What’s Hundred Palms Residences MOP Date ?
Hundred Palms EC will have fulfilled its 5 year MOP period on 19 Dec 2024.
The EC will attain its semi privatisation status, all owners of Hundred Palms EC will be eligible to resell their units to Singapore citizens and Singapore PR. In addition to that, owners will be able to rent out the entire unit.
With another 5 more years, the EC will attain its full privatisation status and can be sold to foreigners as well.
Will the Hundred Palms EC further appreciate in value after its 10 year mark ?
You will typically see the steepest price appreciation after an EC’s 5 year MOP period.
Due to ECs being located mostly in the heartlands of Singapore, buyer demand mainly comes from Singapore Citizen and PRs. Hence, the impact of attaining its 10 year full privatisation status will not see a greater price appreciation than the first 5 year MOP milestone.
Previous Transaction for Hundred Palms residences Before MOP
These are owners that have written in to HDB for an appeal to sell their EC before its 5 year MOP period.
The latest transaction in 1 Dec 2023 see, owner of a 3 bedroom compact 883 sqft unit, on the 13th floor selling his unit for a $713k profit.
| Sold On | Address | Area (sqft) | Bedrooms | Sale Price (S$ psf) | Profit (S$) | Purchase Price (S$ psf) | Bought On | Days | Annualised (%) |
| 1 Dec 2023 | 268 Yio Chu Kang Road #13-XX | 883 | 3 | 1,677 | 713,800 | 868 | 22 Jul 2017 | 2,323 | 10.9 |
| 30 May 2023 | 270 Yio Chu Kang Road #13-XX | 883 | 3 | 1,584 | 631,800 | 868 | 22 Jul 2017 | 2,138 | 10.8 |
| 6 Dec 2022 | 276 Yio Chu Kang Road #08-XX | 958 | 3 | 1,420 | 548,700 | 847 | 22 Jul 2017 | 1,963 | 10.1 |
For latest updates Hundred Palms Residences transactions with full blk and unit number after the development passes its 5 year MOP timeline, drop us a whatsapp text. We will provide a list with the latest transactions.
Transaction for comparable development around the area
One thing that is top of mind for all EC owners as their units approaches its MOP status is to find out how much they can resell their property for.
To do that, we will need to have a gauge of what comparable condo developments around Hundred Palms Residences are selling their units for.
To establish a price band for estimating Hundred Palms’ EC selling price. We will establish comparison with its “upper bound” comparable condos, condos that are established as upper tier benchmark, “peer” comparable condos, condos that are considered direct parallel comparison to Hundred Palms and “lower bound”, condos that are considered as lower tier benchmark to Hundred Palms.
Upper Bound / Benchmark Development
| Project Name | Tenure | Completion | No of units | Avg Price (S$ psf) | Sales Vol |
| Forest Woods | 99 yrs FROM 2016 | 2020 | 519 | 1,950 | 13 |
Comparable / Peer Level Development
| Project Name | Tenure | Completion | No of units | Avg Price (S$ psf) | Sales Vol |
| AFFINITY AT SERANGOON | 99 yrs FROM 2018 | 2023 | 1,012 | 1,765 | 59 |
| THE GARDEN RESIDENCES | 99 yrs FROM 2017 | 2021 | 613 | 1,795 | 34 |
| THE FLORENCE RESIDENCES | 99 yrs FROM 2018 | 2023 | 1,410 | 1,767 | 82 |
Lower Bound Development
| Project Name | Tenure | Completion | No of units | Avg Price (S$ psf) | Sales Vol |
| KENSINGTON PARK CONDOMINIUM | 999 yrs FROM 1878 | 1990 | 310 | 1,656 | 4 |
| TERRASSE | 99 yrs FROM 2010 | 2014 | 414 | 1,385 | 17 |
Estimated Selling Psf for Hundred Palms EC
To establish a target selling price in terms of PSF for Hundred Palms EC, we will take direct reference from peer group comparable development Affinity at Serangoon and The Garden Residences.
We will use both these development’s latest historical transaction’s selling psf as benchmark to set our selling price for Hundred Palms EC.
