The property market's woes have spread from the luxury sector to more modestly priced homes on the city fringe as new loan curbs keep buyers in check.
Unsold units are piling up in areas such as Bukit Merah, Kallang and Marine Parade, with developers forced to dangle big discounts to move homes.
However, bucking the trend, UOL Group's 186-unit Seventy St Patrick's in Marine Parade sold about 100 units at an average $1,630 per sq ft at a private launch at the weekend, a spokesman said.
Homes in the area - dubbed the "rest of the central region" (RCR) in industry jargon - are right in the price range that leaves many buyers struggling to raise a mortgage, in the light of new rules that restrict lending.
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