Property developers play the waiting game as buyers hunt for good bargains

Market expects a price correction soon.

According to PropNex, developers are likely to take on a cautious front and time their launches, keeping in mind that it is a buyers’ market now and there is general expectation of a price correction.

Also, expect developers to continue minting a high proportion of small units in projects to keep quantum prices within reach of TDSR-constrained buyers. Due to the various restrictive cooling measures, investors may feel no great urgency to buy—as they wait for a more attractive entry point.

Mr Mohamed Ismail, CEO of PropNex Realty commented:

“Existing launches are still fairly muted compared to pre-TDSR days as buyers are increasingly selective with regard to their buying decisions. However, the good sales performance of Rivertrees and RiverBank in the mass market segment, and Hallmark Residences from the high-end segment (last month) could signal that underlying demand for real estate investment is still present. Potential buyers could be waiting for good bargains to come, so the key is to find the right price point at which buyers are comfortable with”.