Sales Data Shows That Executive Condominiums Near MRT Stations Are More Popular
ECs near MRT stations tend to be more popular than those located further away, according to recent sales data. This is good news for Singapore home buyers who wish to purchase a property near a MRT station. In addition, this is good news for developers and investors of ECs, as it means they can expect higher rental yields.
Tengah Plantation Loop EC
Located within the Tengah town, Tengah Plantation Loop Executive Condominium will be a smart development with green amenities. The development will include a 1.5-km forest fringe walk, a central park of 20 hectares, and a multi-storey car park. The development will also be able to monitor the amount of energy used by residents. It will have a mobile app so that residents can keep track of their neighbour’s usage.
Tengah Plantation Loop EC is a great choice for young professionals. The EC is ideally located near the city centre, several schools, hawker centres, shopping malls and public transport stations. It is also known for its affordable land rates.
Executive Condominiums cater to the needs of the’sandwich class’
Designed to cater to the needs of the “sandwich class”, Executive Condominiums (EC) offer a unique combination of affordability and luxury. These public-private hybrid properties are built on government land sales (GLS) and are designed to offer the amenities of private condominiums while offering cheaper construction costs.
Generally, ECs are smaller than private condos and are located in suburban areas. Many ECs are not close to MRT stations, which can hinder a daily commute.
However, ECs offer some unique features that private condos do not. For example, ECs have 24-hour concierge services. Many also have state-of-the-art security systems. In addition, ECs allow homeowners to control utilities from any room in the building.
ECs vs private condos
ECs have surpassed private condominiums in many ways. They are cheaper, have more amenities, and are located in better locations. They are also designed with more finesse than their private counterparts. However, there are some downsides to owning an EC.
For one thing, you can’t sell your EC until you have owned it for a decade. You can also’t rent it out in the first five years. That’s because ECs have regulations that forbid you from doing so. It’s also important to keep in mind that ECs are only sold to Singaporeans and PRs. If you’re buying an EC from a developer, you’re bounded by resale levy and other restrictions.
Cross-border business-to-consumer (B2C) EC business
Whether you’re a brick and mortar store or online retailer, cross-border business-to-consumer (B2C) EC business near MRT station is more popular today than it was just a few years ago. The reason is simple – you get to tap into a global market and engage more consumers. Similarly, you get to shave a significant chunk off your costs.
For Australian businesses looking to get into the ecommerce game, there are a few steps you need to take to get started. First, you’ll need to engage a reputable freight company. In addition, you may need to open an offshore bank account. Once that’s done, you can begin sending your goods to markets around the world. Using a third party logistics company or a dedicated freight carrier can help cut costs on shipping and ensure your goods get where they’re going, a lot faster.
Compared to the other new launch ECs in the east, Tenet EC is expected to have a better reception. Its location in Tampines is close to MRT station and other amenities, which adds convenience to its residents.
Tenet is designed by Ecoplan Asia and ADDP Architects. It has eleven blocks of 15-storeys each. The blocks have northeast and southwest exposure. These areas have the benefit of avoiding direct afternoon sun most of the year.
The project is scheduled for completion in 2026. This is a relatively short period to complete ECs in Singapore. Yen Chong, CEO of Qingjian Realty, expects that there will be keen demand for Tenet units. The project’s developers are keen to provide residents with facilities that enhance their living experience.
Tampines St 62 (Parcel B)
Located near the future Tampines North MRT station, Tampines St 62 (Parcel B) is the latest Executive Condominium development to be launched in the Tampines region. With over 700 units, the site is expected to sell for between $580 psf ppr and $620 psf ppr. The land parcel is leased out to developers by the Housing & Development Board.
The site has a gross floor area of 70,001 sqm. The maximum building height is 64m SHD. It is located on a plot that is zoned for Executive Condominium Housing Development. The site is also on the Reserve List of the Second-Half 2020 Government Land Sales Programme.