Due to the recent cooling measures by the local government, Sellers have become more than willing to negotiate, it said. Significantly, high-end family homes have been hardest struck by the government’s numerous real estate property cooling methods, along with selling prices dropping for 6 successive quarters. Therefore, when looking around for Symphony Suites by EL Development, property buyers are more careful before laying their option to purchase (OTP). In fact, many buyers will only be looking to place their option when their In-Principal Approval (IPA) has been secured by the bank.

Symphony Suites EL Development

The TDSR property measures has resulted in some less an ideal behaviour from HDB owners who are looking to upgrade, or single men and women along with new newlyweds in search of their particular very first homes. The Total Debt Servicing Ratio (TDSR) property measures has just reduded liquidity and in addition has caused it to be much tougher for HDB upgraders to invest in Symphony Suites, not to mention for new couples aspiring to join the fray by avoiding the HDB route.

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Symphony Suites Condo

The difficulty seen by buyers of Symphony Suites is not uncommon and developers have become more than willing to negotiate. Significantly, not only EL Development, other developers of high-end family homes have been hardest struck by the government’s numerous real estate property cooling methods and this has reduced their profitability in the last few years. The last few years has seen only  just one condo sold in Sentosa Cove in H1 2014, further displaying the lack of revenue within the high-end property segment and this has not spared.

New Project at Symphony Suites

However, property developers have are also sitting on huge property gains from the previous run up and therefore many of them develop the fiscal ability to keep present-day asking prices in particular to Symphony Suites by EL Development at Yishun Ave 9. Potential purchasers are quite conscious of the current downtrend in asking prices and they stay away from making purchases currently, in expectation of reduce prices in the nearby term.