Since 2012, there has been no Executive Condominium (EC) launches in Tampines. Today the much-anticipated Parc Central Residences looks like a great opportunity for HDB upgraders to consider. It has yet to be launched and we expect it to happen within this year.
It is located along Tampines Ave 10, and it is about 5-6 bus stops to the Tampines MRT station. This reminds of a current sensation project call Treasure at Tampines, which has topped Singapore’s best-selling condos for a few months running even during our recent Circuit Breaker. Is there pent-up demand for upgraders over the years? Will Parc Central become the next best-selling project?
Parc Central Residences covers about 25,000 sqm of land, that’s equivalent to 3.5 football pitches and expects to yield 680 – 700 units. Its developers, Hoi Hup Realty and Sunway Developments, have numerous projects under their record. They include both private residential and HDB under the Design, Build and Sell Scheme (DBSS), namely The Peak @ Toa Payoh, Arc at Tampines and Suites @ Cairnhill.
In the vicinity, other than the newly built Tampines Hub, for nature lovers there is the Bedok Reservoir Park which is a short walk down Tampines Avenue 10. You can even travel to other parks on the island via the park connector from Bedok Reservoir Park.
A good point to note is that buyers of EC, unlike private property buyers, are subjected to these eligibility conditions:
Family nucleus – You will need to qualify for the EC under one of these eligibility schemes:
- Public Scheme
- Fiance/Fiancee Scheme
- Orphans Scheme
- Joint Singles Scheme
- You must be a Singapore Citizen
- At least 1 other applicant must be a Singapore Citizen or Singapore Permanent Resident
- All singles must be Singapore Citizens if applying under the Joint Singles Scheme
- At least 21 years old
- At least 35 years old, if applying under the Joint Singles Scheme
Income ceiling – Your household income must not exceed $16,000 income ceiling.
- You do not own other property overseas or locally, or have not disposed of any within the last 30 months
- You have not bought a new HDB / DBSS flat or EC, or received a CPF Housing Grant before; or, have only bought 1 of these properties / received 1 CPF Housing Grant thus far
If you are still unsure if you meet the eligibility requirements, check with your preferred housing agent today.
To get the latest information, brochure and price list of Parc Central Residences.