ECs APPRECIATE MORE IN PRICES THAN HDBs
Piermont Grand, the highest anticipated Executive Condominium (EC) in Punggol, Sumang Walk, is expected to launch with a per square foot range of S$ 945 – S$ 1,052 psf, with an average of S$ 1,100 psf. It is located along Sumang Walk, an extension of Punggol Central, is bounded by Sumang Walk, Sumang Link and Punggol Way. It is located in District 19 where there are future plans turning Punggol, into a Digital District, along the North Coast Innovation Corridor as well as fostering industry-academia collaboration at the new Singapore Institute of Technology Campus.
Piermont Grand will be constructed with full facilities, modern fittings, elegant furnishings, and dashing interior and exterior decors. Comprises of 7 blocks of 16 storeys and 4 blocks of 15 storeys towers, with a total of 820 apartments, the unit types available in Piermont Grand EC range from 2 bedrooms to 5 bedrooms of different layouts, catering for young and growing families. The units will have very roomy layouts which will create a perfect ambience many years for the residents. Young couples and families will like this development as has classy interiors which wil be blend well with good features and present a smart-vibre living.
Why I should buy an EC if I can get a resale HDB or BTO and pay lesser installment per month?
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ECs ARE A GOOD ASSET TO START WITH TO BUILD YOUR WEALTH
WHY BUY PIERMONT GRAND EC
1) Prices in District 19 has been quite flat for the past years
District 19 encompasses Punggol, Sengkang, Serangoon Gardens and Hougang.
In October 2013 it was transacting around S$1250 psf and in September 2018 it has risen to an average of S$1,268 psf.
2) Government Master Plan for Punggol Digital District
Punggol itself is picking up steam, as a desirable location. Once known for affordable housing and relative seclusion, it’s now undergoing the same kind of transformation we once saw in Jurong West.
The government has plans to expand Punggol Town Centre toward the waterfront, and develop it as a mixed-use district (commercial, residential, and business park).
There has been extensive plans for the next chapter of Punggol’s development in the next 5 to 15 years and beyond which shall include seafront public housing, an expanded town centre, more green parks and corridors, as well as a pedestrian-friendly heritage trail. The new Singapore Institute of Technology (SIT) campus will be located here, and the area will be developed into a “digital district” for tech innovation. The Punggol Digital District has also been identified as a key element in the Singapore government’s plan to build a Smart Nation.
In the near term, the government is expecting to relocate cyber security, data analytics, artificial intelligence firms and other digital technologies and key growth industries to Punggol. This is expected to create another 28,000 jobs in the region. In addition, it will bring Singapore Institute of Techonology campus, JTC's Business Park spaces and green lifestyle destination. Punggol will have a new hawker centre, revamped community club, and a new childcare centre. In other words, we are looking at a district where technology and social innovation will transform how we live, work and even play.
The Piermont Grand EC may be the beginning of a new era for Punggol, which may no longer be seen as just the place for affordable housing in the years to come.
3) Confidence in ECs and recovery in the residential market
The residential property market had turned around since end of 2018. Home prices were up one per cent in 2017, after declining 3.1 per cent in 2016. We also saw a rise in sales volumes for private homes, at 23,113 transactions between January and November 2017. The beats the total sales for the entire year of 2016, which were just 16,378.
At the same time, developers have always been bullish on the sales of ECs. In just the first seven months of 2016, for example, 2,697 EC units were sold by developers. This was more than the 2,550 EC units sold in the entirety of 2015.
In 2016, ECs like Wandervale sold half of its 534 units on the opening weekend, whilst Treasure Crest sold 72 per cent of its 504 units on the opening weekend.
ECs are popular because, despite being full suite condos that are fully privatised after 10 years, buyers can still get CPF grants when purchasing them. They are, in effect, a form of “government subsidised private housing”.
As the Piermont Grand EC will be the only housing type of its kind to launch in 2019, demand is sure to be high.
