31 Jul '17, 3am

EC sales likely to remain strong in Q3

Artist’s impression of Hundred Palms Residences, the latest EC project which was sold out within seven hours. Sales of executive condominiums (ECs) increased by 8.5 percent to 2,026 units in H1 2017 from 1,867 units during the same period a year ago, reported the Straits Times , citing data from the Urban Redevelopment Authority (URA). Although no new projects were launched in the second quarter, developers sold 954 new units from previous launches. As a result, the supply of unsold and uncompleted ECs dwindled as of 30 June to 2,742 units, or the lowest level in over four years. According to property experts, demand for this type of housing is forecasted to remain robust in light of improving market sentiment, limited EC stock and their more affordable cost. “ECs tend to be priced 20 to 30 percent lower than a comparable private condo and, hence, would be the more economi...

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

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