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: Prices of HDBs are staying stagnant, if not dropping. Preserve your wealth. 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. Grow your Wealth. We do not want to under-leverage on ourselves.
The Housing and Development Board (HDB) has sold a residential site in Fernvale Lane, as part of Government Land Sales (GLS), in 1st quarter of 2020. This land parcel is along Yio Chu Kang, bounded by Sengkang West Road and Fernvale Lane, North-East Region of Singapore. It has a land size of 184,386 square feet and is to house an approximate 540 residential units and is allocated to be developed into Executive Condominium (EC).
Frasers FCL won the top bid of S$286.5 million, which translates into S$555 psf ppr.
It is near to Topiary EC and opposite of Greenwich V and other developments nearyby include Seletar Residences, Parc Botannia, Topiary and Jewel at Buangkok.
New EC in Fernvale Lane- Connectivity
New EC at Fernvale Lane is approximately 900 m away from Fernvale LRT Station. The LRT services provides a seamlessly link to the Sengkang Train Station and Sengkang Bus Interchange at Sengkang Town Centre. This integrated public transport system provides future residents of New EC at Fernvale Lane with fast and efficient way of commuting within the estate and to downtown Singapore for both work and leisure.
For New EC at Fernvale Lane’s future residents who drive, it is approximately 13 minutes of driving away from the Central Business District (CBD). For a weekend shopping spree at Orchard Shopping District, New EC at Fernvale Lane’s future residents just need to take a 11 minutes’ drive down. New EC at Fernvale Lane is also near to a host of expressways such as expressways the Tampines Expressway (TPE), the Central Expressway (CTE), the Kallang Paya Lebar Expressway (KPE) and major roads which drivers will enjoy fuss free connectivity to various parts of Singapore.
New EC in Fernvale Lane- Amenities
In terms of daily conveniences, New EC at Fernvale Lane is just 200 m away from Greenwich V where many retail shops, dining outlets and a supermarket is located.
The Seletar Mall, which is just a short stroll away, has options for New EC at Fernvale Lane's future residents to choose from with its 188,000 square feet of retail space which also includes a Cineplex.
New EC in Fernvale Lane- Education
Established schools such as Fernvale Primary School, Sengkang Green Primary School, Hougang Primary School, Rosyth School, Yio Chu Kang Primary School, Da Qiao Primary School, Anchor Green Primary School, Hougang Secondary School, Bowen Secondary School and Xinmin Secondary School are within 2 km from New EC at Fernvale Lane.
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Why is what you buy
as a first property important?
as a first property important?
Should I sell my HDB and buy condo? I don't want to pay more for instalment
Can you afford a
S$1 million property?
S$1 million property?
Is now the correct time to buy?
Should I go for capital gains or
passive income
passive income
| Project | Fernvale Lane New EC |
| Developer | Frasers Property |
| Location | Fernvale Lane (Sengkang Planning Area) |
| District | 27 |
| Tenure | 99 years leasehold |
| Site Area | 17,129.9 square metres/ 184,376 square feet |
| GFA: | 49,964 square metres/ 537,812 square feet |
| Plot Ratio | 2.8 |
| Expected TOP: | |
| Total Units | Approximately 500 residential apartments |
| Total Carpark | |
| Development | Executive Condo comprising of communal facilities |
| Unit Type: | |
| Architect | |
| Eligibility | SC/ SC, SC/SPR can buy |
LOCATION and AMENITIES
Amenities Nearby New EC at Fernvale Lane
Train Stations
Fernvale (SW5) – 0.9km
Bus Stop
Aft Jln Redop (Bus: 70, 70M, 103, 854) – 0.2km
Supermarkets
Cold Storage (Greenwich V) – 0.2km
Fairprice (Fernvale Point) – 0.9km
Giant (982 Buangkok Crescent) – 1.2km
Sheng Siong (19 Serangoon North) – 1.2km
Shopping Malls
Greenwich V – 0.2km
The Seletar Mall (U/C) – 0.9km
Fernvale Point – 0.9km
Hougang 1 – 1.6km
Preschool School
Chatsworth Kindergarten – 0.3km
P & J Kindergarten – 0.8km
Brain Buttons Kindergarten – 0.8km
PCF Sengkang West Blk 436D-436A – 1.0km
PCF Ang Mo Kio-Hougang Blk 970 – 1.4km
St. Vincent De Paul Kindergarten – 1.5km
PCF Jln Kayu Blk 518-520-522 – 1.7km
PCF Ang Mo Kio-Hougang Blk 936-937 – 1.7km
PCF Ang Mo Kio-Hougang Blk 929 – 1.7km
Kinderland Preschool (Yio Chu Kang) – 2.0km
Primary School
Fernvale Primary School – 0.6km
Sengkang Green Primary School – 1.0km
Hougang Primary School – 1.5km
Rosyth School – 1.5km
Yio Chu Kang Primary School – 1.9km
Da Qiao Primary School – 2.0km
Anchor Green Primary School – 2.0km
Secondary School
Hougang Secondary School – 1.6km
Bowen Secondary School – 1.9km
Xinmin Secondary School – 2.0km
Junior College
Anderson Junior College – 2.8km
Tertiary
Nanyang Polytechnic (NYP) – 2.4km
International School
Chatsworth Kindergarten – 0.3km
Lycee Francais De Singapour – 1.7km
Food Centre
Chong Boon Market & Food Centre – 2.4km
Lifestyle
Sengkang Riverside Park – 1.9km
FACILITIES SITE and FLOOR PLANS E-BROCHURE
The Facilities and Site plan of new EC at Fernvale Lane, Sengkang, are currently seeking approval from relevant authorities.
