Developers review marketing tactics as buyers become more price-sensitive

Prices may be adjusted on a per sq ft basis.

According to Knight Frank, market exuberance for private homes has been very much tampered by the existing property cooling measures and the TDSR framework, which has led potential property buyers to become more sensitive to the overall price quantum.

Recognising the slowing market activity and the importance of ‘pricing it right’, more developers are reviewing their marketing and pricing strategies to entice buyers, with some looking at reducing unit sizes or adjusting prices on a per sq ft basis.

Here's more:

Total new sales volume in 2Q 2014 is expected to be between 2,500 and 3,000 units, on the back of more new launches and fairly positive market interest to date. Market interest is expected to gradually return with developers’ attractive offerings for their new launches.

Lakeville, launched in first weekend of April, was a success with all units released in the first phase sold. Sky Habitat, re-launched at lower prices in the third weekend of April, has seen very good response, given its good location in Bishan and near the Bishan MRT station.