Base on past experience usually tend to stand firm with their asking price. Even during a crisis, this is because they tend to have enough capital to hold out. They might give you a small discount here and there so as to report sales but i wont expect large drop in prices.

If you do not mind, the second hand market usually gets you a better deal than what the developers can offer. Near the end of the last financial crisis, i went to the wharf residence showroom, capital land offered me $1350psf to purchase an apartment. I didnt bite. I sourced around and found a seller selling the same project for $1250psf. So i managed to save $100psf just with some homework. Therefore, i would recommend you to do some research before you make a purchase.