The second-timer applicants who’ve got BTO flats or resales flat with grant before, and second -timer applicants who obtains EC units direct from developers will need to pay a resale levy. However, the brand new requirement will be imposed on EC property land sales launched on or after December 9, 2013 including the ones that have closed their tenders yet.

The brand new measure executed on 09 December 2013 will affect the 2nd Timer applicants the most for these Executive Condo development. The EC affected by resales levy will be Westwoods EC, the Vales EC, Brownstone EC, Sol Acres EC and Signature at Yishun EC that have launched in 2015.

There are different scenarios whereby a resale levy is payable/not payable. The amount of levy payable will depend on the date you have sold your first subsidy flat.

Resale application to sell your first subsidised flat was received:	Payment Options
On or after 3 March 2006	The amount payable according to the flat type of your first subsidised flat: Flat Type Amount 2-room* $15,000 3-room $30,000 4-room $40,000 5-room $45,000 Executive Flat $50,000 Executive Condominium bought with CPF housing grant where the land sale was launched before 9 Dec 2013 $55,000 Executive Condominium where the land sale was launched on or after 9 Dec 2013 $55,000 *Buyers of short lease 2-room flat will pay a prorated amount base on the lease of their 2-room flat.
Between 19 May 1997 and 2 March 2006	The amount is based on the resale price or 90% of the market valuation of your first subsidised flat, whichever is higher. An accrued interest of 5% a year (up to the month payment is made) if you opted to defer the payment of the resale levy. The accrued interest will be calculated from the point resale of your first subsidised flat to the date you pay the resale levy. Flat Type Amount 2-room *10% / 15% 3-room 20% 4-room 22.5% 5-room & Executive 25% * 2-room flat sellers pay a lower rate, that is, only 10% if they buy a bigger flat direct from HDB.
Before 19 May 1997	If you sold a flat during this period, you were given two options at the point when you sold your first subsidised flat: Resale Premium 10 or 20% of the purchase price of the second subsidised flat bought from the HDB. If you are buying your next flat from the HDB, the resale premium will beincluded into the purchase price of your second subsidised flat. Graded Resale Levy The amount is based on the resale price or 90% of the market valuation of your first subsidised flat, whichever is higher. An accrued interest of 5% a year (up to the month payment is made) if you opted to defer the payment of the resale levy. Flat Type Amount 2-room 5% 3-room 10% 4-room 15% 5-room 20% Executive 25%

Paying the resale levy

The resale levy payable is determined at the point you book your second subsidised flat. Payment can only be made by way of your flat sale proceeds and/ or cash.

When and how payment is made

Flat Sale Timeline	Resale Levy Payment
First subsidised flat sold after taking possession of the second subsidised flat	Resale levy deducted from the sale proceeds upon the sale of the first subsidised flat Any shortfall to be paid in cash
First subsidised flat sold before taking possession of the second subsidised flat	Resale levy paid in cash upon taking possession of the second subsidised flat

Source: Property Home Search

New private home sales spiked last month owing to a strong showing at one condo launch, but sale number are likey to be muted over the next few months.Developers sold 1,594 new private homes in July, more than four times the 375 homes sold in June.These were the highest sales posted since June 2013, when 1,806 new private homes were sold.

July's new launch, High Park Residences in Fernvale Road, was the star performer. It sold 1,169 units at a median price of $989 per sq ft.



Mr Desmond Sim, CBRE research head for Singapore and South-east Asia, noted that the project has ridden on "quantum play", where small-sized units have made individual unit prices palatable.

Westwood Residences will be the hottest Condo at Westwood Avenue, Developed by GKoh Brothers Group Limited & Heeton Holdings Limited. This 99 years leasehold development has a total site area of approximately 187,200 square feet.

Four Reason to invest Westwood Residences

• Only EC within a private landed estate. No other EC in the market can offer that!
• Get to enjoy all the upside of JLD but yet go home to tranquil living away from hustle & bustle
• Only 480 units, very good sized development (not too big or small)
• Very limited supply, only the 2nd EC in Jurong over the last 15 YEARS!

AMID a lack of new project launches, developers sold 638 private residential units in Singapore last month, down from 1,167 units in April.

