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Altura executive condo 88% sold in second-timer balloting

By EdgeProp Singapore

/ EdgeProp Singapore |

September 16, 2023 9:06 PM SGT

A total of 95 units were sold when balloting opened for second-timers on Sept 16 (Photo: Qingjian Realty/Santarli Realty)

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Qingjian Realty and Santarli Realty opened for balloting for second-time HDB buyers at Altura executive condo (EC) on Sept 16, and 95 units were sold. This brings the take-up rate to 87.5%, and the average price of units sold was $1,470 psf. Only 45 units remain in the 360-unit EC at Bukit Batok West Avenue 8. The units are primarily four- and five-bedroom plus flexi configurations.

"The strong demand for Altura among second-timers is not unexpected, as executive condos remain a compelling option for HDB upgraders given their more affordable pricing and potential for decent capital appreciation in the future," says Ismail Gafoor, PropNex CEO. "With EC land rate hitting record-high in a recent land tender, some buyers may want to move sooner rather than later, on concerns that prices may inch up further."

Altura is the first EC launched in Bukit Batok since 2001 and was well received by first-time buyers, says Marcus Chu, CEO of ERA Singapore. Altura will be near the future Tengah Integrated Transport Hub and Anglo-Chinese Primary School.

Explore comprehensive data about all ECs, including the average profit at 5 and 10 years

ECs are seeing robust demand from buyers as they are given upfront remission on additional buyer’s stamp duty [ABSD], says Mark Yip, CEO of Huttons Asia.

Check out the latest listings for Altura properties

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