The recent Telok Blangah Beacon BTO saw a record high of 49.6 applicants (possibly the highest for 4-room flats in recent years) for each 4-room flat. More than 30 first-timer applicants and 475 second-timer applicants are vying for the limited supply of flats. The SBF exercise also saw higher application rate compared to Nov 2020. This is probably due to the delays in completion of BTO flats and the cash-over-valuation that buyers of resale flats have to fork out since the circuit breaker.
If you can’t wait for many years for BTO to be completed, an Executive Condominium (EC) can be your next dream home with a swimming pool without having to splurge on a private property.
Here are 5 ECs for consideration:
1. Parc Greenwich
Parc Greenwich is an upcoming EC located in the Northeast region of Singapore. Just minutes away from the mature estate of Ang Mo Kio, this development is conveniently situated at the intersection of the idyllic Seletar Hills and the vibrant Fernvale where amenities flourish. Featuring nine blocks of 14-storey buildings, Parc Greenwich has a total of 496 units with a premium façade and full condominium facilities. Another upside to owning an EC is the ability to enjoy up to $30k CPF housing grant!
2. Provence Residence
Provence Residence features five blocks of 13-storey and four blocks of 11-storey buildings which house 413 residential units. A French-inspired design that exudes effortless chic while embracing elegance and simplicity, it offers 3 to 4-bedroom options.
There are plenty of amenities with Sun Plaza, Sembawang Shopping Centre and Canberra Plaza nearby. For nature-lovers or those who want to take a breather, simply visit Canberra Park or Sembawang Park for a brisk walk or exercise.
3. Parc Central Residences
Parc Central Residences draws its inspiration from New York City’s Central Park, providing the serenity of a green oasis in the midst of a contemporary lifestyle. Located in the heartlands of Tampines, this EC has a total of 700 units comprising of 3 to 5-bedroom layout options. Spend an unlimited amount of quality time with family and friends with 88 facilities to choose from all housed within the development.
Great perks come with living in an established neighbourhood with endless amenities like Our Tampines Hub, Tampines 1, Tampines Mall and Century Square all nearby to satisfy your dining, retail and leisure desires. A great place for families with children as there are several reputable schools in the vicinity such as Poi Ching School, St. Hilda’s Primary School, and Junyuan Primary School.
4. Parc Canberra
Parc Canberra is inspired by the Aussie way of life, and located a mere 5 minutes’ walk away from the MRT station. This EC features a total of 496 residential units made up of 3 to 4-bedroom layouts and is nestled in the Northern region of Singapore, at the Sembawang Estate.
Meet your retail and dining needs with options nearby such as Canberra Plaza, Sheng Siong Supermarket, Northpoint, sun Plaza and Chong Pang Market & Food Centre. Surrounding the developments are also an array of schools, healthcare facilities, nature and leisure spots.
5. Piermont Grand
Piermont Grand is a luxury EC in the waterfront town of Punggol at District 19. This development comes with a total of 820 units that comprises of 3 to 5-bedroom options. Despite Punggol being one of the youngest towns in Singapore, there are many amenities and malls nearby such as WaterwayPoint, Punggol Plaza, SAFRA Clubhouse and Marina Country Club. It is just a 3 minutes’ walk to two LRT stations, Sumang and Nibong, and a 10 minutes’ walk to Punggol MRT station.
Tengah GLS site
Mr Lee Sze Teck, Huttons Asia Research Director, commented that the plot of land zoned for EC at Tengah Garden Walk attracted 7 bidders and a top bid of $603 psf ppr. Despite being in an untested location for EC, the site attracted a confident bid and a healthy level of participation. The last sale of land for EC was iNZ Residence at Choa Chu Kang in 2015.
In fact, there has been no EC launch within a 2km radius at all. Hence, there should be a big pool of HDB upgraders who aspire to move up the housing ladder. This is also one of the rare EC sites that is within walking distance to a MRT station.
Demand for ECs has been robust, especially with more couples looking for alternatives in the current situation. Do research the HDB EC eligibility schemes and rules before planning further.
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