River Isles Payment Schedule & Financing

On May 8, 2012, in River Isles, by Developer Sales Team

This page lists costs involved in buying a River Isles condo unit, when payments must be made, and sources of funds at each stage.
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Costs of Buying a unit at this Punggol Condo

Costs involved are:

  1. Purchase Price
  2. Basic Stamp Duty = Purchase Price x 3% – $5,400 (applies to all cases)
  3. Additional Buyer Stamp Duty (ABSD) :: ABSD only applies in certain cases:
    • Singapore Citizen who already owns 2 or more residential property: ABSD = 3%
    • Singapore PR who already owns one or more residential property: ABSD = 3%
    • Foreigner: ABSD = 10%
  4. Legal fees. Banks usually subsidize legal fees as part of their project package, subject to terms.

No agent commission or fee payable.

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Sources of Funds

  1. Minimum 5% must be from your own cash. (10% if you currently have a housing loan.)
  2. Your CPF monies in OA (Ordinary Account).
    Note: if this is your 2nd or subsequent property purchase using CPF funds, you must individually set aside at least $65,500 (applies before July 2012; this will increase after that) in your OA + SA combined, before you can use the balance.
  3. Bank Loan. See Financing below for maximum loan amounts, etc.

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Financing for River Isles Condo

Financing is typically from banks or financial institutions.

Government regulations for loans are as follows:
. Maximum of 80% loan if you do NOT currently carry a property loan.
. Maximum of 60% loan if you currently do have an outstanding property loan.

If you require financing, it is highly advisable to obtain an In-Principle Approval (IPA) in advance. It gives you assurance that you qualify for a loan, and ascertains the maximum loan quantum.

We have a panel of project mortgage bankers from all the major banks to advise you on the best possible loan packages for River Isles and help you get the IPA.

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Payment Schedule under Normal Payment Scheme

Payment terms & funding for those taking 80% (if currently no property loan) vs those taking 60% loan (if currently have outstanding loan). CLICK TO ENLARGE.
River Isle Payment Plan

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If you have any questions on costs, financing or funding for this Punggol condo, or if you need a copy of the Payment Schedule, just let us know through.

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OTHER DEVELOPER LAUNCHES

Another condominium that will be launching in District 19 will be the Gazania condo. But this one is a freehold private development, and it is located in the Bartley area. In fact, it will arise on the site of the former Sun Rosier at How Sun Drive, that is less than 5 minutes walk from Bartley MRT station.

The neighbourhood is a low-rise private residential estate. The Gazania condo site is zoned with a 1.4 plot ratio, so it will also only be 5 storeys high at the most. It will be surrounded by almost exclusively private homes, most of them one or 2, at the most 3 storey high landed houses.

The other attraction about the Gazania location is that it is just opposite the highly regarded Maris Stella High School. Well within the all important 1km radius, so parents with young boys may want to consider getting a home here. Not only would it be easier to get a place for your child, but he could just walk over each morning to school, without having to wake up at some unearthly hour to take the school bus. Saving a couple of hours or so each day would probably help his grades too!

The Gazania condo is also at the edge of the new Bidadari Estate. This is a young upcoming new estate that is touted as the new Bishan. It will provide lots of amenities, besides a big park and lake.

If you are a freehold fan, this project should appeal to you as the location is good too. Sign up to take a look at the Gazania showflat if you like, or to be kept posted on the floor plans and other details.

ParkSuites @ Holland Grove :: Opposite Henry Park Primary School :: Condo SOHO apartments & shops :: VIP Preview early 2015 by Far East Organisation

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River Isles | Punggol Condominium

On May 3, 2012, in River Isles, River Isles Punggol, by Developer Sales Team

River Isles is 100% SOLD.

River Isles Condo

River Isles is a new condominium for sale in Punggol 21+ waterfront town that sits between two reservoirs linked by its green coastal promenade and a 4.5km long waterway.

This coastal town with its exciting growth potential and huge range of water sports, outdoor activities, and parklands, is immensely popular, and all the condominiums launched so far have been snapped up quickly.

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Gallery

Click to enlarge and click on right of picture to scroll through. Click outside picture to come back.

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River Isles Condo Description

Beautifully landscaped with numerous water features. It enjoys many advantages and amenities such as:

  • Public transport: Coral Edge LRT station is 3 stops to Punggol MRT (22 minutes to Dhoby Ghaut)
  • Accessibility: easy access to Kallang Paya Lebar Expressway (KPE) & Tampines Expressway (TPE)
  • Supermarkets & Shops: Punggol Plaza is 5 minutes walk away
  • Major Retail Mall: Waterway Point (2x size of Junction 8 ) will be ready by 2016
  • Schools: several schools in the vicinity including Mee Toh School (within 1km)
  • Walking distance to reservoir & waterway with al-fresco dining & chill-out places & promenades
  • Myriad fun activities: water sports (jet-skiing, kayaking, scuba-diving), parks & gardens with jogging & cycling tracks by the reservoir

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River Isles Condo :: Punggol

River Isles Condominium in Punggol Waterfront Town :: CLICK TO ENLARGE

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River Isles Launch

VIP Preview May 2012.

Update: River Isles is fully sold out. Thank you for your interest.

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Other New Launches . The Penrose & Parc Esta

 
With River Isles fully sold, what are the other upcoming new launches in the north east and east of Singapore? Quite a few actually.

One of the most attractive new launches of 2020 will be the Penrose condo, at Sims Drive. This is a city fringe development, close to the Paya-Lebar district that is slated for rejuvenation as one of the decentralised economic hubs.

Paya Lebar Quarter and Paya Lebar Square sits right at the heart of this district. When Park Place Residences was launched here, it started sales at around $1,5xx PSF, but quickly progressed to slightly over $2,xxx PSF. It proceeded to sell out, even at those record prices.

The Penrose condo, within 7 minutes walk from Aljunied MRT station, is actually one stop closer to town, compared to Park Place Residences at Paya Lebar MRT station. However, it may possibly sell at below $1,6xx PSF, which would therefore present an opportunity to get into a city-fringe area at a fairly affordable price level.

In fact in some ways, Penrose is similar to the Parc Esta condo. Parc Esta is located right in front of Eunos MRT station, which positions it on the same East-West MRT line, but a couple of stops further from town.

However it is much nearer to the MRT station, being just across the road from it, as it occupies the site of the former Eunosville that was sold in a collective enbloc sale. (See the news article reporting on the Eunosville sale.)

So the advantages and disadvantages compared to Penrose, sort of evens out. Parc Esta is developed by an equally reputable developer, MCL Land. The floor plans are among its best features, besides its large land size that affords quite a nice range of facilities. Other than that, it does suffer a bit from the noise of the MRT tracks, something that Penrose will not have to contend with.

The Parc Esta showflat is located next door to the actual site. Viewings can be arranged by appointment.

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