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More than 500 e-applications received for Signature at Yishun

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More than 500 e-applications received for Signature at Yishun

The application for Signature at Yishun Executive Condominium has closed. A total of 507 e-applications were received for the 525-unit project located along Yishun Street 51/Yishun Avenue 1.

According to the developer there is a fair mix of first-time buyers as well as upgrading families among the applicants. The Signature at Yishun is the first EC project to be launched after the income ceiling for EC buyers was raised from 12,000 to $14,000. It also noted that there are close to 20% of its applicants with combined household income of above $12,000.

The developer, JBE Holdings, will unveil the unit prices this Thursday Sept 24, 2 days before the booking day Saturday Sept 26. 

By Michael Lim / The Edge Property, JBE Holdings Pte Ltd | September 23, 2015 5:55 PM MYT

CDL, JBE in battle for EC buyers in Yishun (Amended)

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CDL to start accepting e-applications for The Criterion, and JBE Holdings is to unveil prices for Signature

THE long-awaited contest for buyers between two adjacent executive condominium projects in Yishun St 51 is set to take place.

Listed property heavyweight City Developments starts accepting e-applications for The Criterion from Thursday, the same day JBE Holdings unveils prices for Signature at Yishun.

JBE will begin booking sales on Saturday.

The developers bought their respective sites at state tenders that closed on the same day – May 22, 2014. CDL paid S$330 per square foot per plot ratio (psf ppr) for its site, slightly below the S$335 psf ppr paid by JBE for its land parcel.

JBE is widely expected to price its project at S$750 psf on average or slightly lower. It has yet to officially give its pricing, but has been using the pitch that the development will have “the most affordable average launch price for ECs in 2015”.

CDL is not expected to engage in a direct price competition; it has positioned its project as a “luxury EC with first-of-its-kind features and premier quality – at attractive pricing”.

A veteran property consultant said: “CDL may price its project at a slight premium to JBE’s development to reflect a higher quality of finishes and amenities.”

That said, the EC segment is still quite price-sensitive.

ECs are a public-private housing hybrid, with initial buyer eligibility and resale restrictions that are completely lifted 10 years after the EC project has been completed.

Said the property consultant: “The recent increase in the monthly household income ceiling for buyers of new EC units to S$14,000 from S$12,000 will not lead to people turning up in droves to buy ECs.

“Buyers in the upper end of this income bracket have the option of picking up a mass-market condo unit, which is not subjected to the conditions and restrictions that ECs are subjected to.”

Another consultant, R’ST Research director Ong Kah Seng, also expects CDL’s pricing to either match or slightly exceed that of JBE’s Signature at Yishun.

If JBE launches its project at S$750 psf on average, it will be the lowest among EC projects now on sale in the market; those now in the market are hovering around S$770 to S$800 psf on average, Mr Ong noted.

CDL did not give any pricing information for The Criterion. “Homebuyers can look forward to an attractively-priced project by a trusted developer with a strong track record,” said its group general manager, Chia Ngiang Hong.

The Criterion EC, overlooking the Lower Seletar Reservoir and Orchid Country Club, comprises 505 units in 10 13-storey blocks. CDL is developing the 99-year leasehold project jointly with TID.

A good mix of apartment types is available for selection with sizes ranging from 700 sq ft for a two-bedroom apartment to 1,636 sq ft for a penthouse.

E-applications will be accepted between Sept 24 and Oct 4; sales bookings will start on Oct 10.

Some units in the development will have options for customisation, with flexible layout and configuration. The four-bedroom premium units will come with a luxurious wardrobe and ensuite bathrooms.

All units will have an air-conditioning system that purifies air through nano technology. The project will boast 58 facilities, including a solar charging station for electric bicycles and a microbubble spa.

Correction: An earlier version of this article incorrectly stated that CDL did give any price information for The Criterion when in fact it did not give any price indication for the project.

The article above has been revised to reflect this

THE BUSINESS TIMES23 Sep 2015

Visitors throng show-flat of Signature at Yishun executive condominium

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Visitors throng show-flat of Signature at Yishun executive condominium

SINGAPORE – Buyers on Friday (Sept 11) thronged the show-flat of Signature at Yishun – touted by the developer as the most affordable executive condominium project this year.

The sales gallery saw about 800 visitors on the opening day of e-applications despite it being Polling Day for the 2015 General Election, noted developer JBE Holdings.

Its chief executive, Mr Patrick Lam, said some 100 applications had been received by the end of the day.

Applications will remain open until Sept 20.

The developer will release its prices on Sept 24 – two days before booking day when successful online applicants can buy their preferred unit.

“It was encouraging to see a big crowd on the opening day of our e-applications today despite it also being Polling Day,” said Mr Lam. “We do understand that most homebuyers have to cast their votes today and might also be distracted by the developments of the elections, and, as such, may not be in a normal frame of mind for house hunting.”

He noted that viewing at the sales gallery got off to a slow start. It was then followed by a relatively sharper spike in visitors in the afternoon. But the crowd tapered off sharply near dinner time, suggesting that buyers were leaving to monitor the election results, he added.

The development is the first exec condo project to be launched after the recent increase in the income ceiling from $12,000 to $14,000.

Signature at Yishun is a 525-unit project in Yishun Street 51, with “easy access to the Orchid Country Club and Lower Seletar Reservoir”.

It is next door to an as-yet-unlaunched exec condo being built by City Developments.

JBE’s exec condo will have two- , three- and four-bedders ranging in size from 764 sq ft to 1,302 sq ft.

It will have a 50m lap pool, a yoga deck, foot reflexology walk and urban farming lawn among other facilities on offer.

Signature at Yishun is the third exec condo project after SkyPark Residences and The Amore for JBE Holdings.

New units at exec condos sold last year were priced at an average of $800 per square foot.

Property watchers reckoned Signature at Yishun will match or better this.

THE STRAITS TIMES PUBLISHED SEP 11, 2015, 7:08 PM SG

Signature at Yishun pitches on affordability

Clubhouse AISignature at Yishun pitches on affordability

Developer JBE Holdings said its Signature at Yishun executive condominium (EC) will be the “most affordable in 2015”.

The firm will release its prices on Sept 24 – two days before booking day when successful online applicants can buy their preferred unit.

The development is also the first EC project to be launched after the recent increase in the income ceiling from $12,000 to $14,000.
Signature at Yishun, in Yishun Street 51 with “easy access to the Orchid Country Club and Lower Seletar Reservoir”, will start accepting online applications next Friday.

The 525-unit project is next door to an as-yet-unlaunched EC being built by City Developments (CDL).

JBE’s EC will have two-, three- and four-bedders ranging in size from 764 sq ft to 1,302 sq ft.

It will have a 50m lap pool, a yoga deck, foot reflexology walk and urban farming lawn among other facilities on offer.

JBE Holdings chief executive Patrick Lam said yesterday: “In line with SG50 … we intend to price Signature at Yishun to be the most affordable EC in 2015 along with Singapore’s home-ownership vision of making housing affordable and with ever-increasing quality.”

Signature at Yishun, which is in Yishun Street 51, will start accepting online applications next Friday.

BUSINESS TIMES PUBLISHED SEP 4, 2015, 5:00 AM SGT