Another 207 executive condominiums (ECs) were sold by developers in May, taking the total residential units sold by developers to 845 units.

The top seller in May and the only project launched in the month was Westwood Residences, a project by Koh Brothers and Heeton Homes that sold 118 units out of a total 480 units at a median price of S$803 per square foot (psf).

UOL's Botanique at Bartley sold another 94 units at a median price of S$1,292 psf, bringing its total sales tally to 345 units since its launch in April.

Frasers Centrepoint's North Park Residences in Yishun moved another 59 units in May at a median S$1,397 psf, bringing the project's total cumulative sales to 538 units since its April launch.

The data were obtained through a survey of developers by URA and this information has been released every month since July 2007.

Prices at Westwood Residences range from about S$620,000 for a two-bedroom unit to S$1.1 million for a five-bedroom unit.

Developers of the latest executive condominium (EC) project on the market sold about a quarter of the 480 units on the first day of booking.

As of 7pm on Saturday (May 30), buyers picked up about 120 units at Westwood Residences, located at Jurong West.

The project was opened for sale on Saturday morning, after developers received some 500 applications to book units over the past two weeks.

Prices at the Westwood Avenue project range from about S$620,000 for a two-bedroom unit to S$1.1 million for a five-bedroom unit.

Developers say this averages out to about S$783 per square foot for the units - slightly lower than the indicative price of S$800 per square foot given earlier.

Westwood Residences is the first EC to be affected by changes to resale levy rules. The resale levy now applies to EC buyers who have previously bought HDB flats or ECs.

With the exception of the Lake Life EC in Jurong - which sold almost 98 per cent or 546 of its units - sales for the other recent EC projects did not move as fast.

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As of last month, four projects launched since November last year have more than 200 unsold units each, according to URA's numbers.

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Westwood Residences is the 1st ever bike-themed development to be built in Singapore situated near the energy of the Jurong Lake District. It is also a rare Executive Condominium (“EC”) nestled within the Westwood landed estate, not surrounded by HDB flats.

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Despite its location within the soon-to-be-revamped Jurong Lake District, the new Westwood Residences has an indicative pricing lower than that of a similar executive condominium in the area.

SINGAPORE: E-applications open on Friday (May 15) for Westwood Residences - a new executive condominium (EC) project in Jurong West which will be officially open for bookings on May 30.

The 480-unit development at Westwood Avenue is the first EC to be affected by changes to resale levy rules. The resale levy now applies to EC buyers who had previously bought HDB flats or ECs.

Westwood Residences has an indicative pricing of S$800 per square foot (psf). That is about six per cent lower than what another executive condominium (EC) project in the area - Lake Life EC - went for, S$850psf, when it was launched in November last year.

Said Mr Francis Koh, group CEO of one of the EC's developers, Koh Brothers Group “We have to consider the market. When compared to the nearby executive condo, what will buyers think of our condo? So we have to price it very competitively."

Westwood Residences is hoping to attract homebuyers by going big on cyclist-friendly features. It will house some 500 parking lots for bicycles - with a bicycle maintenance area - and an outdoor mini velodrome.

One analyst said it may be too early to say if the new EC project will benefit from the upcoming makeover for Jurong Lake District.

"This project is closer to NTU (Nanyang Technological University), and the Cleantech Park,” said Mr Sing Tien Foo, Deputy Head at the Department of Real Estate in the National University of Singapore. “For the Jurong Lake District area, the project may be located at the fringe of the Jurong Lake District. Although over time, when the area develops, we will probably see the spillover effect. Probably, this will take a while."

WESTWOOD Residences, only the second executive condominium (EC) to launch in Jurong over the past 18 years, is being priced at the lower end of initial expectations.

The developers, which initially targeted a range of $790 to $840 per sq ft, unveiled an indicative price of $800 psf yesterday.

The lower indicative price comes as EC sales have generally weakened since measures such as stricter mortgage loan terms were introduced to cool the property sector in December 2013.

Westwood Residences, which is being developed by Koh Brothers and Heeton Holdings

will be the first EC project where second-timers who have already bought a subsidised flat or EC unit will be subjected to a resale levy.

