{"id":8152,"date":"2016-03-11T12:58:25","date_gmt":"2016-03-11T05:58:25","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/wandervales-sales-outperform-ec-launches-in-2015\/"},"modified":"2016-03-16T21:08:26","modified_gmt":"2016-03-16T14:08:26","slug":"wandervales-sales-outperform-ec-launches-in-2015","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/wandervales-sales-outperform-ec-launches-in-2015\/","title":{"rendered":"Wandervale\u2019s sales outperform EC launches in 2015"},"content":{"rendered":"


\nProspective buyers looking at a model of Wandervale. (Photo: Sim Lian Group)
\nThe 534-unit Wandervale project in Choa Chu Kang, the first executive condominium (EC) to launch in 2016, has beaten market expectations after its developer managed to sell 50 percent of the units last weekend.
\n\u201cDespite tepid market conditions, it was well received by the market,\u201d said Wong Xian Yang, Senior Manager for Research and Consultancy at OrangeTee.
\nThe good performance is unsurprising, given the lower prices of Wandevale\u2019s units. Prices for a three-bedroom apartment start from $655,000. Based on the percentage of units sold in the first month of sales, Wong noted that it has outperformed all the seven EC launches in 2015.
\n\u00a0<\/p>\n

\u00a0
\nHowever, only about 267 units were successfully transacted even though the project was more than 40 percent oversubscribed, receiving a total of 750 e-applications by the end of the application period on 28 February.
\nBut Wong said that \u201ca conversion rate of approximately 30 percent to 40 percent from e-applications to sales is common in the EC segment\u201d.
\nHe added that there could be several reasons for why more sales didn\u2019t materialise, such as buyers changing their minds, their inability to secure an 80 percent loan-to-value (LTV) ratio, and insufficient CPF funds to cover the next 15 percent of progressive payments.
\nDeveloped by Sim Lian Group, Wandervale comprises 130 three-bedroom, 322 three-bedroom premium and 82 four-bedroom units, spread across nine residential blocks. Unit sizes range from 958 sq ft to 1,249 sq ft, while prices average between $750 psf and $770 psf.
\nThe 99-year leasehold EC is expected to be completed by 2019.
\nAs to whether Choa Chu Kang will see an oversupply of EC units with three properties being developed there, namely MCL Land\u2019s Sol Acres, Wandervale and the future launch of Qingjian Realty\u2019s EC at Choa Chu Kang Avenue 5, Wong noted that these projects will inject a total of 2,350 units in the area.
\n\u201cSol Acres sold 259 units during the first month of launch in August 2015, and at least 10 units have been sold each month since. Likewise, we expect a steady flow of sales (for Wandervale) in the coming months.
\n\u201cThe introduction of another EC project by Qingjian may dilute demand, but we believe that the market should be able to absorb the additional supply, assuming that it is priced right.\u201d
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Wandervale\u2019s sales outperform EC launches in 2015<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Prospective buyers looking at a model of Wandervale. (Photo: Sim Lian Group) The 534-unit Wandervale...<\/p>\n","protected":false},"author":1,"featured_media":8153,"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-8152","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-news"],"jetpack_featured_media_url":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2016\/03\/Performance-of-EC-projects.png?fit=499%2C317&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-27u","jetpack-related-posts":[{"id":8223,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/wandervale-ec-more-than-40-oversubscribed\/","url_meta":{"origin":8152,"position":0},"title":"Wandervale EC more than 40% oversubscribed","date":"February 29, 2016","format":false,"excerpt":"\r Prospective buyers at the Wandervale showflat. (Photo: Sim Lian Group) The application period for the Wandervale executive condominium (EC) closed on Sunday (28 Feb) after receiving 750 e-applications, said its developer Sim Lian Group. This means that the 534-unit project is more than 40 percent oversubscribed. OrangeTee and ERA\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8205,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/wandervales-prices-start-from-655000-for-a-3-bedder\/","url_meta":{"origin":8152,"position":1},"title":"Wandervale's prices start from $655,000 for a 3-bedder","date":"March 2, 2016","format":false,"excerpt":"\r The showflat at Wandervale. (Photo: Yasmin Beevi) Sim Lian Group has released prices for the 534-unit Wandervale executive condominium (EC) in Choa Chu Kang, the first major property launch this year. In a statement, the group said prices start from $655,000 for a three-bedroom unit, $753,000 for a three-bedroom\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":20890,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/treasure-crest-ec-over-70-sold\/","url_meta":{"origin":8152,"position":2},"title":"Treasure Crest EC over 70% sold","date":"July 19, 2016","format":false,"excerpt":"\r Crowds at the Treasure Crest sales gallery over the weekend. (Photo: Sim Lian Group) More than 70 percent of the units at the Treasure Crest executive condominium (EC) in Anchorvale Crescent were sold over the weekend, said its developer Sim Lian Group. During the first two days of bookings,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":41826,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/get-the-guru-view-tightened-supply-for-ecs-in-2017\/","url_meta":{"origin":8152,"position":3},"title":"Get the Guru View: Tightened supply for ECs in 2017","date":"January 25, 2017","format":false,"excerpt":"\r Crowd viewing a model of the Treasure Crest EC.\u00a0 2016 was an interesting year for the EC market, with a number of projects doing extremely well due to its sound fundamentals. While the glut of units in the market has been reduced, more time is needed for the current\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2017\/01\/Estimated-number-of-EC-units-completing-and-vacancy-rate-for-ECs-1024x303.jpg?fit=1024%2C303&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":8152,"position":4},"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. Sales 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. \u201cThe strong performance of\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":8152,"position":5},"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. 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