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...
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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...
Resale prices for HDB flats reached another record high in the fourth quarter of 2012. Flash estimates showed HDB's Resale Price Index rose by 2.5 per cent over the previous quarter. This is the largest growth for 2012 and since the third quarter of 2011, where growth was 3.8 per cent. This brings the total growth for last year to 6.6 per cent, down from the double digit growth of 10.7 per cent in 2011,...
Authorities have announced plans to raise the cash bonuses of two housing monetisation schemes for the elderly in response to public feedback. The latest changes to the Silver Housing Bonus (SHB) and Lease Buyback Scheme (LBS) will see households having to put less of their flat's sale proceeds into their Central Provident Fund (CPF) accounts - a national pension scheme. They will in return receive more...
Property consultancy firm Colliers International has recommended the development of a "retirement village" for the growing population of senior citizens in Singapore. It has also suggested that a ratio/quota system be implemented to allocate Build-to-Order (BTO) flats to singles. Colliers said these are two groups within the larger population that have become significantly prominent over the last 12...
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...
Housing experts say the supply rate of executive condominiums (EC) into the housing market can afford to slow down, as some 20 per cent of units launched as part of seven EC projects this year remain unsold. "I think EC units would have probably hit the ceiling in terms of amount, so I probably think this year we will hit close to about 4,000 being supplied to the market," said Donald Han, special advisor...
Contractors say resources are being stretched following the move to increase the supply of Build-To-Order flats in the last two years. But they said this has driven them to be more productive. The Housing and Development Board (HDB) said it is also working closely with contractors to ensure that they deliver their projects on time, if not earlier. More than 27,000 Build-To-Order flats were launched this...