The Visionaire EC · Convenient Shopping

Living at The Visionaire EC will be pretty convenient, as it abounds with a number of shopping centres around it. Each centre has its own character, and they offer a variety and choice of retail & lifestyle shops, supermarkets, banks, cafes, food courts, and F&B and entertainment outlets.

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The Visionaire EC · The Malls Around

  1. SUN PLAZA @ 30 Sembawang Drive
    This is conveniently located right next to Sembawang MRT station, just one MRT train stop from the Visionaire EC. The newly revamped Sun Plaza is a cheerful heartland mall with an NTUC FairPrice supermarket, shops, a public library, food court, fast food outlets, and casual eateries like Sushi Express.
  2. SEMBAWANG SHOPPING CENTRE @ 604 Sembawang Rd
    Located within walking distance to the Visionaire EC is the old-time favourite Sembawang Shopping Centre (click here). This mall has been revamped too, and now has a lively mix of brands like Giant hypermarket, an Esprit outlet, Japanese goods store Daiso, Popular bookstore, a spa and hair salon. You will also find a handful of student enrichment centres and a Yamaha music school here.
  3. NORTHPOINT CITY @ 930 Yishun Avenue 2
    NorthPoint City :: One MRT stop from the Visionaire ECNorthpoint City . One MRT stop from the Visionaire EC . Click to Enlarge
    Right now, Northpoint Shopping Centre at Yishun Town Centre is a old shopping mall with basics like a Cold Storage supermarket, food court, a Starbucks cafe, pharmacies, hair salons, banks, and so on. But by 2018, it will double its size and be transformed into a mega shopping complex called Northpoint City. This will make it Singapore’s largest suburban mall with a huge 1.33m sq ft of space, that will integrate with a community centre, town plaza, and air-conditioned public transport hub.
  4. VICTORY 8 @ 8 Jalan Legundi
    This is a small boutique development serving the community around Jalan Legundi, across the road from Sembawang Shopping Centre. With its handful of cool new cafes and eateries, it expands the dining and shopping options of the residents here.
  5. CAUSEWAY POINT @ 1 Woodlands Square
    Causeway Point, at Woodlands MRT Station (3 train stops from the Visionaire EC) is one of the largest shopping malls in Singapore. It boasts well-known anchor tenants like Cold Storage supermarket, Metro department store, Japanese fashion chain Uniqlo, Courts furniture & electronics store, and The Coffee Bean & Tea Leaf cafes, with a wide assortment of shops. There is even a Cathay Cineplex.
    Causeway Point . 3 MRT stops from The VisionaireCauseway Point . 3 train stops from the Visionaire EC

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THE VISIONAIRE EC · SHOWFLAT VIEWING · E-APPLICATION

If you would like to be kept posted on all the Visionaire EC updates or register for a showflat viewing, please email us here.

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OTHER LAUNCHES BY DEVELOPER

Seaside Residence launch in March 2017 . Register here for the Seaside Residences showflat Viewing . Panoramic sea views and next to MRT station . Close to Marina Bay, CBD & Changi Airport

The Visionaire EC · Sembawang · A Food Haven

For those of us who delight in one of Singapore’s national pastimes – eating – just the thought of the foods around the Visionaire EC is enough to whet one’s appetite. Sembawang is a foodies’ haunt, home to some of the best known favourite eating places, with a mix of hawker classics juxtaposed against a growing cafe culture.

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The Visionaire EC at Sembawang Food Joints

The Visionaire EC · Old Time Favourites Hawker Fare

If you come to live at the Visionaire EC, here is a quick list of tempting places to get your fix of hawker food:

  • Chong Pang Market & Food Centre @ 104 Yishun Ring Rd
    One of the favourite haunts of residents. Offers a wide choice of local hawker classics.
  • Chong Pang Nasi Lemak @ 447 Sembawang Rd
    Famous nasi lemak. Even has its own website www.chongpangnasilemak.com
  • Sum’s Kitchen & Hong Kong Roasted Meats @ 3 Jalan Legundi
  • Sembawang White Beehoon @ 22 Jalan Tampang
  • 928 Yishun Laksa @ #01-155 Blk. 928 Yishun Central 1
  • Chye Lye Fish Head Curry @ 1 Jalan Legundi
  • Yishun 925 Hainanese Chicken Rice @ #01-249 Blk. 925 Yishun Central 1
  • Ngee Fou Restaurant @ 928 Upper Thomson Rd
    People come from all around the island for their really tasty Hakka Yong Tau Foo, so unlike that elsewhere.