Depending on the type of flat the buyer first bought, the levy should work out to about $40 to $50 psf, Koh Brothers managing director and group chief executive Francis Koh told a briefing yesterday.

At $800 psf, upgraders will receive compensation in the form of a discount, while first-time buyers will get a subsidy, he said.

The developers paid $382 psf per plot ratio for the land last January. Construction and development is expected to cost between $360 psf and $400 psf.

Last October, Evia Real Estate's Lake Life EC in the Jurong Lake District went on sale at an average of $857 psf.

Lake Life, the first EC to launch in Jurong in 17 years, was a near sell-out. But look outside Jurong, and take-up rates at subsequent EC launches in Punggol, Sengkang and Woodlands were muted.

"If a Punggol or a Sengkang (project) can command $800 psf, for a Jurong (launch), anything in the range of $800 psf is a fair price," said PropNex Realty chief executive Mohamed Ismail, whose firm is marketing the project.

Buyers are now more "price-sensitive", he added, and Westwood's affordability should curb any "wait-and-see" behaviour.

The 480-unit, 99-year leasehold project is located within the private enclave of Westwood estate, and is four bus stops away from Boon Lay MRT station.

Westwood Residences is also Singapore's first bike-themed development.

Around $1.5 million is being spent on sports-themed lifestyle offerings, including an outdoor mini velodrome, an aqua gym and a garage that can house 500 bicycles, secured by a biometrics system.

ECs are a public-private housing hybrid where buyer eligibility is restricted to Singaporeans, with a minimum five-year occupation period before a unit may be sold in the open market.

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Westwood Residences showflats will open for viewing on May 15.
Prices will be announced three days before bookings begin on May 30.

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EXECUTIVE condominiums (ECs) have grown more popular with buyers in recent months as a price gap with mass-market condos widens.

The median price of a suburban 99-year leasehold condo unit climbed to $1,073 per sq ft (psf) in the first three months of this year, said property consultancy CBRE.

EC units were 30.6 per cent cheaper – with a median price of $745 psf in the same period

The price gap between ECs and condos has widened significantly, from 18.4 per cent in the fourth quarter of 2010, when the EC segment was relaunched. Then, the median price for an EC flat was $748 psf, while the median price for a suburban condo unit was $917 psf.

Median condo prices in the first quarter of this year have been driven up by higher prices at recent launches. All but one have posted average launch prices over $1,000 psf. For instance, Sennett Residence in Potong Pasir was launched at an average of

$1,450 psf, and Urban Vista in Tanah Merah was launched at $1,400 psf to $1,550 psf on average last month.

The only one with an average launch price below $1,000 psf in the first quarter was D’Nest in Pasir Ris, which was launched last month at an average $920 psf.

Consultants and agents said the widening price gap has prompted more buyers to consider ECs over suburban private homes, adding that the fancy features in recent EC projects sweetened the deal.

“Buyers continue to see value in ECs,” said CBRE executive director of residential services Joseph Tan. He said he expects the price gap between ECs and condos to remain at 20 to 25 per cent at least. He said demand for ECs from first-time buyers and extended families was likely to remain firm due to restrictions on ECs such as capping unit sizes at 1,722 sq ft and limiting the sale of dual-key units – with two separate entrances for privacy – to multi-generation families.

These restrictions were part of the seventh round of property market cooling measures which took effect in January.

Another factor boosting the popularity of ECs is that, for a given sum of money, buyers can get more floor space than in a mass market condo unit, Mr Tan said.

For instance, for $800,000, a buyer can get a 780 sq ft condo unit. The amount can buy an EC unit close to 1,100 sq ft, nearly the size of a five-room Housing Board flat, said Mr Tan.

Fancy facilities that several new projects boast are the icing on the cake, said property firm GPS Alliance chief executive Jeffrey Hong. Some ECs have features comparable to, or better than some condos, he added.

For instance, some ground-floor units at the Heron Bay EC in Upper Serangoon have private pools with Jacuzzis.

Mr Hong said the inclusion of such features has led buyers to “look at ECs more seriously” over the past three to six months.

A total of 569 EC units were sold from January to March, according to caveats lodged with the Urban Redevelopment Authority.

