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HUNDRED PALMS RESIDENCES
A Rare Executive Condominum
In a matured estate
FULLY SOLD!

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Next EC to Watch Out for
Upcoming EC in Anchorvale Lane

PROJECT DETAILS

 
 

** FIRST TIME BUYERS: If you are planning to buy your very first property and do not know whether to buy a Resale HDB, BTO or a new launch EC, let us discuss your best possible option.

** EXISTING HDB OWNERSIf 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.


Ec in Yio Chu Kang Road launching Mid 2017

Land site in a matured estate surrounded by private and landed housing

The Housing and Development Board (HDB) has sold a residential site in Yio Chu Kang Road as part of Government Land Sales (GLS) under the confirmed list, in 1st quarter of 2016. This land parcel is along Yio Chu Kang Road, in the vicinity of Serangoon North, bounded by Hougang Avenue 9 and Lorong Napiri, located at the Northern Region of Singapore. It is listed under the confirmed list of sites and is to be developed into Executive Condo (EC). It has a site area of 198,519 square feet and will house approximately 520 residential apartments.


Hoi Hup Realty won the top bid of S$183.8 million, translating to S$331.02 per square foot per plot ratio (psf ppr) and the breakeven price is approximately $660 psf ppr.


Higher demand for ECs with High profit margin and Low entry price


The site is next to Regentville and is near to Asian’s Women Welfare Association, Bright Vision Hospital and GraceHaven Salvation Army. Other developments that are nearby new EC in Serangoon North includes Village Residence Hougang, The Waterline, Nouvelle Park, Terrasse, Bliss @ Kovan, Kovan Regency, Jewel @ Buangkok The Quartz and the mixed development Midtown and Midtown Residences.

 

Residents of new and upcoming EC in Yio Chu Kang Road can be served by the Hougang, Buangkok and Kovan MRT Station. It is approximately 1.6 km away from Kovan Town Centre and Kovan MRT Station, serving the North-East Line. And it is only 1 station away from Serangoon MRT Interchange where residents of new EC in Yio Chu Kang Road can conveniently transit to the Circle Line. The Serangoon Bus Interchange is also right at the Serangoon MRT Interchange which future residents of New EC can access to many bus services providing a conduit of conveniences for them to commute to several parts of Singapore.


It will take drivers approximately 15 minutes to get down to the Central Business District (CBD), City Centre and Orchard Shopping Belt via Central Expressway (CTE) where there is easy access to Tampines Expressway (TPE), the Seletar Expressway (SLE) and the Kallang Paya Lebar Expressway (KPE) to various parts of Singapore.

 

It is just approximately 300 m away from Hougang 1, where many retails shops are available. Future residents of New EC in Yio Chu Kang Road can also get their daily groceries and necessities at the supermarket located in Hougang 1. New EC is a short drive to many other shopping malls. They are Hougang Green Shopping Centre, Greenwich V, Heartland Mall, myVillage at Serangoon Garden, Hougang Mall, Hougang Plaza and The Midtown.

 

New and upcoming EC in Yio Chu Kang Road has many kindergartens and schools nearby. The primary schools which are within its vicinity includes Rosyth School, Hougang Primary School, Xinmin Primary School, Yio Chu Kang Primary School, Montfort Junior School, Zhonghua Primary School, Palm View Primary School, Holy Innocents’ Primary School, Fernvale Primary School and Punggol Primary School. New EC is also close to secondary schools such as Bowen Secondary School, Xinmin Secondary School, Hougang Secondary School, Serangoon Garden Secondary School, Montfort Secondary School, Peicai Secondary School, Pei Hwa Secondary School and Holy Innocents’ High School.


For more sports and leisure, residents of New EC in Yio Chu Kang Road can take a short drive to Hougang Sports Hall, Hougang Swimming Complex and Hougang Stadium.


