Westwood Residences EC

Westwood EC Singapore . Executive Condominium . Private Residential Estate

Westwood Residences is an upcoming Executive Condominium that will be launching for sale in May 2015. This Westwood EC site is an extremely rare one – the only EC nestled in a private residential estate, overlooking landed property, unblocked on 3 sides, and with a Velodrome.

Westwood Residences EC at Westwood AvenueWestwood Residences Singapore . Westwood EC built on a cycling theme with mini Velodrome

Westwood Residences EC is located along Westwood Avenue in Jurong West, and close to the Nanyang Technological University & Cleantech Park. It is bounded by landed terrace houses on its north, The Woods cluster housing on its east, and The Floravale private condominium on its south.

The drawback to this Westwood EC site is the Pan Island Expressway (PIE) on its west. But if you are quick to register, and book your unit early during the VIP Preview, you will likely be able to pick an east-facing unit that overlooks the landed houses or The Woods cluster houses.

The Woods facing Westwood Residences ECThe Woods Cluster Housing @ Westwood Avenue opposite Westwood Residences EC

This gets you an unblocked view over the quiet low-rise private residential estate, especially of the lovely Woods cluster houses.

Register here to get a copy of the Westwood Residences Floor Plans Brochure, Pricing and Latest Updates as soon as available.

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Westwood Residences Location in Jurong MasterplanWestwood EC Singapore . Location in relation to Jurong Regional Masterplan :: CLICK TO ENLARGE

Westwood Residences . Westwood EC Amenities

  1. This EC sits in a nice residential neighbourhood that has its own small shopping centre. Gek Poh Shopping Centre is within walking distance, about 600m away.
  2. The Jurong West Sports Center, with its Sports Hall & Stadium, is about 2.3km down the road.
  3. As the crow flies, Westwood Residences is 1.55km to Pioneer MRT, and 1.8km to Boon Lay MRT, on th East-West Line. By road, about 2.4km and 2.6km respectively.
  4. Around 20 mins driving time off-peak to the Marina Bay / Shenton Way CBD or Orchard Road, via either the Ayer Rajah Expressway (AYE) or Pan Island Expressway (PIE).

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Westwood CondoWestwood Residences Showflat is at Westwood Avenue

Economics of Westwood Residences EC

  1. 15 to 20% (ie. around $200K to $300K) cheaper than similar new private condominiums.
  2. First time buyers are eligible for up to $30,000 CPF housing grant.
  3. You do not pay any agent’s fee or commission (unlike for HDB resale flats).
  4. Historically of all residential property types, executive condos have achieved the most capital appreciation. Not only do they move in tandem with the general appreciation in the overall market, but they also enjoy greater gain as they close the gap with prices of private condominiums from the 5th year onwards.
  5. The Jurong Lake District, 3 MRT stops from this Westwood EC, is slated for a transformation into a major commercial & leisure centre under the URA Master Plan. See the URA webpage (opens in a new window). The new KL-Singapore rail line is also expected to terminate in this location. Taken together, there is compelling potential for capital growth for the Jurong area.

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For other details, see the Fact Sheet or location information.

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WESTWOOD RESIDENCES EC · SHOWFLAT VIEWING · E-APPLICATION

If you would like to be kept posted on all updates or showflat viewing, please email us here.

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OTHER LAUNCHES FOR SALE

Park Place Residences by Lendlease & Abu Dhabi Investment Authority . 429 units of private apartments for sale beside Paya Lebar MRT station . See Park Place Showflat for viewing & other launch details . Launch will likely be around November 2016

The Artra Mixed Development by Tang Skyline Pte Ltd . Private condominium with commercial units at ground level . Register for Artra Condo floor plan and other details . Developer will launch 1st half 2017

Queen Peak condominium on the city fringe at Alexandra . 736 units of private apartments for sale next to Queenstown MRT station . See Queens Peak floor plan for details . VIP Preview & Balloting November 2016

Granduer Park condominium between The Glades & eCO @ Bedok . 720 residential units for sale in a landed housing enclave . See Grandeur Park floor plan or call us for details . VIP Preview & Balloting tentatively 1st Quarter 2017

Westwood Residences Showflat

Westwood Residences Showflat . Image Gallery

Artists’ impressions of what the Westwood Residences showflat and facilities will look like.

