Agent.sg / Property news / Tale of two cities for recent condo launches

Tale of two cities for recent condo launches

DURING the weekend before last, four new private residential projects were put on the market and all of them had posted relatively tepid sales, ranging from five units for Cuscaden Reserve to 21 units at Meyer Mansion.

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The other two projects released in that week were [email protected], next to Farrer Park MRT Station in the Serangoon Road area, and The Antares, next to Mattar MRT Station in the Aljunied area, with respective sales of 12 units and 17 units.

But size matters too. Economies of scale can be derived. Assuming developers set aside 1-2 per cent of a residential project's gross development value for advertising and promotion costs, in absolute quantum, this works out to a much-bigger A&P budget for a big project than a small development. This creates more bang for the buck in creating awareness of the project in the eyes of potential buyers. Agents too would be motivated to find buyers for big projects - as there are more units to be sold.

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