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LOCATION and AMENITIES

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Amenities Near New Yishun Ave 1 EC

YISHUN MASTER PLAN

Best described as a family-oriented town, Yishun provides a comprehensive suite of amenities for all ages. Over the next 5 years, Yishun will be reinvigorated with new malls, hawker centres and cycling paths while the transport infrastructure will be enhanced to improve connectivity for residents

Yishun Ave 1 EC: Housing: More amenities for better living
With its wide range of facilities and pleasant neighbourhoods, Yishun continues to attract many new residents. In the coming years, new housing areas in the southern and eastern parts of Yishun will be developed progressively, providing greater options for potential home owners. More facilities will also be added to create a better living environment for residents:

• An integrated transport hub in the town centre that will incorporate a bus interchange, shopping mall, community club and a town plaza
• A community hospital, which will complement Khoo Teck Puat Hospital next door
• Two new nursing homes along Yishun Central and Yishun Ring Road will serve the needs of our elderly residents
• A new hawker centre next to Yishun Park will provide more places for eating out
• More childcare facilities
• Retail shops and eating houses will be conveniently located near housing estates
• A foreign system school will be developed at Yishun Avenue 6

Yishun Ave 1 EC: Leisure: New reasons to love the outdoors
Already enjoying easy access to Lower Seletar Reservoir, Yishun Park and a number of smaller parks, Yishun residents can look forward to more green spaces for recreation as well as better connections between the many parks within Yishun and other green spaces further away:

• The Round Island Route will provide residents with fresh ways to explore the nature spots of other towns island-wide
• The new Springleaf Park will serve those living in Yishun South
• The addition of more neighbourhood parks and green spaces
• The expansion of the park connector network in Yishun will link residents to more parks

Yishun Ave 1 EC: Transport: Faster, alternative routes
Travelling downtown or to other regions of Singapore will be faster with the following road improvements and enhancements to public transport, including:

• The new Springleaf MRT station along the upcoming Thomson Line will give residents in Springleaf Estate direct access to MRT network
• The new road, Yishun Avenue 8, will connect to Seletar West Link to provide an alternative route to the Central, Tampines and Seletar expressways
• The junction of Lentor Avenue and Yishun Avenue1 will be improved to enable smoothertraffic flow
• The extensive cycling routes will enable convenient access to the town centre, MRT stations, amenities and nearby towns

*Expansion of CTE/TPE/SLE interchange and construction of road between TPE and Yishun Ave 6

Completion Date: 4th quarter 2015

The expansion of Central Expressway (CTE), Tampines Expressway (TPE), and Seletar Expressway (SLE) Interchange is the first phase of the project. This project will improve connectivity between Yishun Town, the new Seletar Aerospace Park (SAP) and the expressway network.

Four new flyovers will also be constructed.

In addition, we will create five new road connections to improve the connectivity between the expressway and the road network:

1. From Seletar West Link to CTE;
2. From CTE to Seletar West Link;
3. From Seletar West Link to Yio Chu Kang Road;
4. From Yio Chu Kang Road to Seletar West Link; and
5. From TPE (Westbound) to Seletar West Link

The Yio Chu Kang Flyover will also be widened from three lanes to four lanes in both directions.  On top of that, an additional lane will be added in both directions for the stretch of TPE between Seletar Flyover and SAP, and for the stretch of SLE between Seletar Flyover and Lentor Avenue.

The new road link between Yishun Avenue 1 to Yishun Avenue 6 and the widening of Seletar West Link is the second phase of the project.  As part of this new road link, we will remark a stretch of Yishun Avenue 1 from dual 1-lane to three lanes in the direction towards TPE and two lanes in the direction towards Yishun. We will widen the existing Seletar West Link from dual 1-lane to dual 3-lanes.

Once completed, motorists who travel from Yishun Town to CTE, for instance, could save up to 10 minutes of travelling time. There will also be better traffic conditions along Lentor Avenue and Yishun Avenue 2.

Economy: More jobs near home
Residents of Yishun will benefit from employment opportunities in future developments close to home:

• Integrated transport hub at Yishun town centre and mixed-use development at Yishun Avenue 9
• Industrial developments along Yishun Avenue 6 and Gambas Avenue

NEW INTERGATED TRANSPORT HUB NORTHPOINT CITY

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 YIshun Seletar, residents 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.

