By Nicole Tan | POSTED: 19 Nov 2013 21:56 | CNA

SINGAPORE

More executive condominium (EC) land sites are expected to be offered on the confirmed list as part of the Government Land Sales (GLS) Programme.

Analysts said EC units make up some 2,800 of the 6,000 residential units on the confirmed list for the second half of 2013.

And this proportion is expected to rise to meet firm demand in the EC market.

The EC market has seen healthy demand in recent months as home-buyers, who are generally HDB upgraders or first-time buyers, look for more affordable options.

Experts expect the government to meet this demand in its land sales programme in the first half of 2014.

CBRE Research’s associate director Desmond Sim said: “In terms of ratio, maybe we would see more EC sites in the confirmed list than in the reserved list. But going forward, the general strategy is to put into the reserved list (instead of the) confirmed list… The reserved list is a better gauge of demand.”

– CNA/gn

http://www.channelnewsasia.com/news/business/singapore/more-ec-sites-expected-to/892362.html