The 13 most unprofitable executive condos

Chestervale is the most unprofitable with 60% of units disposed in the secondary market at a loss - check out the others.

According to Square Foot Research, as soon as the EC was introduced into the market in 1996, a total of 13 sites were sold to developers in 2 years, leading to a slew of completions over 1999‐ 2000, much like what the market is experiencing today, except that it stopped at 13 in 1997 at the onset of the Asian Financial Crisis.

Today, we have 13 ECs selling in the primary market, 5 more to launch soon from sites already sold, and 6 more new sites expected to be sold in the second half of the year.

Square Foot Research said that the very first batch of ECs got off a rough start.

"They were launched at the peak of the property market in 1996‐1997. Nearly half of the units were eventually disposed in the secondary market at a loss," it said.

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