Sales of executive condominiums (ECs) are expected to remain healthy, despite a ramped-up supply this year. Some 3,000 units from land sold previously will be released this year, and the government plans to release land for another 5,000 units. Market watchers and developers believe ECs remain an attractive choice for buyers due to the higher income ceiling, from S$10,000 to S$12,000, and substantial...
Executive Condominiums (EC)
More land will be released for the development of executive condominiums (ECs) in 2012. The Ministry of National Development (MND) says that it is prepared to supply land sites for 5,000 EC units next year. This is part of the government's move to help more higher income Singaporeans own private housing by expanding the EC market. The government has taken an earlier step by raising the monthly income...
MCC Land has won the tender to develop an executive condominium project at Yishun Avenue 7 and Canberra Drive. The Housing and Development Board said the tender was awarded at nearly S$214 million. The site on a 99-year lease can yield 725 units. Source : Channel NewsAsia - 31 Oct...
Sales of executive condos (ECs) have picked up after last week’s announcement that the higher income ceiling of S$12,000 would apply to five other EC projects with unsold units. According to Qingjian Realty, over 50 EC units have been snapped up at RiverParc Residence in Punggol since last week, bringing total sales to 468 units (93 percent) of the 504-unit project. It added that most of the buyers...
The revised S$12,000 income ceiling for executive condominiums (EC) will also apply to five projects launched before August 15 this year. The Ministry of National Development said it made this change following public feedback to apply the new ceiling to projects launched before August 15, the date the new ceiling was announced for EC projects. MND said it found the feedback sound as it will enable home...
A Hoi Hup led-consortium sold 220 units at the Arc at Tampines executive condo (EC) project during balloting yesterday, at an average price of S$722 psf. “Arc is the first EC launch to benefit from the higher monthly household income ceiling of S$12,000 compared with S$10,000 previously,” said a market watcher. He noted that the project has seen more units sold than other recently launched EC...
Housing agents said prices for the first executive condominium launched after the income ceiling was raised for households, range from just under S$600,000 to S$1.32 million. Agents said that two-bedroom units, for Arc at Tampines, located at Tampines Avenue 8, are going for between S$741 and S$875 per square foot while the price for three-bedroom units ranges from S$693 to S$810 per square...
Prospective buyers of units at current executive condominiums (EC) projects, are requesting that the recent income ceiling increase, also be applicable to those bought before mid-August. The qualifying income ceiling for ECs was raised from S$10,000 to S$12,000 a month, for projects launched for sale from August 15 this year. Property agent ERA said that after the recent announcement, they received...
The Housing and Development Board (HDB) is putting up two executive condominium (EC) sites at Pasir Ris (Pasir Ris Drive 3 / Pasir Ris Rise) and Yishun (Yishun Avenue 7 / Canberra Drive) for sale. The higher income ceiling of $12,000 and tiered CPF housing grants announced on August 15 will apply to these two projects. The tenders will close at noon on October 11 and October 25 for the Pasir Ris and...
Higher earners who want to buy executive condominiums will be eligible for housing grants - but they will not be as big as what lower earners will get. The monthly household income ceiling has been raised from $10,000 to $12,000. However, National Development Minister Khaw Boon Wan yesterday announced a 'fairer', tiered system to take into account the greater earning power of those who are now...