SIM Lian Group's four-bedroom units at Wandervale - the first executive condominium to be launched this year - have been fully sold out. In addition, about 60 per cent of the 534-unit development in Choa Chu Kang has been booked as at April 19 despite a challenging economic environment, said Sim Lian in an announcement to the Singapore Exchange. Of the 320 units sold to date, approximately half were...
Executive Condominiums (EC)
Demand for Executive Condominiums (EC) has slowed sharply in the past two years, following the introduction of cooling measures by the Government. Demand for the hybrid housing type was red hot in 2012 to 2013, when 14 out of 16 new EC projects were at least 33 per cent sold within the first month of their launches. To cool the EC market, the Government implemented measures in late 2013, including a 30...
Prices of executive condominiums (ECs) do catch up with private condos after the initial five-year minimum occupation period (MOP), and even more so when they are fully privatised 10 years after purchase. A study by OrangeTee has found that the average price gap between new condos and ECs starts at around 20 per cent, due to the sales restrictions that apply to ECs, as well as their lower land and...
DESPITE sluggish EC sales, the top bid for an executive condo site in the Hougang/Yio Chu Kang area has come in towards the high end of market expectations. The 99-year leasehold site is not near any MRT station but is considered attractive as it is nestled in an established HDB estate, which provides a catchment of potential buyers for the future EC project, and is near amenities (including Hougang 1...
The first executive condominium (EC) project to be launched since the Government raised the qualifying income ceiling from S$12,000 to S$14,000, opened for bookings on Saturday (Sep 26). Called Signature at Yishun, the project's developer said about 20 per cent of its units have been sold as of 5pm. "There are buyers whose income is more than S$12,000. The percentage I would estimate is 20 per cent...
More Singaporeans will be able to apply for new Housing and Development Board (HDB) flats and Executive Condominiums (ECs) now that the income ceiling for buyers has been raised to S$12,000 for new HDB flats, and S$14,000 for ECs. While the HDB is expected to be cope with the new demand, industry-watchers said that with close to 3,000 ECs in the market still unsold, this is an opportunity for private...
The response to the latest batch of executive condominium (ECs) projects has been tepid, with about 2,200 EC units remaining on the shelves as of June 2015, the highest in almost a decade. The largest EC development to date, Sol Acres, received 800 e-applications for its 1,327 units when online subscription closed on Sunday (Jul 26), while The Brownstone EC, located along Canberra Drive, sold just under...
Developers of the latest executive condominium (EC) project The Brownstone have received about 640 e-applications since they first opened on Jul 10. City Developments said e-applications for the 638-unit EC will close later on Monday (Jul 20), with booking to start this Saturday. E-applications are typically an indication of interest in an EC project, although applicants are not obliged to buy when...
The latest Executive Condominium (EC) project, located in Canberra Drive in the northern part of Singapore, has received relatively strong response in its opening weekend. The Brownstone received about 300 e-applications over the weekend of Jul 11 and 12, with more than 2,000 visitors at its sales gallery. This was despite a highly competitive market with a number of new EC launches in recent...
The glut in the Executive Condominium (EC) market is set to get worse with new launches adding a wave of supply into a housing segment where take-up has been generally lacklustre. On Thursday (Jul 9), developer City Developments (CDL) said applications for The Brownstone EC at Canberra Drive in Sembawang will open from Friday to Jul 20, with bookings to be conducted on Jul 25. CDL did not reveal...