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 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.
The Housing and Development Board (HDB) has sold a residential site for the development of EC as part of Government Land Sales (GLS) in the 4th quarter 2020. This land parcel is set in North Region of Singapore, along Yishun Avenue 9, is listed under the confirmed list of sites and is allocated to be developed into Executive Condo (EC) site. It has a plot land size of 231,576 square feet and is estimated to house 600 housing units.
New EC at Yishun Avenue 9 is the newest EC site in this locality to be offered on the GLS since 2014 after The Criterion (completed 2018) and Signature at Yishun (completed 2017). It is next to Symphony Suites (completed in 2018) which have transacted at an average price of S$1,123psf in 2020 year-to-date. Nine Residences, part of a retail/ residential mixed development on Yishun Avenue 9, completed in 2015, transacted at an average of S$1,070psf in 2020 year-to-date.
Sing Holdings won the top bid of S$373.5 million and this translates into a land rate of S$576psf ppr. The estimate break-even cost is approximately S$1000psf.
New EC at Yishun Avenue 9- Amenities
New and upcoming Yishun Avenue 9 EC is located within short walking distance to Juntion 9 where residents can access to its food court, supermarket, restaurants and also the retail shops with its 3 storey of retail podium with 129 shops and 17 restaurants. Bus services are also available near New EC at Yishun Avenue 9 which will bring its residents to Yishun Town Centre where residents can go to Northpoint Shopping Centre where many dining, shopping, entertainment and leisure facilities are hosted.
Yishun Town Centre also hosted a wide array of shophouses and eating places where New EC at Yishun Avenue 9's’ residents can get their basic necessities. In future, Yishun Central will have an integrated hub comprising of an air conditioned bus interchange, retail and residential units all under 1 development. This development will have a estimated retail space of 360,000 square feet. This will provide more options to Yishun Avenue 9’s future residents in terms of dining, eating, leisure and entertainment facilities.
If future residents of New EC at Yishun Avenue 9 wishes to explore the neighbourhood mall, they can head down to Chong Pang City, a famous neighbourhood cluster of shophouses, wet market and food centre. New EC at Yishun Avenue 9 residents can find many fresh market produces and cheap and local delicacies over at the Chong Pang Market & Food Centre. The upcoming Yishun Food Centre which will be located along Yishun Avenue 9 will provide a wide array of selection for New EC at Yishun Avenue 9 future residents when it is completed.
New EC at Yishun Avenue 9- Education
Established schools such as Xishan Primary School, Chongfu Primary School, Huamin Primary School, North View Primary School, Yishun Primary School, Ahmad Ibrahim Primary School, Northland Primary School, Jiemin Primary School, Northland Secondary School, Yishun Town Secondary School, North View Secondary School, Northbrooks Secondary School, Ahmad Ibrahim Secondary School, Yishun Secondary School, Chung Cheng High School (Yishun) and Yishun Junior College, are just within close proximity to New EC at Yishun Avenue 9.
New EC at Yishun Avenue 9- Connectivity
New EC at Yishun Avenue 9 is approximately 1.2 km away from the town centre, where Yishun North South Line Station and Yishun Bus Terminal are located. This comprehensive public transport system provides seamless traveling for New EC at Yishun Avenue 9's residents to downtown Singapore and various parts of Singapore.
The nearby expressways are the Seletar Expressway (SLE) and the Tampines Expressway (TPE) and the Central Expressway (CTE) which help to ease New EC at Yishun Avenue 9 future residents when driving to different parts of Singapore.
