Coco Palms, located at Pasir Ris Grove in District 18, is a 99-year leasehold condominium developed by the well known City Developments Limited (CDL). It comprises 944 residential units across 12 towers (12 and 16 storeys). It offers a wide range of units; one-bedroom apartments all the way up to five-bedroom apartments and penthouses, including dual-key apartments. Let’s find out more about this property.
4 Reasons Why Coco Palms Is an Ideal Home:
1. Specifications and Perks for Own Stay
| Project Name | Tenure | TOP | Unit Type (up to) | Size in sqft | Average Price PSF (up to) |
|---|---|---|---|---|---|
| Coco Palms | 99-year leasehold | 2019 | 1-bedroom 2-bedroom 3-bedroom 4-bedroom 5-bedroom |
624 753 1,195 2,325 3,111 |
$1,231 |
Coco Palms gets architectural inspiration from some of the world’s most exclusive resorts in the Maldives, Caribbean, and Fiji. This charming development is designed with comfort and sustainability in mind. Smart storage is built into the floors and bay windows, allowing residents to maximize their living area. Plus, this development has achieved the BCA Green Mark Gold PLUS Award.
Sticking to the resort-theme, Coco Palms has a myriad of water features and facilities such as a grand lagoon, salt water pool, hydrotherapy pool with massage jets, 50m lap pool, and play pool. The 3-storey clubhouse, Club Cocomo, has capacious function halls and activity spaces for you to host memorable events. Other facilities include barbeque pits, fitness corner, games room, gymnasium, jogging track, tennis courts, and more. The development also features six units set aside for shops.
2. Accessibility, Amenities, and Recreational Spots
The nearest train station is Pasir Ris MRT Station on the East West Line (EWL), which is an eight-minute walk away. If you have a car, take Tampines Expressway for a 23-minute drive to the Central Business District (CBD), and a couple of minutes less to reach Orchard Road.
You can grab your basic necessities from nearby shopping centres like White Sands and Elias Mall. Other malls and recreation areas nearby include Loyang Point, Pasir Ris West Plaza, Pasir Ris Park and Beach, and Wild Wild Wet. NTUC Downtown East offers even more recreational options such as chalets, theme parks, a 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
Do you have young children? There are several educational options within a 500m radius, including a childcare centre, two kindergartens, and a primary school – Elias Park Primary School (225m). Other nearby schools include Park View Primary School, Hai Sing Catholic School, United World College Of South East Asia (East), One World International School, and NPS International School.
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-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 polyclinic in Pasir Ris Town Centre.
4. Property Price and Future Developments
The price of a three-bedroom apartment (1,270 sqft) on Coco Palms’ high-level floor in the past three years:
- January to December 2017 – up to $1,384,400
- January to December 2019 – up to $1,510,000
Since 2017, property rental prices at Coco Palms have been increasing. We can foresee the price rising over the years, thanks to upcoming developments like improved connectivity, new amenities, community spaces, industrial hubs, and recreational facilities.
Is Coco Palms the home you’ve been dreaming of? Talk to our real estate consultants and get VIP agent service.
Best Mortgage Rate Across All Banks for Coco Palms
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 Coco Palms
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 Coco Palms the price is at $1,510,000 which is reflective of the market value, your Buyer’s Stamp Duty (BSD) is $45,000.
| 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 $510,000 | 4% | $20,400 |
| BSD Payable | $45,000 | |
Source: IRAS
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Additional Buyer’s Stamp Duty for Coco Palms
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 Coco Palms
Here’s the ABSD amount you are required to pay if you are an SC:
| Property Ownership | ABSD Rate | ABSD Amount from Price $1,510,000 |
|---|---|---|
| If Coco Palms is your second residential property | 12% | $181,200 |
| If Coco Palms is your third or subsequent residential property | 15% | $226,500 |
ABSD for Singapore Permanent Resident when Buying Coco Palms
Here’s the ABSD amount you are required to pay if you are an SPR:
| Property Ownership | ABSD Rate | ABSD Amount from Price $1,510,000 |
|---|---|---|
| If Coco Palms is your first property | 5% | $75,500 |
| If Coco Palms is your second or subsequent residential property | 15% | $226,500 |
ABSD for Foreigners when Buying Coco Palms
Here’s the ABSD amount you are required to pay if you are a foreigner:
| Property Ownership | ABSD Rate | ABSD Amount from Price $1,510,000 |
|---|---|---|
| Foreigners buying any property | 20% | $302,000 |
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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