Upcoming EC in 2021
Executive Condominium, abbreviated as EC, is a kind of public housing system. It is more prevalent in Singapore. Built in 1999, EC is a mix of both private and public style of housing. It looks like a private condominium that is bounded within a complex with amenities such as security, clubhouses, swimming pools, playgrounds and a lot more. We have done a research and compiled a list of the upcoming EC’s that are expected to be launched in 2021.
Why should you invest in EC?
Executive Condominiums have always been popular. This is one of the best ways to enjoy the comfort of private properties with the assistance of government subsidies. EC is the best choice for first-time homeowners whose income is above a certain limit. Executive Condominiums are a logical decision. This is for those people who want to go beyond the income ceiling for “BTO flats”, but can afford the price of a non-EC condominiums. So, presently, there is a lot of attraction for ECs in the market.
ECs are generally 99-year leasehold properties. It is required for a developer to take a minimum of 1.5 years of time to launch their EC projects when they win the tender.
Launching in 2021
Project name New EC at Tampines Avenue 10
Developer name Hoi Hup Realty and Sunway Developments
Address Tampines Ave 10
Tenure 99 year leasehold
Number of units available 695
Unit mix Yet not confirmed
About the site
Tampines is considered as a mature estate that provides a lot of amenities to people. Due to fewer EC constructions in the east, Tampines site has been highly contested in the market.
The last executive condominiums in Tampines was the “Arc @ Tampines”, with Tampines Avenue 8. This was later led by The City Life and “Tampines Trilliant”.
Tampines Ave 10 is one km far from Poi Ching School, and St Hilda’s Primary. It is at a walkable distance to “United World College South East Asia”.
About the bids placed for Tampines Ave 10
The highest bid for this EC is obtained from Sunway Developments and Hoi Hup Realty. Both of these firms have jointly placed a price bid of $434.45 million for this EC. The 2nd highest bid is obtained from MCC Land, a popular Chinese developer who has placed a bid of $431.62 million.