in discounts in a bid to move unsold units.

Bukit Sembawang marketed 19 units from its Paterson Suites, in Paterson Road, over the weekend with offers that effectively meant lower prices for buyers.

One incentive could be the guaranteed 5 per cent rental yield for four years advertised in The Straits Times last Friday by the developer.

This works out to $300,000 a year - or $25,000 each month - for four years, on a $6 million apartment. So if the rent falls below $25,000 a month, the developer will top up the difference.

Owner-occupiers were given an outright 10 per cent discount off the purchase price.

Encouraged by strong sales figures in recent months, developers may relaunch or revive promotions as they want a slice of the pie.

Source: The Straits Times – 24 April 2012