Piermont Grand location
Piermont Grand, the highest anticipated Executive Condominium (EC) is expected to launch in June / July 2019. The last EC to be launched was Rivercove Residences which was sold within 5 months of launch, with a per square foot range of S$ 945 – S$ 1,052 psf, with an average of S$ 1,001 psf.
Piermont Grand is located in District 19 and it can be reached via Nibong or Sumang LRT.
Summary of Piermont Grand EC information
|Project name||Piermont Grand EC|
|Developer||CDL Constellation Pte Ltd and TID Residential|
|Site Area||27,056.40sqm / 291,232.70sqft|
|TOP||2022 – 2023|
|Total number of units||820|
|Unit mix||3 – 5 bedrooms (sizes to be confirmed)|
|Facilities||13 blocks in total |
Full fledged gymnasium
50m lap pool and children’s pool
BBQ pits and gourmet pavilion for residents
Views of Punggol river
Living in a condo – what to expect?
Definitely different from a HDB for sure.
You’ll be in a gated compound, with a security guard, covered car park, swimming pools, gym, function room, BBQ pit, funky facilities if the developer includes it like hydrotherapy pools, golf simulation room and convenience store among many others.
Life will definitely be different. It’ll be a quieter and more serene environment, with open spaces and greenery for you and your family to stroll about and enjoy.
Security and safety is much better with a security guard available 24/7 and does occasional rounds at the condo.
ECs appreciate more in price than HDBs do
Glad you asked the question.
TLDR: EC’s appreciate more.
Let the following chart show you the number.
ECs appreciate 148% from 2004 to 2019. In annual terms, this is about 6.2%
HDB flats appreciate half by 76%. In annual terms, this is about 3.8%.
In other words, you as an EC owner would be twice as rich as, erhrm, a HDB flat owner if you had bought and held over those years.
Nobody is to blame because the government has made it their goal of HDB’s being affordable housing for Singaporeans. Naturally the price increases cannot be very high.
Now which type of housing will you choose if you had a choice?
The difference is even more stark.
This is because of the huge amount of HDB supply in D19. And we know that when there’s much more supply than demand, prices fall, which is exactly what happened from 2013.
On the other hand, if you had been an EC owner, you’d have made quite a tidy sum of money.
The supply of ECs in D19 was very little, and when there’s a lot of demand like we saw for Rivercove, the price shoots up.
That’s what happened in 2018 which you can see from the chart.
Now again, the question is would you choose to buy an EC or HDB, if you had a choice?
Transport options for Piermont Grand EC residents
Piermont Grand EC is situated right beside Nibong LRT, which is 3 stops from Punggol MRT.
From Punggol MRT, you’re 5 stops to Serangoon MRT where there’s NEX shopping mall and a connection to the circle (orange) MRT line.
6 stops later, you’ll be at Dhoby Ghaut which is right in the centre of town.
The convenience for residents are Piermont Grand EC is actually not that bad, considering the condo is in Punggol.
A total of 11 stops from Punggol to Dhoby Ghaut MRT means a travel time of about 22 mins, assuming travel from each stop is approximately 2 mins.
Plenty of things to do around the condo
One great benefit for residents staying in the Punggol area is the greenery in the area.
There’s Coney Island.
There’s My Waterway @ Punggol
There’s Waterway Point, a mall that has everything you need under one roof.
Sengkang General Hospital is nearby should you need any emergency attention. Hopefully not.
There’s also a fair number of primary and secondary schools such as Punggol secondary, Edgefield secondary, Greendale primary, Rivervale primary and many more.
Parents definitely want to send their children to brand name schools, but in MOE’s eyes, every school is a good school, and the standard of the schools in Punggol will be fairly good too.
Pent up demand for ECs
The last EC to be launched in the area and the whole of Singapore was Rivercove in Jul 2018.
That EC was sold out within 5 months, indicating the deep demand for private housing among Singaporeans and HDB upgraders.
Piermont Grand EC is expected to receive the same hot reception as Rivercove EC, given the number of HDB residents staying in the Punggol and Sengkang area.
Add to that the number of upgraders around the island.
Important things to know if you’re a HDB upgrader
We understand there could be many of you wanting to upgrade from a HDB and live the private condo life.
As Piermont Grand EC is a form of public housing in the first 5 years, HDB stiuplates some conditions on buyers.
As a reminder, ECs can be sold to Singaporeans only at the 5 year mark and then in the open market at the 10 year mark (to either Singaporeans and foreigners)
If you’re a HDB upgrader, do note the following
- You must have met the 5 year MOP of your current flat
- You can apply under the public, fiance/fiancee, orphans and joint single scheme
- You must be a Singaporean citizen; At least 1 other applicant must be a Singapore citizen or Singapore permanent resident
- All singles must be Singapore citizens if applying under the joing singles scheme
- Your combined income must be below S$14,000
We’re happy to get you started on upgrading from a HDB to an EC, to get your first EC, or to downgrade from a private house to an EC.