Executive Condominiums (EC)

Executive condo prices see new highs

Bullish sentiment has led to aggressive bidding by developers, not just for 99-year leasehold government sites for private condominium development but executive condos (EC) as well. This was most evident in the last two tenders of EC sites, which achieved record prices in terms of land bids. Earlier this month, a joint venture between Frasers Centrepoint Ltd and Lum Chang Building Contractors beat 10...

Analysts expect strong interest in executive condo developments

Executive condominiums (ECs) are back in the spotlight, amid a buoyant property market. They come with finishes similar to a private condominium, but are priced more affordably. Analysts expect strong interest for two new developments to be launched at the end of the year. But they also caution buyers against being too hasty. When the Eastvale executive condominium in Pasir Ris was launched, units were...

Govt to build more Executive Condos if there is demand: Mah Bow Tan

The government will build more Executive Condominiums (ECs) to meet the housing needs of what is described as the "sandwiched group". For this year, ECs will make up 10 per cent of about 12,000 new flats to be built. National Development Minister Mah Bow Tan said this on Channel NewsAsia's programme, "Talking Point". He was responding to a question on prices for the market for ECs, which is regarded as...

EC site at Yishun Ave 11 attracts 10 bids

The executive condominium site at Yishun Avenue 11 has attracted 10 bids. MCC Land Singapore put in the top bid of $127.8m for the 99-year leasehold plot. This translates into S$281 per square foot per plot ratio. The second highest bid came from Qingjian Realty, at S$118.8m, followed by Maxdin Pte Ltd which placed a bid of S$117m. The remaining offers range between S$46.8m and S$116m. Real estate...

11 bids received for Executive Condominium site at Compassvale Bow

The Housing and Development Board (HDB) has received 11 bids for the sale of a site in Sengkang at Compassvale Bow. The 19,000 square metre site is designated for an executive condominium under the Design, Build and Sell Scheme (DBSS). The top bid came from Opal Star and Lum Chang Building Contractors who offered S$193 million for the site. That translates to about S$315 per square foot. Opal Star is a...

HDB launches two executive condo sites for sale at Sengkang and Yishun

The Housing and Development Board (HDB) will launch two Executive Condominium (EC) sites for sale on January 15. The sites, located in Sengkang and Yishun, will yield a total of about 900 units. Each site has a lease term of 99 years. The plot of land at Sengkang is located near to Buangkok MRT station with a land area of 19,000 square metres and a maximum permissible gross floor area of 57,000 square...

Exec condo prices have risen 63% in last two years: CB Richard Ellis

The median resale prices of executive condominiums (ECs) have increased 63 per cent in the last two years, riding on the bull-run in the private residential market. Property consultancy CB Richard Ellis said caveats lodged for ECs in the resale market in October this year showed prices at S$519 per square foot. This is 63 per cent higher from the bottom of the market in the third quarter of 2006 when ECs...

No takers for executive condo site in Punggol

IT was the only executive condominium site up for confirmed sale this year. But when the tender closed yesterday at noon, there were no bids received. The 99-year lease site in Punggol - with a land area of 22,497 sqm that can accommodate a 16-storey development - was the fourth EC site put on the market this year by the Government. The other three were on the reserve list, to be launched for tender only...

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