The iNz Residence EC · Choa Chu Kang EC Location

iNz Residence sits between Choa Chu Kang Avenue 5 on one side, and Brickland Road on the other (across which will be the new Tengah Forest Town). Its main entrance will be from Choa Chu Kang Avenue 5.

A HDB precinct lies on its west, providing a host of supporting amenities, like shops and food centres. To its east is open land, zoned for a school. As schools are generally only built up to 6 or 7 floors, it will afford wind flow from that side.

Choa Chu Kang Park Connector borders the south of the site, in front of Brickland Road. This links to Choa Chu Kang Park and Bukit Batok Town Park. It also makes it safe and easy to cycle to the Choa Chu Kang MRT Station.

The iNz Residence EC location beside Tengah Forest Town . Click to Enlarge

iNz Residence EC Location Plan and Surrounding Growth Districts

The iNz Residence EC · Highlights

Choa Chu Kang Town Centre & MRT Station, with Lot One Shopping Mall and the public library, are within easy reach of the iNz EC.

Nearer still there is Sunshine Place, within 5 minutes walk, which houses a Giant supermarket, a Kopitiam foodcourt, a Kinderland, a Learning Vision @ Mall, a clinic and other shops.

If you prefer to walk to a slightly bigger shopping centre, Keat Hong Shopping Centre is around 550m away, cutting diagonally under the HDB blocks. About an 8 minute walk.

This is a one-stop mall for residents. Has all the basics like minimarts, a wet market, medical clinics, 3 eating outlets, and food centres. This place is also known as a paradise for fashionistas. Lots of hairdressing salons, spa and manicure shops.

iNz Residence is also within a short drive of the Hillion Mall and the Bukit Panjang Integrated Transport Hub that is completing in 2017. The hub incorporates an air-conditioned bus interchange that links seamlessly to the Bukit Panjang LRT Station (BP6) & Downtown Line MRT station (DT1). This offers an alternative MRT route to the City Centre.

As with its previous Visionaire EC project, Qingjian will make iNz Residence a Smart Home Living project. They will incorporate the infrastructure to enable homeowners to stay connected with, control, and monitor their homes remotely, via their mobile devices.

And of course, iNz Residences EC, being in Choa Chu Kang, is on the outskirts of the Jurong Innovation and Lake Districts. This 2nd CBD of Singapore offers a wide choice of shopping, dining, entertainment & healthcare amenities like IMM, Jurong Gateway, Westgate, JCUBE, JEM, the Ng Teng Fong General Hospital, and Jurong Community Hospital.

Hillion Mall @ Bukit Panjang . Short Drive from iNz Residence EC

NEW LAUNCH 2023/2024 :: THE ARCADY AT BOON KENG

Here we will discuss another upcoming condo launch, to be called the Arcady at Boon Keng, along Barnabas Lane. Unlike iNz however, it won’t be an executive condominium, but will rather be a freehold private condominium.

The Arcady condo floor plans will be launched by a collaboration of three parties, namely KSH Holdings, SLB Development, and H10 Holdings. All are local Singapore born and bred developers, unlike for iNz that is being developed by Qingjian.

The other important factors to distinguish the Arcady at Boon Keng are its accessibility and location. Its site at Barnabas Lane, off Serangoon Road, is within what is typically known as the RCR or Rest of Central Region. Residences within this zone certainly command a premium over those in the suburbs, or OCR (Outside Central Region) areas, like for iNz Residence.

In terms of accessibility, it normally doesn’t get much better than this for a freehold development. The Arcady at Boon Keng site is within 500 metres, or 6 minutes walk, from Boon Keng MRT station. That makes it close to the city centre and CBD. Whether by train or car, it is within 10 minutes drive from Orchard Road, and 15 minutes from the Raffles Place / Marina Bay CBD.

The Arcady condo floor plans will likely only be finalised towards the end of 2023, or early 2024. Hence the showflat will also likely only launch around the same time. As for the Arcady prices, that has not been announced yet either.

If you are interested, do head over to the other site to take a look at the details. If you register your interest as well, we will send you the Arcady floor plans once available. This project promises to be an exciting addition to the Kallang Planning area.

Inz EC Launch . Are ECs better long-term investments than private condos?

The Business Times, 25 February 2016 edition reported that prices of ECs (Executive Condominiums) catch up with those of private condos after the initial 5-year minimum occupation period (MOP). And incidentally, even more so a further 5 years after that, 10 years after completion.

