Executive condo (EC)
Canberra Drive executive condo site is first to test market after EC rules tightened
Launch of the tender follows the government rolling out new measures to cool the heated market
Allow flexibility on 10-year minimum occupation period for homeowners with sufficient deterrents
Needs and financial circumstances of owners of HDB Plus and Prime flats and new EC units can change
Developers sell 1,548 new homes in April, chalking up the highest sales in six months
The Outside Central Region accounts for 87.7% of condo and private apartment deals last month
Upcoming EC projects that are exempt from new rules get a ‘bonus’, as buyers steer towards them: analysts
Scrapping of deferred payments could be a major blow to sales on sites sold in the future
Executive condo prices may be dampened by new measures, but don’t expect a sharp fall
Strengthening the housing system helps boost social cohesion
New EC rules to cool prices: MOP doubled to curb flipping, no more deferred payments and more units for first-timers
Land bids, new launch sales expected to slow with first-timer priority raised to 90% of units, extended to 2 years
S$14 million Leedon Residence deal nets S$5.2 million profit, tops Q1 resale gains
ECs among top percentage gainers with profits of 130%-140%; biggest losers suffer losses of up to S$1.9m
Hoi Hup Realty tops 3 bids for Yishun EC site with S$340.9 million or S$732 psf ppr bid
Developers expected to maintain more selective bidding approach as supply pipeline builds
Time to cool EC demand: drop deferred payment scheme, lengthen MOP, tighten resale restrictions
Moderating growth will benefit eligible buyers without access to abundant liquidity
Rivelle Tampines EC sells over 90% of units at average price of S$1,893 psf at launch
Demand comes from a mix of buyers, including a ‘notable proportion’ of young professionals and public housing upgraders
