My first trip to the forest District inside my be in the united kingdom would be a memorable one. I recall sipping coffee within my little apartment that overlooked the river and being enthralled from the rustic charms of nature that spread before my very eyes. What followed next was a tinge of despondence, for that lush greeneries and waters were something that I could not be in my beloved home country, Singapore.
Now, fast-forward Five years, and you can imagine my excitement once the Singapore government announced the rejuvenation of Punggol as the Waterfront Capital of scotland- the Modern day.
Punggol because the Waterfront Town of the Modern day
Historically a fisherman's village along with a sleepy estate in recent decades, Punggol is now having a radical transformation into an exciting waterfront town.
In the middle of the development is really a 4.2 km long waterway that embodies three key design elements: Green, Water and individuals. This impressive stretch of waterway comprises a wide array of activities and facilities - from recreational to educational - all connected together from the natural landscape of waters and lush greeneries. It is no surprise why Prime Minister Lee Hsien Loong described the waterway like a "green lung during our tight city".
Make no mistake, Punggol is not all just about undulating landscaped hills and blue waters. By 2015, you will see a fresh commercial hub and town plaza located right on the MRT station, as well as the town is poised being as large as Ang Mo Kio (an immensely popular mature estate in Singapore).
I strongly believe that they are valid top reasons to make an early investment in Punggol even though the opportunity remains.
The Lure of Executive Condos
I hear you ask - will be the opportunity to invest there? Yes, and it is based on the Executive Condominiums, fondly referred to as 'ECs'.
ECs are in public housing in Singapore but full-grown and sold by private developers. It is a government initiative that caters to homebuyers who're ineligible for the cheaper HDB flats but do not want prices of non-public property.
As a result, ECs will almost always be offered by a significantly lower quantum (usually priced 20-25% lower) in comparison with an exclusive condo with similar facilities, hence making the first kind far more affordable.
Additionally, interested EC 1st time buyers who meet the criteria for your government housing grants (CPF grant) can also enjoy a subsidy of up to SGD $30,000. This really is dependent on the combined monthly salary of the buyers. There is also no resale levy for 2nd time buyers. To discover the eligibility, please reference the Housing Development Board's EC Eligibility.
The most crucial consideration for investing in ECs will be its strong potential for capital appreciation. With a trend analysis, the values of ECs have risen considerably over time since its introduction to the housing market. Park Green, launched in Apr 03 at $324 psf has become fetching $746 psf, a handsome investment for a lot of. Bishan Loft, launched in 2001 at $421 psf, is now able to fetch above $1000 psf. This equals greater than a 100% capital appreciation.
After A decade of ownership, the EC is going to be privatized and is sold to foreigners. The opportunity to target a wide market essentially signifies that there's a larger market of potential buyers to sell the EC to.
ECs in the Punggol Vicinity
Thankfully for your many who have an interest in purchasing Punggol, there are some upcoming EC launches within the next month or two.
At the heart of Punggol is Waterbay EC. The expected launch date is within Oct 12. Other great investment opportunities in the region include Heron Bay EC and Fernvale EC.
Now, fast-forward another Five years, after i am sipping my cup of coffee in the apartment that overlooks the natural landscape and blue waters, it will not be in the united kingdom, in my beloved home, Singapore.
Property Review - Janice is really a promising agent at Singapore's leading property agency ERA. She is passionate and enthusiastic about helping her clients invest in the best properties in Singapore.