Signs of cracking in the developers market is slowly, but surely, beginning to show. This has appeared few times in the various papers and media in the past few weeks. And, goes to show how aggressive they are trying to push units out. As I have mentioned in my previous posts here and here. I kinda expected them to come up with ways to increase sales, and I believe there will be more of such moves by other developers.
Below shows the strategy adopted by OUE to move units at their Twinpeaks. It is essentially the Deferred Payment Scheme from years ago: pay 20% upfront, and then worry about the 80% years later.
As you can see, in the below graphics, if the ABSD indeed gets removed with the 24/36mths, the owner will save easily a few hundred grand (depending on the size and what number of property he/she already holds)
Apparently, according to reports, after they launched this scheme, they managed to sell a few units based on this new strategy. Though it doesn’t say, whether the new buyers are buying for their own stay or renting it out.
so, are you actually tempted by this, and would you utilize this scheme to move into your “dream home”?