4) Prices of resale condos
Over on the secondary market, we see projects near the Sumang Link EC transacting between S$945 and S$1,192 psf.
Is Piermont Grand EC on Sumang Walk estimated selling price of $1,000 psf still competitive? Compared with the new launches of private condos in D19, naturally S$1,000 psf appears competitive.
When ranked next to resale condos in the secondary market, we see that most of the resale condos in the area have an average median price of S$1,100 to S$1,400psf.
5) Waterfront Living
6) Huge upside for ECs after the 5 years mark
For buyers who want to know the capital appreciation of an EC, Prive is an excellent recent example. It is an EC launched in 2010, and TOP in 2013. It had recently attained its minimum 5 year occupancy fulfillment (MOP), which means it can now be sold in the open market to Singaporeans and Singapore Permanent Residents (SPRs).
For perspective, it was previously sold for $660 per sq ft to $690 per sq ft (psf) in 2010 when it was launched.
Assuming the median price at launch for Prive to be S$675 psf, this is an estimated S$270 psf gain for an average unit sold, hence translating to a 40% gain for the first buyer. This means a profit of S$270,000 for the first owner of Prive for an average 3 bedder 1,000 square feet unit.
7) Tightening of Government Regulation for HBD Upgrader
With the implementation of Additional Buyer Stamp Duty (ABSD) and Total Debt Servicing Ratio (TDSR), upgrading for HDB owners are now tougher.
Unless you are loaded with cash, upgrading directly to a private condominium is a real financial challenge or a real stressful journey.
For example, if the HDB upgrader chooses to purchase the private condominium first before selling their home, they are liable to pay the hefty ABSD (12% on the purchase price of private condominium) and is only able to borrow up to 50% loan. They can claim back their ABSD if they successfully sell their HDB within 6 months of purchase of their private condominium. However, taking this route demands availability of huge funds.
For a HDB upgrader with limited funds, to avoid paying the hefty ABSD upfront and to secure maximum loan for your new purchase, the HDB upgrader can dispose off your HDB first before purchasing your new home. This manoeuvre demands either quick sale of your HDB or finding an ideal home real quick to avoid the period where you are technically homeless. For some HDB upgrader, to avoid the stress of selling or buying, they have no choice but to rent a place first before purchasing their new home, causing unnecessary expenditure on rent and the inconvenience of shifting house twice.
In the case of Executive Condominium, the entire upgrading process is smooth and less financial stress – HDB upgraders need not pay ABSD and is eligible to secure up to 75% loan. Plus, they are given 6 months to sell their HDB after their Executive Condominium TOP.
8) A Steeping Stone in Building your Real Estate Portfolio
Apart from attractive capital gain, Executive Condominium is the stepping stone for you to own a 2nd property. With proper planning (i.e. structuring the purchase), you would be a step closer to owning your private property right after your Executive Condominium fulfilled its MOP. A quick overview, the capital gain can be capitalized to enable you to purchase your next private property with (possibly) no cash output from you. Furthermore, you would be able to minimize the tax payable for your 2nd property with Executive Condominium. With such good attributes, Executive Condominium is definitely a choice you should seriously considered.
PIERMONT GRAND EC
Piermont Grand EC, located along Sumang Walk, an extension of Punggol Central, is bounded by Sumang Walk, Sumang Link and Punggol Way. It is located in District 19 where there are future plans turning Punggol, into a Digital District, along the North Coast Innovation Corridor as well as fostering industry-academia collaboration at the new Singapore Institute of Technology Campus.
Piermont Grand will be constructed with full facilities, modern fittings, elegant furnishings, and dashing interior and exterior decors. Comprises of 7 blocks of 16 storeys and 4 blocks of 15 storeys towers, with a total of 820 apartments, the unit types available in Piermont Grand EC range from 2 bedrooms to 5 bedrooms of different layouts, catering for young and growing families. The units will have very roomy layouts which will create a perfect ambience many years for the residents. Young couples and families will like this development as has classy interiors which wil be blend well with good features and present a smart-vibre living.
