LIVE LIFE ANEW BY THE RIVER – RIVERFRONT NATURE / URBAN CONVENIENCE / RESORT LIVING Comprising 628 units of 3/4/5 bedrooms beautiful functional layouts – Developer: Hoi Hup Sunway Sengkang Pte Ltd. Rivercove Residences EC is located along Anchorvale Lane … Continue reading →
The Visionaire EC is a 99-years leasehold Executive Condominium settled in District 27 at Sembawang Road / Canberra Link. With anticipated completion in mid 2018, it constitutes with 632 units of 16 towers and stands 11 storeys tall. … Continue reading →
🔷 Exquisite Living with only 358 units & 4 units per floor 🔷 Proximity to Admiralty MRT 🔷 Faster connection to the city with enhanced transportation infrastructure 🔷Thomson-East Coast Line & North South Expressway (NSE) 🔷 Retail Malls – Causeway … Continue reading →
Launch of Tender for Reserve List Site at Anchorvale Crescent for Executive Condominium Housing Development
Published Date: 10 Aug 2018
The Housing & Development Board (HDB) has launched the Reserve List site at Anchorvale Crescent for sale by public tender today.
This Land Parcel was made available for sale through the Reserve List on 28 June 2018. HDB announced on 25 July 2018 that it had received an application from a developer for the site to be put up for public tender. The developer committed to a bid price of not less than S$255,000,000 in the tender for the site.
The tender for the land parcel will close at 12 noon on 14 September 2018 (Friday). Any tender below the minimum price of S$255,000,000 will not be accepted.
EXECUTIVE CONDOMINIUM (EC) were introduced in 1996 catering buyers who found private homes too expensive. While they were priced affordably compared to private condominium, the units came with limitations.
For instance, Executive Condominium in Singapore (EC) came with Minimum Occupation Period (MOP) of five years before they can be sold on the open market. Between the 6th & 10th year, only Singaporeans (SC) and Singapore Permanent Residents (SPR) can purchase them, while Foreigners can only do so after the 11th year. Findings show that EC is a practical alternative to private condominium. They also augur well for the EC market and buyers will feel even more confident that EC are reasonable investments to commit to. Upon after 5 years of MOP, prices of EC rose in tandem with private Condominium and even surpassed new EC.
Executive Condominium launched for sale are mostly in North-East, North & Western part of Singapore. Followings are some related articles on EC launches. Hope that these can help you on your decision to select your dream home. Listed here are just some recommendations. You may like to know more of other projects that are not featured here. Just drop in a message or call 96462822. Shall be glad to share with you on your preferred property requested.
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Q : Why has a resale levy been imposed on second-timers purchasing an Executive Condominium (EC) unit from property developers? A : ECs are subject to similar initial eligibility and ownership restrictions as BTO flats. As a result, land earmarked for ECs is priced differently from land set aside for private housing developments, and EC buyers stand to benefit from new EC units being priced lower than comparable private hosing developments. In view of this and to ensure greater parity, second-timers buying EC units are now required to pay a resale levy, similar to second-timers purchasing BTO flats.
The resale levy amount depends on the flat type of the buyers’ first subsidised flat, and the prevailing resale levy policy when the first subsidized flat was sold. This requirement applies to ECs from sites launched for sale to property developers on or after 9 Dec 2013 (including projects whose tenders have not closed).
With the new restrictions set, EC developers can only launch their new EC after 15 months from land award or the completion of foundation works.
WHY ARE EXECUTIVE CONDOMINIUM POPULAR?
A more in-depth analysis –
🔷Additional Buyer’s Stamp Duty (ABSD) is NOT applicable.
🔷Seller’s Stamp Duty (SSD) is NOT applicable for EC as owners have to fulfill 5 years minimum occupation period (MOP).
🔷Deferred payment is available. 20% down payment, 65% upon TOP and final 15% upon legal completion.
🔷There is no restriction to invest in commercial/industrial property as long as there is no residential accommodation component in the commercial unit.
🔷Improved design and features. EC developers are now offering more to attract buyers wishing to upgrade to a ‘subsidized’ private residential lifestyle living.
🔷Great lifestyle (Enjoy the same lifestyle and facilities as other condominiums).
Possible CPF Housing Grant $10,000/$20,000/$30,000 for 1st Timers.
🔷Budget-friendly entry price (Lower quantum compared to mass market condominiums.
🔷Comparable, or better potential future capital appreciation to condominiums (more likely to be sold at a good profit after MOP).
🔷Can be sold under private property status after MOP of 5 years to Singapore Citizens and PRs, and to foreigners after 10 years – hence a larger pool of potential buyers.
🔷Good potential rental yield as design and facilities are similar to any private condominiums.
Parc Life EC is a 99-years leasehold Executive Condominium (EC) located at Sembawang Crescent in District 28. With expected cqompletion in mid 2018, it comprises of 11 towers with 628 units and stands 15 & 16 storeys tall.image Convenient … Continue reading →
SIGNATURE at Yishun is a 99-years leasehold Executive Condominium development located at Yishun Street 51. Launching soon. With expected completion in May 2018, it comprises of 11 towers with estimated 525 units and stands 12 storeys tall. It is just a stone … Continue reading →
THE VALES EXECUTIVE CONDOMINIUM The Vales Executive Condominium is an upcoming new launch EC which is located at Anchorvale Crescent in the Sengkang estate. Situated less than 600m away, The Vales is currently the only EC that is nearest to … Continue reading →
THE TERRACE EXECUTIVE CONDOMINIUM (Punggol) The only EC along the Punggol Waterway. WATERFRONT LIVING… The Terrace Executive Condominium is made up of 13/15/16/17-storey blocks with units mix of 747 residential units. TOP – March 2018. Beautiful Landscape, Quality Fittings & … Continue reading →