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The Visionaire EC · The Cafe Culture

When you tire of hawker fare, there are lots of new cafes for a change, and even specialty ice cream parlours. Victory 8 at 8 Jalan Legundi is home to some of them.

  • Holy Cow Creamery, #01-291 292 Yishun St. 22
    A hip & cool ice cream specialist, with its refreshingly unusual recipes. Like its best-selling handmade salted gula melaka ice cream. See www.facebook.com/HolyCowCreamery.sg
  • Mootime @ #01-05 Victory 8
    Ice-cream seems to inspire refreshingly apt names. Also serves gourmet flavours, waffles and desserts. www.facebook.com/mootimesg
  • The Daily Scoop @ #01-05 Sembawang Cottage, 369 Sembawang Rd
    New arrival. Another apt name. www.thedailyscoop.com.sg (opens in new window)
  • RoyceMary Cafe @ #01-13 Victory 8
    Artisanal coffee-focused cafe. Noted for its handcrafted heart-shaped macaroons, and green tea lava cake. See www.roycemarycafe.com for more.

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The Visionaire EC Sembawang Cafes

The Visionaire EC · Restaurants

For family gatherings or get-togethers with friends & colleagues, there is a nice selection of restaurants here too.

  • Orchid Live Seafood Restaurant @ 1 Bah Soon Pah Rd
    An old family favourite for seafood. Serves dishes like chili mussels, bamboo clam, and cold crab. Find out more at www.orchidliveseafood.com.sg
  • Auntie Kim’s Korean Restaurant @ 431 Sembawang Rd
  • JJ Thai @ 8 Jalan Legundi
  • The Prata Place @ 1 Thong Soon Ave
    Head here for Indian fare or your prata fix. See www.theprataplace.com.sg

The Visionaire EC Sembawang Food

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The Visionaire EC · The Bar Culture

  • Quench @ #01-10 Orto, 81 Lorong Chencharu
    One of the best bars around Canberra, in the Orto complex. Overlooks a fishing pond and known for its variety of craft beers. See www.quench.com.sg
  • Flamingg Mangos @ 50 Jalan Malu-Malu
    A grill and wine bar inside a private residential estate. Long time favourite of local residents. See www.flaminggmangos.com. The food joints of Sembawang can lay claim to some pretty inspired names.
  • Handlebar @ 57 Jalan Mempurong
    A biker bar at the northernmost tip of Singapore, with a view of Johor across the Straits of Johor. Another inspired name :) Handlebar is famed for its BBQ hot wings, aka Cocaine Wings due to their addictiveness, with varying levels of of spiciness. See www.handlebaroriginal.com

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THE VISIONAIRE EC · SHOWFLAT VIEWING · E-APPLICATION

If you would like to be kept posted on all the Visionaire EC updates or register for a showflat viewing, please email us here.

New Canberra EC Launch :: Eligibility Guide

HDB Eligibility Guide for the new Canberra EC Launch

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Since Visionaire is an executive condo, HDB’s eligibility criteria (set out below) applies for booking a unit at this new Canberra EC launch. If you would like assistance in checking your eligibility, please email us here.

