The executive condominium is a popular choice in Singapore, mainly because it gives you condominium facilities at a subsidised price! A recent study by OrangeTee showed that a new EC unit typically sold at a 20% discount compared to a new comparable private condominium.
What’s more, you may be eligible for CPF Housing Grants which will help you offset the price further.
But for some Singaporeans, an EC might still seem to be beyond their budget. But one EC is arguably Singapore’s most affordable – Sol Acres, with 1-bedroom units going from $370,000.
Why is the Sol Acres 1-bedroom unit so affordable?
Sol Acres is Singapore’s biggest Executive Condominium, and is also the only development to offer 1-bedroom units. The 1-bedroom units come with a fully-equipped kitchen, fully-fitted bathroom, air-conditioning and wardrobe.
And if you are not sure where to start your renovation, you can opt for their ID package, at a heavily subsidised price. Among other things, it includes curtains, cabinets, lightings, table lamps, a sofa and even a queen-sized bed frame that can effectively act as extra storage space!
But how big can a 1-bedroom apartment be?
At 495 square feet, the Sol Acres 1-bedroom unit is fuss-free and easy to manage, and the compact layout means that there’s no wasted space. Cleaning should be a breeze and let’s be honest here – you’ll probably be out of the house enjoying the many facilities Sol Acres offers.
If you’re the sort of person who likes entertaining guests, there are 3 clubhouses and 4 BBQ pavilions. With 2 tennis courts, gym, outdoor fitness stations, multiple pools for exercise or relaxation, there really is no end to the facilities available to Sol Acres residents. There’s even a gourmet chef terrace if you want to feast like royalty. Again, as the biggest EC in Singapore currently, the amenities have to cater to everyone, so there’s definitely something for you.
What’s more, all you need to pay are monthly maintenance fees of approximately $180* to enjoy the full slew of facilities.
*Subject to authorities’ approval
So how much is a Sol Acres 1-bedroom unit going to cost me?
Officially, prices start from $370,000.
But remember, this is an Executive Condominium, which means you may also be eligible for CPF Housing Grants.
Let’s look at an illustration – Lois and Clark, both Singapore Citizens, are keen on buying a 1-bedroom unit in Sol Acres. They have a combined income of $4,500. This entitles them to a $30,000 CPF Housing Grant when they buy the 1-bedroom unit.
That saves them almost 10% of the cost of the EC unit! That is a significant amount off an already affordable price.
Sol Acres is located at Choa Chu Kang Grove, and right next to 2 LRT stations linking to the North South and Downtown lines. It is just 15 minutes’ drive to Jurong Lake District, Singapore’s 2nd CBD. Besides a host of shopping malls and offices, Jurong Lake District will also be the terminus for the future Singapore-KL high speed rail. And the best part is, the expected TOP of Sol Acres is Q1 2018. That means you could be moving into your new home next year.
Still don’t believe us? Register for a visit to the Sol Acres showflat to see just how versatile the space is.
This article is brought to you in collaboration with Sol Acres.