Some samples of latest historical transaction for Affinity at Serangoon
| Date | Area(sqft) | Bedrooms | Price(S$ psf) | Price (S$) | Type of Sale | Address | Type of Area | Purchaser Address | Source |
| 23 Jul 2024 | 1,152 | 3 | 1,761 | 2,028,000 | Sub Sale | 24 Serangoon North Avenue 1 #08-XX | Strata | Private | URA |
| 8 Jul 2024 | 1,152 | 3 | 1,910 | 2,200,000 | Sub Sale | 20 Serangoon North Avenue 1 #12-XX | Strata | Private | URA |
| 5 Jul 2024 | 904 | 3 | 1,935 | 1,750,000 | Sub Sale | 28 Serangoon North Avenue 1 #13-XX | Strata | HDB | URA |
| 5 Jul 2024 | 850 | 3 | 1,738 | 1,478,000 | Sub Sale | 22 Serangoon North Avenue 1 #03-XX | Strata | Private | URA |
| 14 Jun 2024 | 904 | 3 | 1,847 | 1,670,000 | Sub Sale | 26 Serangoon North Avenue 1 #02-XX | Strata | Private | URA |
| 30 May 2024 | 1,076 | 3 | 1,881 | 2,025,000 | Sub Sale | 28 Serangoon North Avenue 1 #03-XX | Strata | Private | URA |
| 30 May 2024 | 904 | 3 | 1,913 | 1,730,000 | Sub Sale | 30 Serangoon North Avenue 1 #06-XX | Strata | HDB | URA |
Some samples of latest historical transaction for The Garden Residences
| Date | Area(sqft) | Bedrooms | Price(S$ psf) | Price (S$) | Type of Sale | Address | Type of Area | Purchaser Address | Source |
| 11 Jul 2024 | 797 | 3 | 1,921 | 1,530,000 | Resale | 9 Serangoon North View #05-XX | Strata | Private | URA |
| 2 Jul 2024 | 904 | 3 | 1,847 | 1,670,000 | Resale | 9 Serangoon North View #07-XX | Strata | Private | URA |
| 27 May 2024 | 872 | 3 | 1,615 | 1,408,000 | Resale | 3 Serangoon North View #02-XX | Strata | Private | URA |
| 23 Apr 2024 | 904 | 3 | 1,847 | 1,670,000 | Resale | 9 Serangoon North View #09-XX | Strata | HDB | URA |
| 19 Apr 2024 | 904 | 3 | 1,958 | 1,770,000 | Resale | 9 Serangoon North View #03-XX | Strata | Private | URA |
| 18 Apr 2024 | 904 | 3 | 1,958 | 1,770,000 | Resale | 9 Serangoon North View #14-XX | Strata | HDB | URA |
| 4 Apr 2024 | 872 | 3 | 1,778 | 1,550,000 | Resale | 9 Serangoon North View #01-XX | Strata | HDB | URA |
Estimating Selling PSF
In our view, based on the price benchmarks, it will be prudent and reasonable to set a selling price of between $1,750 psf to $1,800 psf.
Depending on your time frame to complete the sale of your unit, you will want to adjust your selling price within this price band to control the speed of selling your property.
| Development | Average selling PSF – Latest |
| Affinity at Serangoon – Benchmark | 1,824 |
| The Garden Residences – Benchmark | 1,859 |
| Hundred Palms EC – Estimate | 1,750 |
Potential profit
Based on the estimated selling psf established above. In this section, we set out to estimate the potential profit for different unit types in Hundred Palm Residences.
3 Bedroom Potential Profit by Unit Type
| Size (sqft) | First Owner’s Average Purchase PSF (2017 onwards) | Estimated Selling PSF | Estimated Profit |
| 883 | 857 | 1,750 | 788,154 |
| 969 | 857 | 1,750 | 864,917 |
| 1,066 | 857 | 1,750 | 951,498 |
| 1,130 | 857 | 1,750 | 1,008,623 |
| 1,227 | 857 | 1,750 | 1,095,204 |
4 Bedroom Potential Profit by Unit Type
| Size (sqft) | First Owner’s Average Purchase PSF (2017 onwards) | Estimated Selling PSF | Estimated Profit |
| 1,270 | 837 | 1,750 | 1,159,699 |
| 1,324 | 837 | 1,750 | 1,209,009 |
| 1,432 | 837 | 1,750 | 1,307,629 |
5 Bedroom Potential Profit by Unit Type
| Size (sqft) | First Owner’s Average Purchase PSF (2017 onwards) | Estimated Selling PSF | Estimated Profit |
| 1,528 | 827 | 1,750 | 1,409,835 |
| 1,636 | 827 | 1,750 | 1,509,483 |
Options commonly taken by EC owners after MOP
#1 – Decouple and purchase a second property
The option involves the selling or transferring of shares from one spouse to the another, eg. husband transferring his ownership in the property to his wife by way of sale.
