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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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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 |
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 |
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’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.
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.
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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