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Affinity At Serangoon Open For Preview This Weekend

Posted by Singapore Property Launch on 26th May 2018 in Blog
Affinity at Serangoon crop

Artist’s impression of Affinity at Serangoon, a new 1,052-unit condominium located on the former Serangoon Ville HUDC estate.

Affinity at Serangoon, a 1,052-unit residential project with five retail shops at Serangoon North Avenue 1, will open for preview this Saturday (26 May).

The 99-year leasehold project is one of two new condominiums in the Serangoon area (District 19) that are vying for buyer’s attention, the other being The Garden Residences which opened for preview last Saturday.

Both developments will add more than 1,600 units to the area, which has seen few new condominiums launched in recent years.

Affinity at Serangoon is the larger of the two projects. There will be 1,012 one- to four-bedroom apartments from 463 sq ft to 1,453 sq ft and 40 strata landed townhouses.

The sprawling 296,193 sq ft site was formerly the Serangoon Ville HUDC estate, which was sold en bloc to an Oxley Holdings-led consortium for $499 million in July last year. The purchase price works out to a land rate of $835 psf per plot ratio.

The project’s price range has not been revealed yet, but property agents anticipate selling prices to be around $1,600 psf to $1,700 psf.

Affinity at Serangoon will have 88 facilities including a floating boardwalk, firefly path and a luminescent plankton cove.

Nearby amenities include Chomp Chomp Food Centre, Serangoon Garden Market and Nex shopping mall. There are also several schools in the vicinity such as Rosyth School, Nanyang Junior College and the French School.

Slated to be officially launched next month, the project is expected to be completed by 2024.

Incidentally, the developing District 19 emerged as one of the most preferred districts to live in, according to PropertyGuru’s latest sentiment survey.

credits: propertyguru

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HDB Launches 6,992 Flats In May

Posted by Singapore Property Launch on 24th May 2018 in Blog
Kim Keat Beacon CROP

Artist’s impression of the Kim Keat Beacon BTO project in Toa Payoh. (Photo: HDB)

The Housing and Development Board (HDB) launched 6,992 flats for sale on Tuesday (22 May) under its May exercise.

This comprises 3,970 Build-To-Order (BTO) and 3,022 balance flats.

The BTO flats are spread across four projects in Sengkang, Yishun, Toa Payoh and Tampines. A range of 2-room Flexi to 3Gen flats are being offered.

“Toa Payoh is expected to be the most popular (estate) due to its mature location and the small number of units (542) available for application,” said Eugene Lim, key executive officer of ERA Realty.

“The Sengkang flats are also expected to be popular among applicants as they are near to Seletar Mall and Fernvale LRT station, and are attractively priced from $279,000 (excluding grants) for a 4-room flat,” he added.

Excluding housing grants, prices range from $76,000 for a 2-room Flexi at Casa Spring @ Yishun to $422,000 for a 5-room flat in Tampines GreenVines.

Eligible buyers can apply for housing grants of up to $80,000. With these grants, buyers could pay as little as $4,000 for a 2-room Flexi flat on a shorter lease.

Table 1: May 2018 BTO Prices

May 2018 BTO prices

Source: HDB

HDB also said several measures announced at the Ministry of National Development’s Committee of Supply debate this year will take effect from today.

These include the deferment of income assessment to help young couples buy their first homes sooner, and the revised proximity condition of 4km to help Singaporeans buy a flat closer to their parents or children.  

Interested applicants can submit their applications online on the HDB website from today till next Monday (28 May).

The next BTO launch will be in August, which will see about 4,300 flats in Punggol and Yishun offered for sale.

credits: propertyguru

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70 Units At Le Quest Sold On First Day Of Phase 2 Sales

Posted by Singapore Property Launch on 22nd May 2018 in Blog
Buyers at Le Quest crop

Buyers queuing to select their units at the Phase 2 launch of Le Quest on Saturday. (Photo: Qingjian Realty)

Le Quest, a mixed-use development by Qingjian Realty in Bukit Batok, saw 70 units sold during the first day of Phase 2 sales on Saturday (19 May).

The developer released 115 units for sale just a week after the showflat reopened for the Phase 2 preview.

“The enthusiastic response we saw in Phase 1 has continued this weekend. We should sell about 80 units by the end of this weekend,” said Qingjian Realty deputy general manager Yen Chong.

She noted that the company is “not in a hurry to release the rest of the units despite other new launches expected across the island the rest of this year”.

“With an average psf price of $1,380, buyers can get a four-bedroom unit from $1.8 million. So there will still be a steady demand.”

The 516-unit project comprises one- to four-bedroom units from 431 sq ft to 1,528 sq ft, as well as a supermarket, childcare centre, retail shops and F&B outlets.

Priced from $703,000, the one- and two-bedders were the most popular among first-time buyers who were drawn to the project’s location.

Alan Cheong, senior director of research and consultancy at Savills Singapore, noted that while prices of the units were slightly higher than those offered during the initial launch last year, the project remained “one of the most competitive among the recent launches”.

Le Quest is a short distance from the future Tengah Park MRT station on the Jurong Region Line, and is also close to the upcoming Jurong Lake District, which is slated to become Singapore’s second Central Business District.

The 99-year leasehold project is expected to be completed by end 2021.

credits: propertyguru

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Two New Condos Open For Preview

Posted by Singapore Property Launch on 20th May 2018 in Blog
Margaret Ville crop

Artist’s impression of Margaret Ville, a new 99-year leasehold project in Margaret Drive. (Photo: MCL Land)

Two new private condominiums will open for preview today (19 May) amid a bullish property market.

