Why Tengah ECs Will Get alot of Attention from HDB Upgraders
Why Tengah ECs Will Get alot of Attention from HDB Upgraders
If you are thinking of upgrading to HDB, you might want to consider purchasing an EC. They are typically cheaper than private condos, but are still subject to the same conditions as HDB flats. You’ll also get the same maintenance and upkeep requirements.
The Bukit Batok EC in Tengah is a new hybrid public-private property development that is located near the town centre. There are 375 units planned for this mixed-use project. It is expected to attract a broad range of buyers. It is a great location for families or working professionals.
Due to its prime location in a district with low private housing supply, Bukit Batok EC is expected to draw eight to twelve bidders. This means that the development will be highly sought-after by both HDB upgraders and private homebuyers alike. According to reports, the developer is expecting to receive bids of up to $630 per square foot per plot ratio.
It is near the Bukit Batok MRT station and Bukit Panjang LRT interchange, which means that commutes will be convenient for residents. The area is also close to public schools and major shopping centers. This makes it an ideal choice for long-term living.
This is the first private housing development in the area. The GFA will be around 37,348 square meters and could have as many as 375 units. The project is expected to be completed in 2020, and will cater to HDB Upgraders in the neighbourhood. The Bukit Batok EC is already drawing the attention of many HDB Upgraders.
The EC is near several public transportation options, and the future development will have pedestrian-only roads to separate it from road traffic. It is also near several schools, and is also located near future high-rise residential developments. Its convenient location will be ideal for HDB Upgraders as it will make it easy to commute to the city.
Bukit Batok EC will be part of a new neighbourhood in the north, and will feature a range of amenities, including a sustainable ecosystem, green spaces, and community farms. This will create a more sustainable environment for residents, and residents will feel more connected to the neighbourhood and its amenities.
Located in the western part of Singapore, Bukit Batok EC is accessible by bus, MRT, and road. There are a number of amenities nearby, and it is close to the Pasir Ris MRT station, which is ideal for commuters. The location is also close to several bus interchanges.
The cost of new ECs in Tengah is about twenty percent lower than that of private condos. Moreover, these units have good upside potential when sold. They can be sold even after the MOP period of five years and after 10 years when they are fully privatised. Furthermore, HDB upgraders can benefit from EC prices as they do not need to pay ABSD. They may even continue to live in their current property for 4-5 years before selling it.
Although ECs are cheaper than private condos, they have several disadvantages. The first disadvantage is the five-year MOP. The EC’s MOP locks in the tenant for five years. In addition, ECs are not allowed to be rented out for the first five years.
The main reason why ECs are cheaper than private condos is the government subsidy. As a result, many ECs are sold to foreigners at very low prices. The subsidy helps to lower the profit margin of developers. In addition, the land prices for these units are much lower than those of private condos.
Another factor that contributes to ECs being cheaper is location. Many ECs are located outside town centres in suburban areas. The One Sophia price gap has narrowed over the past two years, as new projects in the prime areas have been developed. However, because the land in these areas is limited, ECs have become a rare commodity.
Buyers who wish to invest in ECs should be aware of the MOP before purchasing a unit. The MOP is the requirement for buyers to live in their units for at least five years. However, the buyer cannot sell or rent their unit during this time.
ECs are still a good option for HDB upgraders. However, they are still limited to singles under the age of 35 and couples with income below $16,000 per annum. Furthermore, ECs have shorter wait times than private condos and are also less expensive.
Although these ECs are not as luxurious as private condos, they are still a good option. The government has put in place measures to keep ECs affordable. For example, the government has provided subsidies for land prices for the development of EC projects. This has lowered the cost of land and thus, the price of these units. As a result, the prices of ECs are about twenty to twenty percent cheaper than private condos. Besides, residents can enjoy CPF Housing Grants, which helps in making the purchase even cheaper.
ECs in the Tengah Estate are subject to the same conditions as HDB-owned flats, and they are subject to the same investment potential as HDB flats. However, there are some conditions that are more limiting than others. For example, you can only rent out part of the unit during the first five years of the MOP.
ECs in Tengah are available to singles under 35, but they’re only available to couples with a combined income of more than S$12,000. The income cap for ECs is slightly higher than that of HDB flats, so you’ll have to make more than half of the income to get an EC.
While Tengah ECs are subjected to the same conditions as HDB flats, you can get a better price when you purchase your new EC at the five-year mark. However, this strategy is not recommended for first-time buyers. A professional mortgage broker can help you make the right choice.
While upgrading from an EC to an HDB flat is not difficult, you have to pay the ABSD upfront. Aside from the low down payment, the biggest advantage of purchasing an EC is its location. If you buy an EC in the city fringe, you can enjoy amenities and facilities in the area.
The price of ECs is lower than private condos and is typically 20% cheaper. However, ECs are subject to the same conditions as HDB flats, including the CPF housing grant. The first ten years of ownership can qualify you for up to $30,000 in housing grants from the HDB.
HDB does not allow you to exercise the Option to Purchase before obtaining your Letter of Offer. However, if you want to secure your Letter of Offer and the Letter of Acceptance from HDB, you should get a bank loan. You’ll need to pay more upfront with a bank loan, but this will avoid the hassle of the loan process.
ECs are typically built in more remote locations, often on the outskirts of Singapore. This means that you won’t find many ECs near bus interchanges or MRT stations. Unlike HDB flats, ECs will not be built in prime areas. Therefore, they have lower land costs.
Tengah ECs are located near Bukit Batok town centre and are expected to be sold by 2021. The site is being developed by a joint venture between Orchard Boulevard Condo MCL Land and City Developments Ltd. It is just 1.1km from the Bukit Batok MRT station. However, the development is not yet complete and will need to be reviewed by relevant authorities.
However, the price of Tengah EC is still relatively low compared to other ECs. The unit cost is about $750 PSF. This means that the developer is taking a risk by offering a smaller unit size. This could also lead to higher maintenance fees. The developer has to show innovative thinking to fit in the facilities in such a small plot.
Tengah ECs will draw a lot of attention from HDB Upgraders. While the location is not ideal, it is well-located and has excellent amenities. The nearby Le Quest shopping mall is just 6 minutes’ walk away. It is also close to Ikea Tampines.
The location is good for commuters. The Tengah Plantation Station will be within walking distance. It is also one of the few ECs in Singapore with MRT access. In addition, the neighbourhood centre is located within walking distance. The neighbourhood center will have hawker centres, markets, and malls.
If you’re looking for a cheaper alternative to HDBs, you should look at ECs. They have lower prices than private condos and are a great choice for people with limited funds. You can also take advantage of CPF housing grants to make it easier to afford them.