Singapore Property – Despite the decreasing percentage of monthly sales, EC developers are still hopeful to earn more profits this year. According to the latest statistics in January 2016 conducted by URA, The Edge Property, more new ECs are being sold by various developers in Singapore. There is a 16% drop as compared to the last December’s record.
Based on reports, the Poiz Residences by MCC Land still maintained its top spot with regards to sales volume. The MCC Land sold 26 units this January with a median price of $1,416 per square feet (psf). This was followed by the Kingsford Hillview Peak selling out 21 units at a median price of $1,277 per square feet (psf). Sims Urban Oasis also sold 21 units at a median price of $1,405 per square feet (psf).
The Botanique at Bartley also earned its 4th spot as one of the top performing development firms in Singapore, selling out 19 units at a median price of $1,319 per square feet (psf). Holding its 5th spot is The Panorama which sold out 14 units with $1,259 median price.
In December 2015, executive condominium units are slowing increasing its trend which actually affected the total sales of top EC developers; a whopping 26% of increase from December 2015 to January 2016. Base on the January 2016 record, there were 156 executive condominiums sold as compared to December 2015, which only sold 124 units.
What is more, the Amore sold 24 units in January 2016 with a median price of $799 per square feet (psf). Tailing the Amore in Punggol is The Brownstone which sold 21 units at a median price of 810 per square feet (psf). This was followed by The Vales at Anchorvale Crescent selling out only 16 units at median price of $803 per square feet (psf).
Bellewaters, which is the neighboring EC of The Vales, also ranked its 4th place selling out 14 units at $798 median price in January 2016. The Sol Acres never missed the 5th place; which sold out 13 units at a median price of $806 per square feet (psf).
According to several economic experts, the EC continues losing its trend because of its stiff competition. Other factors that are also affecting the fall of EC sales are due to price inflation where there are only few demands of prospective EC homeowners.
On the other hand, many financial analysts say that this can be resolved if majority of the EC developers make affordable and tempting offers to negotiate potential buyers. There are also several financial institutions that are offering home financing and loans for EC buyers. An ongoing discussion has been made between the EC developers and these financing companies in order to increase sales in midyear of 2016.
For more new launches please visit Lake Grande @ Lakeside (another residential development in District 22 by MCL Land), Stars of Kovan (a mixed development in District 19 by Cheung Kong), Sturdee Residence (a high-rise residential development in District 8) and not forgetting The Asana (a Freehold residential development in District 10).