WESTWOOD RESIDENCES FACILITIES

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WESTWOOD RESIDENCES SHOWFLAT . ARTIST’S IMPRESSIONS

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WESTWOOD RESIDENCES EC CYCLING FACILITIES

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For more information, see the Floor Plans or overview of the Westwood Residences.

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WESTWOOD RESIDENCES SHOWFLAT GALLERY . E-APPLICATION

Would you like to arrange a Showflat Viewing? Just contact us here and we will keep you updated on viewing dates.

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You want to  Request Brochure / Floor Plans
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120 units sold on first day of launch at Westwood EC

Prices at Westwood EC start from about S$620,000

Source: Channel News Asia

SINGAPORE: KBD Westwood Pte Ltd, the developers for the latest EC (executive condominium) project on the market sold about 1/4 of the 480 units on the first day of launch.

Westwood EC Singapore . Main Entrance Drop Off

As at 7pm on Saturday (30 May 2015), buyers snapped up about 120 units at Westwood Residences EC, in Jurong West.

The project opened for sale on Saturday morning, after developers received around 500 e-applications to book units, over the last two weeks.

Pricing at this Westwood EC project ranges from around S$620,000 for a 2 bedroom unit, to around S$1.1 million for a 5 bedroom unit.

KBD Westwood said that this works out to around S$783 per square foot for the units – slightly lower than the indicative price of S$800 per square foot given earlier, and well below the average $857 PSF pricing for Lake Life EC in Jurong.

Westwood Residences is the first Executive Condominium to be affected by changes to HDB’s resale levy rules. The resale levy now applies to EC buyers who had previously bought HDB BTO flats or resale HDB flats with a CPF Housing Grant, or new ECs.

With the exception of Lake Life – which sold almost 98 per cent or 546 of its units – sales for other recent EC projects has not moved as fast.

As of last month, 4 EC projects launched since November last year have more than 200 unsold units each, according to URA’s numbers. These include Bellewoods, Bellewaters, The Amore, and The Terrace.

Click here for the original CNA report (opens in new window).

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WESTWOOD EC . SHOWFLAT VIEWING . E-APPLICATION

Would you like to arrange a Showflat Viewing? Please contact us here.

(Fields marked with * need to be filled in. We respect your privacy and will not spam you.)

Name *
Email *
Phone *
Application Status *
You want to  Request Brochure / Floor Plans
 View showflat
 Register e-Application
 Get More Information
 Keep you posted on other new launches as well
After clicking, please see below for status


Westwood Residences EC | Buying Guide

Westwood Residences EC . FAQ (Frequently Asked Questions)

When is the Westwood Residences EC open for booking?

TARGET PREVIEW DATES (Subject to Change)
Showflat Viewing: 15 – 24 May 2015
E-Application: 15 – 24 May 2015
Release of Price List: 27 May 2015
Balloting & Booking: 30 May 2015

If you would like to register for the showflat viewing, or do the e-application to register interest, just drop your contact details here.

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What must I do to book a unit?

You must fill in an application form and attach the necessary documents. If you drop us your contact details here, we will help you check your eligibility and arrange for your application.

Note: Application cannot be done via HDB website.

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Am I eligible to buy Westwood Residences 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 $14,000.
. 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 short answer; for detailed criteria including what defines a family nucleus, see Westwood Residences EC Eligibility.

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Can I buy Westwood Residences 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.
. If your resale flat was bought without a grant, you must fulfil your MOP before this Westwood EC gets TOP.

You must also sell off your current HDB flat within 6 months of TOP of this Westwood EC.

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When can I sell or rent out my Westwood 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 benefits do Westwood Residences EC 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 (70% of the units are reserved for 1st timers in first month).

See details on the amount of CPF Housing Grant, and eligibility here (opens new window).

2nd Timer Buyers
. Buyers with existing housing loan may still get up to 80% loan (unlike for private condos).

