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.

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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.

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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.

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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.

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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.

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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.

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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.

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What is the difference between EC vs DBSS flats?

DBSS flat
. 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.

EC flat
. 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.

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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.

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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.

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For queries or to register interest, please Email Us.

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ONE MEYER CONDO @ MEYER PLACE

The One Meyer condo is a brand new freehold boutique residential development at the corner of Meyer Place and Meyer Road. It replaces the former The Albracca, that was sold in a collective en bloc sale in July 2017. The bidding for this site drew several bids, and was won by Sustained Land, who will develop it into a condominium of approximately 65 units.

The One Meyer showflat is still under construction, and won’t open for viewing for a while yet. Similarly, the launch date is still undecided. In the meantime, here is some interesting background information for your perusal.

The rather intense bidding for this site reflects its many attractive qualities. For a start, it sits almost on the doorstep of the future Katong Park MRT station on the Thomson East Coast Line, directly opposite it in fact. One Meyer condo residents need only cross the two-lane Meyer Road to get to the entrance of the station. From there it will be just two stops eastwards to Marine Parade station that will link underground directly to Parkway Parade shopping centre.

In the other direction, Katong Park station is 4 steps to the Marina Bay Financial District, and 5 stops to Shenton Way. That is a roughly 10 to 15 minute train ride from One Meyer, which makes it very convenient indeed, for residents working in the Central Business District.

The other thing that is so attractive about the One Meyer condo, is that it faces Katong Park. This park has been around for ages, and will likely stay for ages more, as it has been zoned as the neighbourhood green. That being so, units facing it will get unblocked greenery views. Even better, the high floor units facing this way will also get unblocked sea views, as there isn’t any land zoned for buildings between One Meyer and East Coast Park and Beach.

So if you are interested, do sign up to drop by the One Meyer showflat as soon it opens its doors. We will send you the site and floor plans and keep you posted on the showflat opening schedules. Sustained Land specialises in such boutique developments, so they are experienced developers in this type of development.

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