Prive EC :: Punggol EC :: Singapore

On November 21, 2010, in Prive EC, by Reviewer

Prive Executive Condo. New Punggol EC near Punggol MRT. By NTUC CHOICE HOMES. FULLY SOLD.

Prive EC - Prive Condo

The Prive EC is an executive condominium that is now open for sale.  This Punggol EC is designed to offer a new experience in executive condos, blending luxury into a lush green oasis, to echo the greenery and waterfront town nature of Punggol.

Waterfront living: close to recreational & water activities (jet-skiing, kayaking, scuba-diving), gardens and parks with jogging & cycling tracks, rooftop gardens, waterside al-fresco dining & promenades.

Reasons to buy Prive EC

. 7 minutes walk to Punggol MRT station.

. 9 minutes walk to Punggol Town Centre & a bit further to waterside promenades.

. Average $680 per sq ft – very attractive considering only about 380m from Punggol MRT station

. First time buyers eligible for $30,000 CPF housing grant.

. Deferred Payment Scheme available.
After paying 5% cash + 15% (from CPF) + stamp duty, you don’t have to pay anything more till TOP.

. Full & extensive condominium facilities (includes 50m lap pool, lagoon pool, tennis court, gym, etc)

. Premium finishes & fittings comparable to private condos (HansGrohe & TEKA)

. Offers customisation options to suit your requirements.

. Experienced EC developer NTUC Choice Homes with reliable track record.


Investment Potential for this Punggol EC

$200K to $300K cheaper than similar new private condominiums.

Proximity to Seletar Aerospace Industry Cluster and to Tampines & Changi Business Parks via the TPE means good resale potential after the 5 year MOP.

The Sunday Times 17 October 2010 reported that “…ECs that have met their MOP has shown a 66.9 per cent price appreciation from 2004 to this year” which is “…higher than the 51.8 per cent price increase in mass market residential homes…“, with “…location playing a significant part in the rate of price appreciation.


Prive EC Sale Status

This Punggol EC was launched on 10 December 2010 to enthusiastic response, with 40% of the units sold that day alone. It is now completely sold out. So what others are coming up next? The next one to launch will be Piermont Grand along the Waterway. This one will be slightly further away from the MRT station compared to Prive, but will still be walkable if you don’t mind taking around 11 to 12 minutes to get to the station. The Piermont Grand EC will have the advantage of fronting the Punggol Waterway directly however, with even some pocket views of Punggol Reservoir. It is also nearer to the terraces of Waterway Point.

Email Us to find what documents you need for eligibility processing to buy any EC.



Developer Sales . The Arcady Condo Prices

The Arcady at Boon Keng in District 12 will probably launch for sale at the end of 2023, or in early 2024. Like Prive EC, it is located in the north-east corner of Singapore. Unlike Prive, it is a private condominium rather than an executive condominium. Further, the Arcady condo is a freehold development, which in theory, bestows upon the buyer the right of ownership in perpetuity.

That is in theory of course. In actual practice, the authorities have the right to buy over the land at any time, so long as they pay you what is deemed fair market practice. That however does not happen often.

In the meantime, the Arcady at Boon Keng is an attractive residential project. It sits on a parcel of land formerly occupied by Euro-Asia Apartments, and sold enbloc collectively to a joint venture of KSH Holdings, H10 Holdings, and SLB Development. This area is zoned as residential with a plot ratio of 2.8. The neighbourhood of the Arcady condo is mainly residential, a mix of public housing and private apartments, together with old shophouses lining Serangoon Road.

While it is an old part of town, it is relatively close to the city centre. In fact this is actually within a Rest of Central Region (RCR) zone. The Arcady condo is within 6 minutes walk of Boon Keng MRT station on the North-East line, 3 stops from Doby Ghaut station in Orchard Road. So this launch is expected to elicit a good deal of interest, for both its city fringe location as well as its freehold status.

The Arcady condo prices won’t be cheap, however. With a break-even cost of around $2,000 PSF, analysts are expecting selling prices in the region of $2,500 PSF or so. The consortium is likely to start marketing activities in a couple of months time. The unit mix will comprise one bedroom + study units, all the way to 4 bedroom apartments, and a couple of penthouses.

At these prices, the Arcady at Boon Keng is of course targeting a completely different demographic from Prive. There will always be a class of buyers who only buy freehold property, and have the means and are prepared to pay for it.

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