Securing The First Slot To View Tampines Executive Condominium During E-Application
There are several things that you need to know before you apply for your Tampines Executive Condominium. Generally, you will be paying 15 to 20% less than a Condominium in the same area. If you apply for an EC, you will also be entitled to a CPF grant of up to $30,000! It is crucial to understand the costs of buying an EC and what to do to secure your slot in a showflat. This would be an excellent choice
If you are considering buying an EC in Tampines, then you should know the tips to secure the first slot to view the Tampines EC showflat during e-Application. Most potential buyers can only view the project model before submitting their e-Application. After the submission period ends, you will only be able to view the show flat unit. However, some developers have changed the way they conduct the launch of their EC and are already completed with the show flat units.
The Resale Levy for Tampine EC Showflat is a mandatory levy that you must pay for the unit during the e-application process. It is payable after you buy a flat for a minimum period of five years. The assessment is based on your gross monthly income, excluding overtime income and regular allowances. To qualify for this levy, you must have a valid ACRA license. For the EC to be applicable, you must be aged 18 to 62 years old.
Despite its low price tag, this EC is also quite popular as it is near the MRT station. It is located next to a large shopping centre and a 7-minute walk to Choa Chu Kang MRT Station. There are not many ECs that are close to MRT stations. As such, this EC should receive good response from e-applicants.
Singles Grant recipients pay only half of the resale levy when they buy another subsidised flat. Singles Grant recipients pay only half of the resale levy when they have children or form a family. HDB tenants do not have to pay the resale levy if they buy other types of property.
When you purchase a new EC unit, you must meet the same conditions as those for HDB flat buyers. You must be unmarried, widowed, or divorced. Moreover, you must submit your marriage certificate for the developer’s inspection. This must be done within three months of taking possession of your new home. If you have a CPF Housing Grant, you must submit it before the expiry of the lease term.
Cost of buying an EC
The cost of buying an EC in Tampines is significantly higher than the average Singapore property. The minimum income to buy an EC is $16,000 per month. A higher income is required if you have liabilities. Apart from the down payment, you need to pay for legal fees, stamp duties and HDB resale levy. In addition, you will need to spend another $20,000 on other expenses.
The first phase of Citylife was highly subscribed with more than 1,800 applications. This development by a consortium of Kay Lim Holdings, Amara Holdings and SingXpress Land caught public attention for its massive presidential suite positioned at a price of over $2 million. Since the TOP in Feb 2016, prices have appreciated by 28%. However, the number of transactions in Citylife is not as high as the others. So far, four transactions were recorded at this phase. The profits from the sale of ECs here were only $238,100.
The cost of purchasing an EC in Tampines is considerably lower than for private condominiums. Prices for similar-sized ECs are around $1,083,000. This is also a great deal for first-timers as it reduces the resale levy to a mere S$50,000. The prices of ECs in Tampines are also competitive, with most first-timers buying to maximize the grant amount.
As the price of private condominiums is high, many buyers are tempted to buy an EC instead. An EC is often cheaper than a private condominium, especially if you’re not quite sure of your cashflow. Furthermore, an EC’s price is often twenty to twenty percent less than HDB criteria. Additionally, you can get a grant from HDB for up to 20 percent of the total cost.
Finding a project model
If you want to buy a condominium in Singapore, you may consider the Tampines EC. Located on Tampines St 62, the development is near several shopping malls, MRT, and good schools. The development will be part of the Integrated Transport Hub. The development also features a 7.5 hectare linear park, which will provide a scenic connection to nearby Sun Plaza Park and Sungei ApiapiapiapiapiapiapiapiapiapiapiapaIPAPIAPIPIPIPIPAPIAPIDIPAPIAPIPAPIAPIPIPOPINE EC SHOWFLAT during the e-application process. The Tampines EC will be a great investment in the long run, and it is well connected to many parts of the city.
The Tampines EC is one of the most highly anticipated projects in Tampines town. The new EC will be the first one to be developed in the east region of Singapore since 2012. Located in a prime location close to amenities, Tampines EC will offer its residents a luxurious lifestyle with prime location. As of now, the completion date is expected to be in 2020.
Tampines EC is a mixed-use development. It is located near the Downtown Line and Tampines MRT stations. There are three MRT stations within walking distance of the project. Additionally, the project is near many major shopping malls and a cinema. It is a great location for families who are planning to relocate to this part of Tampines.
Before submitting your e-application, it is important to visit the Parc Central Residences EC Showflat. The development is located within a regional hub, where the main business district of Singapore is located. Tampines continues to grow as the hub of the eastern region. Future plans show that the project will continue to expand, with more retail and facilities opening in the area.