Signs of pricing pressure in executive condominium segment

SINGAPORE: E-applications open on Friday (May 15) for Westwood Residences – a new executive condominium (EC) project in Jurong West which will be officially open for bookings on May 30.

The 480-unit development at Westwood Avenue is the first EC to be affected by changes to resale levy rules. The resale levy now applies to EC buyers who had previously bought HDB flats or ECs.

Westwood has an indicative pricing of S$800 per square foot (psf). That is about six per cent lower than what another executive condominium (EC) project in the area – Lake Life EC – went for, S$850psf, when it was launched in November last year.


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