Push for greater inclusivity may drive down resale potential of HDB flats

With a firm emphasis on equal opportunity and inclusiveness, National Development Minister Desmond Lee discussed the possibility of regulating the reselling of future Build-To-Order (BTO) flats located in prime locations.

Push for greater inclusivity may drive down resale potential of HDB flats_Home Quarters SG_KC Ng Keng CHong

National Development Minister Desmond Lee PHOTO: MCI

This announcement should not come as a surprise. In March this year, the previous Minister of National Development, Mr Lawrence Wong, had already highlighted in Parliament the need to curb “social stratification” that may arise due to the relatively high prices of resale Housing Development Board (HDB) flats in mature estates and prime locations, as shown below. 

Push for greater inclusivity may drive down resale potential of HDB flats_Home Quarters SG_KC Ng Keng CHong

Data taken from hdb.gov.sg

This may come as a surprise. Didn’t we just see in the news that HDB home prices have been dropping in the past 2 years? It seems that with the startling number of million-dollar and above resale HDB flats sold last year and in the first 10 months of 2020. The government has decided that it needs to firmly clamp down on the number of expensive resale HDB flats in prime locations being sold.


Before we can go into the exact details that Minister Lee highlighted, we might ask,

What’s the problem with these Resale HDB flats being sold at high prices?

Push for greater inclusivity may drive down resale potential of HDB flats_Home Quarters SG_KC Ng Keng CHong

Average Price per Sqft of resale HDB flats in CCR vs OCR regions in the past 15 years

It’s an undeniable fact that houses located within the Core Central Region (CCR) are relatively more expensive to their Rest of Central Region (RCR) and Outside Central Region (OCR) counterparts, for reasons such as surrounding amenities and their convenient locations.

[psst: still not sure what exactly the CCR, RCR and OCR are? Check out our super short video that succinctly explains these regions here.]

Why, then, is the government trying to interfere with the free market?


This is because the original goal of HDB flats being accessible to all members of the public at affordable prices has been skewed.

Minister Lee stressed that, as the purpose of public housing was to allow Singaporeans of all backgrounds to live in their desired regions, the “principle of fairness” was of utmost importance.

Push for greater inclusivity may drive down resale potential of HDB flats_Home Quarters SG_KC Ng Keng CHong

Data taken from squarefoot.com.sg

He explained this further by establishing that while BTOs in prime locations are sold to homeowners at a highly subsidised price through ballots to ensure that flats in all locations are made affordable to all hopeful applicants, in the future, the price of such flats undergo steep appreciation, allowing past homeowners to earn large profits with low initial cost.

From the table, the hefty profits are earned by all sellers. BTOs in prime locations and mature estates reap far greater profits than their non-mature estate counterparts.

After these flats undergo a few rounds of buying and reselling, it is highly likely that “only wealthy people can afford this type of housing”, limiting the diversity of households living in prime locations.

Thus, he has announced that the Ministry of National Development (MND) will be implementing cooling measures in the near future to prevent prices from soaring.


So what measures are being implemented, exactly?

Adopting a two-pronged approach, Mr Lee stated that the MND will continue to purposefully include two-room flats for elderly occupants and rental flats for lower-income households. Even in future estates located in the CCR, so as to boost inclusivity within estates. Furthermore, the MND may be rolling out new policies to curb the growing prices of resale HDB flats in the near future.

In a Facebook post made on 11 December, he notes that as the government has been taking feedback from the general public. The MND has received various suggestions to introduce “some restrictions on the resale conditions for future prime area projects”. However, he does not specify the exact measures that will be implemented.


Prediction

So, can we predict some of the measures that will be rolled out?

Let’s go through four measures that many speculate may be implemented.

