Three residential sites for about 850 homes on the market

Three residential sites have been put on the market, with the potential to yield about 850 new homes across various housing styles.

Of the three, the keenest interest will centre on a 2.1 ha executive condominium (EC) site in Woodlands Avenue 5 - likely to feature about 590 units.

This is the first new plot allocated for ECs since the property cooling measures in January, which restricted the size of EC units, a hybrid of public and private housing.

Executive director of property consultancy firm CBRE Joseph Tan said: "The level of interest for this EC site is expected to be fairly keen as ECs are not affected by the anti-speculative property measures, the Additional Buyers' Stamp Duty (ABSD) and the Loan-to-Valuation measures.

He added: "With four more EC sites to be released for the rest of 2013, the Government is showing its commitment to further regulate the pricing of ECs to ensure their prices remain affordable."

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