On the surface, it appears that a large number of EC units have been introduced in the last four years. However, there were 22,495 units launched for sale between the first quarter of 2010 and the second quarter of 2017, for an annual average of 2,999 units.
That’s about three times the current EC supply of 1,034 units each year.
Three further EC projects with a total capacity of 1,850 units are already in the pipeline. These three developments, which are located at Tengah Garden Walk, Tampines Street 62, and Yishun Close, will be available for purchase after they have completed their 15-month waiting periods in February 2022, September 2022, and November 2022, respectively.
The provision of deferred payment schemes, a favorable transfer policy, rising level of economic among Singaporeans, a wider pool of Public housing upgraders, a bullish HDB resale market, narrowed availability in the immediate estate, and price increases for resale EC units are all factors that have contributed to the strong demand for ECs in recent years.
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