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The bulk of the new sales came from The Topiary in Fernvale, where 185 units went for between $600 psf and $809 psf in that period. Next was Waterbay in Punggol, where 100 units were sold for between $538 and $793 psf. Heron Bay also saw 91 units sold at $612 psf to $809 psf in January through March.

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Sources: straitstimes.com

Residents in Jurong can look forward to a more vibrant neighbourhood, starting with an expanded Jurong Lake Gardens that will combine the existing Chinese and Japanese gardens and Jurong Lake Park.

The upcoming “people’s garden” will also include a new Science Centre which will be completed around 2020, said Prime Minister Lee Hsien Loong.

These plans are part of a larger transformation of the Jurong Lake District over the longer term and are about making every corner of Singapore an outstanding environment in which to live, PM Lee said at the National Day Rally.

Last year’s rally shone a spotlight on development plans for Changi, Paya Lebar, Tanjong Pagar and Tuas.

This year, it was Jurong’s turn.

The district has come a long way from its origins as a swamp decades ago, said Mr Lee. The Jurong Gateway part of the area is now a new commercial region with several institutes and shopping malls.

But the other part of the district, known as Lakeside, houses gardens which look dated and “under-utilised”, said Mr Lee, who visited them in June. “I felt we could do much more,” he added.

The entire area has potential to be transformed in an ambitious manner, he said. For example, the lake can be reshaped and the gardens merged to “create one beautiful set of gardens in the heartland”.

And Jurong Lake Gardens can be a place where community gardeners can create and maintain “show gardens”.

The National Parks Board will call for garden design ideas next year, and Mr Lee asked Singaporeans to chip in with suggestions.

The “jewel” of the Lake Gardens will be the new Science Centre, which will be built on the north shore near the Chinese Garden MRT station.

Nearby flats and park connectors, as well as the spruced-up Jurong River, will be integrated with the gardens.

Mr Lee added that the upcoming Jurong Region Line and Cross-Island Line, together with the improved North-South and East-West MRT lines, will improve traffic in the region.

In the longer term, the Ayer Rajah Expressway could be shifted to create more space for lakeside housing, making it as pleasant as living near Bishan-Ang Mo Kio Park or Punggol Waterway.

The terminus for the Singapore-Kuala Lumpur High Speed Rail may even come to Jurong.

Said Mr Lee: “We’re discussing with the Malaysians. We haven’t settled this yet, but if we get the High Speed Rail terminus in the Jurong Lake District, then that will make Jurong a truly exciting gateway to Singapore.”

Project Information

PROJECT DESCRIPTION	Proposed Executive Condominium Housing Development Comprising of 5 Blocks of 12/14 Storey, 1 Block of 11/14 Storey, 1 Block of 13/14 Storey & 2 Blocks of 14 Storey Apartments (Total 480 Units) with 1 Block of MSCP, Common Basement Carpark and Communal Facilities on Lot 01805L Mukim 09 at Westwood Avenue (Jurong West Planning Area)
DEVELOPMENT NAME	WESTWOOD RESIDENCES
ADDRESS	180 Westwood Avenue, S 648145 182 Westwood Avenue, S 648146 184 Westwood Avenue, S 648147 186 Westwood Avenue, S 648148 188 Westwood Avenue, S 648149 190 Westwood Avenue, S 648150 192 Westwood Avenue, S 648151 194 Westwood Avenue, S 648152 196 Westwood Avenue, S 648153
DEVELOPER	KBD Westwood Pte. Ltd.
DISTRICT	22
LEGAL DESCRIPTION	Lot 1805L Mk 09 at Westwood Avenue
TENURE	99 years from 14 April 2014
SITE AREA	17,284.8 sqm
PLOT RATIO	2.8
NO. OF STOREYS	14
NO. OF UNITS	480
NO. OF PARKING LOTS	480 + 4 Handicap Lots (excl. visitor lots) - approx. 70% basement parking
TOTAL SALEABLE AREA	48,806 sqm
AMSL	60
EXPECTED VACANT POSSESSION	31 August 2018
EXPECTED LEGAL COMPLETION	31 August 2021
EST. CONSTRUCTION PERIOD	36 Months
WRITTEN PERMISSION(WP)	21-Nov-14
BUILDING PLAN(BP)	A1720-00003-2014-BP01 dated 1st April 2015
DEVELOPER LICENCE	C1152
CHEQUE PAYMENT MODE	Malayan Banking Berhad for Project A/C No. 04011518583
T/T PAYMENT MODE	(Beneficiary) KBD Westwood Pte. Ltd. (Bank A/C No.) 04011518583 (Bank Code) 7302 (Branch Code) 001 (Swift Code) MBBESGSG
ARCHITECT	ADDP ARCHITECTS LLP

