Parc Central Residences EC is a new luxurious executive condominium (EC) located along Tampines Ave 10, Singapore. This executive condo development is targeted to launch in the second half of the year 2020. Jointly developed by renowned developers, Hoi Hup Realty and Sunway Development, this new EC has a land size of 24,933.7 square meters with a maximum Gross Floor Area (GFA) of 69,815 square meters. Parc Central Residences will be featuring 695 residential units with a mixture of 3 bedrooms to 5 bedrooms.
Executive Condominium is a hybrid between public and private housing that is designed for Singaporeans to fulfill our dream of staying in a private condo. The new launch price is usually around 15% – 20% lower compared to surrounding private condominium due to lower land cost. With all the factors benefiting Singaporean, it is no wonder Executive Condominium is always very popular among Singaporeans who aspired to upgrade from HDB to Condominium.
Tampines West MRT Station (DT31) is the nearest MRT Station that will link Parc Central Residences to the rest of Singapore via our top-rated public transportation system. For drivers, Tampines Expressway (TPE) that seamlessly connect this new condo launch to other parts of the island, is just within minutes of driving.
LAST UPDATED : 27 May 2020
17 Apr 2020: Showflat viewing by appointment, book your appointment time slot and get priority invitation to the show gallery!
The Journey of Tampines
*Fun fact – Tampines was named after the tree called “Tempinis” which was abundantly in the area. Do you know that the 45 million m3 of sand used for the East Coast Reclamation project was from the sand quarries in Tampines during the 1970s.
Tampines started developing in the early 1980s and was based on the Neighbourhood and Precinct Planning Concept by HDB. Today, we see that Tampines Town has become one of the most developed regional centers in the Eastern part of Singapore.
In September 2013, HDB introduced the “Future Homes, Better Lives” exhibition for Tampines North which envisioned as an extension of Tampines Town to be developed further within the next 10 to 15 years.
Fast forwards to today, Tampines Eco-green which was opened in 2011, showcase a series of natural habitats and was connected via the Tampines Biking Trail and Sun Plaza Park. Singapore first integrated community and lifestyle hub that feature sports facilities, regional library, hawker center, Public Service Centre, Festive Arts Theatre, and many other facilities was officially open on 6 August 2017.
Parc Central Residences will be able to enjoy the fruits of a mature Tampines Town which is rare for an EC as the last EC launched in the Eastern Region is around 8 years ago.
The Journey of Parc Central Residences
The journey of Parc Central Residences started on 31 Oct 2018. An executive condominium site at Tampines Ave 10 was released under Government Land Sales (GLS) Programme by Urban Redevelopment Authority (URA) and the Housing & Development Board (HDB) through public tender.
The scarcity of executive condominium land parcels in the Eastern Region released under the GLS Programme makes it very attractive to the developers. Parc Central Residences EC site was fiercely contested by a total of 7 developers who submitted their bids to earn the right to develop this development.
The joint development between Hoi Hup Realty Pte Ltd and Sunway Developments submitted the highest bid for Parc Central Residences EC which tender for S$434.45 million which translate to S$578 per square foot (PSF) per plot ratio (PPR) and was awarded this rare EC site on 22 January 2019.
Join us on this Journey of Parc Central Residences to become the proud owner of this GEM and accumulate your wealth in the process.
Why Executive Condominium
Executive Condominium is always a very popular choice among Singaporean as proven in the recent EC launches by Hoi Hup Realty and Sunway Developments. The most recent 3 executive condominiums by the same developer sold approximately a total of 1400 units on their 1st day of launch.
Executive Condominium (EC) is priced at around 15% – 20% lower than new private condominium in the same vicinity. The main attribute that allows the developers to sell EC at a lower price is lower land cost compare to a new private condominium site. Beside lower land cost, developers have to be realistic on EC pricing because overly prices will kick out all the potential buyers due to income ceiling and Mortgage Servicing Ration (MSR) that is in place as EC eligibility criteria for Singaporean. Last but not least, first time EC buyers can also get to enjoy up to $30,000 under CFP Housing Grant to purchase an EC.
HDB’s owners are not subjected to Additional Buyer Stamp Duty (ABSD) when they upgrade to an EC. However, the best part is you are allowed to continue staying in your current HDB and only need to sell your HDB unit after obtaining a Temporary Occupation Permit (TOP) for the EC. This essential regulation provides the solution for interim housing needs while waiting for the EC to build. There are also 2 payment schemes for you to choose, 1 of the scheme allow you to start the EC’s monthly installments after TOP.
Have you considered using real estate as a tool to achieve your retirement goal? EC can be one of the paths to wealth creation for you. There is a very high probability for EC’s owner to own 2 properties (1 for own stay and 1 for investment) after achieving 5 years Minimum Occupancy Period (MOP) for the EC. Contact us for a free consultation if you want to know how to achieve this. We will share and tailor a step by step proposal for you to achieve financial freedom through real estate with careful planning.
Do not miss the opportunity if you are eligible to purchase an EC directly from the developers. Due to low entry price, there is a high chance that you will be sitting on good profits that can be used as a springboard to own your 2nd property. Our experienced consultants will be able to assist you and provide you with a few detailed plannings for you to decide on which is the best for you.
Why Parc Central Residences
Parc Central Residences is situated in one of the most developed regional centers in the eastern region of Singapore. In a mature estate such as Tampines, there is plenty of lifestyle amenities and job opportunities to the residents in Tampines.
As a regional center, Tampines can offer Parc Central Residences a seamless connection to the rest of Singapore via multiple expressways. Major shopping malls are just located less than 10 minutes-drive from Parc Central Residences. Nearby Greenery Park like Tampines Eco Green Park will be able to provide excellent bonding activities for family and friends.
Besides the above-mentioned lifestyle benefit of living in Parc Central Residences, You will also most likely be able to enjoy the monetary benefit from Park Central Residences. With the entry price as low as 15% – 20% lower than surrounding new private developments, comparable development facade, and available facilities, it is a no brainer that Parc Central Residences will reap better profits than surrounding private developments.