EC prices to drop with almost 5,000 units set to flood the market this year

Developers’ margins will be squeezed.

Launch prices of Executive Condominium (EC) developments are expected to decline this year, a report by DBS Vickers stated.

DBS noted that nine new launches with a total of 4,900 units will enter the market over 2015, which will further exacerbate the already weak buying sentiment for ECs.

“We believe that the hectic pace of supply entering the market mean that new launch prices are likely to be lower than current,” the report said.

As such, developers could see their margins squeezed to less than 10%. This is especially true for four projects in Sengkang and Sembawang totalling 2,200 units over 2015-2016.

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