If an owner of EC wants to move, they can buy another pte and do so after 5 yrs MOP right? Why must wait 10 years? Did i miss something?
Newbie
If an owner of EC wants to move, they can buy another pte and do so after 5 yrs MOP right? Why must wait 10 years? Did i miss something?
Junior
If you own private, you need to sell your private and wait for 2.5 years before you can APPLY EC. You will need to wait for 2-3 years for construction. And then stay there for 5 years. That is 10 years before you can buy another private.Originally Posted by acewee
If you don't own private. you just need to wait for construction years + 5 years.
Thaniks,
Richard
Junior
I stay in north, like the quiet place. But I have to say NV in Pasir Ris is better for money.
Virtually nobody is taking the shuttle bus to the showflat during weekdays. Only a few taking the bus in weekends.
Maybe we need a 5th University in the North to boost the price. It can be a university specialized in Solar Enegy, Clean water, etc.
Thanks,
Richard
Junior
10 years? Imagine 30 years old and still young and active wait until 40 years old and lau kok kok oredi then can shift. 10 years and the best part of your life in your thirties waiting (20s not considered best part because still accumulating wealth). That's why I cannot understand how anyone can wait 4-5 years for new launches. Maybe I'm the instant gratification type - at most can wait few months to collect keys.
Amk, wild, I guess we are all on the same track. Trust me, that guy who intend to buy over liverpool is someone who are willing to make a difference in life.
Junior
Lol, am I hearing right from the guru? U lock yourself for 10 years just to skip the stamp duty? Let's look at bigger picture shall we?
Junior
I congratulate your purchase if u bought NV, at least u did.
I am not keen becoz that plot of land has at least 4 developments in near future, just don't feel comfortable to compete with 1200 plus of households to sell off my property for profit. I'm just looking at investment point of view, for self stay, it is perfectly fine.
Senior
why no one update sales of this project? started selling this weekend right? how many sold?
Junior
Went there today. Agent said 90 units sold today. Total 400 plus units. I am not sure how many units have been sold during the balloting.why no one update sales of this project? started selling this weekend right? how many sold?
2 pent houses sold. The price is around 1.18m for 2100 to 2200 sqft or around 545psf - a breakeven price. (land costs was 281psf ppr) Total there are 12 units of pent houses. Very huge layout.
Average is about 680psf - 700psf. 4 bedder is going at 960k @ 8th floor.
The show flat is not very pack.
The location is very deep in which I think attracts only Yishun upgrader.
The 5% quote for 2nd time buyer has been filled and learnt from agent many were turned away until one month later.
No tennis court but there is one badminton court.
I dont feel that the site layout is good as the inner stack may not have any airflow.
Last edited by rattydrama; 17-10-10 at 19:42.
Newbie
It's ok to disagree. I am making a prediction only. You can play in ECs which are just above 5 or above 10 years too. Not necessary to start right from the bottom - booking time.
Oct 17, 2010
property
ECs may be better investments than private housing
Prices of some ECs have gone up more than mass market private condos in same area since launch
By Esther Teo
-- LIANHE ZAOBAO FILE PHOTO
Are executive condominiums better investments than private housing? They may well be, if price gains are anything to go by.
Some executive condominiums (ECs) - the poshest type of public housing - have gone up more in price over the years than private mass market condominiums in the same areas, a check by The Sunday Times has found.
ECs such as Bishan Loft, Woodsvale in Woodlands and The Eden in Tampines have beaten the big boys by chalking up higher price gains compared to nearby mass market condos launched during the same periods.
Pinevale, for example, an EC in Tampines launched in 1997 at $450 per sq ft (psf), has seen an average selling price of $569 psf for its 13 transactions this year - an increase of 26 per cent.
Nearby, however, Hong Leong's 537-unit The Tropica - also launched in 1997 - has sold at an average of $663 psf this year, an 11 per cent increase from its launch price of $600 psf.
ECs were first introduced for homeowners with rising housing aspirations and whose household income is above $8,000 but below $10,000.
They are more popular when the gap between public and private housing widens and lose popularity when mass market condos become more affordable.
The last EC launch was La Casa in Woodlands in 2005 before Esparina Residences near Buangkok MRT station was launched this month.
ECs, like other Housing Board (HDB) flats, are subject to a minimum occupation period (MOP) of five years. After that, they can be sold only to Singaporeans and permanent residents. They become private property after 10 years, and can then be sold to foreigners.
They are usually priced up to 25 per cent lower to compensate for these sales restrictions and thus start off from a lower base, experts say.
They note, however, that since EC owners need to meet a MOP of five years, they might not be able to profit even if residential capital values are on the uptrend.
