It has been over a decade since a new executive condominium (EC) was launched in Bukit Panjang. Over the years, the demand for ECs has remained consistently high, as these projects remain some of the most sought-after and affordable housing options in Singapore.
Located in the north-western part of Singapore, Bukit Panjang has long been a popular area for ECs. This is due to its close proximity to the city centre, as well as the many amenities and facilities in the area, such as shopping malls, schools, and parks.
However, despite its popularity, the area has not seen a new EC in over a decade. This lack of new supply has led to an increase in demand for existing ECs, as more people are looking to live in Bukit Panjang.
The lack of new supply is also creating competition amongst potential buyers. This is causing prices for existing ECs to rise, as potential buyers compete for the limited number of available units.
As a result of the high demand, some ECs in the area have seen their prices increase by as much as 40% over the last two years. This is significantly higher than the 8.6% increase in private property prices across Singapore during the same period.
The high prices of existing ECs have led to some prospective buyers being unable to purchase a unit. This has resulted in them either looking at other areas or waiting for a new EC to be launched in Bukit Panjang.
The wait for a new EC in Bukit Panjang may soon be over, as the government has announced plans to launch a new EC in the area. The new development is expected to be launched sometime in 2021, and will offer units at more affordable prices.
This will be welcome news to potential buyers who have been waiting for a new EC in Bukit Panjang for over a decade. It will also give them more options when it comes to purchasing an EC, as they will be able to choose from a wide range of different units at different prices.
Overall, the high demand for ECs in Bukit Panjang has been driven by the lack of new supply in the area for over a decade. The recent announcement of a new EC in the area is expected to reduce the demand for existing ECs, as more potential buyers will have access to more affordable units. This, in turn, is expected to lead to a stabilisation of prices in the area.
Senja Close EC demand has been seen to be high over the past decade, as it is the only Executive Condominium (EC) project in Bukit Panjang. With its proximity to the Bukit Panjang MRT Station, Bukit Panjang Plaza, and many other amenities, it is no wonder that Senja Close EC has been so sought after by potential home buyers.
In the past decade, potential home buyers have been eagerly waiting for the launch of a new Executive Condominium in Bukit Panjang. Unfortunately, no new Executive Condominium projects have been launched in the area since Senja Close EC in 2009. As such, the demand for Senja Close EC has been steadily increasing over the past decade.
The demand for Senja Close EC is further fuelled by its attractive location, which is close to many amenities such as the Bukit Panjang Plaza, Bukit Panjang MRT Station, and a variety of shops, restaurants, and other Senja Close EC facilities. For those who prefer to travel via public transport, they will find it convenient to take the Bukit Panjang MRT station to the city centre.
For those interested in the units at Senja Close EC, there are a total of 582 units available. The unit types range from 1-bedroom to 5-bedroom apartments, with sizes ranging from 465 square feet to 1345 square feet. The units come with luxurious fittings and finishes, and are equipped with modern appliances such as air-conditioners and refrigerators.
The prices of the units at Senja Close EC have also been increasing over the years. The median price for the units in Senja Close EC was $1,000 psf in 2009, and this has increased to approximately $1,400 psf in 2020. This is a testament to the increasing demand for Executive Condominiums in Bukit Panjang over the past decade.
To cater to the increasing demand for Executive Condominiums in Bukit Panjang, the government has recently announced plans to launch a new development in the area. This will be the first new Executive Condominium project in the area since 2009, and is expected to launch in 2021. The new development will consist of approximately 1,000 units, and is expected to be popular among potential home buyers.
In conclusion, the demand for Senja Close EC has been high over the past decade due to the fact that no new Executive Condominium projects have been launched in Bukit Panjang since 2009. The attractive location, luxurious fittings and finishes, and increasing prices have further fuelled the demand for Senja Close EC. However, this is expected to change in 2021, when the new development is launched.