I agree but not all projects. If you are talking about small scale developer - yes. I have ever encounter a project sold at $1300psf-$1400. But subsequently selling at $950-$1000psf. It was snapped up like "hot cakes" despite small unit size with big planter and balcony!
For AS, like I mentioned, it is impossible to get at below $1000 psf from developer due to land cost. I guess the lowest that they will yield is $1100psf. Unless there is another launch nearby selling at a lower psf, there is no way Wingtai will want to lower the price as they are commanding the market at that area currently. There are no competition. It is almost like, you want to stay around this area, pay this price. This is something that a value investors that most of you here will not understand. Therefore, I also have a feeling that this maybe a sellout project as well although I disagree with the current pricing.
Some of you may talk about logic but in real situation, there are no logic to talk about such as "The Sail" can ask at $2000psf!