The wait is over: Home buyers gear up for five new EC launches after 15-month lull

Lake Life led the way after selling 98% of units in 2 days.

Eager home buyers and property upgraders are gearing up for the expected launch of five new executive condominium projects expected within the next few months. The Lake Life EC development in Jurong led the way last weekend after it sold 98% of its 546 units in just two days.

According to Square Foot Research, home buyers can finally look forward to more Executive Condominiums (EC) after a long lull as sites sold last year are finally absolved from the 15-month “waiting period” imposed by the government.

The report notes that up to 5 EC projects are expected to be launched in the coming months. All of these projects were affected by the 15-month imposed on EC sites by the government in January 2013.

“Alas, the long wait is over. Home buyers and public housing upgraders can finally look forward to more choices as a slew of new Executive Condominium (EC) projects are making their way into the property market in the next few months,” noted the report.

These projects include The Terrace and The Amore in Punggol, the Bellewoods in Woodlands, and the Bellewaters in Anchorvale.

The Terrace has 747 units while The Amore has 349 flats. Both are expected to be sold at over $780 psf.
Bellewoods has 561 units and is expected to be sold at around $770 psf. Bellewaters is made up of 651 units and is expected to go for around $750psf. 

“The launch of these new EC may result in renewed interest in older EC projects that were launched earlier if prices remain at a discount to surrounding private residential projects, which is likely the case. With tighter lending rules, consumers are inclined to be more finicky in their purchases and may opt for units that provides better value for their money,” stated Square Foot Research.