With attributes of being closest EC to City area and is within 1km of a popular school, developer Hoi Hup Realty is likely to put a premium on Hundred Palms Residences price.
[Latest Update: 22 Jul 2017] Hundred Palms Residences received unprecedented results – all apartments sold on booking day! Thanks to home buyers for their confidence in this development. Next new EC launch expected at beginning of 2018 for Anchorvale Lane EC.
Factors to consider in Hundred Palms Residences price
With increased land cost, we are anticipating that average pricing is likely to be higher than the last few EC launches.
However, all developers should have a desire for their development to sell well, and therefore we are anticipating Hundred Palms Residences price to be reasonable and affordable.
Perhaps you may take reference from recent indicators of an upward trend in the property market as well:
- Current market analysis with private residential apartments
In district 19, average per sq foot price (psf) transacted at Forest Woods is $1,404, and $1,163 for Kingsford Waterbay. Both are new private condominium with Forest Woods being 5 minutes’ walk to MRT station, and Kingsford Waterbay having river view.
To illustrate the discount factor from private residential apartments, should Hundred Palms Residences launch at average of $800 psf, privileged home buyers who satisfy EC eligibility criteria gets a 31% ‘discount’ or 27% if $850 is the average psf, when compared to Kingsford Waterbay.
*data extracted from The Edge Property as of 10 June 2017
- Current market analysis with en bloc sale
In land scarce Singapore, developers are turning to en bloc sale to satisfy home buyers need of a new home.
Recent en bloc sales included Eunosville at an average per sq. ft. per plot ratio (psf ppr) of $909 and for Rio Casa, neighbour to Kingsford Waterbay, its $706 psf ppr.
The psf ppr is only land cost. Adding in building and marketing cost and profit margin, we can only say the selling price for each apartment will likely give you consolation of a good deal at Hundred Palms Residences.
- Current market analysis with nearest EC to Hundred Palms Residences
The Topiary with a side gate along Yio Chu Kang Road obtained T.O.P not too long ago.
While home buyers at The Topiary are observing required 5 years M.O.P, there were still some units transacted recently, probably from home buyers who did not satisfy eligibility criteria during key collection.
The price for a 1055 sq. ft. apartment was at $863 psf.
Is Hundred Palms Residences worth investing?
Buying an executive condo does not come with additional buyer stamp duty, and factoring the ‘discount’ factor, home buyers are already getting a potential capital appreciation.
For first time home buyers, the housing grant up to $30k is deemed as a ‘discount’ from the purchase price, and works towards helping them on cash flow when settling the 15% payment upon signing the Sales & Purchase Agreement.
As there’s a 5-year period to observe before you can capitalise on this property, this may be considered a setback if this EC purchase is viewed as as investment, and not for long term stay.
Furthermore, it is mandatory that your current HDB flat be sold within 6 months from key collection, if you currently own one.
If you are looking for lifestyle upgrade, let me share with you at showflat why it is worth considering even if Hundred Palms Residences price come at a slight premium.
Interested to know more on Hundred Palms Residences?
To discuss and know more on Hundred Palms Residences at Yio Chu Kang Road as your next home, please call developer’s appointed marketing agent Poh Lin at tel no. 96700937 or submit the contact form below to receive updated project information, ebrochure and floor plans.
For detailed project information on Hundred Palms Residences, please click here.
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