Only 16.2 per cent of ECs launched in April sold

This article was originally on GET.com at: Only 16.2 per cent Of ECs Launched In April Sold

We at GET.com recently reported that more ECs and condominiums will be launched in the coming months but are developers in Singapore too optimistic?

At least for the month of April, things have not been looking too rosy for the executive condominium (EC) market here with the two ECs - Parc Life EC and The Visionaire - launched in April.

It was reported that Parc Life EC managed to sell 51 out of 628 units while The Visionaire did better by selling 154 out of 623 units despite the slightly higher median price of $821 per square foot.

For those who haven't heard, some developers have even tapped on more unconventional methods to push sales. For instance, the developer of The Terrace EC doled out a 'buyer-refer-buyer' scheme that rewards an existing and new buyer with a $10,000 cash voucher.

In general, new private home sales dipped 11.6 per cent in the month of April compared to March according to data from Urban Redevelopment Authority.

Nevertheless, developers hinted that demand for certain previously launched projects for both condominiums and ECs remain stable, possibly due to the slashed prices.

Without accounting for transactions of private new homes, sales from those projects launched previously increased from 541 in the month of March to 619 in April.

Keen To Find A Property?

In April, we reported that prices of private properties dipped slightly by 0.7 per cent in Q1 2016. We also recently reported that overall rental prices for condo and HDB fell slightly in April.

Since 60 per cent of developers in Singapore are foreseeing a drop in prices for residential properties, this might also be a good time for you if you're looking to buy a property.

Interested to get a home loan? Comparing the different loans couldn't get any easier with a home loan comparison site like GET.com.

Refinancing your home loan could also be an option. If you're new to the whole realm of home loans, don't forget to check out these 4 things you can consider when comparing home loans. They'll definitely come in handy!