Some developers will continue to showcase their projects with the help of technology, while others are looking to delay their launches.
With the Covid-19 outbreak getting worse, developers in Singapore were told by the Controller of Housing to close all show galleries for residential projects from 7 April to 4 May, reported The Business Times.
Desmond Sim, Head of Research (South-east Asia) at CBRE, noted that developers with existing showflats can still continue showcasing their project to prospective buyers with the help of technology, such as virtual showflat tour.
In view of the latest measures, Chip Eng Seng revealed that it will close the showflat for its 378-unit project Kopar at Newton from Tuesday (7 April). It commenced previews of the project on 25 March while following the authorities’ social distancing guidelines at the time.
Keppel Land said that it will be temporarily closing its showflat for 19 Nassim for a month until 4 May. It previously conducted private preview for the project on 20 to 22 March to “parties who had expressed keen interest in the development”, shared a spokesperson.
Other projects that were initially eyeing a first half 2020 launch include The Landmark (by MCC Singapore, SSLE Development and ZACD Group), as well as Forett at Bukit Timah by Qingjian Realty (South Pacific) Group and Perennial Real Estate Holdings.
“Forett at Bukit Timah will be launched when we are assured and confident of the situation. We are committed to protecting the well-being of our visitors,” said Yen Chong, Deputy General Manager for Qingjian.
Some developers had already decided to delay their launches even before the Controller of Housing’s announcement.
Tiong Seng and Ocean Sky, the co-developers of Cairnhill 16, had been planning to hold a preview in April but decided to delay it due to Covid-19. Once held, the preview will be by appointment, they said.
Sim expects some launches originally scheduled for the second quarter to be pushed into 2H 2020. This could be attributed to factors like a shortage of manpower for the sales galleries’ construction, tight availability of showflat sites and to avoid cannibalising the impact of their launch should there be a bunching up.
“Some launches are delayed due to constraints, such as delay in the arrival of showflat interior design materials, which may be imported,” added Nicholas Mak, Head of Research at ERA Realty.
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Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email firstname.lastname@example.org