{"id":30331,"date":"2016-10-17T17:47:02","date_gmt":"2016-10-17T10:47:02","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/ecs-the-driving-force-in-new-home-sales\/"},"modified":"2016-10-17T17:50:53","modified_gmt":"2016-10-17T10:50:53","slug":"ecs-the-driving-force-in-new-home-sales","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ecs-the-driving-force-in-new-home-sales\/","title":{"rendered":"ECs the driving force in new home sales"},"content":{"rendered":"


\nTreasure Crest EC was the chart-topping project in September, revealed URA data. (Photo: Sim Lian Group)
\nSingapore developers sold 769 private housing units in September including executive condominiums (ECs), down 3.7 percent from the 799 units in the previous month, revealed data published on Monday (17 October) by the Urban Redevelopment Authority (URA).
\nYear-on-year, sales rose about 18 percent compared to the 629 units in September 2015.
\nAnalysts explained that developer sales remains muted due to the absence of new launches.
\nThe best-selling private condominium last month was Lake Grande in Jurong West, which was launched in July. The 99-year leasehold project sold 29 units at median price of $1,312 psf.
\nTwo previously launched EC projects sold even more units, helping to push up the sales figure. Treasure Crest in Sengkang sold 38 units at a median price of $746 psf, followed by Sol Acres in Choa Chu Kang, which moved 36 units at a median price of $800 psf.
\n\u201cBuyers continue to find value in the EC market as they will be able to take advantage of an expected long-drawn market recovery to capitalise on selling the EC units after fulfilling the Minimum Occupation Period,\u201d said Desmond Sim, Head, CBRE Research in Singapore and South East Asia.
\nThe most active region was the suburbs, which sold 297 units (74 percent). The balance came from the city fringe, which sold 144 units (20 percent), and the city centre which sold 68 units (six percent).
\nIn the coming months, Ong Teck Hui, National Director of Research & Consultancy at JLL, expects to see a flurry of buying activity with the launch of The Alps Residences (626 units), Forest Woods (519 units), Queens Peak (736 units) and Parc Riviera (752 units).
\n\u201cIt has already been reported that The Alps Residences and Forest Woods found keen interest amongst buyers and achieved good sales take-up,\u201d he said.
\nAnalysts also predict a stronger sales performance this year compared to 2015. \u201cIt is estimated that 7,500 to 8,200 private residential units will be sold by developers in 2016, exceeding the 7,440 units sold last year,\u201d said Ong.
\nIncluding ECs, the figure could surpass 12,000 units, a 20 percent increase from the 10,199 units sold in 2015, added Mohamed Ismail, CEO of PropNex Realty.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…ECs the driving force in new home sales<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Treasure Crest EC was the chart-topping project in September, revealed URA data. (Photo: Sim Lian...<\/p>\n","protected":false},"author":1,"featured_media":0,"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-30331","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-7Td","jetpack-related-posts":[{"id":22951,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/5-best-selling-projects-in-july-2016\/","url_meta":{"origin":30331,"position":0},"title":"5 best-selling projects in July 2016","date":"August 15, 2016","format":false,"excerpt":"\r Artist\u2019s impression of the Treasure Crest EC in Sengkang. Source: Sim Lian Group Singapore property developers sold 1,921 housing units in July, including executive condominiums (ECs), compared to just 768 units in the previous month, data from the Urban Redevelopment Authority (URA) showed. Analysts attributed the surge in transactions\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":26165,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-sales-plunge-56-as-ghost-month-deters-buyers\/","url_meta":{"origin":30331,"position":1},"title":"Private home sales plunge 56% as Ghost Month deters buyers","date":"September 15, 2016","format":false,"excerpt":"\r Crowds at the Treasure Crest showflat during the project\u2019s launch. (Photo: Sim Lian Group) Sales of new private homes, excluding executive condominiums (ECs), fell 56 percent to 473 units in August from the 1,091 units sold in the previous month, according to the Urban Redevelopment Authority\u2019s (URA) data. Analysts\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":110797,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-sales-remain-strong-in-august\/","url_meta":{"origin":30331,"position":2},"title":"Private home sales remain strong in August","date":"September 16, 2019","format":false,"excerpt":"\r Urban Redevelopment Authority\u2019s (URA) Realis data showed that developers sold 1,122 new homes in August, excluding executive condominiums (ECs). Including ECs, developers moved 1,167 units. Private home sales volume appeared to remain robust in August, despite it being a typically slow sales month. \u201cDemand in August seemed to have\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":117166,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-private-homes-sales-spiked-75-5-in-may\/","url_meta":{"origin":30331,"position":3},"title":"New private homes sales spiked 75.5% in May","date":"June 16, 2020","format":false,"excerpt":"\r Including ECs, 509 units were sold in May, up 73.7% month-on-month but down 46.5% year-on-year. Photo: Treasure at Tampines. Despite the closure of showflats due to the government\u2019s circuit breaker measures, sales for new private homes rose 75.5% to 486 units \u2013 excluding executive condominiums (ECs) \u2013 in May\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":30385,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/5-best-selling-projects-in-september-2016\/","url_meta":{"origin":30331,"position":4},"title":"5 best-selling projects in September 2016","date":"October 18, 2016","format":false,"excerpt":"\r The most popular private condo last month was Lake Grande in Jurong West. (Photo: Christopher Chitty) Sales of new private homes, including executive condominiums (ECs), reached 769 units in September, according to data from the Urban Redevelopment Authority (URA). The five chart-topping projects are: 1) Treasure Crest EC (OCR)\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":22935,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/developer-sales-more-than-doubles-in-july\/","url_meta":{"origin":30331,"position":5},"title":"Developer sales more than doubles in July","date":"August 15, 2016","format":false,"excerpt":"\r The Lake Grande project in Jurong sold 464 units last month at a median price of $1,368 psf. (Photo: Christopher Chitty) Sales of new private homes, excluding executive condominiums (ECs), more than doubled to 1,091 units in July, up from 536 units sold in the month before, according to\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/30331"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=30331"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/30331\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=30331"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=30331"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=30331"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}