Hundred Palms Residences EC site area is around 198,529 square feet. Thanks to a plot ration of 2.8, a gross floor area of 555,246 square feet will be the maximum allowed in the site. Around 520 units should be available to the residents.
When the site was launched for sale in 2015, experts had predicted that the winning bid will be in the range of S$260 to S$340 per square foot per plot ration. They also believed that the site would attract somewhere from 5 to 14 bids in total.
The bids for this EC site illustrate the interest in this sector by the property developers. This is despite the fact that there are still a large number of EC units that have remained unsold. Moreover, there are additional EC units that are currently being developed and yet to be launched.
Experts noted that the interest in this site is specific to its location. As such, it should not be taken as an indicator of the wider market conditions. The competition seems to have been intensified due to the ease with which residents will be able to access the development. Moreover, various facilities and amenities are within easy reach. The site should be particularly of interest to parents thanks to the convenient location of reputed schools in the vicinity.
Hundred Palms Residences EC is expected to show a strong level of interest in sales. Nestled in a matured HDB estate, the Hougang EC is surrounded by a wide array of amenities like shopping mall, schools and recreational facilities. Future residences can be served by Hougang 1, which is located 5 minutes walk away. Hougang 1 mall, which is previously known as Hougang Point, has a host of new and familiar F&B, retail, health and beauty, and enrichment choices housed under the brand new bright and spacious interior, Hougang 1 remains the heartbeat of the neighbourhood where families and friends can shop, dine and relax.
The new development is certain to be attractive to parents considering the many reputed schools in the surrounding area such as the popular Rosyth School. Other options include Hougang Primary and Secondary School, Montfort Primary and Secondary School, Yio Chu Kang Primary School and Holy Innocents’ High School. For higher education, residents can send their children to Nanyang Polytechnic and Serangoon Junior College.
For a family, the presence of good schools near the home is an important factor taken into consideration whenever a new residential space is being sought for. In the case of Yio Chu Kang executive condo, residents with families can rest easy knowing that there are good schools nearby such as Rosyth School.