Developers of executive condominiums (ECs) are becoming more creative in their efforts to attract buyers amid softer market conditions. Some have introduced new types of facilities in their projects, while others are offering yoga, dance and baking classes. An upcoming EC in Sengkang, called The Vales EC, will offer two-storey villa units. They are a sprawling 159 square metres each and come with...
Executive Condominiums (EC)
Developers of the latest executive condominium (EC) project on the market sold about a quarter of the 480 units on the first day of booking. As of 7pm on Saturday (May 30), buyers picked up about 120 units at Westwood Residences, located at Jurong West. The project was opened for sale on Saturday morning, after developers received some 500 applications to book units over the past two weeks. Prices...
There are 2,446 vacant executive condominium (EC) units in the market, according to first-quarter figures from the Urban and Redevelopment Authority (URA). These are completed units which have not been sold, or units which are purchased but left unoccupied. This could be due to EC buyers needing more time to move in. However, analysts also said that there are buyers who do not intend to live in the...
A 149 square metre (sqm) maisonette at Bishan Street 13 was sold for S$1.05 million last month. It is not the first time resale prices there have crossed the million-dollar mark. Another maisonette in the same estate went for almost S$1.1 million in October last year. While not many executive flats like the one in Bishan have changed hands, housing analysts said prices of executive flats are holding up...
An Executive Condominium site that can yield about 490 residential units was released for sale on Tuesday (May 19). The Housing & Development Board (HDB), as the Government’s land sales agent, released the site under the Confirmed List of 1st Half 2015 Government Land Sales Programme. The site is located at Choa Chu Kang Avenue 5, and has a lease period of 99 years. The closing date for the...
E-applications open on Friday (May 15) for Westwood Residences - a new executive condominium (EC) project in Jurong West which will be officially open for bookings on May 30. The 480-unit development at Westwood Avenue is the first EC to be affected by changes to resale levy rules. The resale levy now applies to EC buyers who had previously bought HDB flats or ECs. Westwood has an indicative pricing...
Prices of executive condominium (EC) units in some non-mature estates are likely to weaken going ahead, according to property analysts. They said this is due to the large volume of units currently available and in the pipeline. The EC scheme was introduced in the late 1990s, and since then, as many as 40 projects have been launched for sale. Official figures from the Urban Redevelopment Authority’s new...
The average size of executive condominium units has become smaller over the years, say property analysts. And the trend is likely to continue as developers struggle between maintaining their bottom lines and keeping units affordable for buyers. Executive condominiums (ECs) were introduced about 20 years ago, and since then, unit sizes have been shrinking. According to property firm SLP International,...
A land parcel for an executive condominium (EC) development attracted relatively large number of responses at the close of the tender on Thursday (Feb 12), but the top bid received was the lowest in three-and-a-half years. The Housing and Development Board (HDB) said it received seven bids for the EC land parcel at Woodlands Avenue 12. Hao Yuan Investment submitted the top bid of S$103.79 million, which...
A land parcel at Anchorvale Crescent for an executive condominium (EC) housing development attracted just three bids at the close of the tender on Tuesday (Jan 20), attesting to weaker sentiment in Singapore's housing market. Sim Lian Land submitted the top bid of S$157.8 million for the 17,450.10 square metre 99-year leasehold site, which can be used to develop an estimated 525 dwelling units, the...