Price Gap Closing Between ECs and Private Condos

price-gap-closing-between-ecs-and-private-condos

 

Resale executive condominiums (EC) have similar traits as private condominiums in the market. These include facilities like swimming pool, security guardhouse, gymnasium, BBQ pits, club house and more. As buyers roam around shopping for a private unit to stay, they compare the differences between ECs and private condominiums. Often, the two share similar traits but are being sold are different prices with ECs being more affordable. This is because EC buyers bought their unit at a lower entry price compared to private property owners. In due of this, many buyers have since committed to a EC unit.

This has caused a price gap closing between private condominiums and resale ECs. The price gap between new ECs and new mass-market condos used to be 20 per cent to 25 per cent. Now it has been reduced which translate to high profit for EC owners. Few examples as follows:

 

District 20
(Includes Ang Mo Kio, Bishan)

  • 2013: 9.1% discount
  • 2014: 3% discount

District 27
(Includes Sembawang, Yishun, Admiralty)

  • 2013: 5.7% discount
  • 2014: 1.2% discount

District 22
(Includes Boon Lay, Jurong and Tuas)

  • 2013: 23.3% discount
  • 2014: 22.1% discount

 

With resale EC prices being comparable to resale private prices, what do you think EC buyers today can gain in 5 years especially when the entry price for ECs such as Westwood Residences are much lower?

– ST

 

 

 


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