With the income ceiling raised in 24 August 2015 to $14,000, buyers who were previously not eligible to buy Executive Condominiums (EC) due to income exceeding $12,000 have came back into the EC market.
Weekly sales have been taking place over a good selection of exisiting and newly launched ECs. Buyers now have more choices over the available EC units by different reputable developers over the island.
The recent launch in Yishun, Signature at Yishun by JBE Holdings, has seen a good response of about 20% units were sold during its preview with a 2 Bedroom unit starting from $5xxK. Sales has been moving at a steady pace after the launch as well as other ECs that are already opened for immediate booking.
The EC beside this development, The Criterion by City Developments Ltd, has also received a high interest in application towards its targeted preview on 10 Oct 2015.
These 2 ECs are priced attractively with afforability factor taken into consideration without comprimising the quality in furnishing and fixtures. Such competitive pricing among developers thus creates a beneficial opportunity for eligible buyers to come back into the EC market.
With the potential to fully privatize after the 10th year, the resale potential makes it a highly sought after alternative compared to a private condominium. Of course ECs are only for elibigle buyers so not everyone who can afford are able to own an unit. Apart from pricing, the locations and facilities are also comparable or may surpass those of private condominiums. So if you are eligible, EC is another good option for consideration; only the privilege can buy.
Check out the List of ECs available and open for immediate booking.