Photo from Qingjian and Santarli

Altura EC receives strong demand from HDB upgraders

Units allocated for second-timers during the launch got sold within the first 3 hours of sales.

Altura EC sold over 60% of its units (220 out of 360) during its launch, receiving strong demand from second-time buyers. The project achieved an average price of $1,433 psf.

The most popular unit types amongst buyers were the three and four-bedroom premium.

According to Huttons Asia, all units allocated to second-time buyers got sold within the first three hours of sales booking for the Altura EC.

"ECs are given upfront remission on ABSD. Hence HDB upgraders will sell their flat upon completion of Altura, which means they can continue to stay in their flat," Huttons commented.

Citing the EC rules, PriopNex said only 30% of units at launch can be allocated for second-time buyers or upgraders.

"For second-timers who did not secure a unit, they can make their bookings for remaining units a month later. We expect that most of the remaining units will likely be sold out when sales bookings are opened to more second-timers later on," Propnex said.

PropNex said buyers were mostly attracted by the development's location.

READ MORE: LIST: Condo launches in August homebuyers should look out for

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