31 Dec '12, 6am

The lure of ECs: By Romesh Navaratnarajah:Demand for executive condominiums ... property market

Dec 31, 2012 - PropertyGuru.com.sg Comment E-mail to friend Bookmark & Share By Romesh Navaratnarajah : Demand for executive condominiums (ECs) has been red hot this year due to their potential price gains and features that rival those of private condominiums, reported The Straits Times . The launch of the S$2.05 million “presidential penthouse suite” at CityLife EC project in Tampines further highlighted the allure of such properties. However, the record-selling prices at new launches have created controversy as to whether buyers of these pricey units should be entitled to HDB grants. Mohamed Ismail, Chief Executive of PropNex, said: “It’s almost a given that if you buy an EC today and wait 10 years, you could make a quarter of a million dollars in profit.” Units at new EC launches are usually priced 20 to 25 percent lower than 99-year leasehold private condos. Only house...

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

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