Sales at just recently developed exec condominiums (ECs) have not been leading despite the high number of e-applications obtained, reported Business Times.
However, seven from the 14 EC tasks began since 2014 failed to understand even the very little conversion rate throughout their start weekend break.
The most recent EC to establish was the 628-unit at clement canopy showflat. With each other developed by Keong Hong Holdings as well as Frasers Centrepoint Limited, it specifically offered 51 units during its start last weekend despite recording over 700 e-applications.
On the other hand, the amount of e-applications some EC tasks gotten in 2011 to 2013 easily exceeded the quantity of units used by two times during the industry's prime time, said Handling Supervisor of KF Property Network, Tan Tee Khoon.
Based upon Nicholas Mak, Executive Director of SLP International, the low use up price is because of the significant supply. "It's merely excessive for the industry to digest because amount of time (as) need for ECs in suburbs are usually restricted to upgraders or those that reside in the location."
This is specifically true for growths being created for numerous ECs and also launched at regarding the exact same time, as they're competing for the exact same pool of qualified purchasers who most likely submitted e-applications in the exact same place.
Century 21 Chief Executive Ku Swee Yong takes into consideration the inadequate sales "are conclusive indications that need is exhausted for such a property. Based on the here and now rate of EC trades, he believes the industry needs at least 2 years to entirely eat the remaining unsold units. Upcoming ec consists of Anchorvale crescent Treasure Crest.