Home Blogs • The Entice of Government Condos within the Vicinity of Punggol – Singapore’s Bustling Waterfront Town

The Entice of Government Condos within the Vicinity of Punggol – Singapore’s Bustling Waterfront Town

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My initial stop by on the Lake District all through my remain while in the United kingdom was a unforgettable a person. I bear in mind sipping a cup of coffee in my minor apartment that neglected the lake and becoming enthralled from the rustic charms of nature that distribute ahead of my very eyes. What followed up coming was a tinge of despondence, with the lush greeneries and waters were something that I could not get in my beloved residence state lake grande, Singapore.

Now, fast-forward five yrs, and you could consider my enjoyment if the Singapore government introduced the rejuvenation of Punggol because the Waterfront Town from the twenty first Century.

Punggol as the Waterfront City in the twenty first Century

Traditionally a fishing village in addition to a sleepy estate in new many years, Punggol is now making the most of a radical transformation into an exciting waterfront town.

Within the heart of its growth is usually a 4.two km prolonged waterway that embodies three key design and style aspects: Green, Drinking water and people. This spectacular stretch of waterway includes a large assortment of things to do and services – from leisure to educational – all related alongside one another by the all-natural landscape of waters and lush greeneries. It really is no wonder why Prime Minister Lee Hsien Loong described the waterway being a “green lung in the course of our limited city”.

Make no slip-up, Punggol is not really all nearly undulating landscaped hills and blue waters. By 2015, there’ll be described as a new business hub and town plaza found appropriate within the MRT station, and also the town is poised to get as big as Ang Mo Kio (an immensely well-liked experienced estate in Singapore).

I strongly think that these are generally valid motives to produce an early financial investment in Punggol when the chance remains there.

The Lure of Government Condos

I listen to you check with – may be the opportunity to take a position even now there? Sure, and it lies within the Government Condominiums, fondly referred to as ‘ECs’.

ECs are part of public housing in Singapore but totally produced and bought by personal builders. It is a governing administration initiative that caters to homebuyers that are ineligible for your less expensive HDB flats but simply cannot find the money for selling prices of personal home.

Like a consequence, ECs are usually supplied in a significantly reduce quantum (typically priced 20-25% lower) when compared with a personal rental with very similar facilities, as a result earning the previous far more cost-effective.

On top of that, interested EC 1st time customers who’re suitable for your government housing grants (CPF grant) can get pleasure from a subsidy of up to SGD $30,000. This can be depending on the merged month-to-month money from the potential buyers. There is certainly also no resale levy for 2nd time purchasers. To be aware of more about the eligibility, you should check with the Housing Development Board’s EC Eligibility.

One of the most essential thing to consider for buying ECs could well be its robust possible for money appreciation. By performing a pattern examination, the values of ECs have risen substantially more than the decades because its introduction into the housing sector. Park Inexperienced, released in Apr 03 at $324 psf is now fetching $746 psf, a handsome financial investment for a lot of. Bishan Loft, introduced in 2001 at $421 psf, can now fetch previously mentioned $1000 psf. This interprets to a lot more than a 100% capital appreciation.

Soon after ten decades of ownership, the EC is going to be privatized and will be sold to foreigners. The flexibility to promote to a huge market essentially suggests that there is a larger industry of opportunity purchasers to provide the EC to.

ECs in the Punggol Vicinity

Thankfully for the quite a few that are serious about buying Punggol, you will find a couple of future EC launches inside the upcoming few months.

Located for the coronary heart of Punggol is Waterbay EC. The anticipated launch day is in Oct twelve. Other fantastic financial investment opportunities in the area consist of Heron Bay EC and Fernvale EC.

Now, fast-forward one more five a long time, after i am sipping my cup of espresso in the condominium that overlooks the normal landscape and blue waters, it is going to not be in the United kingdom, but in my beloved property, Singapore.

Property Assessment – Janice is often a promising agent at Singapore’s top assets company Era. She’s passionate and keen about supporting her shoppers invest inside the best attributes in Singapore.

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