Homebuyers are often drawn to executive condos (EC) for their relatively more attractive prices when compared to surrounding condos especially when executive condos (EC) also offer a blend of private condo-style living with the affordability of an executive condo (EC). Hundred Palms Residences EC is seen as an excellent choice for families and first-time buyers due to its prime location, affordability, strong amenities and investment potential making it one of the most sought-after executive condos (EC) in Singapore.
Recently a 13th floor, 1,528 sqft unit located at Hundred Palms Residences EC on Yio Chu Kang Road at Block 266 changed hands for S$3,058,888, equivalent to S$2,001 per square foot (psf). Although the transaction is still pending completion, the Option to Purchase (OTP) has already been granted, making it a done deal in the eyes of the market.
Obtaining it Temporary Occupation Permit (TOP) in 2019 and meeting its Minimum Occupation Period (MOP) a few months ago, Hundred Palms Residences EC still has a healthy lease balance of about 93 years, making it an attractive option for buyers looking for long-term value.
Hundred Palms Residences EC location on Google Map
Why ECs remains a popular choice among home buyers
"Buyers often choose executive condominiums (ECs) over private condos due to several key advantages, especially in terms of affordability, investment potential and value for money." said Kiwi Lim, Associate Group Director from Propnex Realty.
Here’s why ECs remains a popular choice among home buyers:
1. Prime Location & Connectivity
- Well-Connected to Major Areas: Located in Hougang/Yio Chu Kang, Hundred Palms is near key expressways like CTE, KPE, and SLE, offering easy access to the CBD, Orchard, and Changi Airport.
- Good Public Transport: Close to Hougang MRT (future Cross Island Line) and Serangoon MRT (NEX Mall & Circle Line interchange).
- Lower Entry Price Compared to Private Condos: As an Executive Condo, it is priced lower than private condos but comes with similar facilities.
- Potential for Future Capital Appreciation: After the 5-year Minimum Occupation Period (MOP), it can be sold to Singaporeans and PRs, and after 10 years, it becomes fully privatized—increasing its resale value.
- Nearby Shopping Malls: Residents enjoy proximity to Hougang Mall, NEX, AMK Hub, and Compass One.
- Good Schools Nearby: Popular schools like Rosyth School, Xinmin Primary & Secondary, and Serangoon Junior College make it ideal for families.
- Lifestyle & Recreation: Hougang Sports Centre, Serangoon Gardens, and the Punggol Digital District are nearby, offering entertainment and leisure options.
- Luxurious Features: Despite being an EC, Hundred Palms offers full condo facilities, including a 50m lap pool, gym, clubhouse, BBQ pits, and function rooms.
- Smart Home Features: Comes with smart security systems and home automation, enhancing convenience.
- One of the Fastest-Selling ECs: Hundred Palms sold out within hours of launch, showing strong demand for well-located ECs with good pricing.
- Hundred Palms is seen as a rare EC in the Hougang-Yio Chu Kang Area: EC launches are rare in mature estates, making this a unique opportunity for homebuyers and investors.
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