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)

Citizenship
  • Main applicant must be a Singapore Citizen
  • Family nucleus in the application must have at least one other Singapore Citizen or Permanent Resident.
Age
  • 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
Family Nucleus

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
Income Ceiling
  • Your total monthly household income must not exceed SGD$12,000
Ownership of Private Property

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.

Owners/Ex-owners of HDB flats / DBSS flats / EC units

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.

Definition of First-timer Applicants

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.

Definition of Second-timer Applicants

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

Existing Owner or Ex-Owner

* 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

Ex-owners of an EC

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.

30-Month Period
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.

Essential Occupiers

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.

Divorcees

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

Person Who Has Bought an EC/DBSS Flat with CPF Housing Grant

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.

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Conditions after Purchase of Twin Waterfalls Condo
Selling of current HDB / DBSS flat in the open market

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.

Enjoyment of Subsidy

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.

Minimum Occupation Period (MOP)

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.

Buying another subsidised housing

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

Resale Levy

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.

Interest in Private Property

You cannot invest in private residential property during the 5-year minimum occupation period.

Source: HDB web site

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THE AVENIR SHOWFLAT

This is a new condominium that is being built along River Valley Road in the prime Orchard Road belt, in the heart of the Singapore CBD. The Avenir showflat is currently under construction, and will only launch for VIP Preview in early 2019.

Its location is practically on the doorstep of Great World MRT station, an interchange station serving 3 MRT lines; the North-East purple line, the North-South red line, and the orange Circle line. Which makes a it super convenient for travelling to any part of Singapore.

The Avenir is actually part of the residential estate of Robertson Quay too. The north-east part of the site is bounded by River Valley, just across from another 99 year leasehold condominium called Sophia Hills, that recently sold out. However the Avenir condo has one huge advantage over all the residential developments on top of Mount Sophia – it is much more easily accessible.

That’s because the site slopes, quite steeply in fact, such that the southern end is at the bottom of Mount Sophia, accessible along Handy Road, which is the same level as the entrance to the MRT station and to Plaza Singapura.

Hence residents need not climb up and down the long staircase here to reach the MRT and Orchard Road, unlike residents staying at the top of the hill.

The Avenir condo is being developed by CDL Regulus, a wholly owned subsidiary of City Developments Pte Ltd, which in turn is part of the Hong Leong Group. Approvals for the Avenir showflat and floor plans are still pending approval from the relevant authorities.

Just drop us a note if you would like to be kept posted on when these will be ready. Pricing is expected to be in the region of $2,800 to $3,200 PSF. There will be only 376 residential apartments for sale here.

Twin Waterfalls EC is SOLD OUT.

JUNE 2015 UPDATE

Twin Waterfalls EC :: Punggol EC

Twin Waterfalls EC Located in Punggol 21+ Waterfront Town :: CLICK TO ENLARGE

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.

Twin Waterfalls Executive Condo

Artist's Impression . One of the twin waterfalls cascading down 4 storeys

Reasons to buy Twin Waterfalls Punggol EC

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. 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.

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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.

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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.

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Treasure at Tampines Showflat . Launching in 2019

The most affordable private condominium launch will be Treasure at Tampines. It will come close to the pricing of executive condominiums, but without the restrictions that normally apply to them.

Treasure at Tampines is located at Tampines Street 11, close to an exit to the Pan-Island Expressway. It is being developed by Sim Lian Land Singapore on the site of the former Tampines Court that was a former HUDB precinct. The owners sold the land to Sim Lian for what was considered a good price then. But in retrospect it was lower than for subsequent en bloc sales.

The good thing about the Treasure condo is that it is within walking distance from Simei MRT station. Treasure at Tampines showflat has just opened for sale, and had quite a good response with over 270 units selling at the launch weekend. It is now selling slowly but steadily, to buyers drawn by its relatively more affordable pricing that is just a hairs breathe higher than for the new slew of executive condominiums.

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OTHER CONDOMINIUM LAUNCHES

For a more luxury type of development, register here for floor plans or other details or showflat viewing for Martin Modern . Luxury development on the edge of Orchard Road in the lovely Clarke Quay area