Realestate

The Lure of Executive Condos near Punggol – Singapore’s Busy Waterfront Town

My first trip to the river District within my remain in the United kingdom would be a memorable one. I recall sipping coffee within my little apartment that overlooked the river and being enthralled through the rustic charms of nature that spread before my very eyes. What adopted next would be a tinge of despondence, for that lush greeneries and waters were something which I possibly could not enter my beloved home country, Singapore.

Now, fast-forward five years, and you can imagine my excitement once the Singapore government announced the rejuvenation of Punggol because the Waterfront Capital of scotland- the twenty-first century.

Punggol because the Waterfront Capital of scotland- the twenty-first century

In the past an angling village along with a sleepy estate in recent decades, Punggol is presently having a radical transformation into a thrilling waterfront town.

In the centre of their development is really a 4.2 km lengthy waterway that embodies three key elements of design: Eco-friendly, Water and individuals. This impressive stretch of waterway comprises several activities and facilities – from recreational to educational – all connected together through the natural landscape of waters and plush greeneries. It’s no question why Pm Lee Hsien Loong described the waterway like a “eco-friendly lung in the center of our tight city”.

Make no mistake, Punggol isn’t all nearly undulating landscaped hillsides and blue waters. By 2015, you will see a brand new commercial hub and city plaza located right in the MRT station, and also the town is poised to become as large as Ang Mo Kio (an hugely popular mature estate in Singapore).

I strongly think that they are valid good reasons to make an earlier purchase of Punggol as the chance remains.

The Lure of Executive Condos

You may ask – may be the chance to take a position there? Yes, also it is based on the manager Condominiums, fondly known as ‘ECs’.

ECs are members of public housing in Singapore but full-grown and offered by private developers. This can be a government initiative that suits homebuyers who’re ineligible for that cheaper HDB flats but can’t afford prices of non-public property.

Consequently, ECs will always be offered by a significantly lower quantum (usually priced 20-25% lower) when compared with a personal condo concentrating on the same facilities, hence making the previous a lot more affordable.

Additionally, interested EC first time clients who are qualified for that government housing grants (CPF grant) can also enjoy a subsidy as high as SGD $30,000. This relies upon the combined monthly earnings from the buyers. There’s also no resale levy for second time buyers. To educate yourself regarding the eligibility, please make reference to the Housing Development Board’s EC Eligibility.

The most crucial consideration for purchasing ECs could be its strong possibility of capital appreciation. Using a trend analysis, the of ECs have risen significantly through the years since its introduction in to the housing industry. Park Eco-friendly, launched in Apr 03 at $324 psf has become fetching $746 psf, a handsome investment for a lot of. Bishan Loft, launched in 2001 at $421 psf, are now able to fetch above $1000 psf. This means greater than a 100% capital appreciation.

After ten years of possession, the EC is going to be privatized and is offered to people from other countries. The opportunity to target a large market basically implies that there’s a bigger market of potential customers to market the EC to.

ECs within the Punggol Vicinity

Thankfully for that lots who are curious about purchasing Punggol, there’s a couple of approaching EC launches within the next handful of several weeks.

Located in the centre of Punggol is Waterbay EC. The expected launch date is within March 12. Other great investment possibilities in the region include Heron Bay EC and Fernvale EC.

Now, fast-forward another five years, after i am sipping my mug of coffee within the apartment that overlooks natural landscape and blue waters, it won’t be within the United kingdom, however in my beloved home, Singapore.

Property Review – Janice is really a promising agent at Singapore’s leading property agency ERA. She’s passionate and passionate about helping her clients purchase the very best qualities in Singapore.

The executive condo is a type of housing that gained popularity in some parts of the world. This type of housing is somewhere between private housing and public housing. They are the best bet for people searching for a suitable place to make their home.