Buyers throng showflats, snap up 224 units at Watertown over the weekend

Chinese New Year cheer for condo launches
By Esther Teo, Property Reporter

The notion that buyers avoid the property market during the Chinese New Year was shot down in flames over the weekend when 224 homes were sold at Watertown in Punggol Central.

Other projects also held open days over the festive weekend, with many willing buyers heading to showflats.

The so-called seasonal effect - namely that sales slow during the December school holidays, the Hungry Ghost Festival and Chinese New Year - has long dampened real estate activity. But things have been changing in recent years.

Mr Chia Boon Kuah, Far East's chief operating officer of property sales
Local home-seekers are more willing to buy all year round while there is also an increasing share of foreigners in the market who might be less superstitious. Developers keen to shift property in what could be a slow year also seem happy to take their chances.

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