SINGAPORE: In the upcoming June Build-To-Order (BTO) launch, the Housing & Development Board (HDB) will offer 6,938 flats across various developments. Experts are pointing to the two Kallang Whampoa projects, Tanjong Rhu Riverfront I & II, as the ones set to attract the most interest, mainly due to their prime location, scenic views, and proximity to key transport links.
Singapore Business Review reported that PropNex said that Tanjong Rhu Riverfront I & II, part of the Prime Location Public Housing (PLH) scheme, will draw buyers’ interest due to their waterfront views and proximity to both Tanjong Rhu and Katong Park MRT stations on the Thomson-East Coast Line.
PropNex noted that there could be high demand for these flats since the area has not seen many new developments for years. The HDB flats in nearby Kampong Arang Road and Jalan Batu were constructed between the late 1960s and mid-1980s.
The agency estimates that the two PLH projects, which will collectively yield 2,063 new flats, could see an application rate of two times or higher due to their desirable location.
Huttons echoed this sentiment, referring to Tanjong Rhu Riverfront I & II as potentially the most exciting PLH launch since River Peaks I & II in November 2021.
Huttons remarked that, at 29 storeys, this will be one of the tallest residential developments in Tanjong Rhu. High-floor residents will enjoy unblocked views of fireworks, the city, or the sea, leading to strong demand for the 2,063 flats.
They also predict one to two applications per flat from first-time families and over 20 applications per flat from second-timer families looking for long-term homes in this prime area.
OrangeTee suggests that these projects will also attract many young couples, particularly those whose parents live in private homes in nearby areas like Tanjung Rhu, Katong, or Marine Parade. They believe the prime location and the modern amenities will be significant draws.
Apart from Tanjong Rhu Riverfront I & II, another development expected to receive strong demand is Holland Vista in Queenstown. OrangeTee pointed out that this project benefits from its excellent location, close to numerous amenities and Holland Village MRT station.
“There are numerous amenities nearby, and the future apartments will be in close proximity to Holland Village MRT. This could be a cost-effective way for eligible buyers to acquire a property in a prime location and enjoy the advantages of living in a developed area,” OrangeTee commented.
Additionally, a preschool and an active ageing centre will be built within the development, catering to families with young children and elderly members.
Queenstown, also a PLH project, has the smallest offering among the June launches, with 342 flats. Despite this, it is anticipated to see a high application rate due to the limited number of flats and the lack of recent BTO launches in the Holland Drive area.
PropNex highlighted that the area’s existing HDB blocks were mostly built in the 1970s, with a few more recent developments in the 1990s and 2012. “Given the limited number of flats offered in this project, the application rate could likely trend higher, possibly beyond three times,” PropNex stated.
Its convenient location near the Holland Village MRT station and the new One Holland Village mall adds to its attractiveness.
Huttons anticipates that first-time families will apply for 4-room flats at a rate of one to two applications per unit. /TISG
Read also: Tengah Garden Avenue site expected to attract developer interest with bids up to S$980 psf
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