The units in Piermont Grand are mostly North-South oriented to maximise the brightness of the apartments and also, bring better breeze to the units, this enhance the energy efficiency for the residents. The living room shall receive strong walls and high ceilings. As for the bedrooms, extra attention shall become placed on natural illumination, bathrooms, closets, drawers, and their entire ambiance. Each room exhibit a relaxing atmosphere and privacy to ensure that its occupants have the most-deserved dwelling place for themselves.
The towers are spaced generously apart at distances from 40 metres to 70 metres, giving great sense of privacy, compared with the typical 25 metres to 30 metres of other developments. The surrounding grounds and private outdoor spaces, including balconies, are designed to echo key features of the natural environment with a selection of trees and shrubs that are native to the region. Walkways and greenery are incorporated in the design of the surrounding landscape, bringing to life the traditional values of neighbourhood and community. The Piermont Grand is a thoroughly modern building, featuring fresh, contemporary interior style.
PIERMONT GRAND EC- Connectivity
Piermont Grand EC at Sumang Walk is a short walk to Sumang and Nibong LRT Station which connects seamlessly to Punggol MRT Station, serving the North-East Line and the Punggol Bus Terminal. Future residents will have ease of connectivity not only the MRT line and the integrated transport system but also the Tampines Expressway (TPE) and Kallang Expressway (KPE) which is a short drive away will give more options of convenience to residents. Piermont Grand is approximately 18 minutes drive to Orchard Road shopping belt, City Centre and Downtown Central Business District (CBD).
PIERMONT GRAND EC- Amenities
The new Waterway Point which is a short distance walk away, will bring future residents of Piermont Grand EC with exciting and convenient suburban shopping, dining and entertainment experiences with its huge range retail, F&B and entertainment facilities. It provide convenience for future residents in getting their dining, leisure, shopping and entertainment needs with numerous retail shops, eating outlets and supermarket. The upcoming Punggol Food Centre will also give many choices to Piermont Grand EC’s future residents with local delights.
When it comes to recreation purposes, Piermont Grand EC is close to My Waterway @ Punggol, a 4.2 km long waterway offering pockets of greenery, promenades, cycling tracks, water sports and various outdoor activities for its residents’ enjoyment. My Waterway @ Punggol also connects to the Sengkang Riverside Park, the Punggol Park, the Punggol Waterway Park and the Punggol Point Park.
Residents can enjoy an active life-style, taing advantage of the cycling/ jogging paths of the Punggol Park Connector. Residents will embrace in what nature has to offer and experience tranquility along Waterway @ Punggol. Its future residents can enjoy the 4 themes available at My Waterway @ Punggol namely, the Nature Cove, the Recreation Zone, Heritage Zone and Green Gallery. There is a bridge over the Serangoon Reservoir which is connecting The future residents to the Lorong Halus wetland. This is a new attraction teeming with wildlife and dotted with information kiosks and a visitor centre.
Residents can also enjoy their days in the new and upcoming Safra Punggol Clubhouse which is located at Sam Kee LRT Station, Piermont Grand is a short distance drive to Marina Country Club where residents can enjoy many water activities and also dining and drinks here while enjoying the tranquility of Sungei Punggol Reservoir.
PIERMONT GRAND EC- Education
Piermont Grand EC future residents with school going children can choose from a wide selection of local schools in its vicinity such as Anchorgreen Primary School, Compassvale Primary School, Punggol Cove Primary School, Horizon Primary School, Greendale Primary School, Edgefield Primary School, Mee Toh School, Punggol View Primary School, Rivervale Primary School and Oasis Primary School. The secondary schools include Compassvale Secondary School, Greendale Secondary School, Punggol Secondary School and Edgefield Secondary School.