NEW CONNECTIVITY

Thomson Line-  Rail Network by 2021

Thomson Line- More options of accessibility with lesser time travelled

                         

   

Stage 2: January 1 2020  -    December 31  2020

 

The second stage, which will be completed by 2020, will have 6 stations, stretching from Springleaf  MRT Station to Caldecott MRT Station. 

             

 

Stage 3: January 1 2021  -   December 31 2021

The last stage of Thomson Line TSL which is due to be completed by 2021, stretching from Mount Pleasant MRT Station to Gardens by the Bay MRT Station, Thomson Line TSL will serve 400,000 commuters daily. 

      

 

North- South Expressway- Connectivity will expand manifold

YISHUN EC LAND SITES DRAW TOP BIDS

SINGAPORE — Two adjacent Executive Condominium (EC) sites in Yishun Street 51 and Yishun Avenue 1 that can be developed into about 1,000 of such hybrid public-private homes attracted top bids totalling S$362.6 million at the close of tender yesterday. This was in line with market expectations, as cooling measures and loan curbs curtailed exuberance in developers’ bids.

The plot on Yishun EC Street 51, Parcel A, garnered six bids, with the top bid of S$178.5 million from City Developments unit Verwood Holdings and TID Residential translating to about S$330 per sq foot per plot ratio (psfppr).

The site has an area of 193,400 sq ft and a plot ratio of 2.8, and can yield an estimated 490 homes, the HDB said.

The slightly bigger plot on the same street, Yishun EC Ave 1 Parcel B, attracted eight bids, including those from all six developers that took part in the Parcel A tender. The highest bid of S$184.1 million, by JBE Holdings, which targeted only this site, worked out to about S$335 psfppr.

The site has an area of 196,600 sq ftand a plot ratio of 2.8, and can be developed into about 520 homes.

Under new rules announced last December, EC buyers are now subject to a Mortgage Servicing Ratio of 30 percent and second-time applicants who buy such units directly from developers will have to pay a resale levy.

While developers were cautious about overbidding in the current environment, competition for the Yishun EC sites was keen. For Parcel A, the margin between the top and third bid was about 3.1 per cent, while the difference was about 4.6 per cent in the case of Parcel B.

Mr Desmond Sim, head of property firm CBRE Research, said: “Developers are still hungry for land. The relatively small total quantum for the two sites has enticed a spectrum of developers, big and small, to place competitive bids. This area is fast becoming a nice enclave of private developments in an established housing estate.”

A CDL spokesperson said it had planned a development of 12 to 13 storeys with about 480 homes that will offer good views of the greenery and golf course, as well as of Lower Seletar Reservoir for units on higher floors.

"Compared to the Canberra Drive EC site, which fetched $350 psf ppr in January, the subject sites are about 4-6 per cent cheaper, but are more attractive as they enjoy views of the reservoir and greenery. With 10 previously awarded EC sites in the launch pipeline generating some 6,000 units, bidders would be expected to be measured in tendering for the sites," he said.

Expecting CDL-TID and JBE to launch their respective projects around the same period, Mr Mak said they will have to "take extra caution in their pricing strategy to compete with each other".

CDL-TID's top bid for Parcel A was 2.1 per cent more than the second highest bid of $323.29 psf ppr by Sim Lian Land. For Parcel B, the top bid by JBE was 4.5 per cent higher than the second-highest bid by the Singapore unit of China's Nanshan Group.

The Longkou City, Shandong-based group is involved in a range of fields, such as finance, high-tech industries, property and education. Parcel B can generate about 520 units.

As for Parcel A, a CDL spokeswoman said it will explore a 12 to 13-storey project with about 480 units . "Given the popularity of ECs and the site's breath-taking views of Lower Seletar Reservoir waters and greenery, we expect the development to be well received. Recent EC projects in the vicinity have enjoyed healthy uptake and there is limited supply of unsold EC units in Yishun," she added.

In January, a CDL-TID joint venture clinched the Canberra Drive EC site.

ECs are a public-private housing hybrid with initial buyer eligibility and resale conditions which are completely lifted 10 years after the completion of an EC project.

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