Blossoms by the Park sells close to 75% of units during launch

Of its buyers, three were foreigners.

Blossoms by the Park in Slim Barracks Rise sold about 75% or more than 100 of its 275 residential units during its launch on 29 April.

It is the first private condo launch since the latest hike in additional buyer’s stamp duty (ABSD) rates.

"Its launch-day take-up rate of close to 75% is the highest among that of other new launches this year and we think it will give some confidence to the market, particularly after the fresh bout of cooling measures," Ismail Gafoor, CEO of PropNex, said.

Data from PropNex showed that most of the condo's buyers were Singaporeans and permanent residents (PR).

"From our observations, many buyers at new launches do not pay ABSD as they are purchasing their first residential property, and hence are not affected by the new measures," Gafoor said.

Three foreigners bought units during the launch; of which, two were Americans.

"Owing to free trade agreements, nationals from the USA are accorded the same stamp duty treatment as Singapore citizens," Gafoor explained.

The other foreign buyer, meanwhile, was subjected to the 60% ABSD rate.

Follow the link s for more news on

PropNex

ABSD rates

property for sale

If you've been wondering whether SBR could work for your company — yes, probably.

A lot of the companies we partner with started as readers. They'd been following our coverage for a while, saw their own customers and competitors in it, and eventually asked the obvious question: could we do something with you? The answer is usually yes. The shape of it depends on what you're trying to do.

The options are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. Some partners use one channel; most use a mix. We figure out the right combination by starting with your brief, not with our rate card.

So if the question has been on your mind, here's the easy way to ask it.

We'll tell you honestly whether we can help, and how. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia