Twin Waterfalls EC is SOLD OUT . For another EC with units available, see Topiary EC.
Twin Waterfalls EC is an upcoming executive condominium located at the junction of Punggol Field & Punggol Way just around 650m from Punggol Town Centre and MRT Station, and close to Punggol Reservoir. Its waterfalls theme echoes the soothing lushness & waterfront nature of Punggol.
Condominiums within walking distance of an MRT station and/or town center enjoy a premium in price when you resell. Prive EC, which is the same distance from the MRT station as Twin Waterfall EC, was enormously popular and has sold out. If you missed getting a unit there, you might want to register for Twin Waterfalls.
Reasons to buy Twin Waterfalls Punggol EC
. Around 650m from Punggol MRT station.
. 10 minutes walk to Punggol Town Centre & Watertown commercial centre & shops.
. One minute drive from TPE leading to CTE & KPE. Just 15 – 20 minutes off-peak to Suntec City.
. Fresh breezes from the seafront & reservoir. Kite enthusiasts abound in Punggol for good reason!
. Full & extensive condominium facilities
. Premium fittings & finishes comparable to private condos
. Reputable developer Frasers Centrepoint known for quality construction & high end condominiums
Located in waterfront township of Punggol21+ with its exciting growth potential:
Tap on its myriad fun activities, water sports (jet-skiing, kayaking, scuba-diving), parks & gardens with jogging & cycling tracks by the reservoir. Chill out at waterside al-fresco cafes & promenades.
Economics of Twin Waterfalls EC
. 15 to 20% (ie. around $200K to $300K) cheaper than similar new private condominiums.
. First time buyers are eligible for $30,000 CPF housing grant.
. No resale levy payable for 2nd timer buyers.
. No COV (cash you pay above value of the flat; often more than the EC 5% booking fee)
. Agents do not charge buyers any fee or commission (unlike for HDB resale flats).
Seletar Aerospace Industry Cluster and Tampines & Changi Business Parks accessible via the TPE provide good resale and rental catchments after the 5 year MOP.
Historically of all residential property types, executive condominiums have achieved the most capital appreciation. Not only do they match the general capital appreciation of the overall market, but they also enjoy greater gain as they move closer to prices of private condos from the 5th year onwards. Those near MRT stations enjoy even higher gains.
Twin Waterfalls EC Sale
This Punggol EC launched Saturday 18 February 2012.
Now open for booking on a first-come-first-served basis to first timers.
Second timers can register in advance for the balloting to be conducted on 18 March 2012.
To register your interest or find out eligibility to purchase, please email us at Twin Waterfalls EC Contact Form.
FAQ (Frequently Asked Questions)
When is Twin Waterfalls EC open for booking?
First balloting took place on 18 February 2018. Now open for booking by 1st timers on a first-come-first-served-basis.
Second timers can register to be kept informed on the 2nd timer balloting on 18 March 2012.
What must I do to book a unit?
Email Us and we will send you the application form. (Application cannot be done via HDB website.)
We will subsequently have to do an eligibility check during the e-Application before you can proceed to book a unit.
Am I eligible to buy Twin Waterfall EC?
You are if:
. You are a Singapore citizen and your partner is a Singapore citizen or PR.
. At least 21 years old.
. Your total monthly household income does not exceed $12,000.
. You form an essential family nucleus as defined by HDB.
. You & your partner have not bought a flat direct from HDB or with a grant more than once.
. None of your family nucleus has owned private property within the last 30 months.
That was the quick answer; for detailed criteria, see Twin Waterfalls Eligibility.
Can I buy this Punggol EC if I currently own a HDB flat?
Yes, if you
. Have not bought a flat direct from HDB or with a grant more than once.
. Have already stayed in your flat at least 5 years if bought direct from HDB or with a grant.
. Will have fulfilled your MOP before this EC gets TOP, if your resale flat was bought without a grant.
But you must sell off your current flat within 6 months of TOP of Twin Waterfalls.
When can I sell or rent out my Twin Waterfalls EC unit?
. Can be sold to Singapore citizens or PRs after 5 years, or rented out to anyone then.
. Fully privatized after 10 years. Can then be sold to anyone, including foreigners or developers.
What makes this Punggol EC a good buy?
Though subject to EC purchase & sale restrictions, Twin Waterfalls is:
. 15 to 20% cheaper than private condos. (New D19 condos near MRT range $900 to $1100 psf.)
. Near MRT = greater potential for capital gain, as value rises closer to private condos after 5th year.
. You still get a condominium with full facilities (pool, gym, spas, etc) & finishes and fittings.
. By Frasers, a top developer with an excellent track record for premium design & quality.
What other benefits do buyers get?
1st timer buyers
. May be eligible for the CPF housing grant, up to $30,000 to help pay the 15% downpayment.
. Get priority in selecting a unit (95% of units are reserved for 1st timers in first month).
2nd timer buyers
. No longer need to pay a resale levy (after 2009).
Buyers with existing housing loan can still get up to 80% bank loan by opting for Deferred Payment Scheme.
What is the difference between EC vs DBSS flats?
. Slightly cheaper. May be about 20% cheaper depending on location.
. Maximum household income ceiling is $10,000 to buy a unit.
. You can take a HDB loan if your monthly household income is not more than $8,000.
. No facilities.
. Essentially a premium HDB flat that comes with finishes & fittings. You don’t own the land.
. Slightly higher price, but potential capital gain may far outstrip the difference in price.
. Maximum household income ceiling is $12,000 to buy a unit.
. No HDB loan; use bank loan instead.
. Full condominium facilities inclusive of security (gated community).
. Essentially a condo. You co-own the land & communal facilities.
. Privatized ie. become private condo after 10 years. May even sell en-bloc to developers eventually.
What’s the payment schedule like for Twin Waterfalls EC?
If NOT currently paying off a housing loan or if you opt for Deferred Payment Scheme:
- First 5% cash (via a cheque) at time of booking the unit.
- Next 15% within 9 weeks (typically) of booking the unit. This 15% can be from CPF Housing Grant, or from CPF funds, or from cash.
- The remaining 80% can be from CPF funds, bank loan, or cash. This is payable progressively, which means you (or the bank if you take a loan) pays out the money as and when construction work reaches certain stages. If you take a loan, your monthly instalments start small and slowly increase.
If currently paying off a housing loan:
- First 5% cash (via a cheque) at time of booking the unit.
- Next 15% within 9 weeks (typically) of booking the unit. Of this 5% must be from your own cash, and the remaining 10% can be from CPF Housing Grant (if eligible), or from CPF funds, or from cash.
- When foundation works complete, another 10% is payable to the developer. This can be from CPF funds, or cash.
- When reinforced concrete (RC) framework is completed, another 10% is payable to the developer. This can be from CPF funds, or cash.
- The remaining 60% can be from CPF funds, bank loan, or cash. This is payable progressively, which means that you (or the bank if you take a loan) pays out the money as and when construction work reaches certain stages. So if you take a loan, your monthly instalments start small and slowly increases.
Do I have to pay any admin charges or commissions or agent fees?
No, no charge at all. We will gladly provide you all the information, and help you book your unit of choice directly from the developer, without charging you anything.
For queries or to register interest, please Email Us.
HDB Eligibility Conditions
As Twin Waterfalls is an Executive condominium, you must meet HDB’s eligibility conditions in order to buy a unit. If you need help to assess your eligibility, please send your query using the Contact Form.
Source: HDB web site (www.hdb.gov.sg)
- Main applicant must be a Singapore Citizen
- Family nucleus in the application must have at least one other Singapore Citizen or Permanent Resident.
- All applicants must be at least 21 years old at time of applying for Twin Waterfalls EC
- If applying under the Joint Singles Scheme, both must be at least 35 years old
You must form a family nucleus under one of the schemes listed here:
- Public Scheme
You (the applicant) and;
* Your spouse, and children (if any)
* Your parents, and siblings (if any)
* Your children under your legal custody (if you’re widowed or divorced)
- Fiance/Fiancee Scheme
You (the applicant) and your fiancee/fiance
- Orphan Scheme
You (the applicant) and;
* Your unmarried brothers/sisters, or
* Another single unrelated orphan
- Joint Singles Scheme
You (the applicant) and another single person
- Your total monthly household income must not exceed SGD$12,000
You, your spouse, & any occupiers in this application, and their spouses, must not own or have disposed of, or have any part or interest in any other flat, house, building or land.
* Within 30 months before the date of application, and
* Between the application date and the date of taking possession of Twin Waterfalls EC.
Each Singaporean household is allowed to buy the following housing types only twice:
* a flat directly from HDB;
* a resale flat with the CPF Housing Grant;
* a DBSS flat from a developer;
* an EC apartment from a developer.
If you’ve already bought two such apartments, you cannot apply for, or be listed as an essential occupier in an application to buy this Punggol EC.
You and any essential family members listed in your application to buy the flat do NOT:
* Own a flat bought direct from HDB, DBSS flat or Executive Condo bought from developer
* Have sold a flat bought direct from HDB, DBSS flat or Executive Condo bought from developer
* Have received the CPF Housing Grant for the purchase of an HDB resale flat
* Have enjoyed other forms of housing subsidy (eg. SERS, privatisation of HUDC estate, etc)
95% of Twin Waterfalls units will be set aside for first-timers during the initial launch period.
You or the essential family members in your application have owned/sold or are currently owners of:
* Any HDB flat that was bought from HDB, or
* Any resale flat that was bought under the CPF Housing Grant Scheme, or
* A DBSS flat or an EC bought from the developer, or
* Have enjoyed other forms of housing subsidy (eg. SERS, privatisation of HUDC estate etc.)
Second-timers buying Twin Waterfalls EC are not required to pay a Resale Levy
* Flat bought directly from HDB
* DBSS flat bought from the developers
* Resale flat bought under the CPF Housing Grant Scheme
If you belong to any of the above categories, you may apply to buy Twin Waterfalls EC on condition that a 5-year period (excluding any period of subletting of the whole flat) has lapsed from the #date of taking possession of the flat to the date of application for this Punggol EC.
# The date of taking possession refers to following dates:
* Date of key collection, for flats that are bought direct from HDB
* Date of resale completion, for resale flats bought from open market with CPF Housing Grant
* Date of transfer at market value of the flat bought with CPF Housing Grant
* Date of key collection for EC/DBSS flats bought from the developer
Are you, your spouse or any of the essential occupiers listed in the application an ex-owner of an Executive Condominium bought directly from the developer? If yes, you would need to wait 5 years from the date of taking possession of the earlier Executive Condominium before applying for this Punggol EC.
In addition, you need to wait out a 30-month period from the effective date of disposal (i.e., date of legal completion of the sale of your Executive Condominium, evidenced by the Notice of Transfer or such other documentary evidence as HDB may require) of the Executive Condominium before you can apply to buy a Twin Waterfalls condo unit from the developer.
Any person applying to buy this Punggol EC or be listed as an occupier must not currently be listed as an essential occupier of:
* An existing HDB flat bought directly from HDB,
* A DBSS flat bought under the CPF Housing Grant Scheme, or,
* A resale flat bought under the CPF Housing Grant Scheme
However, you may be eligible if you have stayed in the existing flat for at least 5 years from the #date of taking possession of the existing flat to the date of application for a new flat.
A divorcee may apply to buy a Twin Waterfalls executive condo unit or be listed as an occupier after 5 years from the date the divorce is made absolute to the date of application for a new flat if his matrimonial flat was:
- Bought directly from HDB,
- A DBSS flat bought under the CPF Housing Grant Scheme, or
- A resale flat bought from open market under the CPF Housing Grant Scheme
However, the 5 years period will not apply if:
* The matrimonial flat was bought from the open market without any CPF Housing Grant
* Applicant is applying for the flat with parents or new spouse
A person who bought an EC or DBSS flat with CPF Housing Grant and terminated the Sale and Purchase Agreement may apply to buy Twin Waterfalls executive condominium.
However, this is allowed on the condition that a 5-year period has lapsed from the termination date of the Sale & Purchase Agreement of their earlier EC or DBSS flat purchase, to the date of application for this Punggol EC.
If you currently own an HDB / DBSS flat, you and/or your spouse must dispose of the flat within 6 months from the date of issuance of the Temporary Occupation Permit in respect of Twin Waterfalls EC.
If you intend to apply to purchase Twin Waterfalls EC where the Temporary Occupation Permit for the EC has been issued, you will be required to dispose of your existing HDB / DBSS flat within 6 months from the date the Developer sends you the Notice of Vacant Possession.
You and your spouse will be considered as having enjoyed a housing subsidy when you buy a Twin Waterfalls executive condo unit from the developers under the CPF Housing Grant Scheme.
Sale of Twin Waterfalls Executive Condo
You have to occupy your Punggol EC unit for at least 5 years before you can sell it in the open market.
Essential occupiers in Twin Waterfalls Executive Condominium
Occupiers who are essential in forming a family nucleus with you in the EC application must continue to be listed in the application and stay in the EC during the 5-year minimum occupation period.
They cannot make a separate application, or be listed as occupiers in another application to buy an HDB flat or another EC within the MOP.
If you sell your Twin Waterfalls EC unit in the open market, you must wait for 30 months after the sale before you can submit an application to buy:
* a new flat from HDB
* an apartment under Design, Build and Sell Scheme (DBSS) from developers
* another EC from developers
You are liable to pay a resale levy of $55,000 when you buy a second subsidised flat from HDB or take over ownership of a subsidised HDB flat after selling Twin Waterfalls EC if you bought it under the CPF Housing Grant Scheme (after meeting the 5-year Minimum Occupation Period (MOP) and the 30-month period).
If you do not intend to buy a second subsidised flat from HDB, for example, if you are buying a resale flat, a new DBSS flat, an EC from the developer, or a private residential property, you need not pay the resale levy.
You cannot invest in private residential property during the 5-year minimum occupation period.
Source: HDB web site