Singapore Home Sales Face a Billion-Dollar Litmus Test
- Horizon Towers’ home owners put condo on market for third time
- July curbs that raised stamp duty to rest redevelopment deals
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Barely a week into 2019 and Singapore’s residential home sales market is facing a S$1.1 billion ($811 million) litmus test. Horizon Towers, an older-style building near the popular Orchard Road shopping district, has gone on the market for redevelopment a third time after two failed attempts.
The sellers’ collective has retained its reserve price but other groups of homeowners also seeking so-called en-bloc deals are cutting their asking bids in the hope developers will bite.