Pre-MOP four-bedder at Bellewaters EC on the market for $1.1 mil

SINGAPORE (EDGEPROP) - A four-bedroom unit at the Bellewaters executive condominium (EC), located along Anchorvale Crescent in District 19, will be put up for sale at a guide price of $1.1 million ($973 psf) on Dec 15. According to Edmund Tie, which is handling the auction, the property is a bank sale.

Spanning 1,130 sq ft, the unit that will be up for auction is located on the fourth floor of the development. Being an EC unit still within its five-year Minimum Occupation Period (MOP), the property has so far “attracted good interest”, says Joy Tan, head of auction and sales at Edmund Tie. Typically, EC units can only be sold once the MOP period has lapsed. This makes this a rare unit to be put on auction, she adds.

Since the property is still within its MOP, it is only available for sale to Singapore citizens or permanent residents, who also have to qualify for HDB’s EC eligibility criteria, says Tan. Within two weeks from the successful purchase of the property, the owner of the unit will have to submit an application form to HDB.

Upon reaching its MOP, units in the development may be sold in the open market to a Singapore citizen or Singapore permanent resident. Upon its 10th year, the units will be privatised and can then be sold to foreigners, Tan adds.

Developed by Qingjian Realty, Bellewaters comprises 651 units on a 99-year leasehold, spread across 10 residential blocks of 16 and 17 storeys. Facilities at the condominium include a 50m infinity pool, sky lounge, water playground, tennis court, family BBQ pits, clubhouse and banquet hall.

Completed around 2017, the unit up for auction at Bellewaters is “well-kept and its future owner need not to spend much money on renovations”, adds Tan.

“After its MOP, landlord hopefuls may be keen to rent out the unit as it is situated near Sengkang General Hospital and is also a short drive to the Seletar Aerospace Park. They will thus be able to reach out to tenants working in these two places,” Tan says.

The condominium is within a 10-minute drive to shopping malls such as Compass One, Seletar Mall and Rivervale Plaza. Farmway LRT Station is a nine-minute walk away from the EC. Meanwhile, schools such as Springdale Primary School, Nan Chiau Primary School and Compassvale Primary School are a five-minute drive away.

Tan believes this would attract owner-occupiers and HDB upgraders such as young couples with children or multi-generation families. She adds that the unit offers a spacious and functional layout.