17 Oct '11, 11am

HDB upgraders setting pace in private property market

HDB upgraders setting pace in private property market

RiverParc Residence in Punggol sold another 90 units in addition to the 393 already sold. -- PHOTO: QING JIAN New private home sales surged 21 per cent with 1,631 homes finding buyers last month. This is more than the 1,351 units sold in August. Including executive condominium units, the number swelled to 2,064 units. Mr Li Hiaw Ho, executive director of CBRE Research, said the high September volume was mainly supported by mass-market and upgrader-type projects, with a total of 433 executive condominium (EC) units sold in September, compared to 290 in August. 'It is likely that the latest Government move to raise the household income ceiling for EC buyers from $10,000 to $12,000 per month has given a boost to the sales momentum,' he added. Arc At Tampines, the first EC project launched after the announcement, registered 233 units sold at a median price of $734 per sq ft (p...

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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