The government has introduced three measures to refine its Executive Condominium Housing Scheme. "The government will implement three measures for Executive Condominium (EC) developments to bring the terms for ECs closer to that for public housing, and help support a stable and sustainable EC market," said a Ministry of National Development (MND) statement on Monday. Reduce EC Cancellation Fee The...
Executive Condominiums (EC)
While the concentration of executive condominiums (ECs) in the north-east region of Punggol and Sengkang has not hurt current demand, analysts warn that buyers may face challenges when they want to resell their units after meeting the minimum occupation period. Eight EC projects currently under construction in the region are expected to be completed within the next five years. This means that close to...
More executive condominium (EC) land sites are expected to be offered on the confirmed list as part of the Government Land Sales (GLS) Programme. Analysts said EC units make up some 2,800 of the 6,000 residential units on the confirmed list for the second half of 2013. And this proportion is expected to rise to meet firm demand in the EC market. The EC market has seen healthy demand in recent...
About one-third of the units at the newly launched Waterwoods executive condominium (EC) project in Punggol have been sold over the weekend. The project comprises a total of 373 units. Among the units sold were five-bedroom units and maisonettes with private lift lobbies. Developer Sing Holdings said more than half of the 48 units with private lift lobbies have been snapped up. Waterwoods is...
There has been strong response for the last executive condominium (EC) project for the year. SkyPark Residences, which was just launched on Saturday, has already received 500 online applications for the 506 units it has on offer. Located in Sembawang, it is the last EC to be launched until the third quarter of next year. Under restrictions introduced in January, developers have to wait 15 months...
Nearly 2,500 executive condominium (EC) units have been sold as at August this year, according to estimates by property agent OrangeTee. The numbers make up almost 80 per cent of new units from five EC projects launched as at August this year. SkyPark Residences at Sembawang will be the seventh and last EC development to be launched this year. Analysts expect SkyPark Residences to be sold between...
An upcoming executive condominium (EC) project Waterwoods in Punggol will offer private lift lobbies for larger units - a feature more commonly associated with upscale apartments. Its developer Sing Holdings said the project will also be the first to include maisonettes in the EC segment. Waterwoods is Sing Holdings' first foray into the executive condominium market and the builder of mid to high-end...
Details of new Housing and Development Board (HDB) schemes to help lower- and lower-middle-income Singaporean families own their homes were unveiled on Aug 27, following the broad measures announced at the National Day Rally. The schemes include additional grants for first-time buyers for up to four-room flats and a step-up grant for those upgrading from two-room to three-room flats. It is heartening to...
Buyers snapped up 76 per cent of the units at City Developments' (CDL) new executive condominium (EC), Lush Acres, over the weekend. CDL said the 380-unit EC project opened for booking on Saturday and 289 units were sold over the weekend. About 37 per cent were eligible first-time buyers. Located in Sengkang, the project consists of three- to five-bedroom apartments of sizes between 915 square...
Land prices of executive condominium (EC) sites have grown at a faster pace compared with private residential plots in the last three years. SLP International Property Consultants says the cost of 99-year leasehold mass-market sites rose 40 percent, slower than the 50 percent increase in land prices EC sites sold under the Government Land Sales (GLS) programme. EVIA Real Estate, one of the consortium...