PIERMONT GRAND EC- Developer
City Developments Limited (CDL) is a Singapore-listed international real estate operating company with a global presence spanning 97 locations in 26 countries. As one of Singapore’s largest companies by market capitalisation, its income-stable and geographically-diversified portfolio comprises residences, offices, hotels, serviced apartments, integrated developments and shopping malls, totalling over 18 million square feet of floor area globally.
CDL has hotel assets in one of the world’s largest hotel groups – its London-listed subsidiary, Millennium & Copthorne Hotels plc (M&C), has over 130 hotels globally, many in key gateway cities. Globally, CDL has developed over 40,000 homes and is one of Singapore’s largest commercial landlords, with one of the biggest landbanks amongst Singapore private-sector developers.
Building on its track record of over 50 years in real estate development, investment and management, CDL has developed growth platforms in five key international markets – UK, US, China, Japan and Australia. The Company is also leveraging its stable of prime assets and growing its real estate funds management business. It currently has over $3.5 billion in funds under management.
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| Piermont Grand EC Unit Mix Distribution | |||
|---|---|---|---|
| Unit Type | Type | Area (Square Feet) | Total No. of Units |
| 1 Bedroom | TBA | TBA | TBA |
| 2 Bedroom | TBA | TBA | TBA |
| 3 Bedroom | TBA | TBA | TBA |
| 4 Bedroom | TBA | TBA | TBA |
| 5 Bedroom | TBA | TBA | TBA |
| Penthouse | TBA | TBA | TBA |
| PierMont Grand EC Facilities | |||
| A Condo-Club Concept with 128 facilities | |||
| Piermont Grand EC Price List | |||
|---|---|---|---|
| Unit Type | Area (Square Feet) | Pricing | PSF |
| 1 Bedroom | TBA | TBA | TBA |
| 2 Bedroom | TBA | TBA | TBA |
| 3 Bedroom | TBA | TBA | TBA |
| 4 Bedroom | TBA | TBA | TBA |
| 5 Bedroom | TBA | TBA | TBA |
| Penthouse | TBA | TBA | TBA |
LOCATION and AMENITIES- PIERMONT GRAND EC
Sumang Walk Sumang Link Punggol Way
FACILITIES and SITE PLAN E-BROCHURE- PIERMONT GRAND EC
The Facilities and Site plan of new EC at Piermont Grand, Punggol, are currently seeking approval from relevant authorities.
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RESIDENTIAL FLOOR PlANS E-BROCHURE- PIERMONT GRAND EC
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SHOWFLAT LOCATION- PIERMONT GRAND EC
If you wish to visit Piermont Grand Showflat viewing, all you need to do is to schedule an appointment with us before coming around so as not to waste your time and avoid making a fruitless journey because our showflat may not be opened to the public on particular days and time.
No Agent Fees! Get amazing benefits as well as Direct Developer Discount. For additional enquiry, please get in touch with us at our Sales Information Hotline +65 90070868 for further details on the details of Piermont Grand Executive Condominium.
Get in touch with The Piermont Grand Developer Sales Support Team.
It is important to deal with only with our authorized Developer Sales Support Team, you will get the best obtainable Direct Developer Discount. Get the latest information about Piermont Grand units today!
The Piermont Grand Showflat is located along ................
Tastefully designed to maximise the usability and efficiency of the size, the geographical location, proximity to eateries and top schools, seek to attract many potential home seekers and upgraders to make Piermont Grand their dream home.
Do register early to book Piermont Grand Showflat viewing appointment with us to have a feel of the luxurious and fine finishing by the developer after several detail plannings.
4 Simple things to take note before visiting Piermont Grand Showflat Gallery
1) We advise to check and know how much CPF you are able to use to purchase Piermont Grand Executive Condo
2) Contact our Sales Team for our recommended trusted panel of bankers for your loan assessment
3) With MSR 30%, you will need to know how much loan amount that you are able to loan
4) For the actual launch date, you will need to understand on how the balloting system works
Register Early to keep yourself update on the latest information pertaining to Piermont Grand. Alternatively, you may contact our Developer Sales Personnel for a non-obligated discussion.
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