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Associate Branch District Director @ PropNex Realty Pte Ltd | Real Estate Sales, Team Building

Everything EC Buyers Need to Know—Featuring Novo Place: With the recent launch of Novo Place Executive Condo (EC) at Plantation Close, many potential buyers are excited to explore this new opportunity in the evolving Tengah region. The last EC launch, Lumina Grand, took place in January 2024, making it the perfect time to refresh our understanding of what ECs offer and why Novo Place might be the ideal choice for your next home. In this article, we’ll cover everything you need to know about ECs, the highlights of Novo Place, and why it could be your dream home. Introduction to Executive Condos (ECs) Executive Condominiums (ECs) offer a unique blend of affordability and luxury, making them a popular option for Singaporeans aspiring to own a private property. Developed by private developers yet sold with Housing & Development Board (HDB) subsidies, ECs provide access to premium facilities while being more affordable than private condos. Here’s a quick rundown: * Definition & Distinction: ECs start as subsidized properties, subject to HDB rules for the first 5 years, including a Minimum Occupation Period (MOP). After 5 years, they can be sold to Singaporeans and PRs. At the 10-year mark, EC are fully privatised and can be sold to foreigners, potentially increasing their market value. * Eligibility Criteria: To purchase an EC, buyers must be Singaporean citizens and form a valid family nucleus (e.g., couples and families with children). This eligibility ensures a sense of community among owners and contributes to steady demand. * Key Benefits: EC buyers enjoy CPF Housing Grants, which significantly reduce the upfront costs, making ECs a popular choice for young families and first-time homeowners. The lower entry price compared to private condos and the potential for appreciation after privatization make ECs an appealing investment. What’s New: Novo Place Executive Condo at Plantation Close Novo Place, the latest EC project launched at Plantation Close, has already caught the attention of potential homeowners. Here’s a closer look at what makes this development a standout option: * Location: Located within the heart of the burgeoning Tengah area, Novo Place is surrounded by greenery and is close to future MRT stations, reputable schools, and shopping hubs. Tengah is known for its “Forest Town” concept, which emphasizes sustainable living and smart town features, making Novo Place ideal for those seeking a modern, eco-friendly lifestyle. Tengah’s attractiveness is further heightened by the upcoming relocation of Anglo-Chinese School (ACS) to the area, making it a sought-after location for families prioritizing top-tier education. *… https://lnkd.in/gyAjvWrX #PropertyNetSg

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