More ECs, luxury projects set to be launched in 2H

Over 2,200 units are in the pipeline.

Prospective homebuyers should watch out for the launch of two Executive Condominiums (ECs) and two luxury developments in the remaining months of 2015.

A report by Savills highlighted that a total of 2,216 rooms will be available at these upcoming launches.

Sol Acres, an EC at Choa Chu Kang Grove, will have 1,327 units. It is developed by MCL Land and will receive its temporary occupation permit (TOP) in March 2019.

Another EC, the Signature at Yishun, will be launced by Gee-I Investments in coming months. It will have 525 rooms and has estimated TOP on 25 May 2018.

The luxury residential segment will welcome two new launches in coming months. These are the 190-unit South Beach Residences in Beach Road and the 174-unit Gramercy Park in Grange Road.

“Launches of new projects may remain subdued as developers still hold a cautious outlook on Singapore’s private residential market for 2H/2015. However, such sentiments may make some developers take an opposite tack to launch a phase of their project by taking advantage of the relatively low competition in the market at prices that yield them an acceptable profit margin demand vis-a-vis buyer’s affordability,” Savills said.