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What’s the payment schedule like for Westwood Residences EC?

If you opt for Normal Payment Scheme (NPS):

  • 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 you opt for Deferred Payment Scheme (DPS) (purchase price is around 2 to 3% higher):

  • First 5% cash (via a cheque) at time of booking the unit.
  • Next 15% within 9 weeks (typically) of booking the unit. This 15% may be from CPF Housing Grant, or from CPF funds, or from cash.
  • Neither you nor the bank (if you are taking a loan) pays anything till the project completes. At that point, upon TOP, you / your bank will need to pay another 65% of the purchase price. Your mortgage repayments therefore start at this point, based on whatever the bank disburses.

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Do I have to pay any admin charges or commissions or agent fees?

No, no charge at all. We are here to provide you all the information, and help you book your unit of choice at directly from the developer, at no charge. No obligation either.

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WESTWOOD RESIDENCES EC . E-APPLICATION . SHOWFLAT VIEWING

For queries on any of the above, or to register interest in updates, please email us here.

(Fields marked with * need to be filled in. We respect your privacy and will not spam you.)

Name *
Email *
Phone *
Application Status *
You want to  Request Brochure / Floor Plans
 View showflat
 Register e-Application
 Get More Information
 Keep you posted on other new launches as well
After clicking, please see below for status


Eligibility for Westwood EC Launch

HDB Eligibility Guide for this Westwood EC Launch . Singapore

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As Westwood Residences is an executive condominium, you must meet HDB’s eligibility criteria to book a unit at this Westwood EC launch. If you need help to assess your eligibility, just send your query via the Contact Form.

Source: HDB web site (www.hdb.gov.sg)

Citizenship
  • Main applicant must be a Singapore Citizen
  • Application must include at least one other Singapore Citizen or Permanent Resident.
Age
  • All applicants must be at least 21 years old at time of application of this Westwood EC launch
  • If applying under the Joint Singles Scheme, both must be at least 35 years old
Family Nucleus

You must form a family nucleus under one of the schemes listed here:

  • Public Scheme
    You (the applicant) and;
    * Your spouse, and children (if any)
    * Your parents, and siblings (if any)
    * Your children under your legal custody (if you are widowed or divorced)
  • Fiance/Fiancee Scheme
    You (the applicant) and your fiancee/fiance
  • Orphan Scheme
    You (the applicant) and;
    * Your unmarried brothers/sisters, or
    * Another unrelated single orphan
  • Joint Singles Scheme
    You (the applicant) and another single person
Income Ceiling
  • Your total monthly household income must not exceed SGD$14,000
Special Requirement for Undischarged Bankrupts

Undischarged bankrupts must seek the Official Assignee (OA)’s consent to apply for this Westwood EC launch. However, they do not need to seek the OA’s approval to be listed as an occupier.
 

Ownership of Private Property

You, your spouse, & any occupiers in this application, and their spouses, must not own or have disposed of, or have any part or share in any other private flat, house, building or land.
* Within 30 months before the date of application, and
* Between the application date and the date of taking possession of this EC.
 

Owners/Ex-owners of HDB flats / DBSS flats / EC units

Each Singaporean household is allowed to buy the following housing types only twice:
* a flat directly from HDB;
* a resale flat with the CPF Housing Grant (only applicable to 1st timers);
* a DBSS flat from a developer;
* an EC apartment from a developer.

If you’ve already bought two such apartments, you cannot apply for, or be listed as an essential occupier in an application to buy a unit at this Westwood EC launch.
 

Definition of First-timer Applicants

You and any essential family members listed in your application for the Westwood EC launch, have NEVER:
* Bought a flat directly from HDB, or a DBSS flat or Executive Condo from developer
* Sold a flat bought directly from HDB, or DBSS flat or EC bought from developer
* Received the CPF Housing Grant for the purchase of an HDB resale flat
* Enjoyed other forms of housing subsidy (eg. SERS, privatisation of HUDC estate, etc)

70% of units will be set aside for first-timers during the initial period of this Westwood EC launch.
 

