Why is Tampines St 62 EC a good buy?

2 99-year leasehold land parcels offered as part of the Government Land Sales Program have each brought nine quotes at state tenders.

One is a land parcel for a residential housing development with commercial room on the first storey, located beside the upcoming Lentor MRT terminal on the Thomson-East Coastline Line; and also an additional is a land parcel for an executive condo (EC) housing along Tampines St 62. ECs are a public-private housing hybrid.

For the EC land parcel in Tampines St 62, the top quote of S$ 422M or nearly S$ 659 psf ppr tendered by a consortium comprising a Qingjian Realty as well as Octava Pte Ltd joint venture and Santarli Realty.

If people believe the Tampines St. 62 EC price is high, time to think about Canninghill Piers which will be sold above $3k.

The Tampines St 62 EC development is approximately 1 km from the Pasir Ris MRT station, near nature parks such as Tampines Eco Green Park as well as Tampines North Blvd Park. It is also located towards the south of Tampines Meridian Junior College. Close-by institutions are Poi Ching Primary School, Gongshang Pri school, Elias Primary, etc.

Image from: Tampines St 62 EC https://tampinesnorth-ec.com/
Tampines St 62 EC location map Inspired by the wonder of nature's terrace landforms, Tampines St. 62 EC is a strong architectural interpretation of all-natural splendour. A classic style qualified by rotating terraces of green greenery, water waterfalls and undulating terrain. An extremely preferable address to call home, its property status leaves a long-term tradition for generations to appreciate.

Tampines St 62 EC is in the first Regional Centre in Singapore as well as mature estate with renewed restoration. There will certainly be plenty of opportunities past 2030 - 800 hectares of change at your doorstep with the moving Paya Lebar Airbase in 2030.
Tampines is a popular location with EC customers. Parc Central Residences at Tampines Street 86, which was introduced in January this year, is about 86% sold, attaining a typical price of $1,173 psf.

Tampines North Boulevard Park
Piermont Grand was sold at a typical rate of $1,151 psf, and Parc Central Residences at $1,173 psf. For that reason, an average asking price of above $1,200 psf for brand-new ECs could be achieved when the Tampines St 62 EC is launched.

Tampines is the third-largest brand-new community in Singapore by location, covering over 2089 hectares of land, as well as also is the 3rd most populated new community, adhering to Bedok and also Jurong West. It is the local centre for the East Area.

The potential of the EC in Yishun

The tender for the exec condo (EC) land parcel at Yishun Avenue 9 was awarded to Sing Holdings Limited, after it persented the leading quote of $373.5 million, claimed the Real estate and also Development Board (HDB) on Friday 20 November. Launched available on 30 Apr, the 99-year leasehold parcel has a location of 21,514.0 square meter and also an optimum gross flooring area of 60,240 sqm. It can yield as much as six hundred real estate units. The tender for the land parcel closed on 29 Oct 2020, with seven bids got. The Yishun EC project is located in close proximity to a plethora of amenities. The project is a few minutes' walk away from Yishun and Khatib MRT Station. The rest of Singapore is also highly accessible via TPE, SLE, CTE, and the future North-South Corridor (NSC). Drivers will find the future North-South Corridor (NSC) that makes travelling into the city a lot faster. The NSC with 21.5 km route will run both underground and above ground from Woodlands to CBD. Express bus services will run along the route on dedicated bus lanes and the cycling trunk route will be established along NSC. Yishun Ave 9 EC location map
Source: Yishun EC www.yishunec-sg.com

The new EC @ Yishun Ave 9 is also an ideal home for families with children since it is nearby Chongfu Primary School, Northland Primary School, Chung Cheng High School and Yishun Junior College. Khoo Teck Puat Hospital and a community hospital nearby will help to fulfill the healthcare needs of the residents. ECs are often said to "make money" right after the 5 year Minimum Occupation Period (MOP). Some believe prospective buyers are easy to find for resale ECs-- only the 1st batch of buyers are faced with the MOP, and the theory is that any buyers would be purchasing closer to the date of full privatisation. Parc Botania

The Yishun site is quite large, and experts predict that it can yield about 600 homes. It's also expected to have a good view of the Khatib Bongsu nature park, once NParks completes it. Yishun, originally known as Nee Soon, is a town located in the northeastern corner of the North Region of Singapore, bordering Simpang and Sembawang to the north, Mandai to the west, the Central Water Catchment to its southwest, Ang Mo Kio to its south, and Seletar and Sengkang to its east.

