Check out the following major future luxury home launches

The market however could only expect moderate take-up of up to 30% in the initial launch period.

According to Savills Consultancy & Research, while the global economic slowdown and draconian government policies have tempered investors’ exuberance, the rising number of unsold homes in the coming months could instigate a further price correction, which in turn may reignite some buying interest.

Here’s from Savills:

Bargain hunters may come out in greater force when more developments reach the end of their
two-year post-completion deadline to sell all the units. Developers who fail to dispose of all their units will incur a charge of 8%, 16% and 24% of the land purchase price if they were to extend their sales period into the first, second and third extra years respectively, pro-rated according to the number of unsold units.

Some developers have appealed for a waiver of the extension charges. In the event that such appeals are not granted, developers with shallower pockets could mark down the unsold units with deeper discounts or blocksell them at signifi cantly lower prices before the two-year window closes.

Developers with holding power will likely pay to lengthen their sales window while maintaining their current sales prices. Some may even choose to pay the ABSD and transfer their unsold inventory to an investment company and lease-out these units as investment assets while waiting for a price appreciation in the medium term.

The price correction may be contained within the luxury segment as the price quantum for these larger units is still high, posing affordability issues for the wider market. Together with a looming pipeline supply of 19,056 units to be completed in the next few years, any price cuts could trigger a resumption in demand, possibly resulting in sales hitting 1,000 units per quarter until the end of the year.

Already, more than seven major developments are slated to be launched within the next six months. We could expect moderate take-up of up to 30% in the initial launch period.

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