{"id":120033,"date":"2021-01-11T04:40:10","date_gmt":"2021-01-10T21:40:10","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/executive-condominium-prices-to-increase-this-year-in-2022\/"},"modified":"2021-02-02T17:52:40","modified_gmt":"2021-02-02T10:52:40","slug":"executive-condominium-prices-to-increase-this-year-in-2022","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/executive-condominium-prices-to-increase-this-year-in-2022\/","title":{"rendered":"Executive condominium prices to increase this year, in 2022"},"content":{"rendered":"


\nThis comes as the\u00a0COVID-19 pandemic caused bottlenecks in the construction supply chain, which led to higher costs.\u00a0
\nERA Realty expects prices of executive condominium (EC) projects to be launched this year and in 2022 to be higher.
\nThis comes as the COVID-19 pandemic caused bottlenecks in the construction supply chain, which led to higher costs. The COVID-related safety measures set to be implemented for construction workers are also anticipated to add to the development costs.
\nERA expects five new EC projects with around 2,800 units in total to be launched in the next three years.
\nRecommended article:\u00a019 New Launch Condos and ECs in 2021: Which to Buy?
\nThe 700-unit Parc Central Residences will be launched first in 2021, followed by Provence Residence at Canberra Crescent.\u00a0
\n\u201cThe prices of four of the five EC projects at which the developers acquired the land varied within a narrow range of $555 to $578 per sq ft per plot ratio (psf ppr), which were similar to the range of land prices of three EC projects that are currently on sale in the market, namely Piermont Grand, Parc Canberra and Ola,\u201d said ERA.
\nPiermont Grand, Parc Canberra and Ola\u2019s average land price is $572 psf ppr, which is similar to the $572 psf ppr average land price for the upcoming Parc Central Residences and Provence Residence EC projects.
\nSuggested read:\u00a07 Executive Condos (ECs) That Are Within Walking Distance (500m) To The MRT
\n\u201cHowever, rising development costs due to the\u00a0COVID-19 pandemic could pressure the developers to launch the new EC projects at higher prices.\u201d
\nERA expects the median prices of upcoming EC projects to be higher than the current price of $1,114 psf transacted at the launched EC projects.
\n\u201cTherefore, homebuyers who are waiting for prices of new EC to decline due to the pandemic would be waiting in vain,\u201d it said.
\nLooking for a property in Singapore? Visit PropertyGuru\u2019s Listings, Project Reviews and Guides.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Executive condominium prices to increase this year, in 2022<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

This comes as the\u00a0COVID-19 pandemic caused bottlenecks in the construction supply chain, which led to...<\/p>\n","protected":false},"author":1,"featured_media":120034,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-120033","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-news"],"jetpack_featured_media_url":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/01\/parc-canberra-gym-ec-executive-condo.jpg?fit=820%2C410&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-ve1","jetpack-related-posts":[{"id":131837,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/copen-grand-ec-fully-sold-hdb-launches-nearly-10000-flats-in-november-sales-exercise-extends-application-period-and-more\/","url_meta":{"origin":120033,"position":0},"title":"Copen Grand EC fully sold, HDB launches nearly 10,000 flats in November sales exercise, extends application period and more","date":"November 28, 2022","format":false,"excerpt":"\r Copen Grand EC fully sold, HDB launches nearly 10,000 flats in November sales exercise, extends application period and more22nd November\u00a0to 28th November 2022 Copen Grand, the first executive condominium (EC) in Tengah Town, has been fully sold after second-time buyers snapped all the remaining 146 units at the 639-unit\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2022\/11\/private-home-singapore.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":63952,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/several-factors-responsible-for-rise-in-ec-sales\/","url_meta":{"origin":120033,"position":1},"title":"Several factors responsible for rise in EC sales","date":"August 18, 2017","format":false,"excerpt":"\r Artist\u2019s impression of Northwave EC in Woodlands. 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