A PROPERTY SEMINAR INVITATION

UNDERSTANDING THE MARKET VALUES OF

EXECUTIVE CONDOMINIUMS

Partially Privatised

During the 6th to 10th year after completion, ECs can be sold to

Singaporeans or PRs with no family nucleus requirements. Privatised

After 10 years, all restrictions on ECs are lifted.

What’s an Executive Condominium (EC)?

An Executive Condominium (EC) is a hybrid between a private property and a HDB flat.

New ECs come with ownership and resale restrictions like

household income of not more than $12,000 and

a Minimum Occupation Period (MOP) of 5 years.

You have to occupy the EC for 5 years before you can sell it in the open market.

You cannot invest in private residential property during the MOP.

Occupiers of EC must form Family Nucleus

Occupiers who are essential in the forming of a family nucleus with you

in the EC application must continue to be listed in the application and stay in the EC during the MOP. Occupiers cannot make separate EC/HDB Application

They cannot make a separate application, or to be listed as occupiers in another application to purchase an HDB flat or another EC within the MOP.

Minimum Occupation Period (MOP)

Why are ECs appealing to First-Time buyers & HDB Upgraders?

New EC units currently sold at 20-30% lower compared to nearby private properties.

In some instances, the property values

start to narrow once the EC units can be

sold after the MOP and , eventually priced

like private properties once they cross the

10-year period.

The unintended effects of the TDSR measures favours the HDB upgrader opting to purchase

a new EC; versus a private property.

The 15-month gap (i.e. waiting period by

Developers to launch EC projects) has put a cap

on EC supply from early-2014 to Aug 2014; drives

demand for EC projects

EC makes a strong comeback

After a vacuum 5 years

1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

1

2

3

4

5

6

7

8

9

10

2013

Vacuum period

No EC

Development

TENURE

projects

partially

privatized

6 projects

privatized 17

Privatization to Condo status: 10 years from TOP

projects uncompleted 29

The market values of Privatised ECs

EC Projects TOP Ave PSF Location 1. Eastvale Jan1999 $874 psf Pasir Ris 2. Westmere Feb 1999 $861 psf Jurong East 3. Chestervale Mar 1999 $708 psf Bukit Panjang

4. Simei Green Apr 1999 $837 psf Tampines 5. Pinevale Jul 1999 $760 psf Tampines 6. Windermere Sep 1999 $672 psf Choa Chu Kang 7. The Florida Feb 2000 $780 psf Hougang 8. The Rivervale Jun 2000 $796 psf Sengkang 9. Woodsvale Aug 2000 $709 psf Woodlands

10. Yew Mei Green Sep 2000 $755 psf Choa Chu Kang 11. Summerdale Sep 2000 $796 psf Jurong West 12. Northoaks Oct 2000 $721 psf Woodlands 13. The Floravale Oct 2000 $739 psf Jurong West 14. Lilydale Mar 2003 $741 psf Yishun 15. The Eden Apr 2003 $862 psf Tampines

16. The Dew Jul 2003 $910 psf Bukit Batok 17. Bishan Loft Sep 2003 $1,107 psf Bishan

17 All 17 completed ECs by 2003 before have been fully privatised

The market values of Partially Privatised ECs

EC Projects TOP Ave PSF Location

1. Nuovo Aug 2004 $949 psf Ang Mo Kio 2. Park Green Sep 2004 $834 psf Sengkang 3. Whitewater Jan 2005 $838 psf Pasir Ris 4. The Esparis Jun 2005 $815psf Pasir Ris 5. The Quintet Oct 2006 $834 psf Choa Chu Kang 6. La Casa Feb 2008 $806 psf Woodlands

6

5 out of 6 completed ECs by 2008 before have been partially privatised;

except La Casa yet to cross the MOP

The market values of Uncompleted ECs

EC Projects TOP Ave PSF Location 1. Esparina Res 2014 $878 psf Sengkang

2. The Canopy 2014 $703 psf Yishun 3. Prive 2014 $779 psf Punggol 4. Austville Res 2014 $740 psf Sengkang 5. Belysa 2014 $741 psf Pasir Ris 6. Riverparc Res 2014 $513 psf Punggol 7. Blossom Res 2014 $699 psf Bukit Panjang

