If you’re looking for a home in the North-East Region of Singapore, Kovan Melody may be the home for you. This 99-year leasehold development located at 13 Kovan Road, is situated in District 19 Hougang, a neighbourhood town that is located reasonably close to the central area.You can get to City Hall in less than 20 minutes by train! Outstanding convenience aside, let’s find out what else this 17-storey condominium by Winhome Investment Pte Ltd has to offer.
4 Reasons Why Kovan Melody Is an Ideal Family Home:
1. Specifications and Perks for Own Stay
| Project Name | Tenure | TOP | Unit Type (up to) | Size in sqft (up to) | Average Price PSF (up to) |
|---|---|---|---|---|---|
| Kovan Melody | 99-year leasehold | 2015 | 2-bedroom 3-bedroom 4-bedroom | 1,281 1,292 1,894 | $1,134 |
This 778-unit condominium has boasts spacious layouts as compared to others – the largest two-bedroom unit measures 1,281sqft, which makes it very comfortable for a couple. If you compare this with the closest property nearby, Kovan Residences, their two-bedroom unit is smaller, at 1,023sqft. Whether you’re a bachelor or family with children, there’s definitely an apartment that’s able to cater to any buyer type.
Kovan Melody is equipped with facilities such as a fitness corner, gymnasium, lap pool and tennis courts will keep you in the pink of health. Relax and go for a dip or swim in the jacuzzi, spa pool and steam bath. There’s even a wading pool for your kids to have fun in the water. You’re all set to host occasional parties (or frequent ones if you’re quite the host) at an array of spots such as the barbeque area, clubhouse or multi-purpose hall.
2. Accessibility and Amenities
What’s one of the best things about living here? This development is situated 300m away from Kovan MRT Station along the North-East Line. Going there by foot takes about four minutes. Traveling to town and the Central Business District areas will take less than 27 minutes. If you’re driving, there are nearby major expressways like CTE, PIE and TPE making it convenient to access other parts of Singapore.
Looking for places to dine and shop? There’s an array of amenities close to Kovan Melody, from shopping malls (Hougang Mall, Heartland Mall, Hougang 1, MyVillage Mall and NEX Shopping Mall) to food establishments (Kovan 209 Food Centre, Teck Chye Food Street, Hougang Hainanese Village Centre, Chomp Chomp Food Centre). There are so many options for you to choose from!
3. Schools, Healthcare and Recreational Spots
You’ll never have to worry about finding an educational institution for your child here as there are over 20 childcare centres, primary and secondary schools within the vicinity such as My First Skool, Holy Innocents’ Primary School, Rosyth School, Xinmin Secondary School and more. There are international schools in the area too, such as Hillside World Academy and Dimensions Internal College.
If you ever need medical help, Bright Vision Hospital, Sengkang General and Community Hospital and Tan Tock Seng Hospital will cater to the needs of North-East residents conveniently as they are a 7-minute, 14-minute and 15-minute drive away from Kovan Melody.
Staying indoors all the time can be quite mundane. Why not enjoy the outdoors with your family? The closest park connector is Serangoon Park Connector (2.1km away) where you can access Punggol Park via a footbridge across Sg Pinang.
4. Property Price and Future Developments
The price of Kovan Melody three-bedroom unit of 1,292sqft in the past three years:
- January to December 2017 – up to $1,460,000
- January to December 2018 – up to $1,500,000
- January to December 2019 – up to $1,530,000
Since 2017, the property price at Kovan Melody has been increasing. With the slew of upcoming developments, the price will most likely continue to rise over the years. A number of new community amenities and improved public transportation such as the Thomson-East Coast Line (TEL) and Cross Island Line (CRL) are in the works.
Park connectors and cycling networks will be expanding over the next 10 to 15 years and there will be more recreational places with various water activities such as Punggol Regional Sport Centre, SAFRA Punggol and Anchorvale Community Club. This was unveiled in the draft master plan 2019 by the URA.
Does this sound like a perfect family home? Talk to our real estate consultants and get VIP agent service. Call 6886 9009 now!
Best Mortgage Rate Across All Banks for Kovan Melody
Talk to our mortgage brokers with over 30 years of experience and get the lowest mortgage rate at 1.78%. Our home loan specialists will assist you with everything you need to know from Total Debt Servicing Ratio (TDSR), Loan to Value (LTV) Limits and Legal Conveyancing.
Buyer’s Stamp Duty for Kovan Melody
Buyer’s Stamp Duty (BSD) is tax paid on documents signed when you buy or acquire property located in Singapore.
If you opt to buy a three-bedroom unit at Kovan Melody the price is at $1,350,000 which is reflective of the market value, your Buyer’s Stamp Duty (BSD) is $38,600.
| Market Value of the Property | BSD Rate | Calculation |
|---|---|---|
| On the first $180k | 1% | $1,800 |
| On the second $180k | 2% | $3,600 |
| Next $640,000 | 3% | $19,200 |
| Remaining $350,000 | 4% | $14,000 |
| BSD Payable | $38,600 | |
Source: IRAS
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Additional Buyer’s Stamp Duty for Kovan Melody
Liable property buyers in Singapore are required to pay Additional Buyer’s Stamp Duty (ABSD) on top of the existing BSD. ABSD and BSD are computed on the purchase price as stated in the dutiable document or the market value of the property (whichever is the higher amount).
Who is liable to pay ABSD:
- Singapore Citizen (SC) buying second, third and subsequent residential property
- Singapore Permanent Resident (SPR) buying first, second and subsequent residential property
- Foreigners or entities buying any residential property
ABSD for Singapore Citizens when Buying Kovan Melody
Here’s the ABSD amount you are required to pay if you are an SC:
| Property Ownership | ABSD Rate | ABSD Amount from Price $1,350,000 |
|---|---|---|
| If Kovan Melody is your second residential property | 12% | $162,000 |
| If Kovan Melody is your third or subsequent residential property | 15% | $202,500 |
ABSD for Singapore Permanent Resident when Buying Kovan Melody
Here’s the ABSD amount you are required to pay if you are an SPR:
| Property Ownership | ABSD Rate | ABSD Amount from Price $1,350,000 |
|---|---|---|
| If Kovan Melody is your first property | 5% | $67,500 |
| If Kovan Melody is your second or subsequent residential property | 15% | $202,500 |
ABSD for Foreigners when Buying Kovan Melody
Here’s the ABSD amount you are required to pay if you are a foreigner:
| Property Ownership | ABSD Rate | ABSD Amount from Price $1,350,000 |
|---|---|---|
| Foreigners buying any property | 20% | $270,000 |
VIP Service for Buyers at $0 Agent Fees
Our real estate consultants will provide you insights about this new project and assist you with everything you need to know from BSD, ABSD, exercising the OTP to sealing the deal.
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