Will the two new residential sites in OCR stabilise property prices?

Interest in Forest Woods and The Alps Residences may increase sales volume.

The two new residential developments located at the Outside Central Region (OCR) might spur property prices stabilisation in the coming months as the they gain healthy interest from potential buyers.

According to DBS Research, both City Developments Ltd.'s Forest Woods and MCC Land's The Alps Residences have seen huge number of people crowding their respective showrooms in the previous week.

DBS stated the indicative average selling prices (ASP) are lower-to-flat on higher land prices for Forest Woods and lower land prices for The Alps Residences, compared to recent surrounding launches.

For Forest Woods, the main attractive selling point is its proximity to NEX Shopping Centre and Serangoon MRT Station. It is selling at an indicative ASP of around $1,300 psf.

Meanwhile, The Alps Residences was advertised as the lowest psf private condominium in 2016 at indicative ASP of around S$1,100 psf.

"Judging from the interests garnered from first-day viewing, if these are translated to actual bookings, we believe they can be seen as a signal of further stabilisation in property prices. The property sales volume next month could be an interesting data point to note," DBS said.