7 like-new executive condos that will MOP in 2022

With home prices at record highs, resale condos are back in the spotlight. None more so than newly Minimum Occupancy Period (MOP)-ed Executive Condominiums (ECs), which are at least halfway to full privatisation.

There are a couple of things to note, however:

An EC is regarded as a private property once it achieves its five-year MOP, so buyers purchasing it subsequently will be based on Total debt servicing ratio (TDSR) and not Mortgage servicing ratio (MSR) guidelines. (But if an EC is sold within the five-year MOP, the potential buyer will have to achieve the same criteria of a buyer as if buying a brand new EC).

Do remember the perk of no upfront Additional Buyer's Stamp Duty (ABSD) for upgraders is only applicable for those buying a new EC.

Nevertheless, here are the ECs becoming available this year in 2022:

Note: All ECs are on 99-year leases, and all the following would have been completed around 2017, as there is a five-year MOP starting from the time of key collection. 

Past transactions are not indicated, as any transactions before the MOP would have been special cases (e.g., HDB granted permission for the sale due to factors like divorce). These transactions are few, and cannot be taken to reflect actual prices when the EC becomes available. 

Update May 4, 2022: Cheng Lim LRT is one stop from Sengkang MRT.

1. The Terrace

Location: 88 Edgedale Plains (District 19)

Developer: Peak Square Pte. Ltd.

Number of units: 747

Notable highlights:

As far as most ECs are concerned, The Terrace falls under the bucket of those that aren't within walkable distance to an MRT station. Though even though there's no MRT station nearby, the Kadaloor LRT is located just outside the estate; and from here it's only three stops to Punggol MRT.

Waterway Point, the retail hub of the neighbourhood, is also at the Punggol MRT station; so overall you have good access to amenities. But if you need a closer alternative, Oasis Terraces is about a six-minute walk. This is a joint development by HDB and the Ministry of Health - it has a Guardian, NTUC FairPrice, food court, and 24-hour fitness centre. 

Waterway Primary is also just a bit further down than the LRT, at about six minutes walk. There is another school, Horizon Primary, that's further away but still within walking distance; it's about 400 metres, or close to nine minutes on foot. 

The area is quite built up with a lot of HDB blocks nearby, but the highlight has to be the main pool (there are two large ones) fronting My Waterway @ Punggol. The waterway views are quite a sight to see, and you have easy walkable access from here to Punggol Waterway Park itself.

Do note that the current empty plot of land right outside won't be unblocked for long as it is zoned under health and medical care use under the URA master plan.

2. The Brownstone

Location: 160 Canberra Drive (District 27)

Developer: Canvey Developments Pte. Ltd.

Number of units: 638

Notable highlights:

The Brownstone is one of the rare ECs that has walking access to an MRT station. There's a side gate at the corner of the development, which would be a very short three-minute walk to Canberra MRT, across from which you'll also find Canberra Plaza. There's an NTUC FairPrice here, along with Guardian and a food court. The best part? It's sheltered access all the way to the station.

Bukit Canberra, the area's major lifestyle and community hub, will be about a ten-minute or so walk (from the entrance of the development at least). From there, you can also get to Sun Plaza quite easily, which offers an alternative to Canberra Plaza.

Just across from The Brownstone is Jalan Sendudok Park, which is good for family picnics, walks, and cyclists. Some stacks overlook the greenery of this area. 

While a good family condo, the more investment-minded may be wary of the proximity of The Visionaire, Parc Canberra, and Provence Residence (both are ECs) nearby; these provide close alternatives to The Brownstone. The area is certainly shaping up to be a viable destination in the future for many upgraders, with the upcoming The Commodore, and The Watergardens @ Canberra.

3. Westwood Residences

Location: 180 Westwood Avenue (District 22)

Developer: KBD Westwood Pte. Ltd.

Number of units: 480

Notable highlights:

Westwood Residences isn't too accessible by public transport right now - but for those who can wait, the upcoming Gek Poh MRT station may fix that. Unfortunately, you can't cut through The Floravale, It's a bit of a longer walk from this project (close to ten minutes), but it does provide access to the Jurong Line. 

This condo is, unusually, a bicycling-themed development; and it includes a Bicycle Moto Cross (BMX) Adventure Park complete with bike mounds and tracks. 

On that note, you may want to start biking if you live here because several amenities are a bit far to walk, but okay on a bike. For example, Jurong Point is about a 25-minute walk away but just seven-minutes on a bike.

For something closer, Gek Poh Shopping Centre is about a nine-minute walk away. You'll find a food court here, as well as some small retail options (notably, a McDonald's is here). There is a daily shuttle bus service to Gek Poh and Jurong Point though, so it's really quite convenient.

Do bear in mind that Gek Poh MRT is only due in 2026, so in the meantime, you'll have to use the bus or PHVs if you don't drive. 

4. Bellewaters

Location: 11 Anchorvale Crescent (District 19)

Developer: Qingjian Realty (Anchorvale) Pte. Ltd.

