Was NORTH GAIA (EC) @ YISHUN EC launch Disappointing?
As of 26 May 2022, from the Sales with is about 27% of the total units which is disappointing.
Nisha Ramchandani
The question to ask is WHY?
One of the reasons is the EC psf is on a high side compared to other EC launches and perhaps buyers cannot see the value for this EC in this price range. At the end of the day, it is about the price of the EC to the buyer.
North Gaia Executive Condo is one of the newest EC launch for 2022 which is located in Yishun. Not to mention, it is located close to Amenities. Residents looking to shop for Groceries can easily buy them from Sheng Siong Supermarket which is located on level 2 of Junction 9 which is about 10 mins walk from North Gaia EC. We have attached a map of Sheng Siong at Junction 9 for your easy reference. Besides groceries, residents of North Gaia would be able to purchase other necessities, do up their hair and of course dine at the F&B stores at Junction 9.
Why buy EC in Yishun?
The reasons for buying EC can be found in our other articles. The most obvious being that as a Singaporean it is your chance to purchase a condo at a subsidized rate as the land sold by the Government for the building of a EC is comparative lower than a normal Condo. The EC will be privatized in 5 years after TOP (Temporary Occupation Permit) is issued.
Hence the focus of this articles would be to help potential buyers understand the reason to consider purchasing a EC in Yishun. From the chart below, we can see the Price Trend of Symphony Suites and Nine Residences which are the closest condos to North Gaia EC.
If you buy an EC which is much newer than Symphony Suites and Nine Residences , you can be assured of a base psf which is around $1,150 to $1,200. However, this is not a guaranteed but it just serves as a guide price..
Reasons to buy a EC in Yishun
- Lack of Supply especially in EC as the last EC that was launched in Yishun was in May 2014 for a plot in Yishun Street 51 was The Criterion EC.
- Access to Anemities
- Tranquil Neighbourhood
- Competitive Pricing for newly launched
Key Take ways
Whilst living in Yishun may not seem like an ideal location for some, there are many others who feel that Yishun is indeed a great place to stay and bring up a family especially if you like the area close to Nature.
Hence, if you are looking to upgrade to a private condo at subsidised pricing, look no further than Yishun, look for North Gaia.
Do give us a call and we will explain the processes in the purchase of a EC.