Source: HDB website (www.hdb.gov.sg)

Citizenship
  • The main applicant must be a Singapore Citizen
  • Application must include at least one other Singapore Citizen or a Permanent Resident

Age
  • Applicants must be at least 21 years old when applying for this new Canberra EC
  • Both applicants under the Joint Singles Scheme must be at least 35 years old

Family Nucleus

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

  • Public Scheme
    You (the main applicant) and;
    * Your spouse, and children (if any)
    * Your parents, and siblings (if any)
    * Your children under your custody (if you are widowed or divorced)
  • Fiancee/Fiance Scheme
    You (the main applicant) and your fiancee/fiance
  • Orphan Scheme
    You (the main applicant) and;
    * Your unmarried brothers/sisters, or
    * Another unrelated single orphan
  • Joint Singles Scheme
    You (the main applicant) and another single person

Income Ceiling
  • Your monthly combined household income cannot be more than SGD$14,000

 

Requirements for Undischarged Bankrupts

Undischarged bankrupts need to seek the Official Assignee (OA)’s consent to apply for the new Canberra EC. However, they need not seek the OA’s approval for inclusion as an occupier.
 

Ownership of Private Property

You, your spouse, and any occupiers and their spouses listed in this application, must not own or have divested yourself of, or have any share or part in any private flat, condo, house, building or land (including overseas property).
* Within 30 months before the application date, and
* Between application date and date of taking possession of this new Canberra EC.
 

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

Each Singaporean household can buy the following housing types only twice:
* a flat directly from HDB;
* a resale flat with the CPF Housing Grant (this only applies to 1st timers);
* a new DBSS flat;
* a new Executive Condominium from a developer.

If you have previously bought 2 such units, you cannot apply for, or be listed as an essential occupier in an application for this new Canberra EC launch.
 

What are 1st timer Applicants

You, any co-applicants, and any essential occupiers included in your application for this new Canberra EC launch, have NEVER:
* Bought a flat directly from HDB, or Executive Condo or DBSS unit from developer
* Sold a flat bought directly from HDB, or EC or DBSS flat bought from developer
* Obtained the CPF Housing Grant for the purchase of a HDB resale flat
* Received other forms of housing subsidies (eg. privatisation of HUDC estate, SERS, etc)

70% of the units will be reserved for first-timers during the initial period of this new Canberra EC launch.
 

What are 2nd timer Applicants

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

2nd timers buying Visionaire EC are required to pay a Resale Levy. For more info on the resale levy, see this (opens in new window).
 

Existing Owners or Ex-Owners Of

* A flat bought directly from HDB
* A DBSS flat bought from a developer
* A resale flat bought with a CPF Housing Grant

If you fall into any of the above categories, you may apply to buy a Visionaire EC unit if at least 5 years (excluding any period of subletting the whole flat) has elapsed from the #date of taking possession of the subject flat to the date of application for this new Canberra EC.

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

Ex-owners of an Executive Condominium

Are you, your spouse, or any essential occupier listed in the new application an ex-owner of an EC unit bought direct from a developer? If so, you must wait at least 5 years from the date of taking possession of the earlier EC, before applying for this new Canberra EC.

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

Essential Occupiers

Anybody applying to buy the Visionaire EC, or to 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 with a CPF Housing Grant

However, you may be eligible if you have lived in the existing flat for over 5 years from the #date of taking possession of the existing flat, to the date of application for this new Canberra EC.
 

Cancellation of Application After Booking a HDB Flat

If you have booked a new HDB flat and subsequently cancelled your booking, you must wait out a 1-year period from date of the cancellation, before you can apply for, or be listed as an essential occupier for this new Canberra EC launch.
 

Divorcees

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

  • Flat bought direct from HDB
  • EC / DBSS flat bought direct from a developer
  • Resale flat bought from the open market with a CPF Housing Grant

If there is an existing matrimonial home that 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 the Visionaire EC, but only after 3 years from your divorce.

However, this 3-year wait out period will be waived if you are buying this new Canberra EC with a new spouse or with your parents.

If there is no matrimonial home, or if it was bought from the open market without a CPF Housing Grant, you may apply for this new Canberra 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 wait out period from the date of your divorce.

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

The requirement to seek your ex-spouse’s consent during the 3-year wait out 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 time of divorce; and
  • You have legal custody of all your children, and are also the only parent with 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 the CPF Housing Grant, but terminated the Sale & Purchase Agreement for that, may apply to buy a unit at this new Canberra EC launch.