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Project  Yio Chu Kang Road EC
Developer  Hoi Hup Realty
Location  Yio Chu Kang Road
District  19
Tenure  99 years lease
Site Area  198,519 square feet, 18,442 square metres
GFA:   555,246 sqft/  sqm
Plot Ratio  2.8
Expected TOP:
Total Units  Approximate 520 residential apartments
Total Carpark
Development  Executive Condo
Unit Type:
Architect
Eligibility SC/ SC and SC/SPR

LOCATION and AMENITIES

EC--Yio-Chu-Kang-Road-map

Amenities Near New EC in Yio Chu Kang Road

Category Important Amenities Near New EC Approximate Distance
Train Stations Kovan (NE13) 1.6km
Bus Stop Gracehaven Salvation Army (Bus: 43, 70, 70M, 73, 103, 109, 156, 854, 854E)
Opp Gracehaven Salvation Army (Bus: 6N, 43, 70, 70M, 73, 103, 109, 156, 854, NR6)
Blk 941A (Bus: 112)
0.2km
0.2km
0.3km
Supermarkets Fairprice (Hougang One)
Sheng Siong (Serangoon North)
Giant (Buangkok Crescent)
Cold Storage (Greenwich V)
0.3km
0.7km
0.9km
1.5km
Shopping Malls Hougang One
Hougang Green Shopping Centre
Greenwich V
Heartland Mall
myVillage at Serangoon Garden
Hougang Mall
The Midtown
Hougang Plaza
0.3km
1.3km
1.5km
1.6km
1.7km
1.8km
1.9km
2.0km
Education Institutions Preschool
PCF Ang Mo Kio-Hougang Blk 936-937
St. Vincent De Paul Kindergarten
PCF Jln Kayu Blk 518-520-522
PCF Ang Mo Kio-Hougang Blk 632
Al – Istiqamah Mosque Kindergarten
PCF Ang Mo Kio-Hougang Blk 929
Yio Chu Kang Chapel Kindergarten
PCF Serangoon Blk 141
PCF Ang Mo Kio-Hougang Blk 970
Jenius Kindergarten (Hougang)
0.3km
0.3km
0.4km
0.4km
0.5km
0.5km
0.6km
0.6km
0.7km
0.9km
Primary
Rosyth School
Hougang Primary School
Xinmin Primary School
Yio Chu Kang Primary School
Montfort Junior School
Zhonghua Primary School
Palm View Primary School
Holy Innocents’ Primary School
Fernvale Primary School
Punggol Primary School
0.3km
0.6km
0.6km
1.0km
1.3km
1.7km
1.9km
1.9km
1.9km
2.0km
Secondary
Bowen Secondary School
Xinmin Secondary School
Hougang Secondary School
Serangoon Garden Secondary School
Montfort Secondary School
Peicai Secondary School
Pei Hwa Secondary School
Holy Innocents’ High School
0.3km
0.6km
0.7km
1.0km
1.3km
1.7km
2.0km
2.0km
Junior College
Serangoon Junior College 1.4km
Tertiary
Nanyang Polytechnic 3.3km
International
Lycee Francais De Singapour 1.1km
Food Centre Chomp Chomp Food Centre
Serangoon Garden Market And Food Centre
Hougang Street 21 Block 209 Market And Food Centre
1.6km
1.7km
1.8km
Lifestyle Hougang Sports Hall
Serangoon Gardens Country Club
Kovan Sports Centre
Serangoon Stadium
1.2km
1.5km
1.9km
1.9km

FACILITIES and SITE PLAN

The Yio Chu Kang Road EC Facilities and Site plan is currently seeking approval from relevant authorities. If you would like to be updated on first hand information for this upcoming EC along Yio Chu Kang Road or would like to know more about progressive and deferred payment schemes, Please

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HOUGANG OVERVIEW

Master Plan- Hougang 1

Hougang is a mature town with good schools and a variety of parks and sports facilities. Over the next few years, residents will be able to enjoy more community facilities and recreational options and to have access to more jobs near home. There are also plans to showcase the town's rich history and heritage sites.

Master Plan- Hougang

Yio Chu Kang Road EC- Gracious living in a heritage town

Various initiatives will be implemented to enhance the overall living environment and to strengthen the residents' connection with local history. These include:

  • A One-stop community club with hawker centre, a health-care facility and an arts centre, located at Hougang Avenue 9
  • An Estate- Upgrading Programme a new pedestrain footbridge across Sungei Punggol at the Gerald-Mugliston Estate
  • More retail amenities at Kovan, Hougang Central, Hougang Avenue 7, Buangkok Drive and Jalan Pelikal
  • A new nursing home to serve the needs of elderly residents at Hougang Avenue 8
Yio Chu Kang Road EC-  Leisure- Greener than ever

