Qingjian Realty and Santarli Realty started voting to second time HDB buyers in the Altura executive condominium (EC) on the 16th of September which resulted in 95 sales. The take-up rate was raised up to 87.5%, and the average selling price was $1,470 per square foot. There are only 45 units left of the 360-unit EC located at Bukit Batok West Avenue. The units are predominantly four- and five-bedrooms plus flexible configurations.
“The high demand for Altura among second-time buyers is not unusual, considering executive condos are a viable alternative for HDB upgraders because of their affordable prices and the potential for good growth in capital value over the coming years,” says Ismail Gafoor, PropNex CEO. “With EC land rate hitting the record during a recently held land auction some buyers may wish to make their move sooner instead of later, due to fears that prices might go upwards.”
Altura will be the first EC that was launched at Bukit Batok in the year 2001. It was a hit with first-time buyers, according to Marcus Chu, CEO of ERA Singapore. Altura is located near the upcoming Tengah Integrated Transport Hub and Anglo-Chinese Primary School.
ECs are experiencing a strong demand from buyers since they get a free exemption from additional buyer’s stamp duty (ABSD) According to Mark Yip, CEO of Huttons Asia.