Wednesday, November 25, 2009

Capital Gains to EC owners

CBRE: Executive Condo median prices rise 63 per cent

As posted in www.h88.com.sg on 24 Nov 2009 by John

According to CBRE, the median prices of Executive Condos (EC) have risen a whopping 63% over the past two years. Median resale prices for ECs in 2009 were at $519 psf compared to Q3 2006 when it was at $319 psf. Helped no doubt by the property boom this year. The owners of ECs like La Casa will surely have a very big smile on their faces!

It seems that ECs are worth a second look! There will be two EC plots of land on the confirmed list next year. Read on to find out where they are.

One of them will be in Yishun Avenue 11 (which will surely give The Estuary a huge run for their money) and the other at Buangkok Drive/Compassvale Bow. Keep a look out for tenders coming up in the first half of next year. Find their exact locations.

ECs are a sort of HDB/Condo hybrid, similar to DBSS but with more strings attached. They were built to bridge the gap between condos and HDB during the property boom in 1996 when condo prices were sky high.

CBRE says that the price gap between ECs and mass-market condos is now at 14%.

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