The anticipated wait is over for this incredible Piermont Grand EC
It was the just available EC webpage for developers best right now, Hence the hang on for Piermont Grand EC is above before long!
To be sharp, there are three extra EC sites available for territory revenue in 1H2018, but Sumang Walk is the only EC that will be launched in 2019. The different sites will only end up being introduced in 2020.
In addition, JLL State Director, Mr. Ong Teck Hui, stated in a Business Occasions statement that "The absence of EC area sensitive for one-and-a-half years, a severely undersupplied industry with a paltry unsold share of not as much than 1,000 EC units (adding the future 628-unit Rivercove Houses along Anchorvale Lane in Sengkang) and a growing individual residential market are members to the bullish prospect for the EC industry among customers."
Self-confidence in ECs and recovery in the residential market
The residential real estate marketplace seems to end up being turning around this 12 months. Home prices were up one per cent in 2017, after decreasing 3.1 per cent in 2016. We also noticed a rise in revenue databases for private homes, at 23,113 transactions between January and November 2017. The tones the total revenue for the whole time of 2016, which had been simply 16,378.
At the same period, developers have constantly been bullish on the sales of ECs. In simply the 1st seven weeks of 2016, for example, 2,697 EC units had been marketed by developers. This was additional than the 2,550 EC products distributed in the entirety of 2015.
In 2016, ECs like Wandervale sold 1 / 2 of its 534 units on the beginning weekend, whilst Hold dear Crest sold 72 per cent of its 504 units on the opening weekend.
ECs are actually popular because, despite getting full selection condo rentals that are actually fully privatised after 10 years, buyers may still get CPF grants when purchasing them. They will be, in effect, a form of "government subsidised personal real estate".
As the Sumang Walk EC will be the only housing type of its kind to kick off in 2019, demand is definitely to be high.
Development of the Punggol Digital District
Punggol itself is finding up steam, as a good desirable location. Once referred to for cost-effective real estate and relatives seclusion, it’s now starting the same sort of change for better we once found in Jurong West.
The government has plans to expand Punggol Town Centre toward the waterfront, and develop it as a mixed-use district (commercial, residential, and business park). Which will Piermont Grand EC . The innovative Singapore Initiate of Technology (SIT) campus will end up being located right here, and the region will get produced into a "digital area" for tech development.
In addition, the area will have a innovative hawker centre, revamped community club, and a new childcare centre.
The Piermont EC may be the beginning of a new era for Punggol, which may no much longer be seen as just the place for affordable housing in the years to come.
