PDA

View Full Version : Far East woos buyers with 'special discounts'



reporter2
16-06-12, 08:00
http://www.straitstimes.com/Money/Story/STIStory_811476.html

Far East woos buyers with 'special discounts'

It celebrates solid sales by shaving 1%-3% off prices of some projects in June

Published on Jun 16, 2012

By AMANDA TAN


HOME buyers considering properties by Far East Organization might get to enjoy a small discount as the developer celebrates its solid sales record this year.

It said it is offering celebratory discounts ranging from 1 to 3 per cent for several projects, including euHabitat, this month.

Setting a new sales record of 2,200 units in the first five months of the year gave the company something to cheer about.

Far East sold about 1,500 units in the corresponding period last year and 750 the year before.

'To mark this achievement, we are offering special discounts for various projects in June only,' the developer said in response to queries from The Straits Times.

Several advertisements featuring various projects by Far East - both upcoming and completed - have been published recently.

'We've seen healthy demand for our projects across the island, and we believe our special celebratory offer will make our products even more attractive to home buyers and investors,' Far East said in a statement.

New home sales figures for last month released yesterday by the Urban Redevelopment Authority (URA) showed that SeaHill, an upcoming project by Far East, was among the top-selling condos.

Prices there ranged from $1,170 to $1,759 per sq ft (psf).

A check on other Far East properties showed healthy take-up rates as well. For instance, euHabitat at Eunos has sold 681 units, out of the 733 released. The project has 748 units in total. Those sold went for a median price of $1,288 last month.

The Clift, a higher-end project in McCallum Street, has sold 253 units of the 312 available. Units at the condo, completed in 2010, were sold for a median price of $2,720 psf last month.

Property consultants and agents interviewed said property developers have given out such discounts before.

One agent, who declined to be named, said the discounts might not go a long way towards attracting buyers.

'Far East always gives the best discounts, but buyers also know that they generally market projects at higher prices,' he said.

ERA Realty key executive officer Eugene Lim said Far East 'probably exceeded its targets' and wanted to build on the momentum to generate more sales.

'They give the discount as a deal sweetener,' he said, noting that even though the firm has a lot of stock left, it 'did very well'.

He said developers are also conscious of the increased supply that is set to hit the market.

'Most will want to clear their stock before that. There's no need to cut prices because the economy is still doing okay, so they offer incentives instead,' he said.

Property consultants said it is unlikely that Far East is pushing out its stock in anticipation of possible cooling measures in the property market.

However, home buyers could take a while to bite, as the June school holidays are now in full swing, said property agent Dean Wong.

He said sales are likely to pick up in the next two weeks as people return from vacation.

[email protected]

hyenergix
16-06-12, 08:05
Some very good plots are coming up to compete. Smart move by FEO to clear its stock by giving 2% discount using "celebration" as a smoke screen. Anyway after VVIP preview the prices are usually bumped up by at least 5% for most developers.

roly8
16-06-12, 09:15
still not cheap :cheers1:

Poloclub
16-06-12, 09:37
Must really admire how FEO can manage to sell some seahill units at >1700psf without even a TV commercial or celebrity architect.

bakasa2002
16-06-12, 10:47
Must really admire how FEO can manage to sell some seahill units at >1700psf without even a TV commercial or celebrity architect.

Do we take 20-30% off the 1700psf? I heard Watertown was shouting at 1300psf but in reality if you gone in early, most are below $1100psf ... Their discount are really scary! :)

Poloclub
16-06-12, 23:14
Do we take 20-30% off the 1700psf? I heard Watertown was shouting at 1300psf but in reality if you gone in early, most are below $1100psf ... Their discount are really scary! :)

price is after discount, before stamp duties reimbursement. I think pretty standard for new launches these days.

House
16-06-12, 23:18
Must really admire how FEO can manage to sell some seahill units at >1700psf without even a TV commercial or celebrity architect.

dun think is 1700psf. when i was there $1.7m can discount this discount that until left $1.3m. for a 1044sqft high flr sea view unit.

actually it's 2 in 1, you get the sea view plus also get the king kong king kong non-stop 24x7 from the container trucks that passes west coast highway till eternity

bakasa2002
16-06-12, 23:19
price is after discount, before stamp duties reimbursement. I think pretty standard for new launches these days.

After discount at 1700psf w just 3% SD rebate! Wow, taking my heads off feo. :)

Poloclub
17-06-12, 01:13
dun think is 1700psf. when i was there $1.7m can discount this discount that until left $1.3m. for a 1044sqft high flr sea view unit.

actually it's 2 in 1, you get the sea view plus also get the king kong king kong non-stop 24x7 from the container trucks that passes west coast highway till eternity

the list price for those seafacing premium units on 25th floor and above are 2190psf. after less is around 1800+psf

http://www.fareast.com.sg/images/feo/downloads/price-lists/Seahill%20%2814%20Jun%202012%29.pdf

danntbt
17-06-12, 06:56
After discount at 1700psf w just 3% SD rebate! Wow, taking my heads off feo. :)
.....I guess you do not wear a hat that's why you took off your head!.....wow do not have to be so drastic.....

House
17-06-12, 09:12
the list price for those seafacing premium units on 25th floor and above are 2190psf. after less is around 1800+psf

http://www.fareast.com.sg/images/feo/downloads/price-lists/Seahill%20%2814%20Jun%202012%29.pdf

Ok, I was looking at those 11,12th flr units

TheOnlyGayInTheVillage
17-06-12, 12:57
.....I guess you do not wear a hat that's why you took off your head!.....wow do not have to be so drastic.....

Kakaka this iz funny

bakasa2002
17-06-12, 22:26
Kakaka this iz funny

Good spot, it's hat...