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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.
WILL THE PROPERTY PRICES IN SINGAPORE BE COMING DOWN?
The Singapore Income growth index has increased over the years and reached an equilibrium with the property price index. Unlike during the mid 2000s, property prices increased to a level which was out of reach to many Singaporeans. This makes prices of condo affordable and per month debt repayment manageable. With an average household income of S$13,000, a couple can choose to purchase a condo price at $2.3m. A good size 3 bedrooms cost around S$1.6m in today's market. Debt ratio versus income has dropped. The drop in interest rate has further reduced the per month repayment.
Not only has income in Singapore grown over the years, the household liabilities has dropped significantly for the past decade as well while the property price index held stagnant since the tightening of measures in 2013, TDSR was implemented. Property price index had been stagnant. We had lost 7 years of property prices growth.
During this time, Singapore has structured itself also with a younger working population. This is important as the younger generation are able to drive better our GDP and as well as our consumption growth. Our GDP growth has well exceeded our property price growth during this period.
Forbearance programmes are offered by banks for clients who need short term relief in their installment payment but I see that there will not be many people who need to be utilising this. If you are a buyer looking for investment, do whatever you can to build up some cash reserves, for up to a year would be good, to protect yourself from mortgages.
Singapore shall continue with our productivity growth and further restructure our economy with new jobs.
The Economic Development Board (EDB) has managed to secure $13 billion in investment commitments in the first four months of 2020, which has surpassed the targets for the whole year. These investments come partly from electronics and infocomm media sectors. Thousands of jobs will be generated. Due to the change in the market, more jobs will be added to Singapore's capitalisation of the IT industry, namely, semiconductor as Singapore rolls out the 5G technology. We have changed our way of working and our daily lives with the recent pandemic, it has fastern the route on our reliance on the IT, so more jobs will be created in the e-commerce and the digital economic space. Singapore is moving forward with a greater productivity to remain competitive, because in the long run, this is what matters.
Anti-speculation measures have also been implemented over the course of 8 measures. Average holding period for a property has been increased to 8 years.
Additional stamp duty (ABSD) are imposed on buyers for 2nd and 3rd property onwards and slightly higher for PRs. Foreigners who want to have a stake in Singapore's properties will need to pay an additional of 20% in taxes.
Qualifying certificate and additional stamp duties (ABSD) are imposed on developers as well to ensure that there is no hoarding of land by them.
There is alot of buyers in the market looking to buy a real estate for investment. Please do keep an eye on the number of people buying a home, the available supply of homes for purchase in the market and foreclosure if any. The way that I see, it is unlikely to see a state of foreclosure in Singapore. I am certain to see more buyers than sellers. We have worked for this for the past decade and shall see ourselves coming out of the de-leveraging process. We shall see a gradual growth and sustainable price increase in Singapore homes.
HIGHER DEMAND FOR ECs WITH ITS HIGH PROFIT MARGIN AND LOW ENTRY PRICE
Owners of Executive Condominiums (EC) stand a huge potential capital 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.
Residents of this new EC in this estate of Fernvale along 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.
FRASERS PROPERTY WON TOP BID FOR NEW GLS EC SITE AT FERNVALE LANE
The Fernvale Lane EC site received seven bids, in line with our expectations and consistent with the 7-9 bids for the last five EC site tenders since the cooling measures in July 2018.
The seven bids were tightly bunched between SGD500-555 psf ppr, reflecting a consensus on the demand and pricing of the site. The top bid of SGD286.5 million or SGD555 psf ppr, was submitted by Frasers Property, pipping the second-placed Sing Holdings and MCC Land by just 0.5%. At this land rate, we estimate the developer could launch the project at SGD1,050-1,100 psf.
The top bid price is slightly above our expectation of SGD500 psf ppr. Confidence could have been boosted by the recent stellar performance at EC projects – OLA Residences in nearby Anchorvale has received 1,163 e-applications, more than double the 548 units offered in the Spanish-themed development. Further up north, 496-unit Parc Canberra EC recently achieved sales of 64% (316 units) at an average price of SGD1,085 psf during its launch in February 2020.
The Fernvale Lane site is not near any MRT station and is about 800m from the nearest LRT station – Fernvale. It is one block away from another EC -- The Topiary, which was completed in 2016 and achieved an average price of SGD730 psf. There were limited secondary transactions as the Minimum Occupation Period (MOP) of five years have not been reached. Nearby private condominium projects such as Seletar Park Residences (completed in 2015) and The Greenwich (2014) transacted at SGD1,000-1,100 psf over the past 12 months.
This latest land price is relatively comparable with the last Executive Condo site tender at Canberra Link, awarded on 11 October 2019 for SGD233.89 million or SGD566 psf ppr; and the Tampines Avenue 10 EC site awarded on 22 January 2019 for SGD57 8psf ppr.
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