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reporter2
22-07-17, 23:19
Hundred Palms Residences fully sold on launch day

By Lin Zhiqin / The Edge Property | July 22, 2017


All 531 units at Hoi Hup Realty’s Hundred Palms Residences EC were snapped up when it was launched for sale today.

The EC received more than 2,000 e-applications between July 4 to 17, according to ERA’s Hundred Palms Residences Facebook page.

Hundred Palms Residences EC sits on a 198,302 sq ft site on Yio Chu Kang Road, in an established residential estate in Hougang. It comprises three-, four- and five-bedroom units across nine blocks, which have floor areas ranging from 883 to 1,636 sq ft.

“This project has done exceptionally well due to its location in the mature estate of Hougang, its reasonable pricing, as well as the good design,” says Jack Chua, CEO of ERA Realty Network.

anythingwhatever
22-07-17, 23:33
The Prophecy is true:


Attention All HDB Upgraders and Young Families!!!

Hundred Palms Residences is an Executive Condominium (EC) eyed for its affordable pricings and luxurious condominium facilities. This EC is an ideal home for young families and HDB upgraders looking for luxury housing around North-Eastern Region of Singapore.

3 reasons why Hundred Palms Residences is expected to be sold out during launch day.

1. Hundred Palms Residences - close proximity to mature estates, like Hougang, Serangoon and Ang Mo Kio. Young couples, whose parents are living at these mature estates, are competing for this EC so that they can take care of their parents or need their parents to take care of their children.

2. Limitation of 3, 4 and 5 bedrooms EC housings supply in this vicinity . In fact all the new EC in this area are either fully sold or left with the smaller size unit.


3. The Developer Hoi Hup Realty is a dynamic property developer established since 1983. Some of their previous sell-out projects include The Foresta @ Mount Faber, Emerald East, Sea Esta, Kovan Regency, Questa @ Dunman, Shelford 23,The Ford@Holland, Suites@Cairnhill and Waterford Residences which are all very well received by the market. Special mention also to deRoyale being awarded the Best Buildable Design Award 2007 Merit. Buyers can definitely have a piece of mind with their products! Hundred Palms Residences will uphold the same quality and standard , and with a housing grant of up to $30,000.

Don’t miss your best chance to grab this dream home now, Sign up with us the developer sale team to receive the first hand information about Hundred Palms Residences.
Time is of essence here, if you can gather all your information fast, you will be in the upper hand to make a fast decision to secure your unit faster than the rest. Sign Up now http://www.newlaunchguide.com/hundred-palms/ before it all sold.

http://www.newlaunchguide.com/hundred-palms/

PropVestor
22-07-17, 23:57
The Prophecy is true:

Another 500 more hopefuls coming into the private condo market after MOP. Can't wait.

Arcachon
23-07-17, 07:37
9 years to sell to Singaporean and 3 years old PR, 14 years to be call PC.

anythingwhatever
23-07-17, 08:03
English version:

https://www.theedgeproperty.com.sg/content/hundred-palms-residences-fully-sold-launch-day

anythingwhatever
23-07-17, 08:10
9 years to sell to Singaporean and 3 years old PR, 14 years to be call PC.

Actually, given that most buyers are SC or PR, not much differences in terms buyers pool between 9th and 14th year. :)

Arcachon
23-07-17, 08:16
Actually, given that most buyers are SC or PR, not much differences in terms buyers pool between 9th and 14th year. :)

3 years old PR not allow to buy direct from developer.

Citizenship

You must be a Singapore Citizen
At least 1 other applicant must be a Singapore Citizen or Singapore Permanent Resident
All singles must be Singapore Citizens if applying under the Joint Singles Scheme

http://www.hdb.gov.sg/cs/infoweb/residential/buying-a-flat/new/eligibility/executive-condominiums

Arcachon
23-07-17, 08:21
Citizenship
You must

Be an SC or SPR
Include at least 1 listed occupant who is an SC or SPR
SPR household (i.e. a SPR household with no SC owner): All SPR owners and essential occupiers will have to wait 3 years from the date of obtaining SPR status before they can buy a resale flat

http://www.hdb.gov.sg/cs/infoweb/residential/buying-a-flat/resale/eligibility-schemes

anythingwhatever
23-07-17, 08:31
3 years old PR not allow to buy direct from developer.

