The Palette, located at Pasir Ris Grove in District 18, is a 99-year leasehold condominium developed by Hong Realty (Private) Pte Ltd. It comprises 892 residential units across 12 blocks of 12 and 14 storeys. Convenience is one of its selling points as this property is walking distance to the Pasir Ris Central where the train station and malls are. Let’s find out more about this development.
4 Reasons Why The Palette Is an Ideal Home:
- 1. Specifications and Perks for Own Stay
- 2. Accessibility, Amenities, and Recreational Spots
- 3. Education, Employment, and Healthcare
- 4. Property Price and Future Developments
- Best Mortgage Rate Across All Banks for The Palette
- Buyer's Stamp Duty for The Palette
- Additional Buyer's Stamp Duty for The Palette
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) |
|---|---|---|---|---|---|
| The Palette | 99-year leasehold | 2015 | 1-bedroom 2-bedroom 3-bedroom 4-bedroom 5-bedroom | 506 893 1,292 2,217 2,562 | $1,261 |
The Palette has a wide array of facilities for you and your family. If you believe that food bonds people closer, good news! There are barbeque pits for you to host a gathering. Get fit and active with different activities. Swim in the 50m infinity pool and work out at the aqua gym. Your kids can join in the fun at the kids pool, splash pool, and water play wet deck. Cardio-focused exercises can be done in the indoor gymnasium, outdoor fitness station, or play tennis at the designated courts. There’s even a golf simulator and skating rink! At the end of a long day, you can relax in multiple spots such as the spa pod and hammocks.
2. Accessibility, Amenities, and Recreational Spots
Getting to Pasir Ris MRT Station on the East-West Line (EWL) is easy; being 350m away, it’s just a 10-minute walk. The Palette is connected to major roads and expressways, so you can reach any place in the city easily. It would take you about 26 minutes’ drive or less via the Pan Island Expressway (PIE) to reach the Central Business District (CBD) and Orchard Road.
Need to shop for groceries and basic necessities? White Sands (850m), NTUC Downtown East (1.3km), and Elias Mall (1.6km) are the closest malls. You can spend fun-filled family days at Pasir Ris Park and Beach. NTUC Downtown East also has recreational options besides retail outlets, such as chalets, a theme 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.
3. Education, Employment, and Healthcare
If you’re looking for a school for your children, there are plenty within the vicinity. From local schools to international ones, parents need not worry. Schools nearby are: Elias Park Primary School (600m), Meridian Secondary School (1.2km), Park View Primary School (1.3km), and Hai Sing Catholic (1.5m). For expat families, there are three international schools within a short drive: UWC South East Asia East Campus (nine minutes), Overseas Family School (10 minutes), and Middleton International School @ Tampines (15 minutes).
If you’re seeking medical help, there are 12 clinics in Pasir Ris. The nearest hospitals are Changi General Hospital and St. Andrew’s Community Hospital, a 15-minutes drive from Pasir Ris Central. Future developments include the expansion of industrial areas such as Pasir Ris Wafer Fab Park, resulting in more jobs closer to home. The area will also have a new healthcare institution: a new polyclinic in Pasir Ris Town Centre.
4. Property Price and Future Developments
The price of The Palette’s three-bedroom unit (1,066 sqft), mid-level floor in the past three years:
- January to December 2017 – up to $985,000
- January to December 2019 – up to $1,050,000
Since 2017, property prices at The Palette 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.
Are you fascinated by The Palette’s attributes? Talk to our real estate consultants and get VIP agent service. Call 6886 9009 now!
Best Mortgage Rate Across All Banks for The Palette
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 The Palette
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 The Palette the price is at $1,050,000 which is reflective of the market value, your Buyer’s Stamp Duty (BSD) is $26,600.
| 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 $50,000 | 4% | $2,000 |
| BSD Payable | $26,600 | |
Source: IRAS
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Additional Buyer’s Stamp Duty for The Palette
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 The Palette
Here’s the ABSD amount you are required to pay if you are an SC:
| Property Ownership | ABSD Rate | ABSD Amount from Price $1,050,000 |
|---|---|---|
| If The Palette is your second residential property | 12% | $126,000 |
| If The Palette is your third or subsequent residential property | 15% | $157,500 |
ABSD for Singapore Permanent Resident when Buying The Palette
Here’s the ABSD amount you are required to pay if you are an SPR:
| Property Ownership | ABSD Rate | ABSD Amount from Price $1,050,000 |
|---|---|---|
| If The Palette is your first property | 5% | $52,500 |
| If The Palette is your second or subsequent residential property | 15% | $157,500 |
ABSD for Foreigners when Buying The Palette
Here’s the ABSD amount you are required to pay if you are a foreigner:
| Property Ownership | ABSD Rate | ABSD Amount from Price $1,050,000 |
|---|---|---|
| Foreigners buying any property | 20% | $210,000 |
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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