Builders in Singapore are infamous for giving their condominium and EC developments unpronounceable overseas names. In that regard, the Ola is definitely pretty easy and shouldn’t trigger the taxi uncle to shout “huh?” too many occasions.

This upcoming government condominium (EC) within the Sengkang space is supposed to evoke Mediterranean residing (“ola” means wave in Spanish), however frankly, our important considerations are how shut it’s to an MRT station and whether or not we will truly afford it.

 

Ola EC at Anchorvale Crescent – undertaking overview

EC Venture Ola
TOP 2022
Developer EVIA & Gamuda Land
Tenure 99 years leasehold
Tackle Anchorvale Crescent
No. of models 550
Unit varieties 2- to 5-bedroom penthouse, 775 to 1,722 sq ft
Worth Estimated at $1,100 psf
Upkeep charges $300 to $440

For many who are nonetheless questioning what the distinction is between ECs, HDB flats and condos, ECs are bought by the HDB however developed by personal builders. They normally look no completely different from personal condominium developments, and include services like swimming swimming pools.

The principle variations between the 2 are: 1) ECs are cheaper than personal condos, 2) ECs are normally positioned at quieter, non-mature estates, and three) as they’re bought by the HDB, you’re topic to HDB guidelines similar to racial quotas and an revenue ceiling (at the moment $16,000).

After 10 years, your EC mainly turns into personal property. That signifies that when you resolve to promote it, the patrons not should fulfil HDB’s standards, so single folks below 35 and foreigners should purchase it.

To search out out extra about ECs, learn our Step-by-Step Guide to Buying an Executive Condo (EC) Unit in Singapore.

 

Ola EC worth

At present, The Ola EC price list has not been launched to the general public. You may, nevertheless, ebook an appointment to view the present flat and worth record, presumably even getting “early fowl” reductions.

In line with the builders, the typical estimated promoting worth of models at The Ola is $1,100 psf.

Meaning patrons shall be forking out about $852,000 (or extra, since small models are usually bought at larger psf costs) for the smallest, 775 sq ft 2-bedroom models. The largest 5-bedroom penthouse models, at 1,722 sq ft, will price $1,894,200.

Now, that sounds fairly rattling costly, however such costs have truly been typical of Anchorvale currently.

For example, listings for one more EC improvement, Treasure Crest, positioned only a stone’s throw from The Ola, had been priced at about $1,058 to $1,111 psf. In the meantime, the typical indicative worth of EC Rivercove Residences, launched within the Sengkang space in 2018, was about $950 psf, which makes the property considerably cheaper but in addition a lot farther away from the closest MRT station and due to this fact extra reliant on the LRT.

That’s nonetheless costly in comparison with, say, Hundred Palms Residences @ Yio Chu Kang EC, launched in 2017, which was priced at an average of $836 psf, with models costing from $715,000 for 3-bedroom models to $1.288 million for 5-bedroom models.

 

Ola EC location

The Ola is positioned proper reverse Sengkang Group Hospital, which is perhaps a deal-breaker for the superstitious. Hospitals are thought of very “yin”, so residing too close to one is dangerous feng shui.

When it comes to transportation, the Ola isn’t so dangerous. The closest MRT station, Sengkang, is about 10 minutes’ stroll away. It’s also positioned 2 minutes’ stroll from Cheng Lim LRT station… but it surely truly takes much less time to easily stroll to Sengkang MRT station than to take the LRT there. In addition to, when you’ve ever lived in a location that required you to take the LRT, you’ll know that it may be a ache within the neck.

The MRT trip from Sengkang MRT to Raffles Place MRT takes about 36 minutes and entails taking the North-East line after which switching to the North-South Line at Dhoby Ghaut. You’ll additionally should think about strolling time to Sengkang MRT from house. The journey is longer when you want to take the LRT after which the MRT.

All in all, you’re a morning commute of about 50 minutes by public transport when you work within the CBD, which is longer than common.

Close by facilities and services
MRT Sengkang
LRT Cheng Lim
Supermarkets Sheng Siong (Anchorvale Crescent), U Stars (Anchorvale Avenue), Prime Grocery store (Compassvale ST), Chilly Storage (Compass One)
Buying malls Compass One, Rivervale Mall, Rivervale Plaza, Waterway Level, Seletar Mall
Faculties Springdale Main Faculty, Nan Chiau Main Faculty, Punggol Inexperienced Main Faculty, Seng Kang Main Faculty, Compassvale Main Faculty, Fern Inexperienced Main Faculty, Sengkang Inexperienced Main Faculty, Nan Chiau Excessive Faculty, Edgefield Secondary Faculty, Seng Kang Secondary Faculty, CHIJ St Joseph’s Convent

 

Ola EC services

There’s a Sheng Siong inside strolling distance, U Prime and Prime Grocery store shops at about 10 minutes’ strolling distance, in addition to a giant Chilly Storage at Compass One, positioned beside Sengkang MRT.

The closest shopping center is Compass One, adopted by Rivervale Mall, Rivervale Plaza and Seletar Mall. Punggol Waterway Level isn’t too far-off by automobile or public transport.

There are many major and secondary faculties within the space, together with some inside strolling distance, like Springdale Main and Compassvale Secondary Faculty. For these dad and mom who need to ship their youngsters to model title faculties, SAP college Nan Chiau Excessive Faculty and CHIJ St Joseph’s Convent are shut by.

Households with youngsters and waters sports activities fans may also discover the proximity to Punggol Waterway Park to be a plus—it’s even reachable on foot in about 40 minutes, and the strolling paths and biking tracks by the close by river give the realm a scenic allure.

Leisure services within the space embody Anchorvale CC and Sengkang Sports activities Hub.

 

Ola EC services

Aside from the Spanish-inspired way of life the builders declare you’ll get to take pleasure in whereas residing on the Ola, essentially the most seen facility can be the swimming pool, an indoor and outside gymnasium, and tennis courts.

The event supposedly options Spanish-made decorations and work courtesy of a Spanish artist, and primarily based on the builders’ mock-ups, they plan to present the place a Mediterranean look with palm bushes aplenty. That being mentioned, the precise property seems like a reasonably commonplace EC.

 

Conclusion: is Ola EC at Anchorvale Crescent a great purchase?

The Ola is a bit on the dear aspect contemplating its location in Sengkang. For those who choose a extra centrally-located property, you possibly can most likely discover higher offers at this worth. Until residing in Sengkang is a specific draw for you, similar to if you wish to have entry to Punggol Waterway Park, it’s not likely worthwhile to pay such a premium.

Do you suppose the Ola is an efficient purchase? Share your opinions within the feedback!

 

 

Featured picture credit score: artist’s impression, taken from official website (ola-ec-official.com).

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