Westwood Residences is the 1st ever bike-themed development to be built in Singapore situated near the energy of the Jurong Lake District. It is also a rare Executive Condominium (“EC”) nestled within the Westwood landed estate, not surrounded by HDB flats.

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Over 90% of the tower blocks are designed with North-South orientation, with 50% of the Westwood Residences units to enjoy unblocked views.

Complimented with full-height glass façade for natural lighting with minimum heat, generous windows promoting good cross-ventilation for every unit in the development promotes a sustainable design practice.

To show that we care, custom design balcony screens are provided for units facing West, as well as the provision of acoustic ceiling for units along the PIE.

With over 480 executive condominium units of various sizes, there’s a home for every family. Boasting unparalleled unblocked view, tranquil environment and state-of-the-art velodrome, Westwood Residences will be a place where you will call home.

Why Westwood Residences?

• Only EC within a private landed estate. No other EC in the market can offer that!
• Get to enjoy all the upside of JLD but yet go home to tranquil living away from hustle & bustle
• Only 480 units, very good sized development (not too big or small)
• Very limited supply, only the 2nd EC in Jurong over the last 15 YEARS!

Westwood Residences is an Executive Condominium located at Westwood Avenue, West Region of the island. This 99 years leasehold development has a total site area of approximately 187,200 square feet.

Westwood Residences’s site is bounded by Westwood Avenue and the Pan Island Expressway (PIE). It is right next to Floravale and opposite of the upcoming The Woods. Westwood Residences will comprise of more than 400 units upon its completion.

Westwood Residences's Summary:

Project Name:	Westwood Residences
Address:	Westwood Avenue, Singapore
Developer:	Koh Brothers and Heeton Homes
Tenure:	Leasehold 99 years
District:	D22
Gross Floor Area:	48,397.44sqm
No of Blocks:	3 Blocks
No of Units :	480 units
No of Types :	2 / 3 / 4 / 5 Bedroom

Westwood Residences is approximately 1.7 km away from Pioneer Train Station which runs the East West Line. The train services at Pioneer Station will bring its future residents straight to Boon Lay Train Station which they can access to the ample bus services at the Boon Lay Bus Interchange.







It is also 4 train stations away from Jurong East MRT Interchange, which residents can easily transit to the North South Line. For Westwood Residences’s future residents who drive, it will take approximately 17 minutes’ of driving to reach the Central Business District area.

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From Westwood Residences to Orchard Shopping Belt, it will need 20 minutes’ of driving. Westwood Residences’s is well connect to Jalan Bahar which links to the Pan Island Expressway (PIE) and the Kanji Expressway (KJE). These expressways provides its future residents with accessibility to island wide locations.

The shopping mall has undergone a major face lift and now house a large retail podium. New EC’s residents can also head down to Pioneer Mall, another neighbourhood mall which has supermarket, fast food restaurant, food court, beauty salon, clinics and many more.

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Highlights of Westwood Residences

• Quiet Surrounding – Westwood Residences is located in the quiet private residential neighbourhood.
• Closeness to Amenities – Westwood Residences is just walking distance to Gek Poh Shopping Centre.
• Close to Many Schools – Westwood Residences is good for families with school going children with many schools nearby.
• Lush Greenery – Westwood Residences is close to many greenery.
• Potential Gain – The future development of Jurong will have positive impact on Westwood Residences’s demand.

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Westwood Residences is situated right Nanyang Technological University. Future residents will be able to access the nearby Jurong West Sports & Recreation Centre which is a short drive away for some family fun and gatherings. A truly unique lifestyle awaits you.