Privatized executive condominiums or EC are still having a high demand in Singapore with enormous gains regardless of slowing property market. This has been proven by Alan Yap who is the associate director of OrangeTee as he always gets phone inquiries every week for the condominium units that he is offering at Bishan Loft. Recently, Wandervale EC was launched at about $755 psf, with recent news that it was close to $800 psf. And with this same thinking, buyers were also hopeful that there will also be a price appreciation, same goes with more ECs opening on this year’s second quarter, such as The Vales and Parc Life which are actually stylish and sophisticated condominiums.
Ong Kah Seng, R’ST Research director, has mentioned that with $1,000 psf, potential buyers will have a lot of option to choose from, either a 99-year leased condominiums, one best example of this is the High Park Residences which is located in Sengkang, it might not be near the MRT, but the average price will be $970 psf which is a very good deal as the condo offers its potential buyers full facilities that family and friends will surely enjoy. Aside from the High Park Residences, another condo in Yishun Close which is the Symphony Suites have also launched last year at an average of $1,000 psf, which is a great offer that any potential buyer can get, knowing that the condo has a lot of facilities to offer and with tranquil environment.
Mr Ku Swee Yong from Century 21 has also commented that when these two condominiums are completed, the High Park Residences and the Symphony Suites, there will only be 85 years left on their lease 10 years later. And if the units are sold resale, the Symphony Suites price can be as low as $900 psf, and this will put pressure on the prices of other condominiums such as The Criterion EC. With these comments and news about executive condominiums, buyers are always keen to invest, knowing that even the property market is slowing down, further developments will surely make other condominiums be in demand.