Today is the 4th day of the Chinese Lunar New Year holiday, the holiday seems to zip past really fast, but the real estate market isn’t snoozing at all, unlike some of my colleagues (who are still in the holiday mood), developers – Far East Organization (in collaboration with) Fraser Centerpoint Homes developing the final parcel in the Bedok Reservoir district – Waterfront collection (waterfront waves, waterfront gold, waterfront key and now Waterfront Isle).
They launched a marketing blitz over the CNY holiday with big newspaper spreads drew renewed interest in the property. According to Channel News Asia, it is reported that a healthy crowd turned up at the Waterfront Isle showroom on Saturday, the third day of the Lunar New Year celebrations.
And as of 5.30pm, 29 of 59 units that were released on Saturday were sold. The number later rose to 37, as of 9pm.
Including sales from a preview last week, 125 out of 191 available units at the Bedok Reservoir development were snapped up so far.
This probably doesn’t mean that the recent property cooling measures didn’t work, but true long term investors and serious buyers who are not speculating that are coming in to buy property. Generally during such typical lull periods like the CNY holiday, developers throw in freebies, extra festive discounts etc thus bolstering sales.