Copen Grand EC – 100% Sold Within One Week Shows Demand For ECs
During a recent event at the Copen Grand, the latest EC from the popular developer Copen Land, all units were sold out within a week. This is a good sign that demand for ECs is strong. ECs are an alternative to buying a condominium in Singapore. It is also one of the more affordable options available in the city.
Average launch price of a new launch EC in Singapore
Currently, the average launch price of a new launch EC in Singapore is approximately $1,315 psf. However, this is still lower than the average price of private new launches, which is now above $2,100 psf. These new launches have also shown a strong underlying demand. EC housing is affordable, and offers an entry point to the condominium segment. It’s also a good option for middle-class families.
With more EC launches coming up in the coming years, we’re likely to see the average launch price of a new launch executive condominium rise to at least $1,200 psf. While the average price is still lower than the price of private new launches, it offers a good opportunity for growth.
A lot of new launches have been completed in the last two years. These developments were mainly in the north and northeast regions. The demand for executive condominiums is also high in Singapore. The majority of the units are three-bedroom units, but a third of the units are large enough to accommodate larger families.
Top schools in Singapore
Developed by MCL Land and City Developments Ltd (CDL), Copen Grand is the first EC to be developed in Tengah Town. Located on Tengah Garden Walk, the project is just minutes away from the MRT station and bus interchange. It is also near Jurong Innovation District and smart eco-town.
Tengah Town is Singapore’s first smart sustainable town, combining environmentally friendly features with discerning design sensibilities. In addition, it is also located close to three upcoming MRT stations on the Jurong Region Line. The development will include a community club and sports centre.
The development will also include an integrated community hub and medical care facilities. Residents will also benefit from the MRT network once they collect their keys. The Town Centre will feature restaurants and eateries.
Connectivity to MRT stations on the upcoming Jurong Region Line
Commuters can now have a say in the design and construction of the new Jurong Region Line (JRL), which is currently under planning. Currently, JRL is targeted for completion in 2029. This will extend the reach of the rail network in Jurong. It will also help to improve connectivity in the region.
The new Jurong region line is planned to connect key activity nodes in Jurong. This will help to make Jurong an attractive place to live.
The new Jurong region line will include 24 stations. These stations will connect to existing MRT lines, allowing for better travel options. This will also help to increase the resilience of the rail network. This will enable commuters from northern Singapore to travel to the Jurong region.
Resale vs resale flats
Purchasing an HDB resale flat is a cheaper alternative to getting a new home. You can choose from a range of HDB flats, including executive apartments, executive condominiums (ECs) and executive maisonettes (EMs). In fact, the HDB resale flat market has gained popularity in recent years.
The HDB resale flat market is estimated to increase to over 28,000 units by the end of 2022. This is expected to benefit first-time buyers who want to upgrade to a higher-end property.
There are several factors to consider when deciding between a resale flat and a new home. For instance, you’ll have to consider your financial situation before making your purchase. You’ll need to check how much you can afford, your housing loan repayment capability and whether you can use your CPF funds to pay for the property.
EC regulations for second-time buyers
Located at Tengah Town, Copen Grand is the first executive condominium in Singapore. It is also the first luxury EC to achieve the BCA Green Mark Platinum Super Low Energy Award. It is expected to receive a healthy demand.
It is located near Tengah Boulevard Bus Interchange, Tengah MRT station, and the future Tengah Integrated Transport Hub. It is also close to the smart and sustainable town of Tengah. It is also near the future community club, sports centre, and thematic playgrounds. It also has quality amenities, such as dedicated farming and gardening spaces, fitness stations, and rainforest-themed playgrounds.
The project will feature 12 blocks of up to 14 storey high. The maximum GFA will be 61,659 sq m. The unit sizes range from 807 sq ft for a two-bedder plus study unit, to 1,722 sq ft for a top-floor five-bedder unit. These units are priced at an average of S$1,300 per sq ft (psf).
Second-time buyers will be allocated 30 per cent of the units during the launch. Interested second-time buyers can register from Nov 17 to Nov 23. They will then be able to make bookings for their units in one month’s time.