Number of units: 651

Notable highlights:

This condo is just four minutes away from The Vales (see below).

Like most ECs, Bellewaters isn't close to an MRT station; but you can take a roughly five-minute walk to Farmway LRT (cutting through Anchorvale Cove HDB), which connects to Sengkang MRT station in about three stops. This is probably where you'll find most of your day-to-day amenities since Sengkang MRT is next to Compass One (the mall also includes the community library). 

You don't need to go all the way to the mall if all you want is a supermarket though; there's a Sheng Siong at Block 338 Anchorvale Crescent, which is just right next door. 

This condo is about a five-minute walk from the nearest entrance to Sengkang Riverside Park, which is home to a constructed riverine wetland. Those who love bicycling and the outdoors will probably appreciate this. There are fruit trees around, a playground, as well as food options if you cross over the bridge.

You are also close to the Sengkang Sports Centre, where you have swimming pools and slides, a McDonald's, a gym, indoor courts, and a table tennis room (yes, one is not like the others).

Sengkang isn't the most developed or exciting neighbourhood right now; but this condo can mitigate some of those shortcomings, with the LRT access and a quick ride to Compass One. 

5. Signature at Yishun

Location: 29 Yishun Street 51 (District 27)

Developer: Gee-I Investments Pte. Ltd.

Number of units: 525

Notable highlights:

This is an EC for those who drive or use PHVs, as it's not too accessible. Like most ECs, there's no MRT within walking distance; and the closest bus stops have limited services (117, 804, and 805). 

The presence of The Wisteria nearby provides some convenience, however. This mixed-use development has a commercial element, which includes a FairPrice Finest; and there's also a food court here, along with your usual suspects like Coffee Bean and a KFC. It's a bit of a walk at around ten minutes, but most residents will find it manageable.

Further away, Northpoint Shopping Centre provides a more major retail amenity; this is just around a six-minute drive, under good traffic conditions. Members of Orchid Country Club may also like this condo, which is a roughly similar driving distance away.

One notable detail is the unit sizes, which are generous for an EC. The two bedders are upward of 740 sq. ft., while the 4-bedders are upward of 1,300 sq. ft. These are larger than the units in its neighbouring development, The Criterion.

6. The Vales

Location: 79 Anchorvale Crescent (District 19)

Developer: Anchorvale Residences Pte. Ltd.

Number of units: 517

Notable highlights:

The Vales is just four minutes away from Bellewaters (see above). 

The Vales has access to the same LRT loop as Bellewaters, but it is closer to its LRT station. It's only about a four-minute walk to Cheng Lim LRT, which is one stop from Sengkang MRT station. Going to the MRT station also takes you to Compass One, which is the biggest mall in the vicinity. You can also walk there, in about ten minutes which is not too bad all things considering.

Sengkang Sculpture Park is also a closeby walk for kids to play, but we'd prefer Sengkang Riverside Park for its better ambience although it is a further walk away.

One of the issues with The Vales, however, is the proximity to Sengkang General Hospital. It's around five minutes walk away - and while we don't feel there are significant traffic or noise pollution issues, we know some buyers swear off living near hospitals (for taboos if no other reason). 

But if you don't mind the hospital, the shorter distance to the LRT makes The Vales a bit more convenient than Bellewaters in terms of overall accessibility.

You should note that Ola EC across the road is still under construction at this point in time, and the entire plot behind the Vales is zoned under education in the URA masterplan.

7. Bellewoods

Location: 100 Woodlands Avenue 5 (District 25)

Developer: Qingjian Realty (Woodlands) Pte. Ltd.

Number of units: 561

Notable highlights:

To be blunt, Bellewoods is in an ulu area. The developers have tried to use that as a strength, by putting a heavy emphasis on greenery - and this is one of the few condos with a bamboo forest and a mangrove trail. The lap pool looks out toward the current unblocked plot of land across Woodlands Avenue as well, so you do get a feeling of openness here (it is zoned residential so it may change in the future).

You also get a little more spacious units, with the four-bedders being upward of 1,200 sq. ft. So for families that like greenery, this can be a more affordable alternative to places like Bukit Timah. 

That said, this is not a condo for those who prize accessibility. There's no MRT station nearby (Woodlands South MRT station on the Thomson-East Coast Line is 16 minutes away), so be prepared to use the bus or drive; this isn't likely to change (there are no significant transport infrastructure plans in the area). You'll probably be driving out to Causeway Point (around a five-minute drive) for day-to-day amenities.

There is a Sheng Siong supermarket within a walkable distance, and you can also walk to Vista Point where there is a Giant supermarket and food options like Subway and McDonald's.

For more on upcoming ECs, as well as in-depth reviews of new launches and resale condos alike, follow us on Stacked. We'll keep you up to date with the latest happenings in the Singapore private property market. 

ALSO READ: 4 upcoming ECs in 2022 for sandwiched buyers to look at

This article was first published in Stackedhomes.