After the December 2021 cooling measures, the general consensus was that Executive Condominiums (ECs) would be more attractive. At the time, we broadly agreed with the sentiments (even though it was more to do with rising prices across the board than about cooling measures per se). However, given the latest cooling measures last week – itself partly driven by spiking interest rates – it may be time to review this opinion. Why resale ECs were initially expected to be more attractive While cooling measures bear some relevance, let’s start by saying the main reason then – as well as now – is affordability. The rapid sales of AMO Residence and Lentor Modern have largely cemented the price point of new launch condos at around $2,000 psf. This is over the $2 million mark for family-sized units of 1,000+ sq. ft., and beyond the means of many HDB upgraders. (For those who won’t consider a resale EC, even a new EC is likely the last...