Despite the traditional lull in buying during the holidays, developers launched more Executive Condominiums (ECs) in December at 747 units compared to the 53 private condos, showed Urban Redevelopment Authority data and reported in the media.
However, the increased number of ECs available failed to stir up enough interest from buyers who were more active in the private market, snapping up 230 apartments, more than the 176 EC units bought.
December’s EC figure was in sharp contrast with November, when developers launched 1,758 units and sold 855 units.
Notably, ECs are a hybrid of private housing which are fully developed by private developers but sold with restrictions imposed by HDB.
Overall, 800 ECs and private homes were launched, while 406 were sold in December.
Muneerah Bee, Senior Journalist at PropertyGuru, edited this story. To contact her about this or other stories email muneerah@propertyguru.com.sg
