Former HUDC Estate in Potong Pasir soon up for collective sale

Following the successful collective sale of the former HUDC estate, Shunfuville, earlier this year, yet another such property could be coming into the market soon.

Raintree Gardens Potong PasirPhoto credit: Google Maps

In May this year, Shunfuville was sold for $638 million. Now, the 175-unit Raintree Gardens on Potong Pasir Avenue 1 which was privatised in July 2014, could also be hoping for similar results as they finally attain their minimum consent level. The 201,405 sq ft site just next to the Kallang River is projected to have an asking price of $430 million, which could mean a potential $1.8 million for each home-owner in the estate. Developers may be drawn to its proximity to the Potong Pasir MRT station and the future Bidadari HDB estate, which could mean a bustling area that could potentially attract new businesses and the development of other amenities as well.

poiz-img-001The number of new private condominiums in the Potong Pasir area have been growing steadily, and most have sold well as consumers respond well to the exclusivity and connectivity of the district. One of the most recent launches in the area was that of Poiz Residences. With the St. Andrew’s Village nearby, the site will also be near primary and secondary schools as well as a junior college. It will be an en bloc sale effort worth watching as developers weigh in. One of the considerations developers may have is the length of time between getting the site and being able to start redeveloping it as the procedure in between could take at least 6 months.

 

Jurong Lake District – New sparkling Gem of the West

In less than 2 decades, the landscape of Singapore’s west-side could be said to be almost completely transformed. From the largely industrial factory districts to far-flung housing estates and only a few schools, new shopping malls, transport hubs, commercial and office spaces, private residential homes and spanking new build-to-order (BTO) flats now dot the scene.

Juronglakedistrict

Photo credit: URA

Jurong, once a busy but secondary commercial district, has been slated for development as Singapore’s second central business district (CBD). Every large city is almost certain to have one secondary commercial hub, as big and functional as the town-centre CBD, but newer and with more space for development. Just thing of Shanghia’s Pudong or London’s Canary Wharf. The Urban Redevelopment Authority (URA) is looking to transform the Jurong Lake District into a eco-friendly, futuristic township with homes, offices, hotels and filled with greenery and waterways.

LakeGrandeWith the Kuala Lumpur-Singapore high speed rail in its midst and as the convergence point of a number of new and existing MRT lines, there seems to be quite a far breadth for value appreciation of residential and commercial properties in the Jurong Lake district.

With Punggol and Jurong both set to include many good, new things may be coming the country’s way in the next decade or two.

River Valley’s properties peak

Just off the city centre, with a quiet and exclusive environment and a variety of hip and happening eateries, retail and office housed in quaint heritage buildings nearby, River Valley has always been a property hotspot for expatriates and young professionals.

MartinPlaceResidencesSo it probably comes as no surprise that developers were quick to bid, fast and furiously, on a GLS (government land sales) site in its vicinity. With the highest bid coming from Guocoland at $595.1 million or $1, 239 psf for the Martin Place plot which is situated near the upcoming Great World MRT station and promises to yield as many as 450 homes, this could be one of the highest bids for a land plot, aside from those on Sentosa. In January this year, a Siglap road condominium site was sold for $624.2million but that could yield up to 900 units, twice the number of units the Martin Place plot is capped at.

Confidence was likely to have been boosted by strong sales from the recent Cairnhill Nine launch. The area is peppered with a wide variety of private properties, including shophouses, older resale condominiums, newer developments and upcoming residential projects. Demand continues to be strong as rental prices become more competitive. Sales volume has always been on the rise, with 86 units sold in May this year, compared to the 15 units monthly average in 2015. Developers’ response to this land sale could be a positive indication of market confidence in recovery.

 

Singapore’s property districts: Where do you belong?

Though small, Singapore’s 28 housing districts and 26 (and growing) HDB towns each have their own unique and distinct atmosphere. Each have their own history, good eats and exclusive hideouts or communal features. How do you choose which district or estate you belong to?

Grandeur8Many older estates such as Ang Mo Kio and Toa Payoh have their identity rooted in times preceding even World War II. These matures estates have well-established amenities and their transport options have grown over the years. Each will have their own MRT station and bus interchange providing inter-town and shuttle buses; schools, shopping mall, medical facilities such as polyclinics, sporting and recreation amenities as well as parks and libraries.

Some larger townships are built around a regional commercial hub, such as Woodlands and Jurong. Woodlands for example is laid out in a circular shape, with each part of the town connected to major highways and to the town centre. HDB flats and many private condominiums dot the estate and its proximity to the Causeway also makes it a prime leasing spot for Malaysians working in Singapore.

Queenstown HDB flatPhoto credit: HDB

And there are also Satellite towns, Queenstown being the first and Tampines joining its ranks later on. Queenstown was developed by the former Singapore Improvement Trust (SIT) in 1952 and was named after Queen Elizabeth II to mark her coronation. These towns, much like the other mature estates, are chock full of property-investment opportunities as buyers tend to look to these towns for leasing opportunities.

Outlying townships such as Punggol, Sengkang and Sembawang, previously considered remote and unpopular, are all coming into their own with Punggol leading the way into the 21st Century.

