Developers launch more EC units in Dec compared with private condos but take-up falls

SINGAPORE - Developers launched more executive condominiums (EC) than private apartments in December amid the traditional lull in buying during the holiday season.

They put up 747 EC units for sale, far higher than the 53 private condo units launched, data from the Urban Redevelopment Authority showed on Thursday.

But that did not stir up enough interest as buyers were still more active in the private market, taking up 230 apartments compared with 176 EC units. December's EC scorecard was also paled considerably in comparison with November, when 1,758 units were launched and 855 sold.

ECs are a hybrid of private housing built by developers but sold with Housing Board restrictions.

In total, 406 private homes and ECs were sold while 800 were launched in December.

ocheryl@sph.com.sg