A total of 1,217 units of brand new condo are sold to buyers in December which makes the total number of new home sales hit close to 10,000 units. The sales figure is comparable to that in 2019 and main factor driving such significant sales is the low bank rates and buyers’ optimism on market recovery as history has proved that property prices will increase after each crisis and with so many government instrumented measures, property bubbles likely will not happen unless there is drastic worldwide economy crisis. With increased percentage of ABSD, and lower Loan-To-Value, buying prudency is assured. Foreigners are also picking up units in view of our low interest rates and strong currencies. Mont Botanik Residence is the only brand new freehold condo in the West district and only left with balance 28-units.
Source: The Business Times
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