New developer sales continue to show strong take up rate as more than 60% of Penrose units was snapped up over the weekend launch. Hong Leong’s head of marketing attributed this stellar performance to their pricing strategy. Singaporean made up the bulk of the buyers, with only 15% by PRs and foreigners. Property experts expects sales to start moderating in the months ahead as local demand ease. However, with the economy slowly opening up, foreign demand might return to Singapore market.
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