| SINGAPORE : Some developers are mulling at the possibility of raising their property prices.
This comes after a good turnout over the weekend by potential home-buyers - which translated into strong sales numbers.
Some developers are also starting to think about bringing forward their project launches.
Property sales over this past weekend have been better than what most developers had anticipated.
Many developers reported a sharp increase in the number of visitors to their show flats.
They said sales were boosted by the new 90 per cent financing limit and the 5 per cent cash outlay.
Chia Ngiang Hong, Group General Manager of City Developments, said: "These two are very helpful indeed for those who are first-time buyers and upgraders. Investors also find this very attractive as there are much more options in terms of investment for other kind of instrument which they are looking at."
Chia Boon Kuah, Deputy COO of Far East Organisation, said: "In the last eight years, it has been a doldrum. This 5 percent cash down, to us, is surely the turning point and what best way to describe or to underscore this then the numbers that were achieved over the weekend. I think that spoke volumes about buyers returning to private property."
Both developers and agents said those who made purchases had been house-hunting for sometime.
Joseph Tan, Director of Residential at CB Richard Ellis, said: "The people that we have seen coming in to buy over the weekend are basically prospects who have been looking at the various projects.
"They have visited us about two to three times before, and this announcement is a small catalyst to push them to making a faster decision."
And going by the positive response to last week's policy changes, developers are not ruling out the prospect of bringing forward some of their property launches.
Chia Ngiang Hong, Group General Manager of City Developments, said: "We have earlier mentioned that we are looking at releasing three projects. They are St Regis, King's Centre Plot 3 and possibly Tower 2 of the Sail at Marina Bay. Even though the dates are not fixed, we are now examining to see if we need to bring forward some of these launches."
Property developers are also not ruling out the possibility of raising the prices of their projects.
Chia Boon Kuah, Deputy COO of Far East Organisation, said: "We will certainly be looking at the demand, the transaction, and we will be making a small adjustment."
Analysts have revised their full-year forecasts for the total number of units sold to about 8,000 units - up from the earlier forecast of 6,500 units. - CNA/de
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