Fraud Blocker
Your search results

Why Some New Condo Releases Outperform Others

Posted by Jayson Ang on July 9, 2024
| 0

TLDR

When it comes to the real estate market, familiarity plays a crucial role in the success of larger condo projects like Lentor Mansion, compared to smaller boutique condos. Developers of larger projects have more resources for aggressive marketing, leading to higher awareness and easier sales. In contrast, smaller projects rely more on individual property agents, which can impact sales negatively. Additionally, the practice of renting out cramped utility spaces, known as Coffin Homes, exploits vulnerable individuals who have limited housing options. To combat this issue, providing more rental options and implementing stricter regulations on rental rates are essential. Ultimately, the decision to buy or sell a property depends on individual circumstances, and seeking expert advice can guide you through the complex real estate landscape effectively.

Big Condo Projects: The Hot Trend in Today’s Real Estate Market!

Despite slower sales at projects like The Arcady at Boon Keng or Hillhaven, news reports reveal that Lentor Mansion has managed to sell 75% of its units. As industry insiders, we are often quick to provide lengthy justifications for this type of success – citing factors such as price, location, and layout. However, there is an underrated reason that may be the true key to Lentor Mansion’s triumph – familiarity.

Let’s do a little experiment – a show of hands, if you will. Who here has heard of Lentor Mansion? And who has heard of The Arcady or Hillhaven? While I can’t actually see you, I would wager that the majority are familiar with Lentor Mansion, while the other two may as well be obscure European handbag brands.

One could argue that size plays a significant role in this discrepancy. After all, Lentor Mansion is a larger project, and therefore, receives more extensive marketing efforts. Don’t get me wrong, there are other factors at play – such as more land space, better facilities, and lower maintenance costs – but a larger project simply has more units to move.

This is where the developer’s budget comes into play. With a bigger project, the developer not only cannot afford to fail, but they also have more pressure to meet their five-year deadline (although the ABSD rule has somewhat relaxed this). This results in a larger budget for aggressive marketing strategies, such as print and bus ads, online ads, press visits, and high-quality showrooms.

This heightened awareness of the project makes it easier for property agents to sell to their clients. It’s much simpler to pitch a development that the prospect has already heard of, rather than having to introduce it from scratch.

In contrast, smaller or boutique condos often rely more heavily on property agents for sales. However, when these sales do not materialize, the developers are quick to point fingers at the agents for not doing enough.

The truth is, realtors are individuals, and when they operate independently, it’s like a game of tug-of-war where everyone is pulling in different directions. This lack of cohesion and teamwork can significantly impact sales.

Additionally, property agencies are always looking for a big win. New projects are where they make a substantial portion of their income, and they want to impress developers to secure future projects. This results in a greater emphasis on larger developments, with more resources and marketing materials provided to their agents.

When all of these factors are combined, it becomes clear why larger developments tend to have better launch day results and sell out faster. With the rising costs of property portals and a more cautious approach to purchasing, this trend is only set to continue. So the next time you see a flashy ad for a big condo, remember that it’s all part of the game, and we, as consumers, must be selective in our purchases.

Unveiling the Global Phenomenon of Coffin Homes!

There has been speculation that a group of landlords have commenced the practice of leasing out cramped utility spaces to unsuspecting tenants. As I observe the minuscule dimensions of these spaces, I cannot help but conclude that it is a blatant exploitation of individuals – for only the most destitute or disadvantaged would choose to reside there (and let me clarify, I also deem the provision of these cramped “rooms” to domestic helpers as a disgrace).

These utility rooms can typically be found in antiquated, first-generation executive apartments or maisonettes. Alternatively, they may be remnants of upgraded flats from the late 1980s to the early 2000s. The average size of these rooms hovers around a meager 50 to 55 square feet, which is akin to the dimensions of a tiny office cubicle.

Let it be known, it is strictly prohibited to rent out utility rooms to tenants. However, the question remains, who would dare file a complaint? Those coerced into occupying these cramped spaces have no alternative options, and if they dare voice their grievances, they risk facing as much repercussions as the landlord. The landlord may face a fine, but the tenant would be left without affordable housing. It is abundantly clear who holds the upper hand in such a scenario. In a twisted manner, it is the very demographic of the tenants that perpetuates this unconscionable practice.

The most effective means to eradicate such malpractice is not solely through penalties and warnings to landlords (although that should not be disregarded if warranted), but rather by providing a plethora of rental options and implementing stricter regulations on rental rates. People will not acquiesce to living in a utility room if they can afford superior accommodations.

Should You Buy, Sell or Wait?

If you’re reading this, you must be trying to figure out the best course of action right now: is it the right time to buy or sell?

It’s difficult to give an exact answer since everyone’s situation is unique and what works for one person may not necessarily work for you.

I can bring you a wealth of on-the-ground experience and a data-driven approach to provide clarity and direction. From beginners to experienced investors, our top-down, objective approach will help you on your real estate journey.

I can help you by:

  1. Offering Strategic Real Estate Advice – I can help create a comprehensive plan to guide you through your property journey.
  2. Connecting Your Home with the Perfect Buyers – Through stunning visuals, an effective communication strategy, and an in-depth knowledge of the market, we’ll ensure your home is presented in the best possible way to fulfill your goals.

You May Also Like …


Mega Developments vs. Regular Condos in Singapore: A Data-Driven Comparison
All Buying Tips Opinion

Mega Developments vs. Regular Condos in Singapore: A Data-Driven Comparison

TLDR Mega-developments (1,000+ units) in Singapore, once seen as chaotic, now offer competitive pricing and extensive facilities, making them attractive...
Read More
What Hidden Costs Are There When Selling Your House?
All Blog Posts Buying Tips

What Hidden Costs Are There When Selling Your House?

