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 2020, and new executive condominiums are now selling at an average of $1,1xx PSF. The only launches priced below $1,000 PSF appear to be cluster housing, such as Parkwood Collection and Nim Collection. In general, Parkwood Collection houses are selling at an average of $7xx PSF PSF, though there are some star buys starting at $6xx PSF, with floor areas of above 4000 sq ft.
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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.
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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.
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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.
