Developers pin hopes on CNY sales

[reporter2]

http://www.straitstimes.com/archive/...sales-20150131

Developers pin hopes on CNY sales

Many keeping show-flats open; some launches planned for festive period

Published on Jan 31, 2015 1:22 AM

By Rennie Whang


DEVELOPERS here are hoping festive cheer will help move homes in a sluggish market, so many show-flats will be staying open over Chinese New Year.

Several launches have also been planned around this period.

"The mood tends to be more relaxed as people have more time, and there's a feel-good factor," said ERA Realty key executive officer Eugene Lim.

City Developments is keeping it auspicious, holding a talk by a fengshui master today at the Jewel@Buangkok sales gallery. Fengshui tips for homes will be provided, and a forecast for the Year of the Goat.

CDL will also keep its show-flats open at The Venue Residences and Shoppes in Potong Pasir and at Coco Palms in Pasir Ris Grove.

A Far East Organization spokesman said it is likely to keep some sales galleries open this year, as it has in previous years, but has yet to decide which ones.

CapitaLand will open show-suites at Sky Habitat and Sky Vue and show-flats at d'Leedon and The Interlace from the third day of Chinese New Year, after closing on the eve and first two days.

EL Development, whose Symphony Suites preview starts in Yishun today, will be busy in the run-up to and during Chinese New Year. The official launch is scheduled for Feb 7.

"Interest seems healthy with more than 1,000 visitors at the show-flat in the past month... We expect most of the demand to come from families and young couples," said managing director Lim Yew Soon.

Prices range from $671,000 to $758,000 for a 689 sq ft two-bedder, while a 1,023 sq ft four-bedder is priced at $968,000 to $1.097 million.

The 660-unit project, with 11 residential blocks that are 15 storeys high, is designed for upgraders and families. It comes with full condominium facilities, including a 50m lap pool, gym, tennis court and jam room. It will also have its own childcare centre.

An earlier project that fared particularly well over Chinese New Year was Watertown in Punggol Central, which sold 224 homes during the period in 2012.

After Chinese New Year, buyers can check out Northpark Residences. Part of the integrated development at Northpoint City, it is due to launch in March.

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[vip]

What an interesting view! Chinese New Year is known to be a quiet month in the property market. The Chinese are busy spring cleaning, shopping for new year goodies, going for "loi hei" and visiting friends and relatives. Malaysian and China PRs/foreigners will go back to their hometown. The rest of the people, including the non-Chinese, will make use of the long weekend to go overseas for a getaway. Developers and marketing agents have to find non-Chinese to be on duty at these "almost empty" sales galleries. Anyway, what's the point of opening showflats during Chinese New Year in this slow market?

[nciravolo]

What an interesting view! Chinese New Year is known to be a quiet month in the property market. The Chinese are busy spring cleaning, shopping for new year goodies, going for "loi hei" and visiting friends and relatives. Malaysian and China PRs/foreigners will go back to their hometown. The rest of the people, including the non-Chinese, will make use of the long weekend to go overseas for a getaway. Developers and marketing agents have to find non-Chinese to be on duty at these "almost empty" sales galleries. Anyway, what's the point of opening showflats during Chinese New Year in this slow market?

I think that is a perfect time.
If I had intention of buying a house now (I already did, waiting to collect keys ), I would definitely go by this time of the year, as prices are "low-er", and not many people around.
Regarding Developers and marketing agents hiring non-Chinese people, that would be a really good point, as probably having a, let's say, Ang Moh agent for Ang Moh possible clients, would make everything easier.
And by the way festive doesn't mean that nobody should work.
I personally work for a big corporation and I work on Public Holidays. This CNY I will be sitting at my desk in the office