Buying an EC have always been the consideration for Singaporeans as it offers Singapore citizens the option of living in a private housing at subsidized prices. Executive Condominiums owners will be able to sell their property to Singapore citizens once their Minimum Occupational Period (MOP) is reached. Also, executive condominiums will be fully privatized after 10 years and therefore owners will be looking for a price increase in their unit thereby making a profit from their EC investment.
Hundred Palms Residences Prices Yio Chu Kang
A good comparison for Hundred Palms Residences prices will be on Regentville which is located right next to the Yio Chu Kang EC. Regentville is a development that consist of 580 units that has 2 bedrooms and 3 bedrooms units available. The developer for Regentville is Serenity Properties Pte Ltd. Please see the transaction prices for Regentville.
It can be seen that prices for Regentville has been increasing and is currently now close to its peak indicating that prices has continued to climb. Therefore, one can expect prices for Hundred Palms Residences by Hoi Hup to remain bullish given that there has been no EC plots lately in the Hougang and Fernvale area.
Yio Chu Kang and Hougang Property Prices
There is indeed a backlog of demand for ECs in the mature areas such as Hougang and Yio Chu Kang. The previous ECs close to Hundred Palms Residences such as Lush Acres by City Developments as well as The Topiary at Fernvale Link has been fully sold. The prices for District 19 properties has also been on the uptrend as well as depicted in the chart below.
Hundred Palms EC Prices
The chart depict that the average prices for District 19 properties are in the range of $1,400psf which is above the launching prices for Hundred Palms Residences EC. This means that there will be room for prices of Hundred Palms to catch up with the average prices of District 19 properties in Hougang and Yio Chu Kang making Hundred Palms an excellent and viable investment option.