  • Increasing Minimum Occupation Period (MOP): The government may choose to extend the current compulsory 5-year MOP. Forcing homeowners to stay in their BTO for another few years before they can sell their flat. However, many speculate that this would simply delay the inevitable sale of flats at windfall prices for a few years.  Moreover, this would inconvenience those who genuinely need to sell their flat after the usual stipulated MOP period.
  • Shortened lease: The government may choose to shorten the lease of HDB flats in prime locations. While interested parties may still end up buying these resale flats. They might do so at a lower price as they believe the value of the house has dropped. However, this may put those who bought the flat for the sake of staying in it for as long as possible at a disadvantage.
  • Resale to HDB: Some have speculated that HDB may enforce a rule stating that any flat in the CCR can only be sold back to HDB, who buys it at a set price based on the years left on its lease. HDB will then be the sole seller of any resale HDB flats in the CCR, at more affordable prices. While this may seem practical on paper, such a policy may cause dissent amongst homeowners as they are forced to sell their own flats at a price that they cannot control.
  • Limiting Final Price: Some have suggested that the government put a cap on the selling prices of flats in prime locations. However, this measure may simply backfire as it simply invites more buyers to buy the house at the maximum price. In other words, the price ceiling may simply turn into a fixed price floor.

Preparation

Taking into account these potential measures, How should we prepare ourselves for any policy changes?

While nothing will be confirmed until the MND officially implements any policies. We should begin viewing investment properties with increased prudence, and prepare ourselves for drops in the prices of resale HDB flats. Especially those in the CCR region, or larger flats in mature estates.

Most importantly, as buyers, we will have to consider our options with even more cautiousness. As we may see the future prospects of potential flats be severely limited in the near future.


Contact Us

In the meantime, as usual, life goes on. If you’re looking to sell your house and want some professional input, or find that your property is taking a little too long to sell, we’d be happy to help you out! Similarly, if you have any questions or opinions regarding this article, we’d love to hear them as well.

Just whatsapp message or call KC from Home Quarters and begin finding your new home today: +65 8809 2889! Drop us an email at homequarterssg@gmail.com! Shoot us a message on our Facebook or Instagram pages, and we’ll be glad to lend a helping hand. That’s it for this article! Stay safe everybody, and remember, call Home Quarters and start packing!

Selling Like Hot Cakes Now: Avenue South Residence Condominium

Imagine staying in one of the tallest residential buildings in Singapore. That will be the Avenue South Residence, a 99-year leasehold condominium located along Silat Avenue.

Consisting of 1,074 units across two 56-storeys high residential towers and low-rise buildings, it has a total land area of 245,974.6 square feet with a range of unit types from 1-Bedroom to 4-Bedrooms.

Slated for completion by 2023, residents will get to soak up amazing views of Keppel Terminal and Sentosa from the balcony on the top floors.


Avenue South Residence Condominium Fact Sheet

Property Type: Condominium

Tenure: 99 years

Address: 11 Silat Avenue Singapore 160149

TOP: 2023

Gross Floor Area: 84,550.69 sqm / 910,096 sqft

Blocks: 7

Units: 1,074

Floors: 56

Developer: UOL Group Ltd., Kheng Leong Co and UIC Ltd


The companies behind this brilliant creation 

Avenue South Residence is jointly developed by UOL Group Ltd, Kheng Leong Co and UIC Ltd.

UOL is one of Singapore’s top-performing listed companies with a rich portfolio in properties and hotels, including The Tre Ver and Spottiswoode Residences. Their developments are well-planned and of good quality.

Thus, we can be confident of project completion and the excellent standards of the condominium amenities and facilities.


What can you expect from living here

Avenue South Residence is located on the fringe of the CBD, in the Bukit Merah region, currently 1.2 km away from Outram Park MRT station.

However, a minute away from the residency is a bus-stop where residents could get to Outram Park or Harbourfront MRT station in just 5 minutes.

Also, with the Cantonment MRT station (0.7 km away) and Keppel MRT station (0.8 km away) along the Circle Line set to commence in 2025, commuting time for residents would be reduced.

At just a 10-minute drive away from the CBD and Orchard Road, Avenue South Residence is a perfect choice for those working in the CBD. Those who prefer to live in close proximity to their places of employment.

Though, with most people working from home these days due to the COVID-19 situation, maybe this will not be a key push factor — but when you buy a property, you are making a long term investment, and we are all hoping that life would go back to normal in the future!

Singapore General Hospital Source: SGH

With the Singapore General Hospital and the Tanjong Pagar Neighbourhood Police Station situated close to the condominium, residents do not have to worry about security and access to medical help.

