Before 2010, the final executive condominium, or EC, in Singapore was launched in 2005. Thereafter there was a lull as provide of housing in general caught up with demand. Using a shortage of housing inside the late 2000’s even so, the Singapore government relaunched the sale of residential internet sites for any slew of new ECs to be built.
The first batch launched comprised 4 ECs situated mainly within the North-East and North of Singapore. They had been Esparina Residences, The Canopy, Prive, and Austville. This article looks at how enthusiastically every single of those was received depending on anecdotal evidence of their price of sales.
Esparina Residences @ Buangkok
This was the initial from the 4 to become launched, in October 2010, and had quite a few aspects in its favor, not least of which was very first mover advantage. Being the first, it tapped an eager marketplace that incorporated a lot of who had been applying endlessly and unsuccessfully for BTO right after BTO (Built-To-Order public housing flats). This pent up demand was released inside a flood, that saw 344 units out of your 573 offered getting snapped up inside the initially day of sales alone.
On leading of that, Esparina Residences could be the closest to an MRT station. Buangkok station is just 3 minutes walk away. It truly is in close proximity to a 24-hour supermarket and food court. The finishes are nice. The developer, Frasers Centrepoint, features a reputation for high-quality, with a lot of high-end projects in its steady.
It was hardly surprising therefore, that Esparina sold in the fastest rate from the four, inspite of getting essentially the most costly. The big units sold out inside a few months. Only a handful of 2 bedroom units are left, as folks who buy ECs commonly appear for at the very least 3 bedrooms, because only families (not singles) are eligible to buy them, and they can’t be rented out inside the initially 5 years.
Due to the fact the last of the 3 and 4 bedroom units sold out, there happen to be a lot of requests for these unit kinds at Esparina from new prospective purchasers.
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The Canopy @ Yishun
Canopy is positioned at Yishun inside the north and was launched not lengthy following Esparina. Unlike Esparina, it is not close to an MRT station. Perhaps that accounts for why it sold at a substantially slower pace, in spite of obtaining the advantage of a yard (so indispensable to Singaporeans for drying garments, and so overlooked by local condo developers! Singaporeans are just not into applying a dryer when the sun is cost-free and hot). To date it nevertheless has some big units out there, although mainly on the mid and decrease floors.
Prive @ Punggol
Prive has turned out to be the second most popular following Esparina. Possibly since it will be the second closest to an MRT station. Not only that, it can be also within walking distance to a town centre. Punggol MRT station, and in future, the town centre with its malls and amenities, are much less than 10 minutes walk away.
Prive was launched in December 2010 at a lower price tag than Esparina, and similarly priced to Canopy. In the 1st day of sale alone, it moved 270 units and quickly overtook Canopy’s sales. To date it has sold more than 90% of its 680 units, leaving only a handful with the 2 and 2 + study units, and less than 10 in the 3 bedroom units.
Austville @ Sengkang
Austville was the last from the 4 to become launched, coming out in mid-December 2010. When it truly is not near an MRT station, it can be inside 3 minutes stroll of Kangkar LRT station and 5 minutes from Rivervale Plaza. Its facilities are constructed about an Australian theme which prospective buyers in general look to like.
Its rate of sales appear to be related to those at Canopy, perhaps due to the fact demand in Sengkang had been blunted by then. It nonetheless has a pretty fair option of units out there.
Upcoming ECs
A brand new slate of ECs is set to become launched this year, this time scattered further afield. Executive condos scheduled for launch in the near future involve Belysa EC at Pasir Ris Drive 1 and the ECs at Bukit Panjang and Tampines (close to Temasek Polytechnic).
Belysa EC, the Pasir Ris EC, is going to be the first there soon after greater than 5 years. It really is really a small a single, with only about 300+ units. There must be a fair bit of demand from this region, and with not many units readily available, the developer NTUC ChoiceHomes and CEL (responsible also for Prive) ought to not have considerably trouble moving its stock. A lot obviously, will depend on the pricing.
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Subsequent to be launched might be the EC at Bukit Panjang that should cater for the quite a few in the west of Singapore that have been waiting a extended time for one. Similarly the Tampines EC should really appeal to the die-hard Tampines fans inside the east.
Note: The above opinions are the author’s own, determined by anecdotal evidence and private practical experience, and is not meant to be construed as tips for investment or otherwise.