About a third of Waterwoods EC units sold

About a third of Waterwoods EC units sold

By Wong Siew Ying
POSTED: 04 Nov 2013 19:14

About one-third of the units at the newly launched Waterwoods executive condominium project in Punggol have been sold over the weekend.

SINGAPORE: About one-third of the units at the newly launched Waterwoods executive condominium (EC) project in Punggol have been sold over the weekend.

The project comprises a total of 373 units.

Among the units sold were five-bedroom units and maisonettes with private lift lobbies.

Developer Sing Holdings said more than half of the 48 units with private lift lobbies have been snapped up.

The average transacted price of units sold at Waterwoods over the weekend was S$800 per square foot.

Meanwhile, the developer of Skypark Residences at Sembawang, JBE Holdings, is optimistic about response to its project -- which will be launched for booking on November 16.

Skypark Residences will be the first EC project to offer a roof-top garden.

Market watchers expect units at Skypark Residences to be priced at an average of S$750 to S$820 per square foot.

Looking ahead, analysts say pent up demand, rising land bids, construction and labour costs are all likely to push EC prices higher.

Nicholas Mak, executive director at SLP International Property Consultants, said: "In the last 12 months, some of the ECs that were launched were priced at about S$750 to S$850 psf.

"And based on some of the land tender for executive condominium (plots) that were closed, I think the developers may be planning to launch at prices that are above S$800 to even as high as S$880 psf."

- CNA/al

- wong chee tat :)