Parc Life EC

Despite the overwhelming number of e-applications received, Singapore latest launched Executive Condominiums (ECs) won't guarantee good sales.

However, many experts believe, that with today’s market it is still reasonable if 20 to 30% of the e-applications converts to sales.

For instance, the Jointly developed Parc Life EC with 628 EC units by Keong Hong Holdings and Frasers Centrepoint, sold only 51 units during its launch despite registering over 700 e-applications.

Another is Qingjian Realty’s The Visionaire, which sold 158 out of 632 units during its launch, despite recording over 859 e-applications.

According to Managing Director of KF Property Network, Tan Tee Khoon, during the heyday of Executive Condominiums (EC) launches from year 2011 to 2013, the number of e-applications received by some EC projects was easily surpassed the volume of available units.

Furthermore, Chief Executive of Century 21, Ku Swee Yong considers the sluggish sales “are conclusive evidence that demand is exhausted” for this segment of property. Based on recent measure of EC transactions, Ku Swee Yong believes that, property market needs at least 2 years to fully occupy the remaining unsold units.

 


Written by Siang Teck of Property Review. I can be contacted at [email protected]