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The other school of thought is that of property agents who may have a stronger feel of the market than research analysts. Sales for the first half of 2012 alone shifted 11,928 units. Mass market homes dominated sales in the quarter with 3,737 units or 69.2 per cent of new home sales recorded in the Outside Central Region (OCR). The top selling mass-market projects were Ripple Bay, Flo Residence and Palm Isles shifting 568, 324 and 306 units respectively.
The reason could be as follows: Implementation of parc clematis price the Additional Buyer's Stamp Duties (ABSD) in December 2011 had caused foreigners to stay away from prime areas. Since its implementation, a sharp reduction in foreign demand for private residential properties was observed. This in turn, made properties in the suburban mass market segment more appealing to HDB (Housing Development Board) upgraders who buy with a longer term perspective.