E-applications for the executive condominium (EC) project Twin Fountains in Woodlands have closed. Close to 1,000 e-applications were received. This translates to a subscription rate of approximately 2.3 times, based on the 418 residential units up for sale. About 3 in 10 of e-applications received were from first-time home buyers. The rest were second-time buyers. CEO of Frasers Centrepoint...
The first executive condominium (EC) project for the year was launched in Woodlands on Wednesday. As of 5pm, the developer of Twin Fountains said it has received 155 online applications for the 418 units on offer. Applications will close on 21 April. The project is being jointly developed by Frasers Centrepoint and Lum Chang. It wasn't the packed sales gallery that some might have expected,...
Some Executive Condominium (EC) developers have seen higher sales despite the government introducing a package of cooling measures on January 12. EC projects like One Canberra and Watercolours, which were launched last year, have seen sales jumped by about five times after the measures kicked in. In the two weekends after the new measures kicked in, One Canberra sold 30 units, up from two to three units...
As public debate raged over the irony of Executive Condominiums (EC) priced at more than S$1.5 million being snapped up by buyers supposedly from the sandwiched class, Minister for National Development Khaw Boon Wan weighed in on the matter on Jan 7 in a blog posting titled "Who gets short-changed?" Although he started out by addressing oversized ECs and their prices, Mr Khaw quickly went on to the...
National Development Minister Khaw Boon Wan said the government will continue to be vigilant of any abuse of the Executive Condominium (EC) housing scheme, and defended the scheme as still being relevant. He was responding to questions raised in Parliament on the affordability of ECs. He said: "It is a wonderful scheme. It protects middle-income Singaporeans from competition and ensures a market-friendly...
The average number of penthouse units in executive condominium (EC) projects has climbed slightly in the past year, according to market watchers. The sale of a luxury penthouse recently has triggered a debate over the role of ECs. Some analysts have told Channel NewsAsia that while ECs are still relevant, some rules could be tweaked. ECs were introduced in 1995 and its objective is to provide...
Property developer Hao Yuan Investment has admitted that the botched proposed sale of its Forestville executive condominium (EC) was due to "some technical issue." In a statement on Wednesday, Hao Yuan said it acknowledged that "there were some technical issues with regards to Forestville Executive Condominium." It added that its "architects are working closely with the relevant authorities to resolve...
Forestville, the latest executive condominium (EC) project at Woodlands, has seen strong demand from eligible home buyers since electronic applications opened on December 21. Close to 800 e-applications have been received over the weekend for the 653-unit Forestville EC project. The e-applications will be open until 10pm on December 26. Balloting will be carried out on 28 December. Hao Yuan Investment...
All 653 units of the Forestville Executive Condominium located at Woodlands Avenue 5/Woodlands Drive 16 will be open for e-application from today until Dec 26. The project, conceptualised by MCC Land, comprises 14 blocks of 13-storey apartments, with 22 two-room, 294 three-room, 96 three-room dual-key, 83 four-room, 93 four-room dual-key, 24 five-room units and 12 five-room dual-key. There will also be 29...
With higher incomes, buyers will likely create more demand for executive condominiums (ECs), according to a report by DTZ. As of Q3 2012, there were 6,500 EC units for sale. This is in addition to the 3,100 units expected to be delivered under the confirmed list of the 1H2013 Government Land Sales (GLS) Programme. Demand is expected to match supply with a larger pool of buyers following the recent...
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