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| General Discussions Say your hello's and discuss anything under the sun |
Topic Review (Newest First)
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| 27-04-2019 10:20 PM | |
| carrotcake |
The Terrace The Terrace EC is an Executive Condominium located near the junction of Edgedale Plains and Punggol Drive. The Terrace EC may sometimes be referred to as Punggol EC. An Executive Condominum is essentially a hybrid between a private property and a HDB flat. Started in 1996, Singapore Government introduced ECs or Executive Condominium Projects to encourage private property ownership for Singaporean families. Executive Condominium projects serves as a point of conversion for HDB owners to become private property owners. The Executive Condominium program have since continued to 2004 and stopped for few years before the next wave making a come back in 2010. No EC units have been transacted as unprofitable under normal resale conditions till date. Existing executive condo launches include Rivercove EC, Parc Life EC, Northwave EC, Hundred Palms Residences, Inz Residence and upcoming ones include Piermont Grand and Tampines EC. Piermont Grand EC details and Piermont Grand floor plans will be available soon. The Terrace was officially launched in December 2014 and is Singapore's 52nd Executive Condominium and the 14th EC in District 19. Executive Condominium Projects in District 19 are The Florida, The Rivervale, Park Green, Esparina Residences, Prive, Austiville Residences, Riverparc Residences, Waterbay, Twin Waterfalls, Heron Bay, Ecopolitan, Waterwoods, Bellewaters, The Terrace and The Amore. The purchase of a unit at The Terrace EC comes with ownership and resale restrictions like income ceiling as well as Minimium Occupation Period of 5 years. HDB Policies changes as and when according to market sentiments, The Terrace is the last batch of ECs not affected by Resale Levy being imposed on 2nd Timer which can amount to $55,000 depending on the type of your first subsidied flat direct from HDB. In additional, certain CPF housing grants are available for grabs for 1st Timer - those who have not enjoyed any housing subsidy from HDB before. Sales of units are to be deal direct with the developer like a private property and subjected to HDB approval in the process. The Terrace is a Executive Condominium Project that is truly suitable for people who are family orientated. The facilities within are very well designed and situated in the different tiers of terrace or layers. The Terrace EC facilities can be categorised by three main components namely the Active Tier, The Leisure Tier and The Tranquil Tier. Read on for the different kinds of entertainment you can have at each tier of The Terrace EC. |