Within walking distance from Avenue South Residence are various food and grocery options such as the Blk 148 Coffeeshop, a 24-hour grocery store and Silat Avenue FairPrice supermarket, so residents definitely can settle into life quickly.

The location of Avenue South Residence also offers much convenience for families with children of all ages. There are a number of PCF preschools within a 5-minute drive as well as primary and secondary schools such as CHIJ St. Theresa, CHIJ Kellock and Radin Mas Primary School at just a 10-minute drive away.

For future tertiary students, Singapore Polytechnic, National University of Singapore (NUS) and Management Development Institute of Singapore (MDIS) are relatively nearby.


Maintaining an active life with Avenue South

Apart from the usual facilities and amenities in condominiums such as function rooms, study rooms and tennis courts, Avenue South Residence would have a childcare centre and 8 commercial shops – making your life easy and convenient without even leaving your home complex.

Some interesting facilities are the rock climbing walls and mini golf area. For the avid swimmer, there is a 50 m lap pool, as well as a beautiful infinity pool on the top deck.


The biggest spotlight is also on the upcoming Great Southern Waterfront. The Urban Redevelopment Authority (URA) have plans to develop the area.

As a new major gateway for urban living along Singapore’s southern coast, this will include the Sentosa, Marina Bay and Labrador Park area.

Residents of Avenue South Residence can look forward to increased access to different parks and nature trails along the waterfront.


What do we think

Avenue South Residence has good investment prospects given its location and nearby amenities. Residents who enjoy nature and an active lifestyle would definitely have no lack of weekend activities once the Great Southern Waterfront is fully developed.

Its connectivity to multiple MRT stations and CBD makes it one of the more convenient residential developments in the recent years.


Contact Us

Do visit our others social media platform, YouTube, Facebook and Instagram pages for more! If you have any question, do sending us an email, or contact us right now!

That’s it for this article! Stay safe everybody, and remember, call Home Quarters and start packing!

Best Buys on Taobao to Elevate Your New Home

Now that you have a new place you can call your own – how do you elevate your house to become a home? You do not have to break the bank to fill your cozy little space! Just like many of your peers who have turned to Taobao, you may have scour the website to find yourself overwhelmed by the amount of choices there.

Taobao has made modern aesthetic decor so much easier, but first, you have to choose. Here, we have curated some of the best buys on Taobao that will bring style and everyday practicality to your daily routine.


Best Buys on Taobao for the Kitchen

#1 Kitchen Towel Dispenser

For those that enjoy cooking – whether is it a daily activity or a weekend hobby, you will find that having a good kitchen towel dispenser is absolutely essential! This nifty, handy dispenser can be suspended from a ceiling or a wall. This allows you to place it at a location where it is the most convenient for you.
Purchase link


#2 Fridge Side Carrier

For a welcoming and homey touch, you can hang this pretty fridge side carrier. It also provides extra storage space beside the fridge – perhaps to store some stationery or kitchen supplies. Not only that, it makes for easy cleaning – simply pop the entire carrier into the washing machine instead of having to wipe the fridge down.

Purchase link


Best Buys on Taobao for the Service Yard

#3 Hanger and Pegs Holder

Laundry chores are part of everyday life. As much as we want to imagine a Konmari-lifestyle and hide these unsightly things in the storage all the time, it may not be practical. This chic hanger and pegs holder is a must-have for minimalist home decor. This aluminium holder is in matte black, and does not require any drilling to secure it to the wall.

Purchase link


#4 Classy Umbrella Holder

For tropical dwellers in Singapore, it would be essential to have an umbrella holder for rainy days. What’s better is to get an elegant one that will greet you everytime you come home!

Purchase link


Best Buys on Taobao for Lighting

#5 Denmark Centrepiece Lamp

If you’re looking for a bit more oomph in your living room, consider investing more in a state of the art lighting centrepiece. Why not, since you would be looking at it everyday, and guests would certainly notice it and be impressed! These chic lamps from Denmark are eye-catching and not too loud. The shop that sells these lamps also have a range of styles to match your home decor. 
Purchase link


Best Buys on Taobao for Storage

#6 Stylish Storage Basket

Chances are, you would need storage baskets for laundry, extra magazines, or even pet supplies. These baskets help you hide the clutter – so they had better look good while doing it. These baskets are stylish and fit into the Nordic theme of most homes nowadays. 