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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 | Yishun Avenue 9 EC |
| Developer | Sing Holdings |
| Location | Yishun Avenue 9 |
| District | 27 |
| Tenure | 99 years lease |
| Site Area | 21,514 square metres/ 231,576 square feet |
| GFA: | |
| Plot Ratio | 2.8 |
| Expected TOP: | |
| Total Units | Approximately 600 residential apartments |
| Total Carpark | |
| Development | Executive Condo comprising of communal facilities |
| Unit Type: | |
| Architect | |
| Eligibility | SC/ SC and SC/SPR can buy |
LOCATION and AMENITIES
Amenities Near New EC at Yishun Avenue 9
| Category | Important Amenities Near Yishun Avenue 9 EC | Approximate Distance |
| Train Stations | Yishun (NS13) | 1.2km |
| Bus Stop | Opp Blk 254 (Bus: 811) Blk 254(Bus: 811) |
0.3km 0.3km |
| Supermarkets | Fairprice (239 Yishun) Giant (293 Yishun) Cold Storage (Northpoint) Sheng Siong (925 Yishun) |
0.5km 0.7km 1.1km 1.1km |
| Shopping Malls | Junction 9 (U/C) Northpoint Shopping Centre |
0.3km 1.1km |
| Education Institutions | Preschool | |
| PCF Nee Soon East Blk 312 PCF Nee Soon Central Blk 367 PCF Nee Soon East Blk 227-223-225-234 PCF Nee Soon East Blk 277 PCF Nee Soon East Blk 408 Darul Makmur Mosque Kindergarten Iman Kindergarten (Yishun) PCF Nee Soon Central Blk 737-738 PCF Chong Pang Blk 122 PCF Nee Soon Central Blk 646-644 |
0.5km 0.6km 0.8km 0.9km 1.1km 1.1km 1.3km 1.4km 1.5km 1.6km |
|
| Primary | ||
| Xishan Primary School Chongfu Primary School Huamin Primary School North View Primary School Yishun Primary School Ahmad Ibrahim Primary School Northland Primary School Jiemin Primary School |
0.6km 0.7km 0.9km 0.9km 1.2km 1.3km 1.6km 1.7km |
|
| Secondary | ||
| Northland Secondary School Yishun Town Secondary School North View Secondary School Northbrooks Secondary School Ahmad Ibrahim Secondary School Yishun Secondary School Chung Cheng High School (Yishun) |
0.5km 0.7km 0.8km 1.5km 1.6km 1.8km 1.9km |
|
| Junior College | ||
| Yishun Junior College | 1.9km | |
| Tertiary | ||
| Nanyang Polytechnic | 6.1km | |
| International | ||
| Chatsworth International (Jalan Kayu) | 5.8km | |
| Food Centre | Yishun Food Centre (U/C) Chong Pang Market & Food Centre |
0.9km 1.8km |
| Lifestyle | Safra Yishun Country Club Yishun Park |
1.2km 1.3km |
FACILITIES SITE and FLOOR PLAN E-BROCHURE
The Facilities Site and Floor plan of new EC launch at Yishun Avenue 9, 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.
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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 of New EC at Yishun Avenue 9 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
SING HOLDINGS WON TOP BID FOR YISHUN EC LAND SITE AT AVENUE 9
The executive condominium (EC) site at Yishun Avenue 9 attracted seven bids, which is in line with the seven to nine bids for EC plots following the cooling measures in July 2018.
With a leasehold tenure of 99 years, the site has an area of 21,514 sq m and a maximum GFA of 60,240 s m. It is about 1.4km from the Yishun MRT station and is expected to yield around 600 housing units.
Sing Holdings submitted the highest bid of $373.5 million or $576 psf ppr.
Wong Siew Ying, Head of Research and Content at Propnex noted that the top bid of $576 psf ppr is “the highest for an EC site following the $578 psf ppr for the Tampines Avenue 10 EC site awarded in January 2019 and the record of $583 psf ppr for the Sumang Walk EC site that was successfully tendered in March 2018”.
She added that the keen interest for the site was unsurprising since end-user demand is expected to be robust, given that the last two EC sites (The Criterion and Signature At Yishun) sold within the area were in May 2014.
And since EC developers have to wait 15 months after acquiring a site before they could launch the project for sale, the Yishun Avenue 9 EC development would only be launched in 2022.
“By then, it is likely that the impact of COVID-19 would be weakened and that the Singapore economy will continue to recover, albeit gradually,” said Wong.
The site set a new benchmark launch prices for their respective markets and asset classes in the future.
Wong, on the other hand, expects the future EC development on Yishun Avenue 9 to be launched from $1,100 psf to $1,200 psf.
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