PROJECT DETAILS
** FIRST TIME BUYERS: If you are planning to buy your very first property and do not know whether to buy a BTO, a new launch EC or a Private Condo, let us discuss your best possible option.
** EXISTING HDB OWNERS: If you are planning to change to another property, and would like to know whether to buy a EC or private condominiums, let us help you to assess your best possible options to get better returns on your dollars. We do not want to under-leverage on ourselves.
The Housing and Development Board HDB has a residential site in Tampines Street 62, as part of Government Land Sales (GLS). It is listed in the reserve list of sites and is allocated to be developed into an Exective Condominium (EC). This land parcel is bounded by Tampines Stret 62 and Tampines North Drive 2, is at the Eastern Region of Singapore.
Other private residential developments that are within New EC’s vicinity include Arc at Tampines, Waterview at Tampines, The Tropica, Pinevale, City Life at Tampines and The Tampines Trillant, QBay Residences, Alps Residences, The Santorini and the latest Tapestry.
New EC at Tampines Street 62- Connectivity
New and Upcoming EC at Tampines Street 62 is approximately 1.7 km away from Tampines Town Centre where the Tampines East West Line MRT Station and the upcoming Tampines Downtown Line MRT Station is located. Future residents of the New EC in Tampines Avenue 10 can also find many bus services available here at the Tampines Bus Interchange. Future residents of New EC can also access to Tampines West Downtown Line MRT Station, which is approximately 1.5 km away, in 2017 when it is starts its operations.
Getting to the Central Business District (CBD) and the Marina Bay Financial Centre (MBFC) is a breeze via the Tampines Street 62 which links to The Pan Island Expressway (PIE), the Kallang Paya Lebar Expressway (KPE) and the Marina Coast Expressway (MCE) and reach in approximately 14 minutes. To drive down to Orchard Shopping Belt, future residents just need connects to the Central Expressway (CTE) via the Pan Island Expressway. New EC is also easily link to the Tampines Expressway (TPE) which connects its future residents to various parts of the island.
New EC at Tampines Street 62- Amenities
Future residents of New Tampines Street 62 can find many shopping, dining and entertainment facilities at the Tampines Town Centre which housed many major shopping malls like Century Square, Eastlink Mall, Tampines Mall and Tampines 1. To get fresh market produce and economical local food, residents can take a short drive down to Tampines Round Market And Food Centre which is approximately 2 km away. The upcoming new Tampines Food Centre which will be located at Tampines Avenue is also approximately 1.3 km away.
New EC at Tampines Street 62- Education
There are numerous education facilities that are located just short distances away from the development such as Poi Ching School, Junyuan Primary School, East View Primary School, Tampines Primary School, Junyuan Secondary School, Springfield Secondary School, St Hilda’s Secondary School and Tampines Secondary School. New EC in Tampines Street 62 is also approximately 1.1 km away from Temasek Polytechnic. Many recreational facilities can be found within its poximity as it is near to Bedok Reservoir Park, Tampines Sports Hall, Tampines Bike Park and Safra Tampines.
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| Project | Tampines Street 62 New EC |
| Developer | |
| Location | Tampines Street 62 |
| District | 18 |
| Tenure | 99 years lease |
| Site Area | |
| GFA: | |
| Plot Ratio | |
| Expected TOP: | |
| Total Units | Approximately residential apartments |
| Total Carpark | |
| Development | Executive Condo comprising of communal facilities |
| Unit Type: | |
| Architect | |
| Eligibility | SC/ SC, SC/SPR can buy |
LOCATION MAP and AMENITIES
Amenities Near New EC at Tampines Avenue 10
| Category | Important Amenities Near New EC at Tampines Avenue 10 | Approximate Distance |
| Train Stations | Tampines West (DT31) Downtown Line Due 2017 Tampines (EW2/DT32) Downtown Line Due 2017 |
1.7km 1.5km |
| Bus Stop | Blk 874 (Bus: 69, 293) Opp Blk 871A (Bus: 2N, 69, 293) |
0.2km 0.2km |
| Supermarkets | Fairprice (Tampines Central Community Complex) Prime (Tampines 823) Giant (829 Tampines) Cold Storage (Tampines 1) |
0.5km 0.9km 0.9km 1.7km |
| Shopping Malls | Century Square Eastlink Mall Tampines Mall Tampines 1 |
1.6km 1.6km 1.7km 1.7km |
| Education Institutions | Preschool | |
| Cavenur Kindergarten PCF Tampines West Blk 887 PCF Tampines Central Blk 725 PCF Tampines Central Blk 856-854 PCF Tampines Central Blk 858-860 PCF Tampines Central Blk 713-714 Darul Ghufran Mosque Kindergarten PCF Tampines West Blk 140-938 Soka Kindergarten |
0.6km 0.7km 0.7km 0.8km 0.9km 1.0km 1.1km 1.8km 1.9km |
|
| Primary | ||
| Poi Ching School Junyuan Primary School East View Primary School Tampines Primary School |
0.7km 1.4km 1.4km 1.6km |
|
| Secondary | ||
| Junyuan Secondary School Springfield Secondary School St Hilda’s Secondary School Tampines Secondary School |
0.5km 0.6km 0.9km 1.7km |
|
| Junior College | ||
| Meridian Junior College | 2.5km | |
| Tertiary | ||
| Temasek Polytechnic | 1.1km | |
| International | ||
| The Japanese School (Primary School – Changi Campus) | 4.1km | |
| Food Centre | Tampines Food Centre (U/C) Tampines Round Market & Food Centre |
1.3km 2.0km |
| Lifestyle | Bedok Reservoir Park Tampines Sports Hall Tampines Bike Park Sun Plaza Park Water Venture – Bedok Reservoir Park Safra Tampines Tampines Eco Green |
0.9km 1.2km 1.5km 1.5km 1.6km 1.8km 1.8km |
FACILITIES SITE PLAN and FLOOR PLANS E-BROCHURE
AVAILABLE UNITS/ SOLD/ CHEAPEST PRICES PSF
SINGAPORE PROPERTY MARKET
Singapore’s property market has one of the best long term returns on equity performance out of most investment instruments available.
