It has been an intriguing first few months of 2021 so far.
From the introduction of the massive Normanton Park , to the uniquely positioned The Reef at King’s Dock – you could say that home buyers have had quite a good spread to choose from so far (adding on to the already flourishing list of new launches).
Now just a week after, Irwell Hill Residences makes its introduction.
What I find really interesting here is the juxtaposition between the two recent launches.
Midtown Modern had a focus on bringing a liveability perspective to the dense and crowded Bugis precinct, with its efficient unit layouts and blanket of greenery. And by and large, I would say they have succeeded on that front.
HDB
While we don’t have data for buyers of new ECs yet, we’re certain that a quick visit to any show flat – along with conversations with some agents – will also reveal the popularity of ECs with HDB upgraders.
You may be wondering why that is, given that private condos tend to have more accessible locations (ECs are often further from MRT stations, barring the occasional exception like Parc Canberra). These are the reasons to consider:
Price
The HDB-like restrictions are immaterial to these buyers
Increasing number of ECs in better locations
1. Price and financing
Let’s get the most obvious factor out of the way: ECs are priced lower. This matters a great deal for HDB upgraders, especially as they need to take bank loans (there’s no HDB loan for ECs).
December new private home sales jump 57.2% as more than 10,000 homes sold in pandemic-hit year Toggle share menu
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December new private home sales jump 57.2% as more than 10,000 homes sold in pandemic-hit year
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December new private home sales jump 57.2% as more than 10,000 homes sold in pandemic-hit year
Private developers sold 1,217 new homes excluding executive condominiums in December last year, tipping new private home sales past the 10,000 mark for the whole of 2020. 2 related media assets (image or videos) available. Click to see the gallery.
15 Jan 2021 03:39PM (Updated:
15 Jan 2021 10:51PM) Share this content
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SINGAPORE: Private developers sold 1,217 new homes excluding executive condominiums in December last year, tipping new private home sales past the 10,000 mark for the whole of 2020.