8. Arc @ Tampines 2015 $787 psf Sengkang 9. Tampines Trilliant 2015 $771 psf Tampines 10. The Rainforest 2015 $751 psf Choa Chu Kang 11. Twin Waterfalls 2015 $762 psf Punggol 12. Waterbay 2016 $719 psf Punggol 13. 1 Canberra 2016 $717 psf Yishun

14. Watercolours 2016 $729 psf Pasir Ris 15. Heron Bay 2016 $730 psf Hougang 16. The Topiary 2016 $732 psf Sengkang 17. Citylife @ Tamp 2016 $798 psf Tampines 18. Lush Acres 2016 $751 psf Sengkang 19. Ecopolitan 2016 $790 psf Punggol

29

What takes 10 years to sell & build have been supplied within the past 3 years,

testament of the strong EC demand.

The market values of Uncompleted ECs

EC Projects TOP Ave PSF Location 20. Twin Fountains 2016 $741 psf Woodlands

21. Forestville 2016 $739 psf Woodlands 22. Sea Horizon 2017 $800 psf Pasir Ris

29

Quarter 4, 2014 23. Waterwoods Punggol 24. Skypark Residence Sembawang

Next batch of EC launches after Aug 2014

25. Woodlands Ave 5/6 Woodlands 26. Anchorvale Crescent Sengkang 27. Punggol Central / Edgedale Plains Punggol 28. Punggol Drive / Edgedale Plains Punggol 29. Yuan Ching Road / Tao Ching Road Jurong West

EC Supply Gap (Early to Aug 2014)

TOP: 2000

Woodsvale

TOP: 2000

Northoaks

$725 psf

Both ECs Privatized in 2010

720 units $708 psf 696 units

The Market Value Growth of

Privatised ECs

The Market Value Growth of

Partially Privatised ECs

TOP: 2008 83 17

%

%

HDB

Private

$657-$802 psf

$665-$809 psf

$736-$905 psf

TOP: 2016

TOP: 2016

The partially privatised EC

appreciates in value as it

progresses thru MOP and

eventually full privatisation.

Enhanced connectivity for residents

in the Northern region to city

Intersecting 4 MRT Lines 13 stations

The Upcoming Thomson Line (TSL)

Stage1 (2019)

Stage 2 (2020)

Stage 3 (2021)

Sin Ming to Gardens By the Bay

Travel time slashed from 65min to 25min 6 stations

Cross Island Line (CRL) (2030)

Connecting Changi to Jurong

Targeting 2019-2021

North South Expressway (NSE)

Slashing Travelling time from Yishun,

Sembawang, Woodlands to the City by 30%

Northern section 15.9km (2020) Admiralty Rd West to Toa Payoh Rise

Linking Yishun, Sembawang, Woodlands to the city

Southern section 5.6km (TBC) Connecting to ECP

Completed 2020

Singapore - Johor Bahru

Rapid Transit System (RTS)

Targeting 2018/9

The RTS link is planned to integrate

with TSL at Woodlands North station (vicinity of Republic Polytechnic)

and Tanjung Puteri, JB

High-Speed Rail (HSR)

Targeting 2020

Singapore – Kuala Lumpur

The HSR boasts a projected speed of 300 km/h

and expected to trim travel time between

the 2 cities to 90min

Woodlands Regional Centre

1 of the 4 Regional Centres identified under the Land Use Plan

to create Business Hubs outside the city centre

in 10-15 years

extends from Woodlands Regional Centre, the future Seletar Regional Centre to the learning corridor and innovative cluster at Punggol.

North Coast Innovation Corridor

(Long Term Plan)

Provides more locational choices for businesses

Brings jobs and amenities closer to homes

Reducing the need to travel towards the city centre.