Residents in Hougang will have easy access to many major parks in the North-Eastern Region via the North-Eastern Riverine Loop (NERL) park connectors. When the NERL eventually becomes part of the 150km long Round Island Route, recreation sites farther afield will be even more accessible, such as the Changi Coastal Loop. As the green network expands in future, most homes in Hougang will be closer to parks or park connectors. These include:
  • New neighbourhood parks within Kovan Estate
  • A park at the future Lorong Halus Industrial Park
  • An expanded Punggol Park
  • An extended park connector at Hougang Avenue 3 to link up with the Pelton Canal park connector, providing easier access to Kallang Riverside.
  • New interim sports facilities at the Jalan Kayu Sports Hub at Buangkok Crescent
  • Enhancements to the canal at Hougang Avenue 10 through new landscaping with outlook decks, shelters and seatings
Yio Chu Kang Road EC- More transport infrastructure- Better roads with better rides

Hougang is well connected to other parts of Singapore via public transport. Getting around will become much easier with trasnport improvements to smoothen traffic flow and improve accessibility. These include:
  • A New Integraged transport hub in Hougang MRT Station
  • Road improvements along Upper Serangoon Road, Upper Paya Lebar Road, Tampines Road, Lorong Ah Soo and Hougang Central
  • Extension of Buangkok Link and Buangkok Crescent to complete the local road network
  • Construction of the Cross Island Line which will pass through Hougang when it starts operations by 2030 and provides another direct MRT route to Changi and the west as well as other major towns.

NORTH-SOUTH CORRIDOR TO BE READY IN 2026

News- North-South corridor

News- Bus lane dedicated

News- North-South Expressway

News- North-South cycling route

HIGHER DEMAND FOR ECs WITH ITS HIGH PROFIT MARGIN AND LOW ENTRY PRICE

EC- Article on Potential on ECs

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.

EC- Article on EC drawing more buyers

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 Serangoon North near Hougang will look into a long term investment with high profit margin.

EC- Article on price gap closing between EC and private

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.

Price index- Hdb versus private

HOI HUP GETS HIGHEST BID FOR EC LAND PARCEL IN YIO CHU KANG ROAD

SINGAPORE — An Executive Condominium (EC) site on Yio Chu Kang Road has attracted healthy interest from developers, with the highest of ten bids amounting to S$183.8 million, the Housing and Development Board (HDB) said at the close of tender today (Feb 18).

The new 99-year leasehold site launched in Yio Chu Kang Road, which is next to a condominium development, Regentville, released from the Confirmed List of the second half of the 2015 Government Land Sales (GLS) programme, sits on 198,302 sq ft of land. With a plot ratio of 2.8, the site has a maximum allowable gross floor area of about 555,246 sq ft and can yield an estimated 520 homes, the HDB said.

EC- Yio Chu Kang bids

The top bid, coming from Hoi Hup Realty, translated to S$331.02 per sq ft per plot ratio.

Mr Eugene Lim, Key Executive Officer at ERA Realty, said: “Despite the high numbers of unsold EC units, we are still seeing heightened interest in the EC segment. The rather high level of competition for the site in Yio Chu Kang Road could be due to its ease of accessibility via driving and proximity to Rosyth School, which runs the Gifted Education Programme”

“Also, the new launch land site in Yio Chu Kang Road is in an estate surrounded by HDB flats of Serangoon North, Hougang and accessible to Ang Mo Kio, provides for a ready catchment pool for developers. The final development will likely be a family-oriented project, aimed at those with children.

ECs are a public-private hybrid housing form with initial buyer eligibility and resale conditions that are completely lifted 10 years after an EC project has been completed.

JLL national director Ong Teck Hui pointed out that although this land site in Yio Chu Kang Road is not next to an MRT station, it is a bus ride or short drive away from Serangoon Station and also enjoys good road connectivity with the Central Expressway within easy reach.

Based on the highest bid by the tenderer, selling prices for this development in Yio Chu Kang Road will possibly be around S$750 psf to S$800 psf,” he added.

Hoi Hup's construction arm Straits Construction will build the project.

"We're looking at a project of about 560 units, of which a majority of about 70 per cent will be three-bedroom apartments, followed by about 15 per cent of units that will be four-bedders. The rest of the units will have either two or five bedrooms." 

Mr Nicholas Mak, head of research and consultancy at SLP International Property Consultants, noted that the top bid was 6.1 per cent higher than the second-highest bid, illustrating the aggressive bid by the developer.

He added: “The top bid is 18.2 per cent higher than the land price of the new launch EC site launch at Anchorvale Crescent in the same Sengkang planning area, which closed in January 2015 at S$280 psfppr. As the new land site in Yio Chu Kang Road is nearer to amenities such as mall, hawker centre and reputable schools, the higher land premium is expected.

Source: TodayOnLine and Business Times

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