Real News‎ > ‎2012‎ > ‎December 2012‎ > ‎

17 December 2012

17th December, Monday




HUDC flats' median price crosses $1m mark

Source: The Straits Times

For the first time, the median resale price of yet-to-be privatised HUDC apartments has exceeded the $1 million mark - in the third quarter of this year, according to data-crunching firm Singapore Real Estate Exchange, which has tracked official data and transactions from various property firms since 2006.

The median resale price for HUDC apartments in the fourth quarter is now $1.04 million.

This year, 13 units were sold for more than $1 million, compared with only five last year.

HUDC apartments were introduced in the 1970s for middle-income families who could afford bigger flats, but were phased out in 1987 after private property prices fell and drew interest away from them.

In total, the 18 HUDC projects comprised 7,731 units, and were all sold on 99-year leases.

Property analysts said the results were to be expected, but warned buyers about over-extending themselves for property that may not bear profit.


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EC supply can afford to slow, says expert

Source: Today

Some 20 per cent of units launched as part of seven executive condominium (EC) projects this year remain unsold.

Almost 3,000 EC units have been sold, with about 800 units unsold as of October. With three more projects to be launched by the year's end, more than 2,400 units will be available.

The Government also launched six EC land sites in the second half of the year, which should yield over 3,000 units. Five sites slated for launch in the first half of next year should yield another 3,100 units.

At least one housing expert says the supply of ECs can afford to slow down.

"EC units would have probably hit the ceiling in terms of amount, so I think this year we will hit close to about 4,000 being supplied to the market," said an analyst.

Despite this supply, with land costs increasing, the prices of EC units have gone up, although they are still 20 to 30 per cent cheaper than private condominium units, say experts.


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