Hundred Palms Residences EC @ Yio Chu Kang / Near Hougang Ave 9
The closing of the bid for the Hundred Palms Residences at Yio Chu Kang Road/ near Hougang Ave 9 already has generated great interest and excitement in Hougang and in the real estate community. The opportunity to invest in an executive condo development that is situated in proximity to dozens of highly-ranked schools, as well as shopping and dining amenities, is a chance that cannot be missed. Interested parties should register now for a work-in-progress preview.
Hundred Palms EC: A Rare Gem at YCK/ near Hougang
The forthcoming Hundred Palms Residences will offer investors and residential buyers a rare opportunity in the town of Hougang: an executive condominium development. It has been some time since Hougang has seen the development of an executive condo, and the prospect already has generated some media attention and investor intereost. The Hundred Palms Residences address will be on Yio Chu Kang Road on the parcel of land between Houang Avenue 9 and Lorong Napiri. To get early deals before prices start climbing or before units are snatched up for resale, interested parties should stay current and check back often with us for information about Hundred Palms Residences balance units and prices.
Executive condominiums are public-private housing developments that offer the same luxury amenities as private condos, but they have the distinct advantage of being more affordable and a smart choice for investors with a lower buy-in and higher long-term returns. An executive condo (EC) provides the same luxury amenities and facilities as a private one, including a swimming pool, clubhouse, gym, tennis court, security guard, etc.
According to the developer, the Hundred Palms Residences EC will consist of nine blocks that are 15 storeys and that house approximately 560 units. Of those units, some 70% will be three-bedroom units, then 15% will be four-bedroom units, and the rest will likely split up as two- and five-bedroom units. Plans are in the works for a basement carpark, a landscape pool, club house, gym, function room, lounge, and BBQ alfresco dining. Considering past projects by the Hundred Palms Residences developer, there is also the possibility that green spaces, such as a meditation garden or nature walks, will also be integrated throughout the condo grounds. Stay in touch for more updates and a peek at the Hundred Palms Residences brochure.
Executive Condos as a Smart Investment
For both future landlords and residents, executive condos are very smart investments. Executive condos have a lower buy-in that is typically 15-30% cheaper than private condos and 12.6% cheaper in price per square foot (psf) compared to mass market houses. The long-term returns with high profit margins also makes executive condos a smart investment, and the demand for ECs is especially strong in the resale market. While non-landed private properties yield an average of 15% capital gain, investors of ECs can expect to see capital gains of 56%.
The Hundred Palms EC is estimated to have selling prices between $750-$800 psf, which is only slightly above the average for ECs of $745 psf. Ultimately, the final psf will depend on the market.
ECs are also an excellent option for first-time buyers, who are eligible for up to $30,000 of the Central Provident Fund (CPF) Housing Grant.
Nearby Similar Developments To Hundred Palms Executive Condo
Compared to similar developments, the Hundred Palms Executive Condo is just as affordable and, considering the nearby amenities and expected onsite luxuries, the Hundred Palms EC is expected to attract many investors. Although the nearby EC site at Anchorvale Crescent closed in January 2015 for $280 psf, since then their selling prices have risen to $750 psf, according to data from the Property Guru. The Florida, another EC in Hougang that was completed in 2000, had a selling price of $351-$521 psf at launch, and current selling prices are at $705 psf. With an estimated selling price of $750-$800 psf, the Hundred Palms Residences EC warrant the expectation of a slightly higher price, especially because of the proximity of several excellent schools, in addition to many more retail and transportation amenities. Investors and residential buyers should register early before the selling price starts climbing as was the case with the Anchorvale Crescent.
The Prestigious Hoi Hup Realty Pte Ltd
Hoi Hup Realty Pte Ltd, the Hundred Palms Residences developer, is an industry leader with an impressive portfolio of over 900 successfully completed and visually stunning residential projects. Known throughout the housing development industry in Singapore for iconic structures such as The Ford @ Holland and the Waterford Residence, the developer’s striking designs and inclusion of luxury amenities for their condo developments are strong indicators that the Hundred Palms Residences condos will live up to, and go beyond, the expectations of investors and residential buyers. Hoi Hup Realty condos are particularly recognizable for sleek, modern designs that incorporate glass, steel, and innovate use of open spaces. For those interested in Hoi Hup Realty’s Hundred Palms Residences, it is recommended that you should register to keep up-to-date on the Hundred Palms Residences construction progress and development details.
There are dozens of highly ranked schools near the Hundred Palms Residences, all within 4 km and many of them less than 1km distance from the condos. One of the most notable schools, which is only 0.3 km away, is the Rosyth School for primary education, which has the prestigious Gifted Education Programme. Other schools that are less than 1 km away are as follows:
• Al-Istqamah Mosque Kindergarten
• Jenius Kindergarten
• PCF Jin Kayu Blk 518-520-522
• PCF Serangoon Blk 141
• St Vincent De Paul Kindergarten
• Yio Chu Kang Chapel Kindergarten
• Hougang Primary
• Rosyth School
• Yio Chu Kang
• Xinmin Primary School
• Hougant Secondary School
• Serangoon Garden Secondary
• Xinmin Secondary
With so many excellent schools nearby, it is possible to send your children to receive a competitive education that will prepare them for a successful future, while also allowing them to remain within the safety and proximity of the Hundred Palms Residences neighborhood.
Retail, Restaurants, Supermarkets and Lifestyle
There are abundant opportunities for shopping and community participation near the Hundred Palms EC. The nearest shopping mall is the newly renovated Hougang One, which is only less 0.3 km away and which has many retail stores for health, beauty, entertainment, apparel and more. Other nearby malls include the Hougang Green Shopping Centre, the Greenwich V, and the Heartland Mall.
Various restaurants and dining centres can be found in the many shopping malls in Hougang, as well as at the Chomp Chomp Food Centre, the Serangoon Food Market and Food Centre, and the Hougang Street 21 Block 209 Market and Food Centre. For supermarkets, there are the Fairprice at the Hougang One, the Sheng Siong at Serangoon North, the Giant at Buangkok Crescent, and the Cold Storage at the Greenwich V.
Residents of the Hundred Palms Residences who enjoy an active lifestyle or participate in athletic events can enjoy the onsite gym at Hundred Palms Residences, or they can venture into the community and partake of the facilities at the Hougang Sports Hall, the Serangoons Garden Country Club, the Hougang Stadium, and the Kovan Sports Centre.
Benefits of the Government Masterplan for Yio Chu Kang/Hougang and Hundred Palms Residences
The government masterplans for the town of Hougang will allow the Hundred Palms Residences residents to enjoy more of the town’s historic heritage, communal facilities, and green spaces, as well as make use of improved transportation and a robust economy. The Urban Redevelopment Authority (URA) currently has plans in place for a one-stop community club at Hougang Avenue 9, where there will be a hawker centre, arts centre, and a healthcare facility. There are also plans for the development of more retail opportunities at Hougang Central, Kovan, Hougang Avenue 7, Jalan Pelikat, and Buangkok Drive. Plans are in place for the development and/or enhancement of various parks throughout. In addition to improvements to roads and transportation services, the URA will also put a new integrated transport hub at Hougang MRT Station, so that local residents and Hundred Palms residents can enjoy better transportation in and out of Hougang. The Hougang economy and job availability are also projected to rise steadily with URA plans for the redevelopment of the Defu Industrial Park, as well as the upcoming Lorong Halus Industrial Park.
To receive updates on the development of the Hundred Palms Residences, including a sneak preview of the Hundred Palms EC brochure pdf and word of when there are Hundred Palms Residences available units, investors and buyers should register now!