2 times oversubscribed, 35% sold

When Centrale 8 was launched, it was reported that it was oversubscribed by two times which technically translated, all should be sold as they were more buyers than units available. Today’s paper reported that till yesterday, on a notice board at the showroom, it showed that only 35% were sold. And the number of people visiting the showroom was about 20 families at any one time.

What happened to all the applicants? What happened to all the eager buyers and long queues? Centrale 8 was reported as a great place with great facilities, a mature estate, good value for money.

Was the report on the oversubscription wrong? Anything wrong with the 35% take sold figure? Anything wrong with all the hypes about the attractiveness of the estate?

Is the lack of interest got to do with the pricing, the location or the measures taken by HDB to build more new flats? Or is it that the influx of foreigners is slowing down?

Will Centrale 8 be the first DBSS project that is going to be partially sold, at least in the short term? Is this the first sign of a cooling down of the public housing market?


The said...

/// Was the report on the oversubscription wrong? Anything wrong with the 35% take sold figure? ///

Both numbers could be correct. Subscribing for a unit without having to put down the down-payment is just signalling an intention. Whether that intention is translated into actual S&P is another thing. We can all want to have 4 wives (or 4 husbands), but whether we can afford 4 wives (or more pertinently, 4 mothers-in-law) is another problem altogether. The other reason is the dropping of prices because someone KPKB. This must have woken up some potential buyers to the ridiculousness of the current prices, which can be tweaked down so substantially and so suddenly.

All the potential buyers of Centrale should play smart - don't buy yet. Wait until the prices come down by a further few hundred thousand dollars each before signing the S&P. Afterall, the government/HDB said they don't control the selling price. So, let the market decide on the selling price. If all the buyers can cooperate, we can see who can last longer in this brinkmanship game - who will blink first.

Anonymous said...

Well, could be the phantom 'paid' applicants creating the illusion of 2 times over-subscription.

Never trust the statistics. They can lie, big time.

Anonymous said...

Red bean, why delete my post? What are you afraid of? If what I said had no substance, it will fall by itself, no need for you to delete my comment.

Let your readers be the judge and don't play the hypocritical god.

Anonymous said...

Or rather...unless you want to play the hypocritical god in your little universe, then be like kiasu TKL and moderate all comments so you don't have to delete them.

Chua Chin Leng aka redbean said...

Hi anonymous, you seem to have a problem with your posts. I never delete any post unless it is outright vulgarity or agitating violence.

Everyone posting here knows that. And for ages, I have never deleted any post.

Try posting again.

Anonymous said...

tsk,tsk,tsk. just because your post disappeared anyhow blame redbean. what did you post that is so sensitive or nasty that you are so paranoid about?

you owe redbean an apology.

Anonymous said...

Redbean had explained without a need for apology.
All that the Poster needs to do is to re-post his/her article(s).

Anonymous said...

Not surprised if the "35%" are mostly from property agents. After all most of these property agents are scums with lots of BS antics up their sleeves.