Mr Png Poh Soon, Knight Frank senior manager of consultancy and research, said that an analysis of the ECs that have met their MOP has shown a 66.9 per cent price appreciation from 2004 to this year.
This is higher than the 51.8 per cent price increase in mass market residential homes based off the change in the Urban Redevelopment Authority price index of non-landed properties outside the central region, he said.
'Interestingly, the price gap of ECs narrowed significantly with nearby properties after the fifth-year mark,' he added, with location playing a significant part in the rate of price appreciation.
However, some experts say that buying an EC requires some good luck and timing if an owner is looking for an investment as well.
Mr Colin Tan, head of research and consultancy at Chesterton Suntec International, said that ECs which serve the so-called sandwich class thrive only during periods of high property prices.
'The quality of ECs is still generally inferior to that of private property. When private property prices decline, the difference in quality will show and ECs will become less popular...So if you need to invest in ECs, you need to time your entry and exit,' he added.
DMG and Partners analyst Brandon Lee added that historically, EC prices have shot up only when mass market prices increased since demand for mass market condos would filter into ECs that have fulfilled their MOPs.
Buyers however are still biting, with recent launches of ECs - the first in five years - such as Esparina Residences, and The Canopy in Yishun Avenue 11, receiving keen interest.
But Knight Frank's Mr Png added that as the Government launches more EC sites, not all will be equally attractive.
Interested buyers should assess the location of the development, as well as how much lower the price of the EC units will be compared with surrounding private properties, before making a purchase.
[email protected]
Timing crucial for investors
'The quality of ECs is still generally inferior to that of private property...So if you need to invest in ECs, you need to time your entry and exit.'
MR COLIN TAN, head of research and consultancy at Chesterton Suntec International. The Bishan Loft EC has chalked up higher price gains than nearby mass market condos.
Senior
that's a great update.
Junior
You strike my mind. Ya hor, no coverage. China developer MCC need to emply PR manger to pump up the heat and pass the costs to the buyer. FEO is very good in this.
It is no good to see less crowd during first day of launch.
My suggestions
magic show and ballons for kids and after brunch and even free petrol vouchers for viewers .. If they were to introduce that, think show flat will be packed.
Senior
sporean ..anything free they will chiong there
last time ... pump petrol ..receive 1 box of tissue paper ..people also rush there
Senior
but u went on sun, maybe sat was better? hee but i doubt it was crowded or anything close to esparina. yah hor, already have free shuttle bus but still no strong turnout rite? but having shuttle bus is actually a turn off, tells u that location not good liao hahaha
Junior
Since so deep-in, only Yishun Upgrader will go and view this EC... so the developer should have a back up plan and activate the back up plan for Sunday if there is no crowd.
Go for Smallest Unit
This is so deep in Yishun. The suspected slasher has been arrested. Strictly for self stay only.
Exalted
mass market condos/EC must have MRT unless cheap cheap
Newbie
great insight. Look at launch price of Lilydale.. stagnant for a while before picking up. Thanks to The Estuary and the Canopy. Can it achieve what they did again? Take your bet.mass market condos/EC must have MRT unless cheap cheap
Junior
they have ice cream, maybe they didn't advertise. My kids also had a good time in the play room with the toys and drawing. even bring back some to colour. It was an enjoyable outing..
Junior
they should announce it. I guess the developer is too confident.
Read from today's paper only 100 units in total are sold including 20 units snapped within minutes by 2nd time buyers on first day of sales.
Exalted
nowadays, any mass market condos/EC near ANY MRT == gd condo
the reverse is so so true....
Junior
reverse true? rental yield not very good.
Newbie
it all boils down to location....but if you got a car, shouldn't be too incovenient. however, i took a walk around and found there isn't much amenities...very quiet area on the whole. But i think should be good/ popular with upgraders because the pricing is quite reasonable...for them.
Junior
Isn't there shops, coffeeshops, ntuc just beside? what kind of amenities you're referring to?
Newbie
i am staying nearby... Heard the sales is bad, hope to get a unit. Anyone manage to get a unit?
Go for Smallest Unit
Hows de sale so far? I passed by yesterday and it was pretty quiet. Whats the price range?
Junior
530psf to 680psf
Go for Smallest Unit
Thanks, that will make mass market condos near mrt at 700 psf a value buy right?
Junior
this project is out of the normal range, its hidden... how near is near? 1km, 500m or 2km? which area you compare with?
generally 700psf is a good deal if you can get for a 2 bedder.
Go for Smallest Unit
Orchid Park is very cheap.
Newbie
Visited last week. I noticed that its one of few (if any) development that indicates aircon brand at point of sale. In this case, its Daikin. Agent also tried to highlight that as developer is pretty new, they try to provide more quality stuff. Anyone notice any note-worthy stuff?
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