Executive Condominiums have been all the rage in the area property market recently. Basically a combination between a HDB flat as well as a private property, ECs are designed and constructed by private developers, so give you a wide range of amenities comparable to that of condominiums that are routine. On the plus side though, when they fulfill the standards for qualification, they are able to choose to apply for home grants.
It comes as no surprise then that so that you can have the prospect of high-end living while in the exact same time profiting economically in the authorities schemes available to them more property buyers are jumping to lay claim.
What’s startling is the rise in the values of ECs. It falls short of the entire whole demand even though the construction of ECs units slated for end between 2014 and 2016 have caught up with all the amount of present finished supply of ECs from 1999 to 2006. What results is an upward pressure on cost, as may be observed in the event of Sea Horizon in Pasir Ris, deemed to be among the greatest in the marketplace using its start price tag of $800 psf. It is largely due to the demand and supply of EC in each particular area. Like the Sengkang and Punggol are to be seen to have saturation kicked in where the demand is not as popular as before.
On the other hand, Choa Chu Kang and Jurong, in which, EC has been very limited will enjoy a better response since there is lack of supply. Just look at Lakelife EC, they are almost fully sold within weeks.
So Sol Acres in Choa Chu Kang that will be launching in 2015 will probably enjoy the same results?
These tendencies definitely tend not to reveal signals of abating, so long as property buyers continue to possess the understanding that ECs are feasible commodities which garner long term investment. This brings about the inquiry concerning the way this property section is going to be heading. Are they overpriced or is this just a reflection of the existing home situation in Singapore?