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

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Source: HDB Website

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OTHER LAUNCHES BY DEVELOPER

Inz Residence EC launch early 2017 . Sign up for the Inz Residence floor plan brochure & site plan . By Qingjian Realty

Visionaire Launch

Visionaire Launch . Are ECs a better long-term investment than condos?

The Business Times, 25 February 2016 reports that prices of executive condominiums (ECs) do indeed catch up with those of private condominiums after the first five-year minimum occupation period (MOP). And even more so 10 years after completion.

This is because the developer launch prices for ECs (such as for the Visionaire launch) is around an average of 20% lower than for similarly located private condos, due to the sales restrictions applicable to ECs, as well as their lower land costs.

But upon fulfilling the 5-year MOP, and at the 10 year privatisation stage, the discount narrows to 9% and 5% respectively.

At the end of the MOP period, ECs can be sold on the open market to Singapore citizens or Singapore permanent residents. After 10 years, they are deemed privatised and the restrictions are fully lifted, and they can be sold to foreigners too.

Bellewoods EC by Qingjian . Developer for Visionaire LaunchBellewoods EC by Qingjian . Developer for Visionaire EC Launch

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The Visionaire Launch · A Guaranteed Profit?

This does not mean that every EC is a sure-profit buy. Historical data shows that it depends largely on the initial purchase price.

By matching the sales data at 21 EC projects that have already privatised, and analysing their profits at the 5 and 10 year points, the study found that 13 projects made a loss after 5 years, mostly because they were bought during the boom period before the Asian financial crisis.

The remaining 8 ECs managed gains of over 20 per cent.

But at privatisation (ie. the 10 year point), all the ECs became profitable. How much profit the owners made depended on the ECs’ location, and surrounding condo supply at the time of sale.

Based on historical sales data, first-hand owners of privatised ECs are sitting on substantial gains, the report said.

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The Visionaire Launch · A Growing Trend

The report also highlighted a trend that The Business Times had in fact reported on in an earlier article in January. That article postulated that increased vacancy rates could be a sign that buyers are treating ECs as an investment. Young-couple EC buyers could be continuing to live with their parents after marriage, while waiting for their ECs to appreciate in value before selling.

The study also highlighted something that is not surprising. Comparing the purchase of an EC with that of a private condo if each is held for 10 years, the report said that ECs could in fact be the better long-term investment due to their higher internal rate of return.

This is due to their comparatively lower purchase prices. Also from the 6th year onwards, ECs can be rented out, and their rentals tend to be on a par with similar private condos, giving a higher yield. This helps to significantly defray their costs.

The hypothetical study assumed a 1,100 sq ft EC bought for S$875,000, and a comparable condo bought for S$1.09 million.

The hypothetical buyer has a household income of S$14,000, with a loan of 80 per cent over 25 years at a fixed interest rate of 2.5% per annum.

Rents for both are assumed at S$3,000 per month. To simplify the study, costs such as maintenance fees, stamp fees, and taxes were not considered.

At the end of 5 years, the private condo appeared to be the better buy, because the EC unit was not able to offset its mortgage payments with rental income, as it is restricted from renting out the whole unit. This dampened its capital appreciation value.

But once rental restrictions are lifted after the 5th year, the EC quickly outperformed the condo.

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The Visionaire Launch · Conclusion

Does this mean that this partially state-subsidised housing for the “sandwiched class” buyer has become irrelevant? One of the authors of the report said no.

…given the significant price gap between ECs and private condos, ECs provide an affordable option to HDB upgraders or 1st timers who aspire to achieve a higher standard of living. Though some may be buying ECs for investment, the majority are buying them for their own occupation.“, she said.

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Adapted from: The Business Times, 25 February 2016 (See report – opens in new window).

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VISIONAIRE EC LAUNCH · SHOWFLAT VIEWING · E-APPLICATION

If you would like to be kept posted on all the Visionaire launch updates or register for a showflat viewing, please email us here.