Developments on Executive Condominiums and Rivercove Residences

As many home buyers are aware, Executive Condominiums (EC) in Singapore are a hybrid type of residential property that are constructed and sold by property developers. These EC developments are built on land sold by the Government, but at a price lower than those government land sales for private residential properties because their land prices are subsidised by the Government. As such Housing Development Board (HDB) have set out a set of eligibility conditions for purchase and sale of EC units.

In July 2017, the units at Hundred Palms Residence EC was fully sold within 7 hours from the launch time. Located in Hougang, it was an record breaking timeline for an executive condominium to be fully sold. Rivercove Residences EC is the next EC launch in the North Eastern Singapore. Poised to launch in early 2018, This 635 units Executive Condominium along Anchorvale Lane is expected to attract strong demand from first time buyers and HDB upgrader.

Developed by Hoi Hup Realty and Sunway Development, Rivercove Residences Floorplans are well designed and thought of so as to maximise the pleasure and comfort for the home buyers and their family members. With 2 bedrooms, 3 bedrooms, 4 bedrooms and 5 bedrooms layouts to choose from, Rivercove Residences EC is catered to purchasers with various requirements and family sizes.

Rivercove Residence Jointly Developed by Hoi Hup and Sunway

Rivercove Residence Jointly Developed by Hoi Hup and Sunway

Major roads and expressways such as Central Expressway (CTE), Seletar Expressway (SLE), Tampines Expressway (TPE), Kallang Paya Lebar (KPE) are within minutes drive from Rivercove Residences. Food and lifestyle activities are in abundance at the nearby shopping malls – Selatar Mall and Compass One. This Anchorvale Lane EC is located next to Layar LRT station which connects to the wider LRT network of Sengkang, Sengkang MRT station and Bus Interchange. Residents of Rivercove Residence EC can reach various parts of Singapore at ease and in the shortest possible time with the good transportation connectivity.

Before one can consider an EC such as Rivercove Residences, there are several main eligibility conditions for eager home buyers. For new EC home buyers who brought the unit directly from a developer, there is a minimum occupancy period (MOP) of five years where the unit cannot be sold or rented out during this time period. In addition, an eligible buyer of an executive condominium should not have disposed any private residential property 30 months before applying for the purchase. Lastly, first-time applicants who are considered Singaporean household nucleus are eligible between $10,000 to $30,000 of CPF Housing Grants if their combined household incomes are below $12,000. There is also a household income celling of S$14,000, should EC is your choice property purchase.

Rivercove Residences Prices are expected to be at an average of $780 per square feet. Many property analysts are expecting a sell out of this project in 1st Quarter 2018. With no new launches coming up in North Eastern Singapore at least for the 2 years to come, prospective upgraders have to consider their choices carefully and take the necessary action as soon as possible.

Review on Sims Urban Oasis

Sims Urban Oasis is situated in Aljunied Road at District 14 and also the intersection of Sims Drive.

Sims Urban Oasis will target collections of – from couples, small singles and families to families. All components at Sims Urban Oasis include designs that are spacious and sleek since they designed and are crafted. Encompassing scale and a size Sims Urban Oasis includes lush greenery that stretches supplying a room for pursuits. Sims Urban Oasis will supply spacious reasons for every person to enjoy the panorama view of the city skyline.

Sims Urban Oasis

Sims Urban Oasis

To encourage active community dwelling, Sims Urban Oasis provides a large selection of over 60 amenities such as 2 Olympic-length swimming pools: a family pool and a pool for serious swimmers; a broad fitness center for many ages; a massive yard, barbeque pavilions and recreation spaces for acquaintances to socialize. Even the Aljunied MRT station is a short stroll and is just 1 channel away in the Paya Lebar MRT Interchange which connects the Line and the Circle Line . City-edge Sims Urban Oasis is situated only minutes’ drive to City Hall Interchange from Marina Bay CBD and just 4 Mrt ceases.

A brief drive will take you to shopping malls and amusement centers such as Paya Lebar Square along with the brand Kallang Wave mall, in addition to NEX mall, Singapore Expo and Suntec City.

