Housing market slowing down on all fronts

[Vseeker]

QC do not apply to Sentosa Cove, so no penalty if decide to keep forever
moreover for SentosaCove, developer can also lease out completed units,
for "normal projects" on mainland Spore, Developers who are "QC holders" are NOT allow to lease out completed units, + must pay QC extension penalties if fail to sell off entire project by the relevant 5~7yrs deadline.

hi Vseeker, how is the 5-7 year deadline measured?... as in is it like 5-7 years after TOP or something?

For residential lands acquired after 08-Dec2011 (cover both GLS & private en bloc)
=> must complete and sell all units within five years or face various penalty eg. various QC extension penalties for each year of extension to sell remaining unsold units and developer may also kenna a 10% ABSD for the acquired land.

for GLS residential lands acquired before Dec2011, most project are allow a 5yrs PCP and further 2 years after TOP to sell all units => so generally had add up to 7 yrs to do so.