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SINGAPORE: Two adjacent condo developments in the Sengkang area are launching at around the same time.
Analysts said the recent fall in suburban private home prices has made property developers jittery, and more will want to launch projects sooner rather than later.
Colin Tan, research head at Suntec Real Estate Consultants, said: "We have gone beyond the historical demand, way beyond it. So I think most people feel that it has to give, at some point. And I think that's what's making the developers very nervous. So I think when the window of opportunity is there, they may take the chance to market it now."
Riverbank @ Fernvale opened its showflats for preview last week.
Its developer UOL Development said it has collected over 500 cheques for the 555-unit development.
Riverbank is located next to the upcoming 495-unit RiverTrees project, which is developed by a consortium formed by Frasers Centrepoint, Far East Orchard and Japanese firm Sekisui House.
The average selling price for a unit at Riverbank is S$1,000 per square foot.
Frasers Centrepoint said units at RiverTrees will probably be priced higher than that.


- CNA/gn