Even the EC’s name is fancy as can be.
LocationAnchorvale Crescent EC site near Sengkang MRT
The positioning of Ola would be right next to the previously sold outside Vales EC. For upgraders who have been remaining Punggol and Sengkang area, this EC would be perfect since it’s 7 minutes walking to Sengkang MRT. It is also within 1 kilometer into Nan Chiau Primary School.
OLA EC Pool
Ola is directly across the road from Sengkang Community Hospital and Sengkang General Hospital.
Sengkang Sports Centre is about 10 mins walk or 2 bus rides away from Ola.
Home-seekers who are looking for some greenery around their place of residence would be happy to know the Sengkang Riverside Park is only beside the sports center.
Sengkang MRT station is a short walk off if one cuts through Compassvale North Gate of blocks 261 and 260.
Ola will be starting in Jan 2020.
Ola EC pricing
The prices for Ola EC at Anchorvale Crescent / Sengkang is anticipated to be
4 bedrooms out of 1.38m onwards
5 bedrooms out of 1.5m onwards
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Ola is a 99-year leasehold public/private home hybrid vehicle.
If you are not aware, ECs can’t be sold to anybody inside the first 5 years. At the 5 year mark, it could be sold to Singaporeans. At the 10 year mark, it accomplishes private condominium status and can then be sold to anyone from the open market.
The transformation from public to private housing is one great advantage of this EC strength class.
For potential buyers who have children about to visit the main school, Nan Chiau is within 1 km away, providing you with priority along with other parents who don’t stay within the 1 km zone.
Nan Chiau primary is considered one of the best primary schools in the Sengkang/Punggol area.
Nearby shopping malls include Compass One at Sengkang MRT and Waterway Point at Punggol MRT.
The waterway stage is a short bus ride of approximately 5-10 mins away.
Present EC price trends
1 recent EC that launched is Piermont Grand in Sumang Walk.
This EC is located in the western end of Punggol, directly beside Waterway @ Punggol.
Piermont Grand includes a mix of 3, 4 and 5 bedroom units.
Regrettably, no 2 bedroom units since most buyers of ECs are owner-occupiers and not investors.
Prices for 3 bedroom compact units at Piermont Grand begins from S$888k. At the more expensive range, there are 3 bedroom premium units going for S$1.382m.
Four bedroom units start from S$1.34m with the greater end priced in S$1.405m.
Five bedroom units start out from S$1.508m with the highest, a 5 bedroom premium unit, going for about S$1.808m.
The prices for Ola are in the approximate selection or just a bit higher given its closer proximity to Sengkang MRT station, which is subsequently closer to the city center.
Check the OLA EC Current Pricing from the link below,
How do I purchase a unit in Ola?
There are a few main things which you need to be aware of if you’re interested in buying a unit in Ola.
It would be perfect to acquire an in-principle acceptance from a banker to find out the maximum loan amount you may take. From that point, you’ll figure out the range of pricing you can afford.
Because bankers can sometimes take quite a while to return with information, there are numerous online calculators for you to DIY and find out what you can afford.
One example of this output of such a calculator is as follows.
Input your monthly income, other expenses, and income, along with your age, and you would find an estimation of the loan amount you are qualified for.
Lodge an e-application. The programmer will need all prospective buyers to file an e-application with their details. The e-application will require details such as income, marital status and other personal particulars.
This manual would be handy if you want a blow-by-blow account of this process of purchasing an EC.
There are a few schemes by HDB below which candidates are able to apply for a unit at Ola.
These schemes would be the public scheme, fiance/fiancee scheme, orphans scheme and joint singles strategy.
Significantly, you and all other applicants for a unit can’t have a combined income of over S$14,000.
Any household incomes above this level would ask that you consider buying in the private property market which is made up of non-landed condominiums, apartments and acquired properties