http://www.straitstimes.com/PrimeNew...ry_773817.html
'Second-timers' snap up EC units
Published on Mar 5, 2012
By Daryl Chin
THEY were sold as quickly as they were put up on the selling block.
Within two hours, 182 units at the Twin Waterfalls executive condominium (EC) in Punggol were snapped up yesterday by second-time Housing Board flat applicants.
Even a 1 per cent price hike for pool-view units, announced unexpectedly by its developer Frasers Centrepoint, did not deter buyers.
More than 600 people - from mostly 'second-timer' households - flocked to the showroom yesterday after rules were relaxed last Friday to significantly boost their chances of successfully balloting for a new flat or EC unit.
Sale was also brisk at another new EC development, Tampines Trilliant.
On Saturday, 168 units were set aside for second-timers. About 110 units were sold, and a 'majority' of the buyers were second timers, said a spokesman for developer Sim Lian Group.
Even though it is still early days, some property experts are already predicting that this group of buyers may form the bulk of executive condominium buyers going forward.