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Last Updated: 25 February, 2024
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PARC CENTRAL EC (TAMPINES AVE 10) TOP Q2 2024
Parc Central Residences Executive Condominium comprises of 11 Blocks of 16 Storey Towers, with a total of 700 luxurious residential units. This project offers a multitude of condominium facilities, including an expansive 50m Quarry Pool, Gymnasium, Tennis Court, Play Court with Futsal Nets, Duo BBQ Pavilion, Fitness IPPT Stations, Jogging Trail, Basketball Half-Court, Trampoline Trail, Teppanyaki Pavilion, Community Garden, Children Pool, and the Clubhouse.
Parc Central Residence is well-located, with Tampines MRT, and Tampines West MRT being a short distance away. Accessibility is also ideal, with expressway TPE, PIE and KPE nearby. For amenities, there is a coffeeshop and 24hours supermarket across the road, providing ease and convenience to residents. For a full array of dining, retail and entertainment options, Tampines Central is ideal, with 3 shopping malls (Tampines One, Tampines Mall & Century Square), and the Integrated Lifestyle Hub (Our Tampines Hub).
Tampines is also home to many top educational institutes, with Poi Ching Primary, Saint Hilda’s Primary and Secondary, Gongshang Primary, Junyuan Secondary, to Temasek Polytechnic and UWCSEA East Campus International School. Families with school-going children will enjoy the proximity, saving on travel time.
Parc Central offers excellent and spacious floorplan layouts that will appeal to families of all sizes. From 3 Bedroom Deluxe units to 5 Bedroom Luxury Units, and a selection of Pool Facing and Unblocked Facing, there is an ideal home for every family.
Parc Central Residence is attractively priced. Being an EC, it is priced significantly lower than comparable private condominiums in the same vicinity. Yet, this development will transform into a private condominium in the next 5-10 years, reaping the price difference as profits for the owners. It is a privilege for Singaporean families to be able to purchase an EC, and all eligible households should consider this option for family planning.
HIGHLY ANTICIPATED PROJECT IN 2024
PROJECT INFORMATION
Project Name: Parc Central EC Residences
Developer: Hoi Hup JV Sunway
Total Units: Appx 700 Residential Units (3 to 5 rooms)
No. of Blocks: 11 Blocks
Site Area: 24,933.70 sqm / 268,386.35 sqft
Estimated TOP: Q2 2024
Address: 119 - 139 Tampines Street 86
Tenure: 99 Leasehold
District: 18 Tampines/Pasir Ris
Price: from $1.394mil
Parc Central Executive Condominium
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Parc Central Residences EC Developer
Parc Central Residences EC is developed by Hoi Hup Sunway, which is a joint venture and consortium comprising Hoi Hup Realty Pte Ltd and Sunway Developments Pte Ltd, under Sunway Group. This winning collaboration has been behind the launch of many projects and quality homes including the most recent and very well-received EC launch Parc Canberra EC, which sold 64% on its opening weekend, and also Arc at Tampines, Sophia Hills, Sea Esta, City View @ Boon Keng, The Peak.
Showflat Location
Frequently Asked Questions
What is an Executive Condominium?
An Executive Condominium (EC) is a type of housing in Singapore that combines elements of public and private housing. Developed and sold by private developers, ECs are designed to cater to the needs of the "sandwich class" – individuals whose household incomes exceed the limits for public housing (HDB flats) but find private condominiums relatively expensive.
Is an executive condo part of HDB?
For the initial 10 years, executive condominiums are classified as Housing and Development Board (HDB) assets, leading to their classification as hybrid private-public properties. Nonetheless, the Singaporean government provides financial support in pricing and permits the utilisation of specific CPF housing grants (elaborated further below).
What is the difference between a private condo and an executive condo?
In the initial years of ownership, ECs are subjected to specific limitations, during which they are exclusively sold to Singaporean citizens. After a designated duration, usually around five years, these restrictions are removed, enabling the owner to sell the EC to citizens and permanent residents. Other limitations, guidelines, and mandates must be adhered to as well. In contrast, private condominiums have little to no restrictions. You can also read about HDB vs. private condos, which we think you’ll find interesting.
Why do people buy an EC?
In addition to qualifying for CPF housing grants, ECs generally have prices around 20% lower than regular condominiums because of the financial support provided by the government during their construction stage. These subsidies aim to enhance affordability for a specific category of potential home purchasers.
Can I buy or invest in private residential property in Singapore or overseas after I buy an EC unit?
Yes, but only after you fulfil the 5-year MOP period of your purchased EC.
Do I have to pay the agent a commission to purchase EC?
No, you do not have to pay an agent any commission to purchase EC. The agent will assist you in applying, balloting, and booking an EC unit from the developer.
What is the cost of buying an EC?
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Purchase Price
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Stamp Duty (Buyers Stamp Duty)
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Legal fee
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ECs are also NOT affected by Additional Buyers Stamp Duty.
Is EC or BTO better?
Both a Build-To-Order (BTO) apartment and an Executive Condominium (EC) present significant prospects for value increase and a more substantial profit margin. BTO flats come with lower entry hurdles due to their affordability, and they provide a broader array of locations compared to ECs (though still more restricted than resale flats).
What is the salary cap for an executive condo?
The combined earnings of all individuals named in the EC application should not surpass $16,000. Thus, the intended demographic for ECs comprises households with earnings ranging from $14,000 to $16,000 per month.Upon reserving an EC unit, the property developer will provide instructions regarding document submission, including income-related papers.
What must I bring to book an EC unit?
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NRIC
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Birth certificate and marriage certificate
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3 months payslips (payslip issued for the month of application for EC unit and immediately preceding 2 months) or an official letter from their employers stating their 3 months gross income ( for the month of application for EC unit and immediately preceding 2 months), an income tax return or assessment; and
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Other documents as required by the developer or HDB.
Check Your Eligibility
You must meet the eligibility conditions to buy an Executive Condominium (EC) unit from a property developer. Please also find out if you must pay a resale levy and what conditions will apply after you buy an EC unit, before you apply for an EC unit.
Get in touch with us to access your:
✔ Eligibility to buy an Executive Condominium
✔ Financial planning including loan calculation and budgeting
✔ Timeline planning on selling & buying the next home
Normal Progressive Payment Scheme
Please contact us to learn more about Normal Progressive Payment Scheme and Deferred Payment Scheme. Bridging loan is available for HDB existing owner. Maximum Loan to Value to subject to TDSR (Total Debt Servicing Ratio). Please contact us to do a full set of financial calculation.
5%
Booking fee upon unit selection. Payable by cash only.
15%
Exercise fee upon signing S&P. Payable by Cash or CPF OA.
5%
Normal Progressive Payment Scheme. Payable by Cash or CPF OA.
75%
Normal Progressive Payment Scheme. Payable by bank loan
Parc Central Executive Condominium
(Tampines
Ave 10)
Developed by:
