Housing experts say the supply rate of executive condominiums (EC) into the housing market can afford to slow down, as some 20 per cent of units launched as part of seven EC projects this year remain unsold. "I think EC units would have probably hit the ceiling in terms of amount, so I probably think this year we will hit close to about 4,000 being supplied to the market," said Donald Han, special advisor...
Executive Condominiums (EC)
The tender for a land parcel located at Sembawang Crescent/Sembawang Drive closed on Thursday with a top bid of $211.92 million. The site, measuring 21,718.4 square metres, received a total of eight bids. In a statement, the Housing and Development Board (HDB) said the top bid came from boutique developer JBE Holdings, while the second highest bid of S$210.1 million was handed in by FCL Place Pte. Ltd....
Dual-key units in executive condominiums (ECs) are rising in demand among home-seekers. Developer MCC Land said its executive condominium project One Canberra sold out its 95 dual-key apartments within a month, from when the project was launched in April. The developer is now confident that its new project, the EC Forestville, will also do well. The number of dual-key apartments there is twice that of...
All 16 penthouses going at between S$1.3 million and S$1.6 million have been snapped up as sales opened on Friday for yet another Executive Condominium (EC) project in the market. About a third of the units at the Topiary, located along Fernvale Lane, were sold within four hours. Prices start from S$580,000 for a 2-bedroom unit. Its developer Kheng Leong said recent transactions in the area show that...
Stronger than expected bids were submitted for a parcel of land earmarked for executive condo development in the Punggol area. The 99-year leasehold property at Punggol Field Walk/Punggol East received a total of seven bids at the close of the tender on Thursday. Property consultants had forecast between three and six bids. The Urban Redevelopment Authority (URA) said the top bid of S$162.1 million was...
Executive Condominium project CityLife@Tampines has received over 1,600 applications from interested homebuyers, three times the total of number of units available at the development. The 514-unit project is developed by a consortium comprising Amara Holdings, Kay Lim Holdings and SingXpress Land. In a statement issued on Wednesday, the consortium said its dual-key units and larger-sized units drew the...
Competition in the Executive Condominium (EC) market is likely to heat up, say analysts. Four EC sites have already been sold while bids for two sites have opened, indicating that at least six EC projects will be launched in 2013. Popular with developers, ECs like Heron Bay in Hougang which have five-bedroom units sell especially well. Less than a month after its launch last October, all 16 of its...
Analysts have attributed rising Executive Condominium (EC) prices to strong demand and rising quality of EC projects. Prices for ECs have risen by 10 to 20 per cent in the last two years, since the government re-introduced them to increase the supply of flats for middle-income home buyers. "We all recognise that Singaporeans are getting affluent and especially the young, they read a lot and they see a...
National Development Minister Khaw Boon Wan has urged developers of Executive Condominiums (ECs) to be mindful about the intent and spirit of the EC policy. This follows recent media reports of an EC penthouse sold for $1.77 million. In his latest blog post, Mr Khaw said EC developers have flexibility in designing and pricing their units. But he stressed the policy intent of the EC - which is to help...
A subsidiary company of City Developments (CDL) is the top bidder for a site to develop an executive condominium (EC) at Sengkang West Way/Fernvale Link. The land parcel received a total of six bids at the close of tender on Thursday. Verspring Properties has put in the highest bid of S$135 million or S$296 per square foot per plot ratio (psf ppr). This is 0.1 per cent higher than the second highest...