[New Launch] Price gap between ECs and private homes narrows as Coastal Cabana debuts in the East

After 12 Years, Pasir Ris Welcomes a Brand-New Resort-Style Executive Condominium

Coastal Cabana Starts from $1,639 PSF, with Three-Bedders from Approx. $1.44M

A full 12 years after Sea Horizon in 2013, the new-generation resort-style executive condominium (EC) Coastal Cabana is set to debut adjacent to Downtown East in Pasir Ris, anticipated to spark a fresh wave of demand among east-side homebuyers.

The development opens for preview and e-applications on 6 December, with starting prices from $1,639 psf, offering a competitive entry point in the current market.

Resort-Living Concept with 748 Units Ranging from Three- to Five-Bedrooms

Jointly developed by Qingjian Realty, Forsea Holdings, ZACD Group, and Jianan Capital, Coastal Cabana features family-centric layouts offering 748 resort-style residences, ranging from 872 sq ft three-bedroom units to 1,421 sq ft five-bedroom apartments.

Indicative pricing:

Three-bedroom units start from approximately $1.44 million (around $1,649 psf)

A 990 sq ft four-bedroom unit is priced from around $1.62 million ($1,639 psf)

Compared to prevailing private residential prices, ECs in prime East locations continue to hold a distinct price advantage.

Price Gap Narrows Between ECs and Mass-Market Condos, but PSF Disparity Remains at 33%

According to market data, the overall quantum price gap between ECs and mass-market private condos is narrowing.

In 2024:

Median EC transaction price: $1.654 million

Median mass-market private condo price: $1.879 million

The overall price gap stands at just 14%.

However, because EC units are generally more spacious, on a per-square-foot (psf) basis, ECs remain about 33% cheaper than mass-market private condos, retaining a significant value proposition.

The developers noted that the EC framework—bolstered by CPF housing grants, eligibility conditions, and the policy allowing buyers to retain their existing HDB flats until key collection—provides young families and HDB upgraders with greater peace of mind when upgrading.

Tight EC Supply in the East Expected to Drive Strong Demand

In an interview, Qingjian Realty stated that EC supply in the East has long been limited, naturally heightening the project's appeal. They pointed out that EC absorption rates have consistently remained resilient, largely underpinned by tight supply and robust family demand.

Forsea Holdings also highlighted that ECs remain an essential avenue for Singaporeans to upgrade affordably, with the relative value of ECs standing out even more amid broad-based price increases across the private residential market.

Record Land Bid Underscores Bullish Outlook on the East

Notably, the Coastal Cabana site was awarded in August 2023 at a land rate of $729 psf ppr, setting a new record for EC land prices at the time.

While this benchmark was subsequently surpassed by the Tampines Street 95 EC site at $768 psf ppr, it reflects the ongoing appreciation of East-side land values and strong developer confidence in the region's prospects.

Key Dates: Preview, Application, and Launch

Showflat Location: Eunos Avenue 3

Preview & E-Application: 6 December to 21 December

Balloting Results Announcement: 13 January 2025

Official Booking Day: 17 January 2025

Given the 12-year absence of new EC supply in Pasir Ris coupled with strong demand from families and upgraders, Coastal Cabana is widely expected to draw keen interest from buyers.