Purchase link


Best Buys on Taobao for Drawers & Shelving

#7 Wooden Book Shelf

Shelves may appear to be mundane furniture, but any interior designer would tell you to never go easy on details. These shelves would nicely display your books and favourite souvenirs from memorable trips. The shape and cutting of this shelf is also not your run of the mill sort from Ikea, adding sophistication to any room you place this in. 

Purchase link


#8 Bedside Table

When we are sleepy from our slumber and trying to grab our smartphone or spectacles, how many times would these items fall to the ground? This bedside table is one with a smart design – notice the little catch at the edge? It helps to prevent this clumsy situation (and broken phone screens!) 

Purchase link


Conclusion

What other fantastic home items did you spot on the wonderful shopaholic haven of Taobao? There are so many new and ingenious items featured everyday – so let’s share the knowledge with others by commenting below! Let’s build the longest list of the best buys on Taobao for home decor and practical needs! 


Contact us

If you are looking to conduct any home buying, selling or renting, be sure to reach out to KC from Home Quarters on YouTube, Facebook and Instagram or email us, here at: homequarterssg@gmail.com!

That’s it for this article! Stay safe everybody, and remember, call Home Quarters and start packing!

Watch out for the up-and-coming Penrose Condominium!

Located right smack in the green oasis heartlands of Aljunied, Penrose Condominium is definitely one of the most-anticipated developments in 2020 to look out for. Located at the CBD city fringe, this 99-year leasehold condominium is slated for completion by 2025, with a total of about 17 blocks consisting of 560 premium residential units. There are many reasons why Penrose Condominium is highly sought after, which we will detail below for you. 

This 99-year leasehold condominium is slated for completion by 2025.


Penrose Condominium Fact Sheet

Property Type: Condominium

Tenure: 99 years

Address: 30 Sims Drive Singapore 387386

Built: 2025

Gross Floor Area: 16,225.2 sqm / 174,646.6 sqft

Blocks: 6

Units: 566

Floors: 17 or 18

Developer: Hong Leong Group & City Developments Limited


Anticipate the impeccable quality the developers can bring to Penrose Condominium


Come home to a fantastical forest-themed Penrose Condominium

What caught our attention was its forest themed inspired architecture and decor that will revitalize your soul and body whenever you come home to Penrose.

As a joint venture development by Hong Leong Group and City Developments Limited, excitement for this luxury project is definitely reasonable given their stellar past track record.

Both developers have a long-established reputation in the real estate industry. Hong Leong Group has started out since the 1960s and has since become the market leader, launching projects including The St. Regis Hotel and Residences, W Singapore Sentosa Cove and Residences, Quayside Isle and One Shenton.

Hong Leong Group has also bought a majority stake in City Developments Limited, which has since become a listed international property and hotel conglomerate. With that, you can already imagine the impeccable quality that the developers will be bringing to Penrose.

Seamless flow of the 50-meter lap pool and these green spaces will allow you to be immersed in the tranquility of nature.


Penrose Condominium’s Floor Plan

Looking at the floor plan of Penrose, the apartment blocks include a mix of 1-to-4 bedroom, penthouse and even dual-key units.

In a previous video, we had an in-depth analysis of the top dual-key condominium developments in Singapore, but during then, information of Penrose was not released yet.

The 2-bedroom units have a popular “dumbbell-shaped” layout with the rooms at each side of the living area. 

 

The forest-inspired estate includes 3 different luxurious woodland pavilions, of which includes a keen attention to detail and vast nature is realized from the moment of entry.

Seamless flow of the 50-meter lap pool and these green spaces will allow you to be immersed in the tranquility of nature.

Residents can also enjoy hosting dinner parties and alfresco dining amidst the greenery, with BBQ pits available as a bonding activity for families and friends.

Penrose also has a generally much larger unit size as compared to the neighbouring Sims Urban Oasis because they are being hit by the new URA policy that restricts developers from building small shoebox units right outside of the city centre.


Location is top-notch at Penrose

Aljunied MRT is the closest MRT and is located just a 5 minutes walk away from the doorstep of Penrose. On top of that, with its proximity to key expressways PIE, KJE and public transportation networks, it’s very convenient for those who drive.

