Executive condominiums (EC) are an innovative form of property developed by private developers but sold at government-subsidized pricing, making them an appealing alternative for middle-class Singaporeans who desire a private condo but cannot afford an HDB resale flat.
However, these properties come with certain restrictions that must be observed and are generally located near the edges of an island to keep costs competitive. Still, owning an EC may present certain advantages.
1. Location
Location plays an integral role in determining the price and appeal of an executive condominium (EC). Ideally, it should be located in an established neighbourhood close to top schools as well as accessible public transit networks and nearby business hubs.
Location is of vital importance in an EC, particularly for first time buyers. RiverTrees Residences’ proximity to amenities – particularly Punggol Waterway and Jalan Kayu with many shops and eateries – as well as established schools makes this development attractive to multi-generational families.
This EC is conveniently situated just minutes away from Thanggam LRT station and Fernvale LRT stations, as well as Seletar Mall and Greenwich V shopping malls, making it an excellent location for anyone considering purchasing property in Singapore’s eastern region. Additionally, its location provides access to major highways including Central Expressway, Tampines Expressway, Kallang-Paya Lebar Expressway etc – perfect for homebuyers searching for their new place of residence!
2. Amenities
Are you seeking the ultimate combination of luxury and convenience in Singapore? Look no further than an Executive Condo (EC). These public-private hybrid properties boast a host of amenities and services, such as concierge service and 24/7 security patrols – not to mention being more cost effective than private condos with their 99 year leases!
While ECs are similar to private condos in terms of size and features, they’re subject to stringent HDB rules that limit them – including a five-year minimum occupancy period in which owners cannot sell or rent out their units; after 10 years however they become fully privatized and can be sold freely on the open market like any other property.
ECs are designed with residents’ needs in mind, featuring amenities like multi-purpose function halls and playgrounds to foster community spirit and encourage a healthy lifestyle. Furthermore, their proximity to workplaces and transport systems make ECs an excellent investment choice for people working long hours.
3. Convenience
Executive condominiums (ECs) provide luxurious living without the skyrocketing property prices of traditional private properties, offering amenities like swimming pools, multi-purpose function rooms, BBQ pits, playgrounds and more at an affordable price point.
Owners of an EC can sell it only to Singapore citizens and Permanent Residents during its initial five year Minimum Occupation Period; after which, foreigners can also buy it.
Blk 447B Jalan Kayu Estate is situated at the heart of Fernvale and only minutes away from Thanggam LRT Station and Jalan Kayu Food Street. Additionally, nearby redevelopments such as High Park Residences and Fernvale Point can also be reached easily on foot.
4. Value for money
Due to government subsidies during their development phases, ECs tend to be cheaper than private condominiums – offering a more affordable way for sandwich class members who wish to experience condominium living but cannot afford its higher prices.
Parc Greenwich is located near the tranquil residential enclave of Seletar Hills and provides young families with modern homes that support an idyllic lifestyle. It has been developed around the concept of “Home in an Urban Village”, featuring 52 holistic facilities to address every aspect of daily living.
This new launch EC is located within minutes of Seletar Mall, Greenwich V and Jalan Kayu eateries – and also within short driving distance of the Seletar Aerospace Industry Cluster, Tampines and Changi Business Parks. Furthermore, buyers who qualify can apply for the $30,000 CPF housing grant grant and make this their home!