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More developers launching properties during LNY festive season

More developers are choosing to launch properties during the Lunar New Year period. Real estate analysts said they are seeing more launches in recent years, with at least two private condominiums set for viewing this week.

SINGAPORE: More developers are choosing to launch properties during the Lunar New Year period.

Real estate analysts said they are seeing more launches in recent years, with at least two private condominiums set for viewing this week.

Lunar New Year is usually considered an off-peak period, as property agents may be away on holiday.

But in recent years, developers are taking advantage of the fact that interested buyers view showflats after their Lunar New Year visiting.

Riverbank @ Fernvale will be launched on the seventh day of the Lunar New Year, on Thursday.

While its showflat is not yet open, members of the public were already at its premises on Sunday for a sneak peek.

Rivertrees Residences, which is located in the same area, will open for preview on 8 February, the ninth day of the Lunar New Year.

Indicative prices of both projects range between S$900 to S$1,100 per square foot.

Chris Koh, director of Chris International, said: "We've seen before in the past where developers did launch condos during the Chinese New Year and they did receive quite a lot of people, they had quite good sales. Perhaps maybe the perception of some buyers is that buying during Chinese New Year is an auspicious thing.”

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