While more developers have taken to cutting prices to improve sales amid a property slowdown, potential home buyers anticipating a broad-based price war may be disappointed as the private residential market has yet to reach a tipping point that could trigger such a situation. Analysts told TODAY that most developers are not in a rush to lower prices given that demand has yet to reach a standstill. Projects that have been relaunched at a discount are isolated cases that are unlikely to result in intense price competition in the market, they said. Multiple sets of cooling measures and loan restrictions introduced last year have kept buyers on the sidelines, forcing some developers to re-launch certain projects at lower prices to generate demand. CapitaLand in Apr re-launched its Sky Habitat condominium in Bishan at about 10 to 15 per cent lower than its initial launch price. In Feb, MCL Land cut prices at Hallmark Residences at Ewe Boon Road by about 10 per cent. And at Wheelock Properties’ The Panorama in Ang Mo Kio, a 10 to 15 per cent price cut.... Continue Reading