TLDR When selling your house, be prepared to cover expenses such as outstanding home loans, legal fees, property agent commissions,...
Read More
Singapore’s Top 5 Property Investment Hotspots for 2024
Mandarin Top 5

Singapore’s Top 5 Property Investment Hotspots for 2024

As one of the world's leading financial centers, Singapore has always been a popular destination for property investment. With a...
Read More
Is It Wise to Make a Partial Prepayment on Your Home Loan in 2024? Here’s How to Make Your Decision
All Buying Tips Opinion Selling Tips

Is It Wise to Make a Partial Prepayment on Your Home Loan in 2024? Here’s How to Make Your Decision

TLDR Partial prepayment of your home loan means paying off a chunk of your mortgage early to lower future monthly...
Read More
Top 5 Reasons : Why Singapore’s Property Market Is the Best Place to Invest for Long-Term Growth – Expert Analysis!
Mandarin Top 5

Top 5 Reasons : Why Singapore’s Property Market Is the Best Place to Invest for Long-Term Growth – Expert Analysis!

TLDR Singapore’s property market stands out for long-term investment due to its strong economy, stable government policies, high rental demand,...
Read More
5 Insider Tips From Real Estate Experts On How To Get The Best Deal On Property In Singapore
Mandarin Top 5

5 Insider Tips From Real Estate Experts On How To Get The Best Deal On Property In Singapore

Investing in property can be a great way to build wealth and secure your financial future. However, with Singapore's highly...
Read More
6 Secrets Foreign Investors Are Rarely Told About Singapore’s Real Estate Market
All Blog Posts Buying Tips

6 Secrets Foreign Investors Are Rarely Told About Singapore’s Real Estate Market

TLDR The Singapore property market presents unique characteristics that foreign buyers should consider. From the high rate of homeownership to...
Read More
8 Untold “Savings” Hacks You Need To Know As Soon As Possible
All Buying Tips Opinion Selling Tips

8 Untold “Savings” Hacks You Need To Know As Soon As Possible

TLDR Undervalued properties in Singapore are those priced at least 10% below market value, often due to urgent sellers, developer...
Read More
Top 5 Case Study : The Dark Side of Property Investing in Singapore: Scams, Fraud, and Risks
Mandarin Top 5

Top 5 Case Study : The Dark Side of Property Investing in Singapore: Scams, Fraud, and Risks

Singapore's property market has long been considered a lucrative investment sector, attracting investors and speculators looking to profit from the...
Read More
Selling Your Singapore Condo? Don’t Overlook This Critical Factor
All Opinion Selling Tips

Selling Your Singapore Condo? Don’t Overlook This Critical Factor

TLDR When selling a condo in Singapore, the number of units listed in the same development plays a crucial role....
Read More
3 Trends For New Launch Properties In 2023
All Blog Posts Buying Tips

3 Trends For New Launch Properties In 2023

TLDR When considering buying or selling a property in Singapore, it's crucial to understand the market dynamics and key metrics....
Read More
5 Proven Strategies for Increasing the Value of Your Singapore Property
Mandarin Top 5

5 Proven Strategies for Increasing the Value of Your Singapore Property

In Singapore's competitive real estate market, adding value to your property can be the key to making a profitable investment....
Read More
Explore the Benefits and Drawbacks of Holding an Open House!
All Blog Posts Buying Tips

Explore the Benefits and Drawbacks of Holding an Open House!

TLDR An open house is a valuable opportunity for sellers to showcase their home to potential buyers without pressure. It...
Read More
Top 5 Dim Sum Restaurants in Singapore
Mandarin Top 5

Top 5 Dim Sum Restaurants in Singapore

Dim sum, a popular culinary delight that originated from China, has made its way into the hearts and taste buds...
Read More
Step-By-Step Guide To Buy Resale HDB (Updated March 2023)
All Blog Posts Buying Tips

Step-By-Step Guide To Buy Resale HDB (Updated March 2023)

TLDR The process of purchasing a resale HDB flat involves steps such as checking eligibility, calculating affordability, registering intent to...
Read More
Dual-Key Condo: Analysing The Pros And Cons
All Buying Tips Opinion

Dual-Key Condo: Analysing The Pros And Cons

TLDR for "Dual-Key Condo: Analysing The Pros And Cons" When considering dual-key condo units, it's important to weigh the advantages...
Read More
Top 5 Reasons : Why Investing in Singapore’s Property Market Is a Smart Move for Millennials – Expert Analysis!
Mandarin Top 5

Top 5 Reasons : Why Investing in Singapore’s Property Market Is a Smart Move for Millennials – Expert Analysis!

In recent years, Singapore has emerged as a global financial hub and a prime destination for property investments. The city-state's...
Read More
Singapore Sights & Sounds: 5 Must-Know Facts From the Little Red Dot
Mandarin Top 5

Singapore Sights & Sounds: 5 Must-Know Facts From the Little Red Dot

Singapore, affectionately known as the Little Red Dot, is a vibrant city-state in Southeast Asia that boasts a unique blend...
Read More
Can Your HDB Flat Safeguard Your Retirement?
All Buying Tips

Can Your HDB Flat Safeguard Your Retirement?

TLDR The HDB market has seen significant changes over the years, with many young owners looking to upgrade to private...
Read More
Strategies for Overcoming ABSD and Acquiring Multiple Properties in 2023 (Revised)
All Buying Tips

Strategies for Overcoming ABSD and Acquiring Multiple Properties in 2023 (Revised)

TLDR When it comes to navigating the Additional Buyers Stamp Duty (ABSD) in Singapore, there are legal strategies available to...
Read More

Compare Listings