The wet market plot of land is quite a distance walk from TQ. IMHO, a wet market has little influence of pricing relative to the economical tsunami that we are experiencing now.
It is not just TQ, all 99yr LH PC has to adjust its price down back to the level of 2006, otherwise, developer untis will remain empty and sub-sales unit will need to be bear by owners themselves.
And you are right, since the Sub-sales unit owners got their units at a low price at ~$500psft, it really make sense they let go around that price and achieve at least a break-even since they are on DPS anyway. IMHO, if they hold it beyond TOP, things will get worse and they may not even achieve break-even.
Just another piece of news, there was a plot of land next to Pungool Park reserved for condo, there was ZERO developer appearing in Dec 08 to bid for the land. You guys tell me what do you think these developers are doing when they know they will fetch a extremely low land price since they are no competition? NO ONE ACTUALLY BIDDED FOR IT!! They definitely know more of the property market than anyone of us in this thread. If you think the price can hold or even go up, I think we will all be SORRY!
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