Executive Condominiums (ECs) in Singapore – 2010 and 2011

Prior to 2010, the last executive condominium lake grande, or EC, in Singapore was introduced in 2005. Thereafter there was a lull as supply of housing generally speaking caught up with demand. That has a scarcity of housing while in the late 2000’s on the other hand, the Singapore government relaunched the sale of residential web-sites for your slew of new ECs to become designed.

The initial batch launched comprised four ECs found primarily during the North-East and North of Singapore. They have been Esparina Residences, The cover, Prive, and Austville. This information appears to be like at how enthusiastically each and every of these was acquired depending on anecdotal proof in their fee of gross sales.

Esparina Residences @ Buangkok

This was the initial of your 4 to get released, in October 2010, and had several things in its favor, not minimum of which was first mover benefit. Staying the primary, it tapped an keen market that provided numerous who were making use of endlessly and unsuccessfully for BTO after BTO (Built-To-Order public housing flats). This pent up desire was produced inside of a flood, that observed 344 models outside of the 573 out there remaining snapped up in the first day of product sales alone.

In addition to that, Esparina Residences is the closest to an MRT station. Buangkok station is just 3 minutes stroll away. It is actually in near proximity to the 24-hour supermarket and food stuff court docket. The finishes are good. The developer, Frasers Centrepoint, includes a name for top quality, with a lot of high-end projects in its stable.

It absolutely was hardly astonishing thus, that Esparina bought with the swiftest level with the 4, inspite of getting the most costly. The big units sold out in just a couple of months. Merely a handful of two bed room units are remaining, as those who obtain ECs usually seem for at least 3 bedrooms, considering the fact that only family members (not singles) are eligible to order them, and they can not be rented out from the 1st five decades.

Since the last with the three and four bed room models offered out, there are already numerous requests for these device types at Esparina from new potential purchasers.

The cover @ Yishun

Cover is located at Yishun in the north and was launched not extensive soon after Esparina. In contrast to Esparina, it is actually not close to an MRT station. Probably that accounts for why it sold in a significantly slower tempo, even with possessing the benefit of a property (so indispensable to Singaporeans for drying garments, and so neglected by local apartment builders! Singaporeans are only not into making use of a dryer in the event the sunshine is free of charge and very hot).

To this point it still has some large models offered, nevertheless mainly about the mid and lessen floors.

Prive @ Punggol

Prive has turned out being the next most popular following Esparina. Probably simply because it is the next closest to an MRT station. Not only that, it is also within just walking distance to your city centre. Punggol MRT station, as well as in long term, the town centre with its malls and features, are under ten minutes stroll away.

Prive was introduced in December 2010 in a decreased price than Esparina, and equally priced to Cover. In the initially working day of sale alone, it moved 270 units and speedily overtook Canopy’s sales. To this point it’s got bought more than 90% of its 680 units, leaving just a handful of your 2 and 2 + research models, and fewer than ten of your three bedroom models.

Austville @ Sengkang

Austville was the last on the four to be launched, coming out in mid-December 2010. When it is not in the vicinity of an MRT station, it truly is in 3 minutes wander of Kangkar LRT station and five minutes from Rivervale Plaza. Its amenities are designed all around an Australian topic which possible potential buyers on the whole manage to like.

Its amount of income surface to be equivalent to these at Canopy, maybe because demand from customers in Sengkang had been blunted by then. It still has a pretty reasonable choice of models available.

Impending ECs

A fresh slate of ECs is set to get launched this 12 months, this time scattered more afield. Executive condos scheduled for start in the near foreseeable future include things like Belysa EC at Pasir Ris Generate 1 plus the ECs at Bukit Panjang and Tampines (close to Temasek Polytechnic).

Belysa EC, the Pasir Ris EC, would be the initially there soon after much more than 5 decades. It really is quite a little a single, with only about 300+ models. There ought to be a fair bit of need from this region, and with not quite a few units offered, the developer NTUC ChoiceHomes and CEL (responsible also for Prive) shouldn’t have substantially issue relocating its stock. A lot not surprisingly, will count on the pricing.

Close to be introduced will be the EC at Bukit Panjang that will cater to the quite a few during the west of Singapore who may have been waiting around quite a while for one particular. Equally the Tampines EC should appeal to the die-hard Tampines followers from the east.