Historically, developer launch prices for ECs (such as at the Inz EC launch) is usually about 20% lower than for similarly located private condominiums. This is attributable to the sales restrictions imposed on ECs, and their attendant lower land costs.

Visionaire EC by Qingjian . Developer for Inz EC Launch

But upon fulfilment of the 5-year MOP, and upon reaching the 10 year full privatisation stage, the gap narrows to 9% and 5% respectively.

At completion of the MOP, ECs can be sold to Singapore permanent residents or citizens, but not to foreigners. But once 10 years is over, they are designated as privatised and the restrictions are lifted, so they can be sold to foreigners too.

The Inz EC Launch · A Sure Profit?

This does not mean that every EC is guaranteed a profit. Statistics show that it depends largely on the price of initial purchase and the time frame.

The study matched the data for 21 EC projects that had already been privatised, with their profits at the 5th and 10th years. They found that 13 projects made a loss at the 5th year. This was mainly because they were purchased during the boom time before the Asian financial crisis.

The other 8 ECs managed profits of over 20 per cent.

But upon privatisation (ie. at the 10th year), all the ECs were profitable. How much gains owners could get depended on the location, and supply of surrounding condominiums at the point of sale.

So based on historical sales data, 1st owners of privatised ECs could be sitting on quite significant gains.

Bellewoods EC by Qingjian . Developer for Inz Residence Launch

The Inz EC Launch · A Trend

In addition, the study highlighted a trend that The Business Times had reported on as well, in an earlier article in January 2016. That report suggested that increasing vacancy rates of ECs were a sign of buyers treating their ECs as an investment. Young couples could be continuing to stay with their parents after marriage, while waiting for the value of their ECs to appreciate before selling.

The study also highlighted another finding that is perhaps not so surprising. Comparing ECs with private condos, if each is held for 10 years, ECs could be the better long-term investment. This is due to their higher internal rate of return as a result of their lower purchase prices.

Also after the 5 year MOP, ECs can be rented out. Their rentals are generally on par with similar private condos, thus giving a higher yield. This helps to defray their costs quite significantly.

The hypothetical study assumed a private condo of 1,100 sq ft bought for S$1.09 million, with a comparable EC costing S$875,000.

Its buyer is assumed to have a household income of S$14,000, and a loan of 80 per cent over 25 years at fixed interest of 2.5% pa.

Rents for both are assumed as S$3,000 monthly. To simplify the study, other costs such as stamp duties, taxes and maintenance fees were not considered.

At the 5th year, the private condo appeared the better buy, as the EC could not offset its mortgage payments with rental income, as it is barred from renting out the whole unit. This dampened its capital appreciation.

But once the rental restrictions were lifted, from the 6th year onwards, the EC quickly outperformed the private condo.

The Inz EC Launch · Conclusion

Can it be concluded that this partially state-subsidised housing form for the “sandwiched class” buyer is no longer relevant? An author of the study said no.

“…given the significant price gap between ECs and private condos, ECs provide an affordable option to HDB upgraders or 1st timers who aspire to achieve a higher standard of living. Though some may be buying ECs for investment, the majority are buying them for their own occupation.“, she explained.

Adapted from: The Business Times, 25 February 2016 (See report – opens in new window).

INZ EC LAUNCH · SHOWFLAT VIEWING · E-APPLICATION

If you would like to be kept posted on all the Inz Residence launch updates or to register for a showflat viewing, please email us here.

THE LENTORIA FLOOR PLANS . NEW CONDO LAUNCH

Lentoria Condo Showflat. Upcoming condominium development in District 28 in Lentor Hills Estate. Within 6 minutes walk to Lentor Modern mall and Lentor MRT station. The Lentoria floor plans being developed on a new site that was formerly forested land. Opposite Hillock Park and Lentor Hills Residences.

The developer for this project is TID Residential, a joint venture of Mitsui Fudosan and Hong Leong Group . TID will only release the Lentoria floor plans closer to the launch date. This is likely to be in the early part of 2024.

If you are interested to view the Lentoria condo showflat, do head over to the website to register. We will keep you posted on the exact launch dates and will send you the Lentoria condo floor plans as soon as available.

INZ RESIDENCE EC

iNz Residence Official Launch . Choa Chu Kang EC . Smart Home Executive Condo . Singapore

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iNz Residence EC | Choa Chua Kang EC

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