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22-10-12, 12:34
http://www.straitstimes.com/archive/saturday/premium/money/story/more-half-units-sold-punggol-ec-launch-20121020
More than half of units sold at Punggol EC launch
HDB upgraders and second-time applicants drive demand at 99-year leasehold Waterbay
Published on Oct 20, 2012
By Esther Teo, Property reporter
BUYERS have snapped up more than 200 units at an executive condominium (EC) launch in Punggol yesterday.
HDB upgraders are driving the demand for flats at the 383-unit Waterbay EC project at the junction of Punggol Central and Edgefield Plains.
The five-bedroom apartments and dual-key units were the most sought after, said developer Qingjian Realty (South Pacific) yesterday.
Two-bedroom flats are priced at about $560,000, three-bedders cost $680,000, four-bedders are $824,000, while five-bedroom units will set a buyer back by about $1.04 million.
Second-time HDB flat applicants also showed up in force. The 30 per cent of the project that is allocated to them under new HDB rules was fully taken up.
Other interested second-time buyers will be able to make their bookings only on Nov 19, one month after the public launch.
The 99-year leasehold project, which should be completed in 2015, is spread out over six 17-storey blocks.
"The proximity to the MRT station, shopping mall and other amenities has been a draw to many buyers who live around this area or are familiar with it," said Mr Zuo Hai Bin, managing director of Qingjian Realty (South Pacific).
"In addition, Punggol is slated for growth with the upcoming retail and lifestyle hub, Watertown and Coney Island nature park."
Qingjian noted that EC projects remain attractive to upgraders seeking condo-style living at an affordable price.
EC projects combine elements of private and public housing and often come with premium furnishings and facilities.
The developer's most recent EC launch - the 504-unit RiverParc Residence, also in Punggol and released in July last year - is sold out.
ECs are subject to a minimum occupation period of five years. They can then be sold only to Singaporeans and permanent residents. They become private property after 10 years and can then be sold to foreigners.
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More than half of units sold at Punggol EC launch
HDB upgraders and second-time applicants drive demand at 99-year leasehold Waterbay
Published on Oct 20, 2012
By Esther Teo, Property reporter
BUYERS have snapped up more than 200 units at an executive condominium (EC) launch in Punggol yesterday.
HDB upgraders are driving the demand for flats at the 383-unit Waterbay EC project at the junction of Punggol Central and Edgefield Plains.
The five-bedroom apartments and dual-key units were the most sought after, said developer Qingjian Realty (South Pacific) yesterday.
Two-bedroom flats are priced at about $560,000, three-bedders cost $680,000, four-bedders are $824,000, while five-bedroom units will set a buyer back by about $1.04 million.
Second-time HDB flat applicants also showed up in force. The 30 per cent of the project that is allocated to them under new HDB rules was fully taken up.
Other interested second-time buyers will be able to make their bookings only on Nov 19, one month after the public launch.
The 99-year leasehold project, which should be completed in 2015, is spread out over six 17-storey blocks.
"The proximity to the MRT station, shopping mall and other amenities has been a draw to many buyers who live around this area or are familiar with it," said Mr Zuo Hai Bin, managing director of Qingjian Realty (South Pacific).
"In addition, Punggol is slated for growth with the upcoming retail and lifestyle hub, Watertown and Coney Island nature park."
Qingjian noted that EC projects remain attractive to upgraders seeking condo-style living at an affordable price.
EC projects combine elements of private and public housing and often come with premium furnishings and facilities.
The developer's most recent EC launch - the 504-unit RiverParc Residence, also in Punggol and released in July last year - is sold out.
ECs are subject to a minimum occupation period of five years. They can then be sold only to Singaporeans and permanent residents. They become private property after 10 years and can then be sold to foreigners.
[email protected]