Ever since the announcements of redevelopment plans for the Tanglin Halt HDB estate, prices of resale flats in the area have been heating up. And a good many flat owners are taking the chance to put their unit up for sale. There are about 30 units available on online property websites alone.
What did the announcements say? That the flat owners of the current units will be offered brand new flats in Dawson estate in Queenstown under the SERS (selective en bloc redevelopment) scheme. And since most property owners are aware of the popularity of Queenstown’s resale flats, the SERs scheme is the best way to secure a flat in the area. But first, you need to own a flat in Tanglin Halt. Hence the rise in interest of resale flats in the area. In Q2, the median price of a three-room resale HDB flat in Queenstown was $357,000.
Though most of the existing units in Tanglin Halt are two- and three-room flats, the replacement flats which will be provided by HDB will be four- and five-room ones. Although the authorities have placed a one-month freeze period for resale applications to allow owners to consider their options, the restriction has since been lifted and applications can now be submitted till 31 Aug 2015.
There are long-time residents who do wish to still hold on to their flats as long as possible, for memory, familiarity and convenience sake. And after all, they will receive a prime unit when the time comes for the move.