26 Aug '15, 4am

Higher income ceiling to help ease EC glut - Singapore’s executive condominium (EC) market is expected to receive ...

Comment E-mail to friend Bookmark & Share Singapore’s executive condominium (EC) market is expected to receive a much-needed boost, following the government’s decision to increase the income ceilings from S$12,000 to S$14,000. The EC market recently suffered languishing sales primarily due to waning demand and rising prices. “This is a timely boost to this segment of the market as demand has waned over the recent quarters,” said Desmond Sim, Head, CBRE Research, Singapore and South East Asia, as cited in a report by Singapore Business Review. In fact, the number of unsold EC units rose “to an unprecedented 5,200 units as at July 2015.” “The raised income ceiling will increase the slice of demand pie for the EC market and hopefully improve the take up of this segment,” he said. Specifically, the raised income ceilings will allow another 10 percent of the population to quali...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

Tweets

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While ECs are seeing relatively decent volumes, prices have been on a decline. From their recent peak in Q1 2013, average ...