Each has over 50 remaining units.
The response to the latest batch of executive condominium (ECs) projects has been tepid, with only 1 out of the 11 projects in 2014-2015 has attained a minimum of 33% sold out status within the first month of its launch.
Data from the Urban Redevelopment Authority (URA) show that there were 1,540 vacant EC units as of end 4Q15. Currently, EC vacancy rate stands at 8.4%. Celine Chan, analyst at OrangeTee notes that the increasing number of vacant EC units can be largely attributed to the increasing number of completed supply and the time lag between project completion and owners moving in. However, She adds that it is plausible that some owners are buying ECs purely for investment purposes, and are choosing to leave it empty during the MOP period.
If you think you are one of them, the map above could be useful to you.
Accoring to Chan, ECs are poised to be a good long term investment, given their subsidies and lower prices compared to private condos. Based on historical data, first-hand owners of currently privatised ECs are sitting on considerable gains.
However, she cautioned that not all ECs are equal; depending on the location, available surrounding supply and price, the rate of capital appreciation can differ drastically between projects.
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