{"id":63952,"date":"2017-08-18T05:00:58","date_gmt":"2017-08-17T22:00:58","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/several-factors-responsible-for-rise-in-ec-sales\/"},"modified":"2017-08-18T05:09:58","modified_gmt":"2017-08-17T22:09:58","slug":"several-factors-responsible-for-rise-in-ec-sales","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/several-factors-responsible-for-rise-in-ec-sales\/","title":{"rendered":"Several factors responsible for rise in EC sales"},"content":{"rendered":"


\nArtist\u2019s impression of Northwave EC in Woodlands.
\nSales of executive condominium (EC) units picked up in July, buoyed by the quick sell-out of Hundred Palms Residences in Hougang. The project sold all 531 units within just seven hours at a median price of $843 psf.
\n\u201cThe strong performance of Hundred Palms Residences despite its optimistic pricing reveals that there is still demand for new ECs,\u201d said Ong Teck Hui, National Director of Research & Consultancy at JLL.
\nHowever, he cautioned not to draw too many conclusions as there were other factors as well.
\n\u201cThe absence of new EC projects in the vicinity and its location in a mature housing area, transportation accessibility and proximity to amenities contributed to strong demand from buyers,\u201d said Ong.
\nPreviously launched ECs also saw good sales last month including The Visionaire in Sembawang which sold 65 units at a median price of $830 psf. The nearby Parc Life moved 63 units at a median price of $790 psf, while Northwave in Woodlands found buyers for 43 units at a median price of $776 psf.
\nJLL\u2019s analysis of the Urban Redevelopment Authority\u2019s data shows that developers sold 3,004 EC units in the first seven months of 2017, up 11 percent from last year.
\nAccording to analysts, the lower supply of new EC units has driven up demand. There were 1,555 units launched between January and June, 41.5 percent less than a year ago, said Ong.
\nAt the same time, market sentiment has improved significantly since the end of 2016 and this has spilled over to ECs, noted Wong Xian Yang, Head of Research & Consultancy at OrangeTee. \u201cAs such, unsold inventory in the EC market has dwindled significantly,\u201d he said.
\nOng revealed that the number of unsold uncompleted EC units fell by 54 percent to 1,591 units in Q2 2017 from the previous year.
\nMeanwhile, he expects EC prices to increase in the coming months due to the lower supply, but not by much as buyers are still price sensitive.
\nWong thinks that prices could potentially rise by one to five percent on the back of higher land prices and market demand.
\nLooking ahead, Ong noted that there is only one EC project at Anchorvale Lane in Sengkang in the launch pipeline, while the next EC land sale at Sumang Walk in Punggol is slated for December.
\nDevelopers Hoi Hup Realty and Sunway Developments are targeting to launch the Anchorvale Lane project in Q1 2018. Located beside Punggol Reservoir, the 2.1ha site is expected to yield over 600 units.
\nWong reckons that the future project could command launch prices in the range of $810 psf to $840 psf. As for the Sumang Walk site, he expects to see 10 to 20 bids ranging from $340 to $370 psf per plot ratio.
\nGet the latest insights on the EC market from an industry expert at our Guru Talk seminar held at the Northwave showflat in Woodlands this Saturday (19 August). To register, go to www.pgevents.propertyguru.com.sg\/event\/gurutalknorthwaveaug2017\/
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Several factors responsible for rise in EC sales<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Artist\u2019s impression of Northwave EC in Woodlands. Sales of executive condominium (EC) units picked up...<\/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-63952","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-gDu","jetpack-related-posts":[{"id":59054,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/e-applications-open-this-wednesday-for-hundred-palms-residences-ec\/","url_meta":{"origin":63952,"position":0},"title":"E-applications open this Wednesday for Hundred Palms Residences EC","date":"June 27, 2017","format":false,"excerpt":"\r Artist\u2019s impression of Hundred Palms Residences at Yio Chu Kang Road. The executive condominium (EC) market is set to stir back to life with the launch of Hundred Palms Residences at Yio Chu Kang Road. E-applications open this Wednesday and run until 10 July, while sales bookings start on\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":62300,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ec-sales-likely-to-remain-strong-in-q3\/","url_meta":{"origin":63952,"position":1},"title":"EC sales likely to remain strong in Q3","date":"July 31, 2017","format":false,"excerpt":"\r Artist\u2019s impression of Hundred Palms Residences, the latest EC project which was sold out within seven hours. Sales 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\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":61540,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hundred-palms-residences-sold-out-in-one-day\/","url_meta":{"origin":63952,"position":2},"title":"Hundred Palms Residences sold out in one day","date":"July 23, 2017","format":false,"excerpt":"\r The launch of Hundred Palms Residences attracted hundreds of buyers. (Photo: ERA Realty Network) Property developer Hoi Hup Realty sold all 531 units (100 percent) at its Hundred Palms Residences executive condominium (EC) at Yio Chu Kang Road on launch day yesterday (22 July). Hundreds of buyers turned up\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":30331,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ecs-the-driving-force-in-new-home-sales\/","url_meta":{"origin":63952,"position":3},"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":76814,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-sales-hit-4-year-high-in-2017\/","url_meta":{"origin":63952,"position":4},"title":"Private home sales hit 4-year high in 2017","date":"January 16, 2018","format":false,"excerpt":"\r Home sales in Singapore surged to 10,682 units for the whole of 2017. Private home sales in Singapore surged 34 percent to 10,682 units for the whole of 2017 compared to 7,972 units during the previous year, according to initial estimates from the Urban Redevelopment Authority (URA). As a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":83921,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/rivercove-residences-ec-to-open-for-e-application-on-1-april\/","url_meta":{"origin":63952,"position":5},"title":"Rivercove Residences EC to open for e-application on 1 April","date":"March 28, 2018","format":false,"excerpt":"\r Artist\u2019s impression of Rivercove Residences, which offers views of Sungei Punggol. Rivercove Residences, the only new executive condominium (EC) launch in 2018, will open for e-application this Sunday (1 Apr), said developer Hoi Hup Sunway \u2013 a consortium comprising Hoi Hup Realty and Sunway Developments. Located along Anchorvale Lane\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\/63952"}],"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=63952"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/63952\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=63952"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=63952"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=63952"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}