And that has to do largely with the strength of the Singapore dollar, the availability of high leverage, and the attraction of Singapore to the international audience, not just as a region to invest in, but as an asset class on its own.
HIGHER DEMAND FOR ECs WITH ITS HIGH PROFIT MARGIN AND LOW ENTRY PRICE
Owners of Executive Condominiums (EC) stand a huge capital potential appreciation in due of the low entry price to purchase a unit compared to private condominiums.
After a period of 10 years, the EC will be privatised, changing its status to be on level to a private condominium. Foreigners will be able to purchase the unit then. Owners typically enjoy a capital gain after their EC is privatised.
The above table shows a significant increase in capital appreciation for EC owners.
Purchasing an EC is extremely promising as we may look into such capital appreciation after it becomes privatised over time.
As the entry price for an Executive Condominium (EC) is much lower than a private condominium, demand for ECs has been on the rise. New EC units are generally 15-30% cheaper than private condominiums. In addition, first timer are entitled to receive a CPF Housing Grant of up to S$30,000. These make EC an extreme worthwhile asset to purchase.
Physical features are similar when comparing between a new executive condominium with a private condominium. This include facilities such as gym, clubhouse, security guard, tennis court, swimming pool and many more.
With further developments in the East Region of Singapore, new EC at Tampines Street 62 will look into a long term investment with high profit margin.
When doing a comparison between an executive condominium and private condominium, we know that both EC and private condominiums offer the same features such as swimming pool, gym, tennis court and many more,
As resale executive condominiums are typically larger in space comparing to its counterpart and with a lower entry price, demand has increased for the resale ECs. This has led to a narrowing of price gap.
Owners of resale ECs have profited greatly in the market with their low entry price and they had enjoyed the bigger space and same facilities.
QINGJIAN WON TOP BID FOR TAMPINES STREET 62 NEW GLS EC PARCEL SITE
SINGAPORE - Records were smashed when bids were lodged yesterday for two residential sites under the Government Land Sales (GLS) programme.
Tenders for both 99-year leasehold plots - a Tampines executive condominium (EC) parcel and one in Lentor Central - closed last night with nine bids lodged for each, as developers rushed to replenish land banks as unsold private housing inventory nears a four-year low of 16,929 units.
They were both on the confirmed list sites under the first-half 2021 GLS programme. This means they were launched according to schedule regardless of demand. Together, they can yield about 1,195 residential units.
The top bid for the EC plot in Tampines Street 62 was lodged by a joint venture between Qingjian Realty and Santarli Construction at $422 million, or $659 per sq ft per plot ratio (psf ppr).
Their bid was just 1.4 per cent above the second-placed one of $416.3 million.
The $422 million bid is the highest land rate to be paid for an EC site in the history of this type of housing, said Mr Nicholas Mak, head of research and consultancy at ERA Singapore.
It broke the previous record land rate of $603 psf ppr for an EC site in Tengah Garden Walk, the last GLS EC land tender that closed just before this tender, he added.
Analysts noted that six of the nine bids for the Tampines plot, which is expected to yield 590 units, were above the $603 psf ppr land rate for the Tengah Garden Walk site.
"The developer would have to launch the future Tampines EC project at above $1,250 psf. The current median transacted prices for new EC units in the second quarter this year is $1,154 psf," Mr Mak said.
Mr Ong Teck Hui, senior director of research and consultancy at JLL, said a strong selling point is the site's proximity to the upcoming Tampines North MRT station and amenities in Tampines town.
Ms Christine Sun, senior vice-president of research and analytics at OrangeTee & Tie, said prices for new ECs are inching closer to $1,200 psf this year.
"Piermont Grand was sold at a median price of $1,151 psf, and Parc Central Residences at $1,173 psf. Therefore, a median selling price of above $1,200 psf for new ECs could be breached when (the Tampines) plot is launched," she said.
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