Updates: Detailed information will be out shortly. Call us at 96320486 for more information
Missed out on Hundred Palms new launch EC which was the most oversubscribed in EC history? Don’t miss the next EC that’s coming up – Rivercove Residences: Living by the river
Hundred Palms EC recently made the news when all 531 units were sold out in 7 hours on 22 July 2017. At an average selling price of S$836 psf, the Hundred Palms EC was a hit due to its prime location at Yio Chu Kang.
After the bumper sell out, ERA and Huttons said the fantastic response was due to a few factors
- Prime location in Hougang, a mature estate which had not seen any new launch ECs before
- Reasonable pricing of S$715,000 for a 3 bedroom unit, S$1.03 million for a 4 bedroom unit and S$1.29 million for a 5 bedroom unit
- Good design
Most oversubscribed EC in history
Hundred Palms was also the most oversubscribed EC in the history of the EC housing type, with 2,700 applications received for 531 units. This represented more than a 5 times subscription rate.
One EC development left – Rivercove Residences
Before going into Rivercove Residences in detail, let’s look at the aerial view of the plot of land.
We’re facing north. The new launch EC Rivercove Residences is located at the bottom of the video.
Unlike the past few years when there were multiple EC developments for buyers to choose from, there won’t be much choice going forward.
From HDB’s website, the next EC development that’s going to come up is one at Anchorvale Lane.
EC developers can only start selling 15 months from winning the land from the government, so sales will be starting late Nov 2017 (15 months after tender close date of Aug 2016).
Mark this date: Nov 2017!
If the showing at Hundred Palms EC is representative of the market, then expect the subscription rate at Anchorvale Lane to be pretty high too.
Contact us now to find out more about Rivercove Residences: Living by the River at Anchorvale
Rivercove Residences: Living by the River
The EC is beginning to be marketed as Rivercove Residences: Living by the River.
Makes you already start wondering if you could enjoy such a life while living at the EC.
Now it won’t be like that, but Rivercove Residences will be located beside the Punggol Reservoir.
It’s likely developers have planned for a backgate to the Reservoir.
This means that you can go cycling, for a job, bring your dog for a walk, chill out by the reservoir in less than 2 mins from your place!
Rivercove Residences is located in between Layar and Tongkang LRT stations, which is connected to the North East Purple line and Sengkang MRT station.
Improved road conditions
Take a ride
Seletar Aerospace Park to TPE (PIE-Changi)
Yio Chu Kang to CTE (City)
CTE (City) to TPE (PIE-Changi)
TPE (PIE – Changi) to Sengkang West Road
SLE (BKE) to TPE (PIE – Changi)
100% increase in prices
The bable below shows how EC prices have moved since completion.
On average, there has been a 100% increase in prices at launch to today’s market price
The reason for such increases in price is because ECs gain private condominium status after 5 years. This gives a filip to the prices that cannot be achieved by pure HDB flats not pure private condominium units.
Contact us now to find out more about Rivercove Residences: Living by the River at Anchorvale
Catering to the middle class, ECs are a good form of housing both for owner-occupation and investment.
Not only are prices fairly affordable, there is an opportunity for capital appreciation or rental potential in future after the 5 year minimum occupation period is over.
Present condition of site
Amenities and facilities
Waterway point
Sengkang bus interchange
Sengkang Public library
Anchorvale CC
Sengkang sports and recreation centre
Share with us, are you looking to buy an investment property or one for your own stay? What type of housing are you keen on?
Contact us for more information on any property you would like to buy or sell. We reply within 24 hours.
If you find the above interesting and would like to get started on investing in REITs, we would love to be with you on the journey. One place you can get started on finding out more is our REIT data tracker and list of property and REIT events.
We would love to assist if you are on the lookout to buy or sell property. If you know of anyone who is interested to do so, please refer them to us. We have an attractive referral program where you share in the fees or profits of the transaction.
PropertyInvestSG is on the lookout for successful individuals who have experience in property or REIT investments to interview. If you are one or know of someone like this, speak with us today.
We accept guest posts.
Be nice and say hi, visit our Facebook page, or simply drop us a message at the message box in the bottom right corner of this page.