Definition of Second-timer Applicants

You or the essential family members in your application have owned/sold or are currently owners of:
* Any HDB flat that was bought from HDB, or
* Any resale flat that was bought under the CPF Housing Grant Scheme, or
* A DBSS flat or an EC bought from the developer, or
* Have enjoyed other forms of housing subsidy (eg. SERS, privatisation of HUDC estate etc.)

Second-timers buying at this Westwood EC launch are required to pay a Resale Levy. For resale levy details, see this page (opens in new window).
 

Existing Owner or Ex-Owner Of

* Flat bought directly from HDB
* DBSS flat bought from developer
* Resale flat bought under the CPF Housing Grant Scheme

If you belong to any of the above categories, you may apply to buy a unit at the Westwood EC launch on condition that a 5-year period (excluding any period of subletting of the whole flat) has lapsed from the #date of taking possession of the previous flat to date of application for the new EC.

# The date of taking possession refers to following dates:
* Date of key collection, for flats that are bought direct from HDB
* Date of resale completion, for resale flats bought from open market with CPF Housing Grant
* Date of transfer at market value of the flat bought with CPF Housing Grant
* Date of key collection for EC/DBSS flats bought from the developer
 

Ex-owners of an EC

Are you, your spouse or any of the essential occupiers listed in the application an ex-owner of an Executive Condominium bought directly from the developer? If yes, you would need to wait at least 5 years from the date of taking possession of the earlier Executive Condominium before applying for the new EC.

30-Month Period
In addition, you need to wait out a 30-month period from the effective date of disposal (i.e., date of legal completion of the sale of your Executive Condominium, evidenced by the Notice of Transfer or such other documentary evidence as HDB may require) of the EC before you can apply to buy a unit at the Westwood EC launch.
 

Essential Occupiers

Any person applying to buy at this Westwood EC launch or be listed as an occupier must not currently be listed as an essential occupier of:
* An existing HDB flat bought directly from HDB,
* A DBSS flat bought under the CPF Housing Grant Scheme, or,
* A resale flat bought under the CPF Housing Grant Scheme

However, you may be eligible if you have stayed in the existing flat for at least 5 years from the #date of taking possession of the existing flat to the date of application for a new flat.
 

Cancellation of Application After Booking a Flat

If you book a flat from the March 2012 BTO and Sale of Balance Flats exercises onwards, and subsequently cancel the flat booking, you will have to wait 1 year from the date of cancellation before you can apply or be included as an essential occupier in a Westwood EC launch application.
 

Divorcees

Within 3 years from the date of a divorce, only one party in the divorce can own one of the following housing units:

  • Flat bought directly from the HDB
  • DBSS flat / EC bought directly from a private developer
  • Resale flat bought from open market under the CPF Housing Grant Scheme

If there is an existing matrimonial home which is one of the above, and that home is retained by your ex-spouse, you may apply to buy or be listed as an essential occupier in this Westwood EC launch only 3 years after your date of divorce.

However, this 3-year wait out period will not apply if you are buying this new EC with your parents or a new spouse.

If there is no matrimonial home or the matrimonial home was bought from the open market without any CPF Housing Grant, you may apply for the Westwood EC launch after you obtain your ex-spouse’s consent not to own or be listed as an essential occupier in any of the above housing types within the 3-year period from the date of divorce.

The requirement for ex-spouse’s consent is waived if you are buying the EC with your parents or a new spouse or if you are buying a resale flat from the open market without the CPF Housing Grant.

The requirement to seek ex-spouse’s consent during the 3-year period from the date of divorce is also waived if you meet the following conditions:

  • All your children are below 18 years old at the date of divorce; and
  • You have the legal custody of all your children and are also the only parent with the care and control of all your children

 

Person Who Has Bought an EC/DBSS Flat with CPF Housing Grant

A person who bought an EC or DBSS flat with CPF Housing Grant but terminated the Sale & Purchase Agreement may apply to buy a unit at this Westwood EC launch.

However, this is allowed on the condition that a 5-year period has lapsed from the termination date of the Sale & Purchase Agreement of their earlier EC or DBSS flat purchase, to the date of application for this new EC.

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Source: HDB