Jurong’s Westwood Residences Eyes Lower Price Strategy As First EC Subject To Resale Levy, Business
Westwood Residences Executive Condominium (EC) – located at Westwood Avenue and consists of 480 units and a bedroom range to 2 Bedroom (Fully Sold) to 5 Bedroom. Jurong West area has a strong heritage as it was previously dominated by large areas of swamp and it was not until the 1970s that the government has decided to revent the area into its present housing estate which is now one of the largest in Singapore.Westwood Residences Executive Condominium being located in the Jurong West thus has a rich heritage from the surrounding areas.
If there is no matrimonial home or the matrimonial Westwood EC home was bought from the open market without any CPF Housing Grant, you may apply for any of the above housing units after you get your ex-spouse’s consent not to own or be listed as an essential occupier in any of the above housing units within the three-year period from the date of divorce.
If you belong to any of the above categories, you may apply to buy a unit at the Westwood EC launch on condition that a 5-year period (excluding any period of subletting of the whole flat) has lapsed from the #date of taking possession of the previous flat to date of application for the new EC.
If you intend to apply to purchase an EC where the Temporary Occupation Permit for the EC has been issued, you will be required to dispose of your existing HDB / DBSS flat within 6 months from the date the Developer serves the Notice of Vacant Possession on you.
A possible reason this tender attracted a bullish top bid is that the top bidder is very confident this EC project will face minimal competition when it is launched in 2015, as there is limited supply of new EC developments in this location,” said Mr Nicholas Mak, Executive Director of Research and Consultancy at SLP International Property Consultants.