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PR Newswire
28-12-2012, 08:02 AM
The Straits Times
www.straitstimes.com
Published on Dec 28, 2012
Woodlands EC draws keen interest
ANOTHER executive condominium (EC) project, Forestville in Woodlands, has attracted strong interest from buyers.
When online applications closed earlier this week, the development at the junction of Woodlands Avenue 5 and Woodlands Drive 16 had received 1,201 applications for its 653 units. That is a subscription rate of 1.8 times.
Average prices are expected to be $700 per sq ft with sales starting today. It will be the first EC to be launched in Woodlands since La Casa in 2005.
Developed by Hao Yuan Investment but managed by MCC Land, Forestville comprises 14 blocks of apartments. Each block is 13 storeys high. It will have a mix of two-, three-, four- and five-bedroom units. Dual-key units and penthouses will also be available. About 30 per cent of the project, to be completed in mid-2016, will consist of dual-key units.
ECs combine elements of private and public housing and often have premium facilities, but are subject to HDB rules specifying a monthly household income cap of $12,000. They are subject to a minimum occupation period of five years and can then be sold only to Singaporeans and permanent residents. They become private property after 10 years and can be sold to foreigners.
ESTHER TEO
www.straitstimes.com
Published on Dec 28, 2012
Woodlands EC draws keen interest
ANOTHER executive condominium (EC) project, Forestville in Woodlands, has attracted strong interest from buyers.
When online applications closed earlier this week, the development at the junction of Woodlands Avenue 5 and Woodlands Drive 16 had received 1,201 applications for its 653 units. That is a subscription rate of 1.8 times.
Average prices are expected to be $700 per sq ft with sales starting today. It will be the first EC to be launched in Woodlands since La Casa in 2005.
Developed by Hao Yuan Investment but managed by MCC Land, Forestville comprises 14 blocks of apartments. Each block is 13 storeys high. It will have a mix of two-, three-, four- and five-bedroom units. Dual-key units and penthouses will also be available. About 30 per cent of the project, to be completed in mid-2016, will consist of dual-key units.
ECs combine elements of private and public housing and often have premium facilities, but are subject to HDB rules specifying a monthly household income cap of $12,000. They are subject to a minimum occupation period of five years and can then be sold only to Singaporeans and permanent residents. They become private property after 10 years and can be sold to foreigners.
ESTHER TEO
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