Executive Condominiums remain popular
Executive condominiums have been a fairly popular property type among home buyers in the recent past.
This has come on the back of rising HDB and private condominium prices, leaving fresh graduates, HDB upgraders and those about 5-10 years in the workforce stuck in the middle.
People like ECs because of the public to private conversion that happens after 10 years. In the shorter term, the EC behaves like a public HDB flat, with no subletting or sale allowed in the first 5 years.
We take a look at how ECs have performed in July 2017.
No doubt the standout project is Hundred Palms Residences at Hougang/Serangoon. All the units in this development were sold out within an afternoon given its fantastic location.
The developer likely knew reception would be strong, given the 2,000 e-applications submitted for the 500+ units there, and priced it at the higher end of ECs around Singapore.
Regardless, the project was well received. Buyers paid a median price of S$843 psf, the highest among all ECs sold in the month of July in 2017.
|Project||No of units sold||Median price S$psf|
|Hundred Palms Residences||531||843|
|Signature at Yishun||45||765|
At the lower price end of the spectrum is Signature at Yishun and The Criterion.
Signture at Yishun
Right beside Signature at Yishun is The Criterion which also posted one of the lowest selling prices in July 2017 of S$768 psf.
Long story short, location plays a big factor, regardless of the view one has of a reservoir or beach for that matter.
But for those looking for bang for buck and a lower-than-average purchase price, the Signature at Yishun and Criterion will tick those boxes.
Let us help you if you’re thinking of purchasing a property or are on a househunt. In the meantime, check out the schedule of property events and talks compiled for your convenience.
Somewhere in the middle
For those looking for an EC that is decently located with average prices, Sol Acres provides good value for money.
With a sun-shiny tag line, “365 days of Happiness”, and a cheerful color scheme, Sol Acres does give the other ECs a run for its money.
Sol Acres EC is located in between Keat Hong and Teck Whye LRT station, which are both respectively 2 and 3 stations from Choa Chu Kang MRT station.
Median prices in July 2017 came in at S$794, which was right in the middle for all ECs where there were units sold in the month.
Graphical sale prices
For the month of July 2017, this is how the sale price of EC units look like graphically.
At the higher price end is Hundred Palms residences while Bellewoods is at the lower end.
Sought after property type
ECs continue to be a sought after property type among Singaporeans. The unfortunate thing is that there are very few ECs left for purchase due to the government reducing the number of GLS sites for sale in the second half of 2016 and first half of 2017.
From HDB’s website, the next upcoming EC is at Anchorvale Lane.
The property is already being marketed as Rivercove Residences. Taking reference from the sale prices in July 2017, the likely starting price of Rivercove Residences is likely to be around S$79x to S$8xx.
Further ahead, there is only one EC site put up for sale by HDB named Sumang Walk.
This site will be put up for sale in Dec 2017. For those who are thinking of buying, the winning developer can only start marketing it after 15 months i.e. Feb 2019.
This is a really strange government policy, but who knows what they’re thinking.
In the meantime, those desperate for a house, no luck for you. :'(
If you’re interested in overseas investments, we will have some properties in Thailand coming up at prices of S$1xx (total price)!!
No kidding, S$1xx,xxx in total. Not S$1,xxx,xxx like in Singapore.
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- ECs continue to be favoured by buyers in the market
- Location plays a big factor in popularity. See Hundred Palms Residences for example.
- There’s only 2 more ECs visible in the pipeline, Rivercove Residences and one GLS at Sumang Walk.
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Share with us, do you think ECs are a good form of investment?
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