{"id":62300,"date":"2017-07-31T09:30:11","date_gmt":"2017-07-31T02:30:11","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/ec-sales-likely-to-remain-strong-in-q3\/"},"modified":"2017-07-31T10:53:11","modified_gmt":"2017-07-31T03:53:11","slug":"ec-sales-likely-to-remain-strong-in-q3","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ec-sales-likely-to-remain-strong-in-q3\/","title":{"rendered":"EC sales likely to remain strong in Q3"},"content":{"rendered":"


\nArtist\u2019s impression of Hundred Palms Residences, the latest EC project which was sold out within seven hours.
\nSales of executive condominiums (ECs) increased by 8.5 percent to 2,026 units in H1 2017 from 1,867 units during the same period a year ago, reported the Straits Times, citing data from the Urban Redevelopment Authority (URA).
\nAlthough no new projects were launched in the second quarter, developers sold 954 new units from previous launches. As a result, the supply of unsold and uncompleted ECs dwindled as of 30 June to 2,742 units, or the lowest level in over four years.
\nAccording to property experts, demand for this type of housing is forecasted to remain robust in light of improving market sentiment, limited EC stock and their more affordable cost.
\n\u201cECs tend to be priced 20 to 30 percent lower than a comparable private condo and, hence, would be the more economical option for the middle-income young families,\u201d said Tricia Song, Colliers International\u2019s Research Head for Singapore.
\nHowever, data shows that ECs in northern Singapore are not as sought-after as those in other regions, noted OrangeTee\u2019s Research Head Wong Xian Yang.
\nFor instance, the 497-unit iNz Residence in Choa Chu Kang still had 233 remaining units as of 30 June following its unveiling earlier this year.
\nOn the other hand, buyers snapped up all 531 units at Hundred Palms Residences in Hougang within seven hours after it was launched on 22 July. Thus, there is a high chance that EC sales in Q3 2017 would also be stellar.
\n\u201cThe success of Hundred Palms is not solely due to the lack of upcoming supply of ECs, but it is also attributed to its location, which is within a mature HDB estate and there is a lack of competition of ECs,\u201d explained Edmund Tie and Co\u2019s Research Head Dr Lee Nai Jia.
\nFurthermore, the supply of ECs is expected to be limited as only one site at Sumang Walk yielding a total of 815 units will be offered under the H2 2017 Government Land Sales programme.
\nAnother factor that could bolster EC sales is the soft growth of HDB resale prices, added ZACD Group\u2019s Research Head Nicholas Mak.
\n\u201cWith HDB resale prices staying flat and prices of new condos possibly inching up, I don\u2019t think HDB upgraders will pocket enough to pay $1.5 million or more for a condo\u2026 they may look at ECs, which are more affordable.\u201d
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…EC sales likely to remain strong in Q3<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Artist\u2019s impression of Hundred Palms Residences, the latest EC project which was sold out within...<\/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-62300","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-gcQ","jetpack-related-posts":[{"id":30331,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ecs-the-driving-force-in-new-home-sales\/","url_meta":{"origin":62300,"position":0},"title":"ECs the driving force in new home sales","date":"October 17, 2016","format":false,"excerpt":"\r Treasure Crest EC was the chart-topping project in September, revealed URA data. (Photo: Sim Lian Group) Singapore 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\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":40878,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-private-home-sales-hits-3-year-high\/","url_meta":{"origin":62300,"position":1},"title":"New private home sales hits 3-year high","date":"January 17, 2017","format":false,"excerpt":"\r Singapore developers sold a higher number of units last year due to the more affordable prices at new launches. \u00a0 Sales of new private homes, including executive condominiums (ECs), climbed to a high of 12,408 units compared to the 9,026 and 10,199 units transacted in 2014 and 2015 respectively,\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":62300,"position":2},"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":62300,"position":3},"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":109930,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-sales-jumped-43-5-in-july\/","url_meta":{"origin":62300,"position":4},"title":"Private home sales jumped 43.5% in July","date":"August 16, 2019","format":false,"excerpt":"\r Developers moved 1,178 new private homes, excluding executive condominiums (ECs), in July, up 43.5 percent from the 821 units sold in June. On an annual basis, the figure was 31.7 percent lower compared to the 1,724 units transacted in July 2018, when panic buyers rushed to snap units before\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":84368,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/10-facts-you-should-know-about-ecs\/","url_meta":{"origin":62300,"position":5},"title":"10 facts you should know about ECs","date":"April 2, 2018","format":false,"excerpt":"\r Artist\u2019s impression of Rivercove Residences EC in Sengkang. The 628-unit Rivercove Residences executive condominium (EC) at Anchorvale Lane in Sengkang opened for e-application on Sunday (1 Apr). More than 3,000 people visited the showflat yesterday, which is located at the junction of Anchorvale Lane and Sengkang East Avenue. Developed\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\/62300"}],"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=62300"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/62300\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=62300"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=62300"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=62300"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}