Demand for well-located properties remain high

Properties near MRT stations often bring in the buying crowds. And there will be 2 such properties to look forward to in the first half of 2017.

GrandeurParkResidencesThe first is the 720-unit Grandeur Park Residences which is expected to launch in March, near the Tanah Merah MRT station. It’s proximity to transport, the inclusion of a childcare centre and 2 shop units is expected to add value to project. 1- to 5-bedroom units here will range between 420 sq ft and 1,450 sq ft in size. And if prices at the neighbouring The Glades are anything to go by, the units at Grandeur Park Residences may be priced between $1,300 to $1,400 psft.

Situated near East Coast Park and the upcoming Siglap MRT station, is the 843-unit Seascape Residences. With sea views and as one of the first private condominium projects to come up in the area in the last decade and a half, this new project along the coastline may make quite the splash on its launch. Prices are expected to hover between $1,550 to $1,650 psf.

SeasideResidencesDespite a weak economy and the property cooling measures, demand for new homes remain resilient and while buyers may be more selective with their purchases, properties which are well-located and offer competitive pricing will still sell. Interest rates remain a uncertain factor impacting market sentiments however, as sudden spikes may affect demand.

Launches of new projects can often boost sales of new homes across the board and this first quarter could very well already set the tone for the rest of the year.

Plans for 6,000 new HDB units along East Coast Park

The new private condominium, Seaside Residences, and her sea views may have competition yet from the public housing sector in the form of new Build-to-order (BTO) flats along East Coast Park.

MarineParadeHDBflatThe authorities are looking at building 6,000 new BTO flats in the Bayshore district. The last public housing flats to be built here were in the 1970s – the current ones in Marine Parade which are wildly popular in the resale market likely for its proximity to many schools and the city centre, the sea views and the many transport options and amenities offered by this mature estate. With the upcoming Thomson-East Coast Line, properties in the area may become even more in demand with property buyers and investors. Resale HDB flats in Marine Parade have been known to fetch up to $900,000 in recent months.

In a 60 hectare plot bounded by Bayshore Road, East Coast Parkway, Bedok camp and Upper East Coast road, the Urban Redevelopment Authority (URA) has called for master plan pitches for the Bayshore district which will also include land area put aside for 6,500 private homes. The authorities are looking at developing the area into a residential, car-lite district. There has been concerns raised about the influx of population which might put a strain on transport networks, amenities and the Changi General Hospital in Simei. The future 12,500 new homes may possibly change the idyllic atmosphere this area is specifically known for.

New Siglap condominium to offer sea views

Fancy residing by the sea? The residential condominium development with just that specification in its name – Seaside Residence – will be launched by end April, likely to the cheers of many happy sun-and-sea seekers.

SeasideResidencesPhoto credit: www.officialseasideresidences.com

The new 843-unit private residential project developed by Frasers Centrepoint Singapore is lauded as one of the first seaside developments along East Coast Park (ECP) to be launched in 15 years. Situated next to Victoria School, the land site was first put on sale in 2001 and finally sold to a consortium helmed by Frasers to the tune of $624.18 million last January.

Boasting sea views for at least 70 per cent of its units, Seaside Residence will have 4 residential blocks, each 27-storey tall, consisting of one- to five-bedroom apartments and penthouses ranging between 424 sq ft and 2,690 sq ft in size. It will also be situated close to the upcoming Siglap MRT station on the Thomson-East Coast line and prices are expected to start from $1,550 to $1,650 psf. Comparatively, average prices of units at Marine Blue and Amber Skye currently stand at $1,700 to $1,800 psf.

Marine BlueThe East Coast area has always been popular real estate with expatriates as well as young professionals and families. The cluster of schools in the area, this heritage-soaked district and its laid-back style have always been what drew buyers and investors to this region. As a mature estate, demand for new units have always been much welcomed, as seen by sales of Gem Residences in Toa Payoh.

With the sea views, an 115-metre long infinity pool and sky terrace, this launch looks like it will certainly be more than a drop in the ocean come April.