This will allow you to free up the name of one spouse, the spouse can then purchase a second property without ABSD.
Suitable for
- Families that like to continue living in Hundred Palms due to children attending primary school nearby or for other lifestyle reasons.
- But would like to unlock capital gain in the current property to purchase a second investment property for rental income and capital gain.
- For Owners that see further potential price appreciation for Hundred Palms EC, potentially due to the launch of Serangoon North MRT in 2030.
Cost Involved
- Buyer stamp duty incurred on the sale of share between spouse
- Decoupling Lawyer Fee
Relevant Read
- Decoupling EC – Everything you need to know
- Decoupling Property Singapore – The Complete Guide 2024
- 5 Best property type to consider after decoupling
#2 – Selling unit and purchasing 2 new private condo
You would be looking to sell your unit in Hundred Palm EC at the best price possible to maximise capital gain. You will then harvest the capital gain and re-deploy it into 2 higher growth private condo, each held solely under each spouse’s name.
In the process, you get to realise profits in your current property and purchase a second property without ABSD.
Suitable for
- Owners that have made substantial capital gain in Hundred Palms EC, i,e. above 350k profit.
- Owners that are looking to upgrade their homestay property to a different area, while purchasing a second property at the same time
- Owners that are looking to purchase a new launch condo, while purchasing another resale condo for homestay
Cost Involved
- No additional cost except for the buyer stamp duty involved in purchase 2 new property
- Both spouses need to have a strong monthly income to qualify and support the mortgage for 2 properties.
Relevant Read
- The complete guide to “sell one buy two” property investment strategy
#3 – Selling unit upon MOP and upgrade to a larger condo
A simple and straightforward consideration for young families looking to upgrade to a bigger unit in a more central location for homestay.
The goal is twofold, selling the current unit at a good price, while selecting the right unit to upgrade into.
Ideally the next property should not only satisfy the lifestyle needs of the family but also provide future capital appreciation potential.
Suitable for
- Families looking to move closer to child school. Assuming you are not looking to enrol your child into Rosyth Primary.
- Families currently living in a 3 bedroom compact unit and is looking to a bigger unit with yard and storeroom.
- Owners that are looking to stick to one property but is still keen on profiting from capital appreciation.
Cost Involved
- No additional cost except for buyer stamp duty to be incurred for purchasing a bigger unit.
Relevant Read
#4 – Retaining unit and hold on for future price growth
This would be the status quo option, you will continue to hold on to your unit and await the next wave of price catalyst for future price appreciation.
There is not need to relent to the pressure to sell, for development that is relatively new like Hundred Palms, you can hold on and consider exiting in the future
Suitable for
- Owners that do not see a immediate reason to sell
- Owners that are looking to save up more in both cash and cpf before making any moves
Catalyst to look out for
- Launch of Serangoon North Mrt in 2030.
- Launch of Chuan Park and Toa Payoh new launches to set new benchmark prices for resale condo in the area.
Relevant Read
- What can I do after EC MOP ? – Everything you need to know
#5 – Selling unit and downgrading to a HDB
Many EC owners in their more defensive cycle of their property ownership and investing journey will make this move.
You will ride into the sunset with the profits you garnered from selling Hundred Palms and purchase a HDB for retirement or early retirement.
But note only owners age 55 and above can avoid the 15 months wait out period to buy a resale HDB.
Suitable for
- Owners that are planning for early retirement
- Owners that wants to minimise monthly mortgage payment
- Owners that are of older age and have challenge stretching loan tenure
Cost Involved
- Cost of renting for 15 months while waiting to fulfil HDB wait out period before being eligible for resale HDB purchase
