NV Residences, situated along Pasir Ris Grove in District 18, is a 99-year leasehold condominium developed by Hong Realty (Private) Limited. It comprises a total of 642 residential units. Besides being relatively close to the train station, this property offers other perks for its residents. Let’s find out more about it.
Contents:
4 Reasons Why NV Residences Is an Ideal 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) |
|---|---|---|---|---|---|
| NV Residences | 99-year leasehold | 2013 | 1-bedroom 2-bedroom 2-bedroom + Study 3-bedroom 3-bedroom + Study 4-bedroom Penthouses | 657 936 1,066 1,250 1,464 1,658 2,497 | $1,192 |
NV Residences caters to all buyer types, from one-bedroom apartments to penthouses; there’s definitely a perfect home for everyone. You and your family can look forward to fun-filled days ahead with the excellent facilities available for residents. Entertain your guests at the property’s barbeque corner and clubhouse with function rooms. Stay fit with workouts at the lap pool, aqua gym, gym club, outdoor fitness station, and tennis court. Your kids can join in the active lifestyle too at the children’s pool, playground, and shadow playhouse.
2. Accessibility, Amenities, and Recreational Spots
The nearest train station is Pasir Ris MRT Station on the East West Line (EWL), which is a 10-minute walk away. Vue 8 Residence is accessible via Tampines Expressway (TPE). It would take you about 23 minutes to drive to the Central Business District (CBD) and 21 minutes to Orchard Road.
Thinking of where to dine and shop? You can reach White Sands in 10 minutes by foot too, as it is beside the train station. Other nearby malls like Elias Mall, NTUC Downtown East, and Pasir Ris West Plaza are just a short drive away.
Downtown East also has recreational options such as chalets, a water park (Wild Wild Wet!), bowling alley, and a pet-friendly park. There’s also a sports and recreation centre with a swimming pool, sports hall (mainly for badminton), street soccer court, and a gym. If you prefer the outdoors, you can spend quality family time at Pasir Ris Park and Beach.
3. Education, Employment, and Healthcare
NV Residences is close to many schools and colleges. From local schools to international ones, parents need not worry. Schools within walking distance include Elias Park Primary School (500m), Park View Primary School (1.2km), and Meridian Secondary School (1.3km). Other schools within the vicinity are: Hai Sing Catholic, Meridian Primary School, Overseas Family School, UWC South East Asia East Campus, and Middleton International School @ Tampines.
Employment opportunities abound at Tampines Central (10-minute drive), Changi Business Park (10-minute drive), and Pasir Ris Wafer Fab Park (six-minute drive) which is going through an expansion. These developments will create more jobs closer to home and an increase in potential tenants. The area will also have a new polyclinic soon in Pasir Ris Town Centre.
Need to see a doctor? There are 12 clinics in Pasir Ris. The nearest hospitals are Changi General Hospital and St. Andrew’s Community Hospital, a 15-minute drive from the property.
4. Property Price and Future Developments
The price of NV Residences’s three-bedroom unit (1,227 sqft) high-level floor, in the past two years:
- January to December 2018 – up to $1,100,000
- January to December 2019 – up to $1,155,000
Since 2018, property rental prices at NV Residences have been increasing. We can foresee the price rising over the years, thanks to upcoming developments like new amenities, community spaces, improved connectivity, industrial hubs, and recreational facilities.
Is NV Residences the home you’ve been dreaming of? Talk to our real estate consultants and get VIP agent service. Call 6886 9009 now!
Best Mortgage Rate Across All Banks for NV Residences
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 NV Residences
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 NV Residences the price is at $1,155,000 which is reflective of the market value, your Buyer’s Stamp Duty (BSD) is $30,800.
| 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 $155,000 | 4% | $6,200 |
| BSD Payable | $30,800 | |
Source: IRAS
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Additional Buyer’s Stamp Duty for NV Residences
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 NV Residences
Here’s the ABSD amount you are required to pay if you are an SC:
| Property Ownership | ABSD Rate | ABSD Amount from Price $1,155,000 |
|---|---|---|
| If NV Residences is your second residential property | 12% | $138,600 |
| If NV Residences is your third or subsequent residential property | 15% | $173,250 |
ABSD for Singapore Permanent Resident when Buying NV Residences
Here’s the ABSD amount you are required to pay if you are an SPR:
| Property Ownership | ABSD Rate | ABSD Amount from Price $1,155,000 |
|---|---|---|
| If NV Residences is your first property | 5% | $57,750 |
| If NV Residences is your second or subsequent residential property | 15% | $173,250 |
ABSD for Foreigners when Buying NV Residences
Here’s the ABSD amount you are required to pay if you are a foreigner:
| Property Ownership | ABSD Rate | ABSD Amount from Price $1,155,000 |
|---|---|---|
| Foreigners buying any property | 20% | $231,000 |
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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