A SNAPSHOT OF EXECUTIVE CONDOMINIUM (EC) IN SINGAPORE
“Only The Priviledge Can Apply”
Executive Condomium (EC) at a glance.
EC is a hybrid between public and private housing. ECs are built and designed by private developers which are also similar to Private Condomiums with condo facilities such as swimming pools, tennis courts and BBQ pits. ECs are also a gated community.
- First-time EC buyers can enjoy Government grants of up to S$30,000.
-Second-time EC buyers need to sell their HDB flat within 6 months upon TOP. They need to pay the relevant Resale Levy if they own a subsidized HDB flat. Individual Singapore Citizen can only have one subsidized HDB flat once.
However, there are restrictions in buying a new EC unit. Applicants’ household monthly income is capped at S$14,000. Buyers need to form a family nucleus which must comprise two Singapore Citizens, or a Singapore Citizen and a Singapore Permanent Resident (PR). New EC buyers need to adhere to a Minimum Occupation Period (MOP) of 5 years (semi-privatised) before they can sell their ECs in the open market to Singapore Citizens or PRs only. Only after fulfilling the 10 years MOP, ECs will then be considered fully privatised. Upon the 11th year onwards, ECs can then be sold to foreigners like Private Condominiums.
Capital Gain for ECs
The Topiary @ Fernvale, Sengkang when launched in Dec 2012, #21 unit was sold at $680,156 ($743psf). The same unit @ #21 was transacted in Aug 2016 at $777,000 ($849psf) about 14% increase. Therefore there is a capital gain of about 14%. Do not miss this “golden” opportunity to own a new EC, “ONLY THE PRIVILEDGE CAN BUY”. Upcoming Hundred Palms Residences launch on 28 June 17, it is likely to be the last EC launch for 2017 which is the ONLY City Fringe EC. Another EC launch at Achorevale Lane, Sengkang will be in 2018. Thereafter there will be a wait of about 2 years for another EC launch.
Check it out now ……
“Is Now Or Never” for Upcoming EC Launch
Hundred Palms Residences EC @ Yio Chu Kang
Hundred Palms Residences Executive Condominium (EC) is located at Yio Chu Kang Road and Anchorvale Lane. It is a new launch residential development by Hoi Hup Realty.
Hoi Hup Realty Pte Ltd They are renowned for Hotel development, commercial complex, residential complex like Sophia Hills Residence at Killiney and Royal Square Novena, Sea Esta. They have been conferred many design awards.
Hoi Hup Realty has submitted a top bid of $183.8 million for the plot of land which turns up to be slightly the top band of the anticipated price and analyst predict that the developer selling price should be around in the $800psf range.
Hundred Palms Residences EC is located at the heart of Yio Chu Kang in the district 28 near prestigious Rosyth school. It takes only 15 minutes to get to the Central Business District or Marina Bay.
Just a short distance of 5 minutes from Hundred Palms Residences, you can get all your groceries and also at 5 minutes drive, is located the Hougang Green Shopping Centre, Hougang Plaza, Hougang Mall and myVillage at Serangoon.
Along Yio Chu Kang Road and Hougang St 92. Residents will enjoy the amenities of Hougang, Serangoon and Sengkang. 3 Minutes walk to Hougang One. 5 Minutes walk to Ci Yuan Community Centre. 4 Minutes drive to NEX mall and Serangoon Garden.
It is conveniently linked to the Central Expressway, Tampines Expressway, and Seletar Expressway. Traveling by train is equally convenient since the town is served by Hougang, Buangkok and Kovan MRT stations.
MRT Station Near Hundred Palms Residences
- Hougang MRT Station
Shopping Mall Nearby Hundred Palms Residences
- Hougang Mall
- Hougang 1
Schools Nearby Hundred Palms Residences
- Rosyth School
- Bowen Secondary School
- Xinmin Primary School
- Xinmin Secondary School
- Hougang Primary School
- Hougang Secondary School
Hundred Palms Residences Site Plan
Hundred Palms Residences Yio Chu Kang consist of 2,3,4,5 bedroom units available. Typically, there are 2 types of facing. Hougang Ave 9 facing or Yio Chu Kang Road facing.
Most of the units in the development will be 3 Bedders as it is the most popular layout among first-time buyers and HDB upgraders. However, it is noted that they will be 4 and 5 bedders available as well for buyers with extended family as well as buyers who are looking for a bigger space in their new home.
Please do not hesitate to contact us should you require detailed information on the unit. A full copy of the floorplans is also available upon request. Please read our disclaimer for usage of Hundred Palms EC floorplans.