Penrose at Sims Drive is launching soon

Penrose is a upcoming project that is located right at the heart of Geylang and Sims Drive by Hong Leong Holdings' Intrepid Investments and City Developments Ltd. The developers submit a top bid for the 174,648 sq ft of prime land that sits at the city fringe in the heart of Aljunied and Geylang. The top bid for the land was measured at $732 psf per plot ratio and it is estimated that about 570 units can be constructed on the plot of land. The project enjoys close proximity to major transportation routes including Aljunied MRT Station as well as Kallang-Paya Lebar Expressway and the Pan Island Expressway for owners who are taking their own cars. It is a mere no more than 15 mins drive to the Central Business District (CBD). The condo combines the convenience of being located near to the city and the prices are not that high compared to core city centre developments.

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The 99 years leasehold project on the 174,648 sqft land size will be developed into a prime city fringe condo that consist of 570 units with several 17 or 18 storeys that will comprises of 560 Units of prime city fringe residential units that is located near to Aljunied MRT Station. Given that the land was secured at $732 psf ppr, it is estimated that the selling price for Penrose will be around $1,400 psf which is considerably low for a city fringe development. Penrose condo falls under the new ruling by URA that dictates that the average size of the condo to be around 85 sqm which means that the units will be bigger and more comfortable for own stay. With more plans now to transform Paya Lebar into a residential and transport hub, Penrose location is an ideal opportunity to own a city fringe condo at mass market prices.

Penrose sites on a prime piece of land that located near to many established schools with good records. Penrose location is near to schools such as Geylang Methodist School, Canossa Catholic Primary School, Cedar Primary School and Kong Hwa Primary School. These schools are long established and have a good records with many of the previous students as well. Also, with the selling price of Parc Esta as well as other nearby projects that is already selling at $1,600psf, the selling price if at $1,4xx psf located nearer to the city compared to other developments suggests that the selling price for Penrose is actually cheap.

What to expect from the upcoming Parc Central Residences?

Pasir Ris is a planning area and residential town located in the East Region of Singapore. It is bordered by Tampines and Paya Lebar to the south, Sengkang to the southwest and Changi to the east. The planning area also shares riverine boundary with Punggol to the west, separated by the Serangoon River, as well as having a maritime boundary with the North-Eastern Islands planning area, across the Straits of Johor.

Parc Central Residences, is located along Pasir Ris Central, Pasir Ris Drive 3 and 5 with MRT Station within very walking distance. It is also located beside Pasir Ris One and Pasir Ris Town Park. Parc Central Residences showflat is currently under construction and should be ready soon in 2020 likely h1. The gallery show suites when launch is going to be preoccupied and walk-in is surely not suggested.

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Parc Central Residences is a white site next to Pasir Ris MRT Station, and it was awarded to Allgreen Properties and Kerry Properties by HDB. The winning bid is nearly $700 million, which works out to $684.48 per square foot per plot ratio (psf ppr) based on total gross floor area of 1.02million sqft.

The estimated breakeven price of Parc Central Residences is around $1,176 psf. Parc Central Residences launch price may range from $1500 psf onwards.

Parc Central Residences takes only 8-10 min drive to reach airport. With the newly completed Project Jewel and on-going Terminal 5 expansion, more employment will be drawn to the area in the next decade. Not only that, Parc Central Residences is close to Tampines Regional Center as well as Loyang Industry estate.
Coming to 2029, with the completion of 1st phase of Cross-island Line linking Changi to Bright Hill, Pasir Ris station will become an Interchange. The new line will shorten journey time to other parts of Singapore by upto 70 mins, it will also serve as alternative to East-West Line when it’s fully completed.