Citizenship

You must be a Singapore Citizen
At least 1 other applicant must be a Singapore Citizen or Singapore Permanent Resident
All singles must be Singapore Citizens if applying under the Joint Singles Scheme

http://www.hdb.gov.sg/cs/infoweb/residential/buying-a-flat/new/eligibility/executive-condominiums

OK, another limitation, but still not much differences lah... :)

Arcachon
23-07-17, 08:41
Terrasse nearby selling at about 1000 psf since 2011

EC selling at about 800 psf 2017.+6

9 years later guess what is the EC selling price 2026.+15

All 531 units at Hoi Hup Realty’s Hundred Palms Residences EC were snapped up when it was launched for sale today.

The EC received more than 2,000 e-applications between July 4 to 17, according to ERA’s Hundred Palms Residences Facebook page.

https://www.theedgeproperty.com.sg/content/hundred-palms-residences-fully-sold-launch-day

2000 able to buy but only 531 got it, guess what happened to the rest who did not buy.

https://propertynet.sg/project-launches-july-2017-hundred-palms-residences-le-quest-martin-modern/

anythingwhatever
23-07-17, 09:21
Terrasse nearby selling at about 1000 psf since 2011

EC selling at about 800 psf 2017.+6

9 years later guess what is the EC selling price 2026.+15

All 531 units at Hoi Hup Realty’s Hundred Palms Residences EC were snapped up when it was launched for sale today.

The EC received more than 2,000 e-applications between July 4 to 17, according to ERA’s Hundred Palms Residences Facebook page.

https://www.theedgeproperty.com.sg/content/hundred-palms-residences-fully-sold-launch-day

2000 able to buy but only 531 got it, guess what happened to the rest who did not buy.

https://propertynet.sg/project-launches-july-2017-hundred-palms-residences-le-quest-martin-modern/

The remaining spill over to other ECs 吧, Martin Modern is a totally different ball game altogether. :)

DC33_2008
23-07-17, 09:38
Just curious why so hot? One of the key reasons is the rosyth school. Shock to see one of those units with so large PES. This is at the expense of all the owners in the development: reduced common space. Imagine 11-12sqm of space for the smaller units of 8xx sq ft. Hope buyers really know what they are buying.

anythingwhatever
23-07-17, 09:54
Just curious why so hot? One of the key reasons is the rosyth school. Shock to see one of those units with so large PES. This is at the expense of all the owners in the development: reduced common space. Imagine 11-12sqm of space for the smaller units of 8xx sq ft. Hope buyers really know what they are buying.

Well, if you have seen the following Floor Plan before (Type B9), HPR ones are considered very "reasonable" :p

http://www.centralimperial.cos.sg/wp-content/uploads/2014/12/4.jpg

Amber Woods
23-07-17, 14:05
This EC sells well because of its location. For a 4-rm new BTO flat at Dokota Breeze selling close to 600K, it makes sense for first timers to buy into this EC.

tonymontana
23-07-17, 14:56
Actually, given that most buyers are SC or PR, not much differences in terms buyers pool between 9th and 14th year. :)

Actually EC is pretty good for living, at least all your neighbours will be singaporeans and some PRs, you won't have to contend with too many tenants and so on, and everyone will be buying for own stay.
I'm not surprised it's sold out. this location isn't very Ulu and quantum is reasonable.

DC33_2008
23-07-17, 15:16
It is not bad for this apartment owner but do you know what you cannot do for this PES. Do you know the The implication on other owners of this development? Developer is the only winner.
Well, if you have seen the following Floor Plan before (Type B9), HPR ones are considered very "reasonable" :p

http://www.centralimperial.cos.sg/wp-content/uploads/2014/12/4.jpg

Laguna
24-07-17, 14:01
http://www.channelnewsasia.com/news/singapore/hundred-palms-ec-in-hougang-sells-out-in-7-hours-9057104?cid=fbcna

