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East's newest EC to open soon
Nov 25, 2022
By   Internet
  • City News
  • EC
  • new EC
  • real estate transactions
Abstract: Combining both owner-occupied and investment values, Tenet Kinglake, a new executive condominium (EC) project in Tampines North, officially debuted on November 12.

In the current hot housing market, Tenet is the grand finale of EC 2022 and has received over 5,000 visitors in its first weekend of launch.


As we all know, EC is a special housing benefit provided by the Singapore government for its citizens, which can meet the needs of Singapore citizens to purchase private homes and enhance their living conditions at a lower price.


EC has always been a hot investment spot for many local Singapore citizens and new immigrants.


EC does not require the payment of additional buyer's stamp duty and first-time buyers can receive a government subsidy of up to S$30,000. The government also specifically allows EC buyers to opt for a deferred payment plan, which allows buyers to defer bank loan repayments until the project is completed to ease the pressure on their mortgage.


ECs can enter the market for resale to Singapore citizens and permanent residents after 5 years of owner-occupation, and are fully converted to private condominiums after 10 years.


Data shows that the median resale price of these private EC projects has increased by at least 80% from the opening price, and some have even increased in value by over 200% at the time of resale; all EC projects with a TOP of 5 years or more have gained in value so far. 


Tenet View Lakeview is the eighth EC project developed by Ching Kin Properties and has won the "Best EC Project Award" in Singapore for 2022.


The public can now visit the showroom by appointment, and eligible buyers can apply online, and this week will be the last opportunity to apply before the opening (closing on November 28), so don't miss out.


Tenet Jingli Xuan is located in the mature community of Tampines, specifically at 62 Tampines Street, Tampines North, which is also one of the three new townships and residential areas announced by the government in 2013.


1) Convenient transportation with a planned cross-island line MRT station around the project


Tampines North is a 3-5 minute walk from the Tampines North station on the Trans-Island Line, which is expected to open in 2030.


The project is conveniently located 3 minutes away from Tampines Expressway (TPE), 10 minutes away from Pan Island Expressway (PIE) and 12 minutes away from Changi Airport.


2) Abundant amenities and shopping malls in the vicinity


Tenet is close to two established communities, Tampines and Pasir Ris, and is surrounded by many shopping malls, including Tampines Mall, Century Square, IKEA, Giant Supermarket and many more.


At the same time, the government will also launch a large integrated commercial and residential project next to Tenet in 2023, which will meet the daily shopping needs of the residents in Tampines North.


3) Rich Education Resources


There are many schools around Tenet, from elementary school to international schools to polytechnics to universities, including the famous St. Hilda's Primary School, UWCSEA United World College of Southeast Asia, Temasek Polytechnic, Singapore University of Technology and Design, etc.


4) Ecological parks and recreational facilities


The new ecological park in the north of Tampines provides residents with a good place to go for leisure and sports nearby; the Pasir Ris Park located not far to the north can catch the sea, horseback riding, bird watching, hiking ...... The nearby Pasir Ris Total Entertainment World and Wild Wild Wet Water Park provide multiple options for family recreation.


It is also surrounded by Our Tampines Hub, Singapore's largest community and leisure complex, which houses a variety of facilities including sports facilities, a library, a people's liaison office, a cooked food center and retail stores.


5) Proximity to employment opportunities


The location of Tenet is in a golden triangle with Punggol Cyber Park, Paya Lebar New Town and Changi Business District. The future construction of Changi Terminal 5 and the development of the Aviation Park will bring more employment opportunities in the vicinity and attract more talents to settle in the area.


6) Great potential for future development


Paya Lebar Airbase is located close to the Tampines area and the government has planned to relocate the base to Changi East in 2030, where it will be transformed into a new generation township with housing, work and living options for the community, as well as a network of parks, natural corridors and waterways. It will become a large modern community for living, working, studying and playing, and will increase the value of the entire area.

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