The Aljunied/Sims Drive place is currently undergoing rapid changes that have coffee shops and advanced, eateries sprouting out offering lifestyle choices that are new beside the eateries/restaurants this place is famed for. The development comprises 6 shops, bringing the occupants convenience. Shop for supermarkets and fulfill your craving in Geylang Serai Market & Food Centre and Sims Vista Market. There are plentiful amenities like the Old Airport Square lifestyle heart, Singapore Sports Hub, 1 KM mall, Wisma Geylang Serai along with Paya Lebar Square. According to caveats lodged in March so much, Sims Urban Oasis has transferred near to 35 units, together with costs ranging from $35728,757 ($1,505 psf) to get a 484 sq feet, post-secondary unit into $1.61 million ($1,331 psf) to get a 1,206 sq feet, four-bedroom unit.

This condo consist of units vary from 1 bedroom to 5 bedroom flats, intends to supply a residing adventure that is city-edge to occupants through its selection of furnishing and contemporary interior layouts. Sims Urban Oasis condominium is designed to become an community which cultivates way of life.

A brand-new prestigious private home improvement from GuocoLand — Sims Urban Oasis Condominium that a 99 years leasehold private home development situated in Sims Drive across Aljunied Road providing 8 towers of high rise dwelling with 19th heights of beautiful apartments with all of the ease of modern lifestyle merely a stone’s throw away. Among Singapore lien place in an place overlooked by many, sims Drive, is a jewel tucked away to the border of Marina Bay and Singapore’s bustling Central Business District.

Sims Urban Oasis is nearby colleges like Geylang Methodist Secondary, Geylang Methodist Primary, Kong Hwa School along with James Cook University. With James Cook University’s end, you will find certainly will an inflow. James Cook University will put up its campus for 3,400 students and they plan to expand enrolment to. The inhabitants will enjoy city skyline view in the Skypark facility. Sim Urban Oasis is also a great investment opportunity, since the accelerated transformation and maturation of the region and additional improvements to the infrastructure will cause a increase in property values.

There certainly are quite a few Government redevelopment programs in the area, turning Sims Drive region to the fundamental bit of prime land land. Relocation of this Paya Lebar airbase frees up property parcels to develop strategies and projects and eliminates height limitations. Included in the Kallang Riverside waterfront neighborhood into the West, the Paya Lebar Sub-Regional Centre into the East and also the Singapore Sports Hub into the South, and also the Bidadari Estate into the North.

Bullish expectations on Singapore property market for 2018

After years of declining home prices in Singapore, many are expecting a reversal of overall property prices in Singapore in 2018. This is even as most of the property cooling measures remain in place.

For 15 quarters, Singapore property prices have declined as the government introduce the curbs on property purchases. With an overall decline of 12 percent from its peak in 2013, analysts at UOB Kay Hian and Morgan Stanley are expecting an increase of 2-10 percent going into 2018.

The underlying reasons for this expectation stem from the fact that foreign buyers, especially from China have a long-standing interest in Singapore properties and are likely to increase their investments. This is despite the recent China’s government stemming capital outflows. Also, the popular property investments such as Hong Kong have imposed strict financial restrictions to cool international demand. This has levelled the taxes payable among these countries as compared to Singapore’s 15 percent additional buyer stamp duty on foreign purchasers.

In addition, the price-to-income ratio has decreased from 12 times to 10 times in the last 10 years and other countries such as Hong Kong has experienced to rise to 15 times from about 11 times. Also, the income growth will drive the first leg of a recovery in home prices in Singapore, where property ownership as a proportion of household assets is near a record low.

There has been an increase in en bloc sales by developers which involve existing homeowners selling apartments in older buildings to developers. The total figure has crossed S$3 billion in 2017, exceeding the combined transaction value in the previous four years. Armed with cash from these redevelopment sales, these buyers will add demand for homes in Singapore.

With the favourable domestic conditions and the external push factors in financial liquidity, Singapore property prices are set for the revival and upswing for the year of 2018.