The Amore EC - the last executive condominium (EC) for which HDB upgraders do not need to pay a resale levy - opened for booking on Saturday (Jan 17). The project has 378 units on offer. As of 3pm, about 70 units have been sold. Channel NewsAsia understands that buyers picked up mostly the three-bedroom units, which make up 65 per cent of units sold. Potential buyers whom Channel NewsAsia spoke to...
Executive Condominiums (EC)
Applications have opened for The Amore, an executive condominium (EC) project at Punggol Central. It is the last EC on the market without a resale levy and the deadline for applications is next Sunday (Dec 21). The 395-unit EC project is expected to be completed in 2018. It is selling at S$780 to S$800 per square foot. Some analysts Channel NewsAsia spoke to say property cooling measures have also...
Sales of executive condominiums (ECs) rose sharply in November even as other transactions in other forms of private property slowed, according to Urban Redevelopment Authority (URA) data released on Monday (Dec 15). A total of 1,758 ECs were launched last month, with 855 units sold. This marked a significant turnaround from October, when 90 ECs were sold with no new units launched. EC projects were...
Some developers say they will hold back on bidding for new executive condominium (EC) sites in the future unless they have very good potential, as the risk profile of ECs has gone up following a series of new restrictions imposed by the Government. According to Evia Real Estate, which is jointly developing the Lake Life EC in Jurong, the segment now poses higher risks to developers. Mr Vincent Ong,...
Lake Life, the second executive condominium (EC) project to go on the market this year, has 546 units on offer. But it has already received more than 1,200 e-applications after just three days of opening. Lake Life is located in the Jurong Lake District. Units there are expected to go at around S$880 to S$890 per square foot. The project is being developed by a consortium led by Singapore property...
The Housing and Development Board (HDB) on Thursday (Oct 2) awarded the land parcel at Sembawang Road and Canberra Link to Qingjian Realty (Residential). The developer's bid of S$229.38 million was chosen by the HDB, over the combined bid of S$208.5 million by Verwood Holdings and TID Residential. The land site is for executive condominium (EC) housing development, and has a lease term of 99 years....
A land parcel at Sembawang Road and Canberra Link for an executive condominium (EC) development has received only two bids at the close of tender on Tuesday (Sep 30). The Housing and Development Board (HDB) said Qingjian Realty (Residential) placed the highest bid of S$229.38 million, equivalent to about S$353 per square foot per plot ratio, while the other offer came from the combined bid of S$208.5...
Bellewoods, the first new executive condominium project in almost a year, opened for online applications on Saturday (Sep 27). The hiatus was because a new rule by the government last year requires developers to wait for 15 months after buying the land or completing foundation works before launching units for sale. More than 200 applications have so far been received for the project in Woodlands. The...
Developers of executive condominiums (ECs) had been enjoying roaring business, up until measures introduced by the Government last year curbed demand and eased the pace of new project launches. The measures included a rule that restricts developers from selling units until 15 months from the award of the sites or after foundation works are completed. In addition, the Mortgage Servicing Ratio (MSR) for...
A land parcel for executive condominium (EC) development at Choa Chu Kang Drive attracted eight bids at the close of its tender on Thursday (Sep 4). The Housing and Development Board (HDB) announced that Sim Lian Land Pte Ltd submitted the highest bid of S$207.4 million. This translates to a unit price of about S$361 per square foot per plot ratio (psf ppr). The second-highest bid was about 2.2 per...