Two new Launches in Sembawang Further Raises EC sales
In the space of just one month, March- April, there has been a sharp drop in sales; from the height of 843 private homes sold in March to 745 in April, a mathematical drop of 100 units. This is the setting for the sale of executive condominiums.
This strong showing of Sturdee Residences shows that there is still hope in horizon for new launch Condo units. There is a very strong indication that if new launches are rolled out to the people, sales will be on the rise again.
The favorable condition in sales in the month of March made more old launches to make another attempt at wooing the customers into buying into what they have for sale.
However, this situation calls for patience, sales are not coming in as expected, the buyers were not just there to grab these units going by the comments of the national director at JLL.
However, it was a different ball game for executive condominiums units. Developers in charge of these sales are pulling through with enviable sales record to show for their marketing efforts-the record in sales backs this up. Units such as the Kingsford WaterBay have attracted many buyers and they sell more than one unit each day.
These new launch condo rose by 12.5% in sales comparing the sales in two back to back launches. There was a marginal increase of 61 units sold in April when compared to the sales index for the month of March.
The question now is; what is the magic wand employed by the EC that makes them keep their heads above the water in this trying period when buyers are not just there to buy?
When we compare the performance in Sembawang of EC units to that of Parc Life; it is observed that EC units sold a whopping 151 units over and above the units presented by Parc Life.
More and more owner occupier buyers are now turning to EC units based on two major factors; their executive condomiums are within the purchasing powers of the buyers bearing in mind the economy.
The other equally strong point of attraction is in the design of their units. It is observed that these units are more spacious when compared to other competing units on sale.
Those two factors explain the edge that executive condominiums had over the other competitors. The economy is uncertain on one hand; the ABSD is a huge factor on buyer’s decision; therefore, caution is the word; except of course if buyers are heavily swayed by other alluring factors as did executive condominiums in the Sol Acres sales.
The rise in sales in Sembawang can be attributed to the fact that executive condominiums is stringing the right cord with the buyers. The sales will naturally follow.