Developers' EC sales shine in dull August

Singapore

EXECUTIVE condominiums (ECs) turned out to be best selling projects in August amid a lack of new residential project launches, with developers' sales of ECs this year already surpassing that for the whole of last year.

Last month, ECs took up 41 per cent of the total 805 residential units sold by developers in August. Excluding ECs, some 473 private residential units were sold by developers in August, down 8 per cent from the 513 units sold in August last year. This represented a 57 per cent plunge from the active month of July, though the number of units launched (590 units) in August was only 5 per cent fewer than in July.