Arcachon
24-07-17, 19:53
MSR an obstacle to EC sales
The main constraint in the EC market is the 30% mortgage servicing ratio, introduced in December 2013. “Sales are therefore not expected to be spectacular even with the raised income ceiling of $14,000,” says SLP’s Mak. “The additional $2,000 in household income will translate into an additional $600 a month available for mortgage payments.” He foresees sales picking up dramatically only when the government removes some of the property cooling measures.

https://www.theedgeproperty.com.sg/content/does-executive-condo-provide-arbitrage-opportunity

teddybear
24-07-17, 20:39
Many buyers probably didn't bother (not their problem) because they are intending to flip to the next greater fool within 3-5 years................ :chargrined:


Just curious why so hot? One of the key reasons is the rosyth school. Shock to see one of those units with so large PES. This is at the expense of all the owners in the development: reduced common space. Imagine 11-12sqm of space for the smaller units of 8xx sq ft. Hope buyers really know what they are buying.

star
24-07-17, 21:22
Alot of people do not know a future mrt station might be within 500m. I would say smart buy for this project. Saw a few rigs along the road near community centre area... cross island line to be ready in 2030 just nice can sold at handsome profit.

DC33_2008
24-07-17, 21:23
Had prewarned senior BCA management on large AC ledges 3 years ago but they did not take action. Wait until home owners complain then take action. Had told them the problem on dry wall construction of residential building but they only focus on productivity and lower cost construction compared to blockwall. They will realise the problem soon .
Many buyers probably didn't bother (not their problem) because they are intending to flip to the next greater fool within 3-5 years................ :chargrined:

anythingwhatever
24-07-17, 21:24
Alot of people do not know a future mrt station might be within 500m. I would say smart buy. Saw a few rigs along the road near community centre area...

CRL, ready by 2030: :)

https://www.lta.gov.sg/content/ltaweb/en/public-transport/projects/cross-island-line.html

https://www.lta.gov.sg/content/dam/ltaweb/corp/PublicTransport/img/cross-island-line-map.jpg

anythingwhatever
24-07-17, 21:47
Had prewarned senior BCA management on large AC ledges 3 years ago but they did not take action. Wait until home owners complain then take action. Had told them the problem on dry wall construction of residential building but they only focus on productivity and lower cost construction compared to blockwall. They will realise the problem soon .

Hope those Giant AC Ledge will be taken care of soon...

Unlike Balconies, these ACLs are really non-liveable spaces.

Should have stopped such nonsenses practices a long long time ago.

aspirations
24-07-17, 22:10
not that i wanna be sour grapes.. but seriously the CRL will only be ready in 2030 (Estimated.. usually 1-2 years later).. and thats about 15 years from now. FIFTEEN years. i wait for ERL until sian already. and thats ready in 2022/23....

teddybear
24-07-17, 22:17
Enough to see at least another 2 economic recessions in Singapore!


CRL, ready by 2030: :)

https://www.lta.gov.sg/content/ltaweb/en/public-transport/projects/cross-island-line.html

https://www.lta.gov.sg/content/dam/ltaweb/corp/PublicTransport/img/cross-island-line-map.jpg

PropVestor
25-07-17, 10:16
Enough to see at least another 2 economic recessions in Singapore!

Sometimes we just need to see abit further than where we stand. These infrastructure are there to future proof prices. If you are vested in those areas, your next buyer who sees these infrastructure will buy from you and you will stand to gain. The bigger question is, after so many lines are built, whats next? It is always better to live in the times of growth like now. I believe we are still at growth stage with unprecedented infrastructural investments and low interest rates combined. When borrowing costs in Singapore are so low, this is the best time to really invest in such train lines (DTL, TEL etc) as developers and contractors can borrow with lesser risk and get maximum leverage just like us.

Arcachon
25-08-17, 14:52
https://zuuonline.sg/property/local-properties/executive-condominiums-still-a-value-buy-in-the-current-market/

Arcachon
16-03-20, 18:03
https://scontent.fsin4-1.fna.fbcdn.net/v/t1.0-9/90205791_10158475276241122_840703959445274624_n.jpg?_nc_cat=100&_nc_sid=1480c5&_nc_ohc=T2rbb_1zhnsAX8h5ngq&_nc_ht=scontent.fsin4-1.fna&oh=aa110542327e9f3c9b23e57f9d56e354&oe=5E93BC5D

Call me before the unit is sold. More coming.