Proponents of the current system argue that private previews are a vital tool for developers to manage financial risk and ensure the viability of large-scale projects. By securing early commitments from a core group of investors or partners, developers can demonstrate project demand to financial institutions, which is often a prerequisite for securing construction loans. This stability allows developers to proceed with confidence, ultimately benefiting the broader economy by keeping the construction sector active.
Furthermore, supporters emphasize that these sales are not inherently exclusionary but rather a reflection of long-standing business relationships. Developers often reward loyal clients or business associates who have supported their previous projects. This practice is common in many industries and is seen as a legitimate way to manage customer relations and reward repeat business. Restricting these activities could inadvertently stifle the developer's ability to operate efficiently in a high-cost environment.
From a market perspective, these early sales help set a baseline for pricing, which provides clarity to the rest of the market. When a project launches with a strong foundation of initial sales, it signals confidence to the public. Rather than viewing these sales as a barrier, supporters suggest that they are a natural component of a free-market system where developers must have the autonomy to tailor their sales strategies to meet specific project needs.
Ultimately, the industry maintains that the current framework allows for the necessary agility to navigate market fluctuations. By allowing developers to manage their own sales processes, the system ensures that projects remain financially feasible, which in turn supports the steady supply of new housing in Singapore.