The Rainforest | CCK EC | Pricing & Financing

This page explains the costs involved in buying a unit at this CCK EC, and when and how to pay for it. If you have any questions, please email us below. We will be very glad to assist.
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The Rainforest | Pricing

The Rainforest EC prices will be announced 2 days before booking starts. However indicative pricing is as follows:

Type No of Units Area (sq m) Area (sq ft) Indicative Pricing
2 Bedrooms + Study 14 76 – 96 sq m 818 – 1,033 sq ft $600K – $650K
3 Bedroom Compact 161 88 – 112 sq m 947 – 1,209 sq ft $688K – $790K
3 Bedrooms 189 105 – 132 sq m 1,130 – 1,421 sq ft $790K – $915K
3 Bedroom Dual Key 20 116 – 144 sq m 1,249 – 1,550 sq ft TBA
4 Bedroom Compact 41 115 – 142 sq m 1,238 – 1,528 sq ft $895K – $985K
4 Bedrooms 21 127 – 160 sq m 1,367 – 1,722 sq ft $982K – $1.04M
Sky Suites 6 177 – 230 sq m 1,905 – 2,476 sq ft TBA
Penthouses 14 169 – 202 sq m 1,819 – 2,174 sq ft TBA

 

These work out to around $7xx PSF. Fast forward to 2024, and new executive condominiums are now selling at an average of $1,4xx PSF. Little wonder when the cheapest private condo launches now start at around $1,9xx to 2,0xx PSF upwards. Like the ones at Lentor Mansion in Lentor Hills Estate, or the Botany at Dairy Farm, or the Myst at Cashew estate. Or nearer at hand to Rainforest would be LakeGarden Residences and SORA, both in Jurong. Of these, the more attractive could be Lentor Mansion condo and the Myst, as these are at least within a short 5 to 6 minutes walk from an MRT station. Slightly nearer to a station than Rainforest actually. The Lentor Mansion prices are not known yet. Could perhaps start from around $1,9xx PSF up, like the Myst prices? Incidentally, the Myst is being built by CDL too, while the Lentor Mansion condo is being developed by TID as well, which is a JV of Hong Leong Group with Mitsui Fudosan. (Both CDL and TID are part of the Hong Leong Group.)

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Costs of Buying a unit at this CCK EC

Costs involved are:
. Purchase Price
. Stamp Duty = Purchase Price x 3% – $5,400
. Legal fees. Banks often subsidize legal fees as part of their project package, subject to terms.

No agent commission or fee payable. ECs are also NOT affected by Additional Buyers Stamp Duty.
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Sources of Funds

. Minimum 5% must be from your own cash. (10% if you currently have a housing loan.)
. CPF Housing Grant for first timers. See CPF Housing Grant table below for eligibility & amount.
. Your CPF funds in OA (Ordinary Account).
. Bank Loan. HDB does not give loans for ECs. See Financing below for maximum loan amounts, etc.
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CPF Housing Grant (Source: HDB)

Monthly Household Income CPF Housing Grant
SC/SC Household
CPF Housing Grant
SC/SPR Household
Half-Housing
Grant
Not more than $10,000 $30,000 $20,000 * $15,000
$10,001 to $11,000 $20,000 $10,000 * $10,000
$11,001 to $12,000 $10,000 $0 $5,000

* If you are from an SC/SPR household, you can enjoy the full housing subsidy by applying for the Citizen Top-Up when your SPR family takes up Singapore Citizenship or when you have an SC child.

Only first timers are eligible for this grant. For details & eligibility conditions, see HDB Website.
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Financing for The Rainforest CCK EC

Financing for executive condominiums are typically from banks or financial institutions as HDB does not loan for ECs.

Government regulations for loans are as follows:
. Maximum of 80% loan if you do NOT currently carry a property loan.
. Maximum of 60% loan if you currently do have an outstanding property loan.#

If you require financing, it is highly advisable to obtain an In-Principle Approval (IPA) letter in advance before selecting or booking a unit. It gives you assurance that you do indeed qualify for a loan, and ascertains the maximum loan you can get for so that you do not risk forfeiting any of your booking fee.

Contact us at The Rainforest EC for information on obtaining the IPA.

# For executive condominiums it may be possible to obtain 80% loan even if you currently have a housing loan. Contact us if you would like to be put in touch with bankers specializing in executive condos who can assist and advise you on this.
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Payment Schedule under Normal Payment Scheme

Payment terms & funding for the Rainforest EC for those taking 80% (if currently no property loan) vs those taking 60% loan (if currently have outstanding loan). CLICK TO ENLARGE.
The Rainforest EC :: Costs & Funding
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Payment Schedule under Deferred Payment Scheme

Payment terms for those taking 80% under Deferred Payment Scheme. Deferred Payment Scheme for this CCK EC is being considered. An EC unit typically costs 2 to 3% more under this option.

If allowed, it enables those who have an outstanding property loan to still take 80% bank loan for the new property purchase (subject to bank credit assessment & approval). CLICK TO ENLARGE.
The Rainforest CCK EC :: Deferred Payment Scheme
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If you have any questions on costs, financing or funding for this CCK EC, or if you need a copy of the Payment Schedule, just let us know through the The Rainforest EC form here.

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