My initial see to the Lake District during my stay in the UK was a remarkable one. I remember drinking a cup of coffee in my little house that ignored the lake as well as being enthralled by the rustic beauties of nature that spread out before my extremely eyes. What complied with next was a tint of despondence, for the lush greeneries from Singapore condo and waters were something that I can not get in my precious house nation.
Now, fast-forward 5 years according to Avenue South Residence and also you could imagine my exhilaration when the Singapore government announced the renewal of Punggol as the Waterfront Town of the 21st Century
Punggol as the Beachfront Town of the 21st Century
Historically a fishing town as well as a drowsy estate in current years, Punggol is presently enjoying a radical makeover into an exciting waterfront town.
At the heart of its growth is a 4.2 kilometres long waterway that personifies three crucial design aspects: Green, Water as well as People. This remarkable stretch of waterway consists of a broad selection of tasks and facilities – from leisure to academic – all attached together by the all-natural landscape of waters and lavish plants. It is not surprising that why Head of state Lee Hsien Loong defined the waterway as a “environment-friendly lung in the middle of our limited city”.
Make indisputable, Punggol is not all nearly undulating designed hillsides and also blue waters. By 2015, there will certainly be a new industrial hub and also town plaza located right at the MRT terminal, as well as the community is positioned to be as huge as Ang Mo Kio (an immensely preferred fully grown estate in Singapore).
I highly believe that these stand reasons to make an early investment in Punggol while the chance is still there.
The Lure of Exec Condos
I hear you ask – is the chance to spend still there? Yes, as well as it hinges on the Executive Condominiums, lovingly referred to as ‘ECs’.
ECs become part of public housing in Singapore yet fully developed and also marketed by exclusive designers. This is a government initiative that accommodates home-buyers that are disqualified for the cheaper HDB flats yet can not pay for costs of personal property.
Therefore, ECs are constantly provided at a much reduced quantum (typically priced 20-25% lower) as compared to an exclusive Singapore condo with similar centers, therefore making the previous far more budget friendly.
Additionally, interested in Singapore condo first time purchasers who are qualified for the government real estate grants (CPF give) can appreciate a subsidy of up to SGD $30,000. This depends on the mixed regular monthly earnings of the buyers. There is additionally no resale levy for 2nd time buyers. To understand even more regarding the qualification, please refer to the Housing Development Board’s EC Qualification.
One of the most crucial consideration for buying Singapore condo would be its strong potential for resources gratitude. By doing a pattern analysis, the worths of ECs have increased significantly over the years given that its introduction right into the real estate market. Park Green, launched in Apr 03 at $324 psf is now fetching $746 psf, a handsome investment for many. Bishan Loft, launched in 2001 at $421 psf, can currently bring above $1000 psf. This translates to more than a 100% resources appreciation.
After one decade of possession, the EC will be privatized and could be offered to immigrants. The capacity to market to a vast market basically indicates that there is a larger market of prospective customers to market the EC to.
ECs in the Punggol Vicinity
Thankfully for the many that are interested in purchasing Punggol, there are a couple of upcoming EC launches in the next couple of months.
Situated at the heart of Punggol is Waterbay EC. The anticipated launch day is in Oct 12. Various other fantastic financial investment chances in the location include Heron Bay EC as well as Fernvale EC.
Currently, fast-forward one more 5 years, when I am drinking my mug of coffee in the home that neglects the all-natural landscape as well as blue waters, it will certainly not remain in the UK, however in my precious home, Singapore.
Building Testimonial – an appealing agent at Singapore’s condo leading residential or commercial property company AGE. Passionate as well as passionate concerning aiding customers buy the very best buildings in Singapore.