Thus, depending on your lifestyle preference, with the variety available within our small nation, there will always be a spot in Singapore which suits you.

It’s an EC world

Executive condominiums are some of the hottest properties on the buying public’s radar this year. These rare hybrid private-public homes straddle the 2 markets in the best way possible. While they begin their journey as public housing, thus allowing qualifying buyers to make use of government subsidies and loans to secure a usually cheaper-yet-comparable alternative to private condominium units, they graduate after 10 years to the private property market and their values more often that not appreciate considerably.

WandervaleECOne of the first ECs to be launched this year include Wandervale and The Visionaire. The Parc Life will soon be launched. Even though the nearby 1-327-unit Sol Acres EC might have been competing for buyers , 320 out of the 534-unit Wandervale EC in Choa Chu Kang has been sold.  Most of the units popular with HDB ugpraders and young families were the 4-bedders. 82 were sold in total. Prices averaged at $755 psf with a 3-bedroom apartment starting at $655,000 and the larger 4-bedders going for more than $896,000.  The Wandervale’s proximity to the Choa Chu Kang MRT station could have added to its popularity.

Besides The Parc Life, other EC launches in the works include Treasure Crest in Sengkang, Northwave in Woodlands and another in Choa Chu Kang.

Tiong Bahru Living it up

HighlineResidences2Without a doubt, most Singaporeans, expatriates and even visiting tourists will consider Tiong Bahru to be one of the hippest districts in town. Well, that makes almost everyone, really.

Tiong Bahru has achieved a world ranking in Vogue’s Global Street Style Report: 15 Coolest Neighbourhoods in the World, coming up 4th in the list, quite a feat for a little township in this small city-state. Designated a Heritage Conservation Area by the Urban Redevelopment Authority (URA), it is much-loved for its pre-war architecture, quaint boutiques, eateries and cafes, its eclectic mix of housing options and just a general air of debonair.

Besides the shophouses and first-born HDB flats (it was Singapore’s first public housing estate), new private apartments are also coming up in its midst, providing options for more to enjoy the enclave’s gently vibrant atmosphere.

HighlineResidences1One of these new-kids-on-the-block is the Highline Residences, a 500-unit condominium inspired by the High Line in New York City and designed by award-winning architect Mok Wei Wei of W architects, which offers a good mix of one- to 4-bedroom apartments as well as dual-key units and penthouses. Developed by Keppel Land, the property is located just 5-minute’s walk away from Tiong Bahru MRT station and just a few stops away from the Orchard road shopping belt and the Central Business District. The upcoming Havelock MRT station nearby will be completed by 2021 and will add more transport options to the already-well connected area.

As far as city-fringe bohemian living goes, Tiong Bahru’s residents will be living it up for awhile.

 

 

Upper Thomson – Foodie and Nature Haven

Upper Thomson is quickly coming into its own as the next foodie, nature and lifestyle haunt, especially with its connectivity heightened by the upcoming Thomson-East Coast MRT line. This leafy North-east suburb will soon be just a short train trip away from the town centre, the CBD and even the other ends of the island.

183 LonghausThe number of new condominiums, hip food and beverage outlets and educational centres springing up in its midst has made Upper Thomson a much sought-after area for property investment. Condominiums which have been or are being built at the moment include Thomson Grand, Adana Thomson, Thomson Impressions, Thomson Three, The Panorama and most recently – 183 Longhaus.

The latter is developed by TEE Land and is essentially a mixed-use concept which will fit in superbly with the nearby landed homes and indie businesses. Despite being a low-rise 4-storey project, it will feature 10 commercial units and 40 apartment units including 14 penthouse units ranging from 88 to 110 sq m. The amenities such as banking facilities and the Thomson Community Club, and transport options such as bus stops and the circle and Thomson-East Coast line MRT stations nearby are big pluses; not to mention the MacRithchie and Lower and Upper Pierce reservoirs are just round the corner.

Adana CondoDespite the temporary inconvenience residents of Upper Thomson might have to endure as major road and tunnelling works are underway, the future for this suburban district looks bright.

Buangkok – The forgotten gem

When the Buangkok name is mentioned, many may remember the time when its namesake MRT station was in the news for being underused; some may still only think of it faintly as the backyard of other more mature townships such as Ang Mo Kio and Hougang. But Buangkok has since come into its own with connectivity on the North-east MRT line and as Sengkang and Punggol continues to grow.

The 616-unit Jewel @ Buangkok private condominium has taken root at this tranquil spot on the island and is just a 3-minute walk away from the Buangkok MRT station.

DnestSituated in between the Eastern and the Northern regions, it is just a short drive away on the Tampines Expressway (TPE) and Kallang-Paya Lebar Expresseway (KPE) from the Changi Business Park, planned Paya Lebar Business Hub and the Singapore EXPO. This makes the property a prime sweet spot for not only home-occupiers but also investors.

95 per cent of the property has been sold and its range of 3-bedders, dual key 4-bedders and penthouses will come into the private market this year. Most of the units boast a north-south orientation thus cutting out sun glare, and also come with smart storage systems and premium home interiors. Another similar property nearby with a 95 percent sales record is the d’Nest condominium which is expected to receive its TOP (temporary occupation permit) status next year.