Experts expect EC demand to strengthen - Property Auctions News, Property Investment | PropertyGuru

Experts expect EC demand to strengthen: By Romesh Navaratnarajah: With highe... property market

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 increased income ceiling. Data from the Singapore Department of Statistics (DOS) shows that there are now more potential upgraders with the increase in earnings. Additionally, more working singles now have the buying power to apply for ECs. “Historical data on EC take-up rates provides additional corroboration. ECs have enjoyed an average take-up rate of 72 percent compared to 66 percent for private condominium projects in the Outside Central Region (OCR), and were sold off more ...

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