Executive condo (EC)
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
Hoi Hup, Sunway MCL launch 588-unit Pinery Residences at prices starting from S$2,340 psf
Located in District 18, the mixed-use development is close to Tampines West MRT station
Executive condo policy to be reviewed following affordability concerns: Chee Hong Tat
[SINGAPORE] Singapore is reviewing its executive condominium (EC) policy given concerns over affordability, said National Development Minister Chee Hong Tat on Wednesday (March 4).
January new home sales down 57% yoy at 466 units, with two new projects launched
Including executive condominiums, 990 units are sold that month with 1,534 units launched
Share of loss-making deals in condo resales creeps up in Q4: report
The biggest losers were mainly in the prime Core Central Region, with losses of S$407,531 to S$2.2 million
Timely to consider introducing a prime executive condo model
Build new ECs in choice locations and sell such homes with tighter restrictions
Coastal Cabana EC project sells over 66% of units at average of S$1,734 psf on launch weekend
Figure falls within the S$1,700 to S$1,800 psf range that market watchers earlier expected
Property players call for lower ABSD on foreign buyers, review of EC income and loan caps
Other proposals floated include further tweaks to developers’ sales deadlines, lower consent threshold for en bloc sales
HDB launches EC site at Miltonia Close in Yishun for sale
It will house the first such development beside the residential area set to replace Orchid Country Club
