Westwood Residences (Executive Condominium)

Westwood Residences (Executive Condominium)

 

Westwood Residences EC is jointly developed by two established property developers, Heeton Homes & Koh Brothers. If there is no matrimonial home or the matrimonial 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.

You are liable to pay a resale levy of $55,000 when you Westwood Residences EC buy a second subsidised flat from HDB or take over ownership of a subsidised HDB flat after selling the EC bought under the CPF Housing Grant Scheme (after meeting the 5-year Minimum Occupation Period (MOP) and the 30-month period).

Based on resale transactions of the last 2 EC launches (The Floravale/ Summerdale) about 17 years ago, most 1st owners in both projects who sold their units within the last few years (with the exception of 2006-2007) have made a profit of up to 100% from their home sales, not forgeting that they have enjoyed being a resident in the property for the last 15 years.

SINGAPORE — Developers remain confident about the prospects of the executive condominium (EC) market, placing bullish bids for a site for the hybrid private-public homes yesterday, even though demand could be curbed after rules governing the housing scheme were tightened last month.

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