Pasir Ris Central Creates Double Concept Food World

The Pasir Ris Central Hawker Centre, which will be operated by the NTUC Rich Diners Co-operative, will be seperated into 2 sections and the ground floor will consist of 20 cooked food stalls selling local popular traditional hawker food. FAREGROUND @ Upper Deck on the second floor will launch a new generation of hawkers, as well as Western or Chinese and Western food, or Italian, French or Japanese food. There are 22 booths on this floor.

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In addition to the international food on the second floor, the dining atmosphere is more new. It will be transformed into a social space for friends and kindred to gather and chat. In addition to dining together, you could also relax with two drinks there.

In order to ensure that residents could enjoy food at reasonable prices and great quality, and at the same time allow hawkers to have a rational income to support his livelihoods, NTUC requires that each stall provide at least two affordable meals (Budget Meals) per day to ensure that residents could eat satisfactorily a meal.

Pasir Ris Central will inject new elements into local street food. In addition to providing local traditional hawker foods familiar to Chinese, it will also introduce trendy foods sought after by young people, becoming a paradise for the next generation of hawkers to show her new idea.

Pasir Ris Central, close to White Sand Park, there are in total 42 booths and 770 seats on the upper and lower floors. On the ground floor, local popular traditional hawker food will be sold; on the second floor, FAREGROUND @ Upper Deck will launch a new generation of hawkers who are keen on food. In addition to the international food, the dining environment is more modern.

Avenue South Residence - the first large-scale project in the southern waterfront gateway

The lunar calendar, commonly known as the "Ghost Festival", ended on Thursday, and the developers who have been inactive for a long time are busy again. This weekend, a new project will be launched to test the "water temperature" of the property market. One of the more eye-catching new debuts is the Avenue South Residence on Silat Avenue.

 

Prime Minister Lee Hsien Loong recently announced the details of the development of the Southern Waterfront at the National Day Rally, which has caused the attention of private home buyers. UOL is vigorously promoting Avenue South is "the first large private residential project in front of the southern waterfront gateway".

 

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Avenue South Residence has a total of 1074 units, distributed in two 56-storey residential buildings and five four-storey retaining buildings. The developer will launch 300 units first. The price of more than half of the units is less than $1.5 million, the one bedroom unit starts from $850,000, and the second bedroom unit jumps from $1.15 million.

 

UOL's president pointed out at the project promotion meeting yesterday that the Avenue South Residence unit is divided into three categories, including the Peak Collection on the upper floors, the Horizon Collection on the lower floors, and the Heritage Collection in the reserved buildings. The average price is $2250, $1980 and $1780.

 

According to the letter, the Southern waterfront gateway will be an important development project for the government to reshape Singapore. This 2,000-hectare area, equivalent to six areas of the Marina Bay area, will promote more vigorous business and leisure activities and create many business opportunities. It will also bring huge value-added potential to private houses around the area.

 

He also hinted that the company won the land of Avenue South Residence at a competitive price, so it would allow the first batch of buyers to enjoy a more attractive price. However, the price of the project may increase, just like the projects such as The Tre Ver and Amber 45.

Government launches three lots for tender – PART 1

The three lots are expected to provide approximately 2,000 residential units to the market. The interviewed analysts said that due to the impact of real estate cooling measures, the bidding situation is not expected to be too intense. Only EC at Tampines Ave 10 may attract up to 10 bids if demand exceeds supply.

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The Urban Renewal Authority and the Housing Development Board launched three tenders under the Government Land Sale Programme (GLS) for tenders, which are expected to provide about 2,000 residential units to the market.

The interviewed analysts said that due to the impact of real estate cooling measures, developers should continue to be cautious and the bidding situation will not be too intense. Only one of the executive condominium (EC) locations may attract up to 10 bids if demand exceeds supply.

 The three sections that the government launched yesterday, in addition to the EC (Tampines Ave 10 EC), also include a private plot and a white lot.