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  • Writer's pictureKelvin Lim

In the second-time HDB buyer ballot, Altura Executive Condo has successfully sold 88% of its units.

Altura Executive Condo
Altura Executive Condo

Altura executive condo (EC) has achieved an impressive 88% sold rate in the second-time HDB buyer balloting. Qingjian Realty and Santarli Realty opened the ballot on September 16, resulting in the sale of 95 units. The current take-up rate stands at 87.5%, with units selling at an average price of $1,470 per square foot. With only 45 units remaining out of the 360-unit EC at Bukit Batok West Avenue 8, these units primarily feature four- and five-bedroom plus flexi configurations.

Ismail Gafoor, CEO of PropNex, noted that the strong demand from second-time buyers is not surprising, given that executive condos offer an appealing option for HDB upgraders due to their affordability and potential for future capital appreciation. Concerns about rising prices may be driving buyers to make decisions sooner rather than later, particularly with EC land rates hitting record highs in recent tenders.

Altura is the first EC launched in Bukit Batok since 2001 and has received positive feedback from first-time buyers. The development's proximity to the future Tengah Integrated Transport Hub and Anglo-Chinese Primary School further adds to its appeal.

ECs are witnessing robust demand as buyers benefit from upfront remission on additional buyer's stamp duty (ABSD), as highlighted by Mark Yip, CEO of Huttons Asia.

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