Developers lower prices for units at uncompleted projects

The selling prices at some uncompleted projects have fallen over the past three months between the range of 1% to 7% as developers aim to clear stock that have been on the market for some time.

According to data from the Urban Redevelopment Authority, the median prices from Urban Vista in Tanah Merah, The Glades in Bedok Rise and D’Leedon in District 10 have all recorded declines in their median prices from December 2013 to February 2014. This could reflect the fact that developers are pressured to give discounts due to stiff competition from newer launches.

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