Is it all about price at centale 8?

Is it all about price at centale 8?

Singapore- After hogging the headlines for the wrong reasons, the first weekend of Centrale 8's (picture) walk-in-and-buy phase got off to a slow start. The Sim Lian Group, the developer of the Design, Build and Sell Scheme (DBSS) project in Tampines, had earlier drawn flak for it's initial prices of up to a record S$88,000 for five room flats, before confirming the maximum price at S$778,000. MediaCorp had reported on Saturday that when doors opened for the walk-in phase at 10am, only about 20 people turn up. at the showroom at around 6pm yesterday, around 20 fami-lies were viewing the project. A board, which listed the availability of the project's 708 units, showed around 35 per cent of the flats being sold so far. Some prospective buyers who turning up at the showroom yester-day told MediaCorp that they were there to check if prices have fallen. Mr Zack Henry, 40, said: ''(Cen-trale 8) is near the MRT and Tampines Mall but the flats are expensive. I might as well go for an Executive Condominium (EC).'' Another potential buyer, who only wanted to be known as Mr Wong, said: ''The price is high but it is not a private property. It is a Housing and Development Board (HDB) project... and there are no other amenities. We like the project because of the loca-tion. But if the price remains high, we'll just stay out.'' Property annalysts said they are surprise at the low take-up rate. They added that the negative publicity about the project's high prices may have affected buyers sentiment. Dennis wee Group director Chris koh said: ''The Govement's announcements to review the DBSS Scheme... And Sim Lian's hgh prices could cause some to take a step back and wait and see.'' SLP International head of research Nicholas Mak add: ''Usually during the first week-end when sales are opened to public, there is an overwhelming response in the showroom.'' Mr Mak said that the developer will ''have to find out why sales is slow and address the problem''. He added: ''If sales slow down, it's difficult to regenerate interest in project.'' Mr Mak noted that when faced with slow sales, developers could reduce prices and increase the value of the flats by providing finishes, such as marble instead of tiles. Mr koh pointed out that if Sim Lian decreased its prices now, those who had already bought the units would be affected. ''It also affect s the creditabil-ity of the company- so it's not about cutting prices. It is about winning back the confidence of buyers,'' he added