Executive condominiums are some of the hottest properties on the buying public’s radar this year. These rare hybrid private-public homes straddle the 2 markets in the best way possible. While they begin their journey as public housing, thus allowing qualifying buyers to make use of government subsidies and loans to secure a usually cheaper-yet-comparable alternative to private condominium units, they graduate after 10 years to the private property market and their values more often that not appreciate considerably.
One of the first ECs to be launched this year include Wandervale and The Visionaire. The Parc Life will soon be launched. Even though the nearby 1-327-unit Sol Acres EC might have been competing for buyers , 320 out of the 534-unit Wandervale EC in Choa Chu Kang has been sold. Most of the units popular with HDB ugpraders and young families were the 4-bedders. 82 were sold in total. Prices averaged at $755 psf with a 3-bedroom apartment starting at $655,000 and the larger 4-bedders going for more than $896,000. The Wandervale’s proximity to the Choa Chu Kang MRT station could have added to its popularity.
Besides The Parc Life, other EC launches in the works include Treasure Crest in Sengkang, Northwave in Woodlands and another in Choa Chu Kang.