The Garden Residences at Serangoon North View is being jointly developed by Keppel Land and Wing Tai Asia, while Margaret Ville in Margaret Drive is by MCL Land. Both are 99-year leasehold projects that are slated to launch in June.

Comprising 613 units, The Garden Residences is a nature-inspired development that will contain more than 100 species of plants.

Wing Tai Asia’s senior general manager of marketing, Stacey Ow Yeong, said “residents will have the best of nature and technology at their doorstep”.

There will be a range of one- to five-bedroom apartments from 452 sq ft to 1,981 sq ft spread across five 15-storey towers.

Property agents said indicative prices are in the range of $1,750 psf to $1,850 psf.

The developers submitted the top bid of $446.28 million or $965 psf per plot ratio (psf ppr) for the approximately 185,022 sq ft site last year, which saw aggressive bidding due to its proximity to Bidadari estate.

Nearby amenities include eateries at Serangoon Garden estate, Nex shopping mall, and several schools such as Rosyth School and Nanyang Junior College.

Meanwhile, Margaret Ville comprises one 40-storey tower of 309 one- to four-bedroom apartments from 463 sq ft to 1,184 sq ft. Around 62 percent of the units are one- and two-bedders.

The project will likely have an average price of about $2,000 psf.

The 51,722 sq ft site was sold to MCL Land for $238.39 million in December 2016. The purchase price works out to a land rate of about $998 psf ppr.

Located in Queenstown in District 3, the site is close to good class bungalows, schools and two MRT stations (Commonwealth and Queenstown).

In addition, residents will have unblocked views of the surrounding greenery, Bukit Timah Hill and the city centre.

credits: propertyguru

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Holland Road Site Awarded To Far East-Led Consortium For $1.21b

Posted by Singapore Property Launch on 17th May 2018 in Blog
Future development at Holland Rd

Artist’s impression of the future mixed-use development near Holland Village. (Photo: URA)

The tender for the commercial and residential site at Holland Road has been awarded to a Far East Organization-led consortium, after it submitted the highest bid of $1.21 billion, said the Urban Redevelopment Authority (URA) on Wednesday (16 May).

Other members of the consortium are Sekisui House and Sino Group.

Intended for a mixed-use and pedestrian oriented development, the Holland Road site was launched for sale last November under the concept and price revenue tender. It received 15 concept proposals from 10 tenderers, with some bidders submitting multiple concepts.

Five concepts that offered strong overall development concepts and architectural designs were shortlisted.

URA noted that the concept proposal of the winning bidder “is compelling in its design concept and planning of the public realm”.

It revealed that the building form and massing of the scheme “allowed the development to sit comfortably with the existing Holland Village”.

“The shophouse street block, reinterpreted as a basic module building block of the proposed development, were laid out according to the existing Holland Village street block grid, resulting in a complementary site layout to the existing Holland Village.”

Meanwhile, the public spaces form a series of unique street experiences that extend the street experience of the existing Holland Village.

The future development will also have three zones, each of which will be anchored by a main public space: Commons Square, which can hold events such as outdoor performances and weekend markets, Communal Green which is a courtyard flanked by shops that leads to a terraced water feature and a water court, and Pocket Park which opens on to Lorong Mambong in Holland Village.

A series of connected open walkways will also be implemented to connect the public spaces to the surrounding areas, while the existing Lorong Liput and Lorong Mambong will be extended to create a consistent and distinctive streetscape for the larger Holland Village precinct.

credits: propertyguru

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Le Quest To Launch Phase 2 Sales This Weekend

Posted by Singapore Property Launch on 15th May 2018 in Blog
Le Quest phase 2 preview crop

Potential buyers at the re-opening of Qingjian Realty’s Le Quest showflat last Saturday. (Photo: Qingjian Realty)

Chinese developer Qingjian Realty reopened the showflat of Le Quest at Bukit Batok Avenue 8 for the Phase 2 preview last Saturday (12 May) to an “enthusiastic market response”.

“We had many visitors over the weekend who were excited by how close Le Quest will be to the Tengah Park station on the upcoming Jurong Region Line (JRL). It is very encouraging, and we believe many more buyers in the market will turn their attention to Le Quest,” said Qingjian deputy general manager Yen Chong.

The 24km-long JRL will open in three phases from 2026 and will shorten travel times within the western part of Singapore, the Land Transport Authority said last week.

For the Phase 2 launch of Le Quest this Saturday (19 May), buyers will have a choice of one- to four-bedroom units from 431 sq ft to 1,528 sq ft.

Prices of the three- and four-bedders will start from $1.12 million and $1.49 million respectively, notably higher than initial launch prices last August, which saw the three-bedders going at $900,000 and four-bedders from $1.38 million.

Despite the price hike, Alan Cheong, senior director of research & consultancy at Savills Singapore, said: “Indicative prices in this phase are competitive given the current market conditions.”

According to PropertyGuru’s Property Market Outlook report, prices of new launches are expected to be at least 5.0 percent higher than last year.

Le Quest is the first mixed-use development in Bukit Batok. The 99-year leasehold project will also house a childcare centre, a supermarket, retail shops and F&B outlets spread over 64,583 sq ft.

It is expected to be completed by end 2021.

credits: propertyguru