Provence Residence EC (Executive Condominium) is an upcoming new launch project for sale in 2021. It is developed by MCC Land Singapore at Canberra Link, besides Parc Canberra EC, which was previously launched for sale in February 2020. Parc Canberra EC was 86% sold by end 2020. The price per square foot (PSF) per gross floor area (GFA) for both executive condominiums are very closely priced, $558 psf for Parc Canberra EC and $566 psf for Provence Residence EC
With Parc Canberra having the advantage of being the nearest EC located to an MRT station in the current batch of release, Provence Residences EC comes in second for nearest distance to MRT as it is a short 7 minutes’ walk to Canberra MRT Station.
Being located in the Sembawang district, Provence Residence is very near to the newly opened Canberra Plaza, hence it will benefit from future transformation that are currently under development progress such as the North-South Corridor – a brand new 21.5km long expressway connecting the northern region directly to the city centre, while also linking to other expressways such as the PIE, SLE, and ECP. The North South Corridor is slated for completion by 2026 and is expected to take away some of the possible congestion from the CTE.
Provence Residence EC is conveniently accessible to the CBD area via MRT. The 14 train stops from Canberra station to Raffles Place on the North-South line, takes approximately 40 minutes. The train travel duration from Sembawang to the CBD area is comparable to places such as Clementi, Punggol, or Upper Bukit Timah districts.
The area surrounding Provence Residence EC also offers an increasing number of amenities. Across Canberra Walk is the neighbourhood centre equipped with a mini-mart, hawker centre, retail shops, child-enrichment outlets and childcare centres. In the vicinity, is the new three-story Canberra Plaza, made up of 118,000 square feet of commercial space. It houses NTUC Fairprice supermarket, food courts, fast food outlets, gym, coffee joints such as Starbucks, medical clinics, and lifestyle shops such as Daiso. Besides that, an entire storey of Canberra Plaza is dedicated to enrichment centres such as ballet and music schools as well.
The construction of Bukit Canberra, a 12-hectare Sembawang Integrated Hub will be completed in the near future. It sits on Admiralty Hill, located diagonally across the traffic junction from Provence Residence EC. This integrated hub is built to be a low-rise development comprising amenities focusing on lifestyle and wellbeing of residences in the area. It will include both indoor and outdoor pools, a big ActiveSG gym, polyclinic, senior care centre, various lifestyle amenities, food court, and even a land set aside for community farming.
Focusing on the low-rise aspects of Bukit Canberra, along with Montreal Green park, it can be foreseen that units at Provence Residence EC facing this direction will likely enjoy unblocked views.
To conclude, do you think that Provence Residence EC will be a good investment, or more generally speaking, do you think Executive Condominiums are still good investment vehicles nowadays? Why or why not? Many people have also talked about how the price gap between EC and private condos have been narrowing over the years, why do you think it is so?
Are you a first time buyer or an upgrader looking to move on to an executive condo? It’s important to have a structured plan and exercise caution in order to minimize the risk of being forced to sell at a loss due to unforeseen circumstances. If you are planning to upgrade soon, I strongly urge you to plan ahead. Our team of expert consultants at Property Giant are happy to guide you to a stress-free transition. Contact us at firstname.lastname@example.org or +65 6100 6199 for a coffee session. No obligations.
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