Singapore Executive Condo
news
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| During the National Day Rally on 29 Aug
2010, PM Lee Hsien Loong announced several measures to ensure
that public housing will always remain within the reach of
Singaporeans who are buying their first home. This will be
achieved by increasing housing supply and dampening demand from
those who are not in urgent need of housing. One of the measures
is to increase the supply of new flats, Design, Build and Sell
Scheme (DBSS) flats, and Executive Condominiums (EC). |
Prior PM Lee announcement, there is a halt in the ECs land sales since 2004, with La Casa being the last EC developed (prior 2010).
With PM Lee announcement, numerous ECs sites had since sold and/or planning to be released.
The ECs that was launched after 2010 are as follows:
- Esparina Residences
- The Canopy
- Austville Residences
- Privé
- Belysa
- River Residence
- Arc @ Tampines
- Blossom Residences
- The Rainforest
- The Tampines Trilliant
- Watercolours
- One Canberra
- Heron Bay
Other than the launched projects, below are the upcoming ECs.
- Fernvale Land (Seng Kang) EC - upcoming in 2012!!!
- Punggol Central EC - upcoming in 2012!!!
- Woodlands EC - upcoming in 2012 !!!
- Tampines Central 7 EC
Click on the image below to view the details of the EC sites sold after 2010.  |
With the many sites sold, it gives interested EC buyers more
options. However, as not all executive condo are launched at the
same time, it becomes an important decision to make whenever a
new executive condo is launch. The common questions will be "Can
I afford it?", "Will the next EC be better priced?", "Is this
location for me?". Knowing that if they miss the initial launch,
they probably will not have a second chance to select their
choice units. Should you have any ECs queries and/or interested with upcoming ECs, please leave us a message with us.
Other than the upcoming ECs, if you like to check on the existing ECs that is already launched, you may register your interest with us too.
Meanwhile, you may like to read through the FAQs below to have a better understanding with ECs.
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Upcoming Execuive Condo 2012
Upcoming executive condo launching in 2012, please register your interest with us to be notified of the launch.
Punggol Central/ Edgefield Plains
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| Site awarded : |
Qingjian Realty (South Pacific) Group Pte Ltd |
| Location : |
Punggol Central/ Edgefield Plains |
| Site Area : |
13,241.80 |
| Estimated Dwelling Units: |
395 |
| Lease Term : |
99 years |
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Fernvale Lane
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| Site awarded : |
Peak Living Pte. Ltd. (Kheng Leong Group) |
| Location : |
Fernvale Lane |
| Site Area : |
21,999.90 |
| Estimated Dwelling Units: |
770 |
| Lease Term : |
99 years |
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Woodlands Avenue 5/ Woodlands Drive 16
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| Site awarded : |
Hao Yuan Investment Pte Ltd |
| Location : |
Woodlands Avenue 5/ Woodlands Drive 16 |
| Site Area : |
25,800.00 |
| Estimated Dwelling Units: |
720 |
| Lease Term : |
99 years |
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Q1) What are the
differences between BTO (Build-to-Order), DBSS (Design, Build
and Sell Scheme) and EC (Executive Condo)?
A1) BTO are flats sold directly by HDB, they are usually priced
below resale HDB market value. DBSS are flats develop by private developer
and the design will be similar to condo but without the
facilities. DBSS flats are usually priced above resale HDB flats
around the same area. EC are similar to private condos except it
can only be purchased by buyers who meet HDB requirements, EC
are usually priced below private condos and above resale HDB
flats around the same area.
Q2) Can I use HDB loan
for EC?
A2) No, you can only use bank loan for EC.
Q3) I am a first timer,
how much do I need to prepare for buying an EC?
A3) For first timer, you can loan up to a maximum of 80% of the
purchased price. You may be eligible for first timer grant of
maximum 30k, which can be used to offset the initial 15%
downpayment. The initial payments to be made are:
i) Option fee (cash only) - 5% of purchase price upon booking.
ii) Stamp duty (cash or cpf) - [ (3% x purchase price) - 5400 ]
iii) Downpayment (cash or cpf) - 15% of purchase price
iv) Remaining 80% will usually be paid by progressive payment or
deferred payment scheme (if available) financed by a bank loan.
The monthly installment can be deducted from CPF (if there are
sufficient CPF) and the amount will be determined by the loan
quantum, loan tenure and interest (always seek the advice of a
banker).
Example, the intital payments for $750,000 EC.
i) Option fee (cash only) - $37,500
ii) Stamp duty (cash or cpf) - $17,100
iii) Downpayment (cash or cpf) - $112,500 ($82,500 if eligible
for 30k first timer grant)
Q4) I am a second timer
and I have an existing housing loan, how much do I need to
prepare for buying an EC?
A4) For buyers with housing loans, they can only loan up to a
maximum of 60% of the purchased price. 10% of the 40%
downpayment have to be in cash. Please check with your preferred bankers on the package they have for second timers.
Q5) I am a second
timer, do I need to pay resale levy for EC?
A5) No, second timer do not need to pay resale levy for buying
an EC. |
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