Aljunied is also fairly close to the CBD, only a 10 minutes drive away from City Hall. Home owners can be rest assured that location is prime, here at Penrose. 

For your shopping and daily groceries needs, a vibrant neighborhood awaits around!

Watch out for the up-and-coming Penrose Condominium!_Home Quarters SG_KC Ng Keng Chong

Kinex Shopping Mall Source: The Smart Local

Nearby, residents can browse the Kinex Shopping Mall (previously One KM), Paya Lebar Square (where you can find Giant Hypermart), and Paya Lebar Quarter. Indulge in the many of Singaporeans’ favourite hawker options in Sims Vista Market and Old Airport Road Hawker Centre.

The location that Penrose sits at, also offers much convenience for families with school-going children of all ages. This includes many schools in the vicinity, including:

Geylang Methodist Primary School

  • Geylang Methodist Primary School
  • Geylang Methodist Secondary School
  • Macpherson Primary School
  • Canossa Convent Primary School
  • Kong Hwa School
  • Bendemeer Primary School
  • Cedar Primary School
  • Nexus International School
  • James Cook University

There is an integrated childcare centre in the development right at the first floor! You will also enjoy sheltered walkways from a bus stop, 1-1 parking lot allocation and a grand entrance drop off.
We will expect that Penrose condominium will  be popular among investors for its recession resilience qualities. Nearby, Parc Esta at Eunos MRT & Park Place Residences at PLQ at Paya Lebar MRT have been super popular since their launch.

The prices for Park Place Residences at PLQ integrated developments are even hitting $2,281 per square foot for a studio unit!


A hot favourite among property investors

Penrose Condominium is very popular among investors for its recession resilience qualities. Other than being backed by reputable developers, the surrounding neighbourhoods have very promising future growth in URA’s Master Plan.

As we all know, location is king when it comes to property, and with the Aljunied region so close to the central business district (CBD) the demand for both residents and tenants will be aplenty and moreover, the Singapore CBD is not going to shift anywhere else so soon.

Kallang Riverside Park will even include beachside lagoons and recreational water sports fun such as boating or canoeing.

Another transformation is happening at the other end of Aljunied, with Kallang Riverside poised to become a waterfront lifestyle destination.

This 64-hectare entertainment precinct will be presenting thousands of new homes, hotel rooms and around 400,000 sqm of office, retail and entertainment facilities.

Kallang Riverside Park will even include beachside lagoons and recreational water sports fun such as boating or canoeing.

Watch out for the up-and-coming Penrose Condominium!_Home Quarters SG_KC Ng Keng Chong

In the region, you get a lot of amazing food options in the Geylang neighbourhood including the tasty frog porridge, Wen Dou Sek Dim sum, Tan Ser Seng Herbs Soup Restaurant, and more. 


Conclusion

We will certainly be keeping an eye on the development of Penrose Condominium and also its demand! If you are interested in knowing more about this condominium, reach out to KC from Home Quarters.

At Home Quarters, we have helped many clients turned friends to find their dream home by guiding them through the journey of finding their ideal unit.


Contact us

You may have many concerns – it is perfectly normal – just contact Home Quarters by going over to www.homequarters.com.sg or send us an email at homequarterssg@gmail.com or visit our social media on YouTube, Facebook and Instagram.

You may be looking at resale condominiums instead of brand new condominiums, for that, read our previous article that compares between new launch or resale condominium flats. Let us know what you need, and we can start right away to address your needs.

That’s it for this article! Stay safe everybody, and remember, call Home Quarters and start packing!

Your East Coast Plan To Be An East Coast Resident!

East Coast is arguably the most popular GRC estate to be in now. This is especially so after Nomination Day for the General Elections (GE) 2020 in Singapore. Deputy Prime Minister Heng Swee Keat was announced to be leading the East Coast GRC team for People’s Action Party to compete against Workers’ Party GRC team led by Nicole Seah.

East Coast Plan by Home Quarters. DPM Heng Can Use This Anytime!

This comes after ESM Goh Cheok Tong who announced that he will retire from politics and not compete in this year’s GE. This was particularly surprising because DPM Heng had always competed in Tampines GRC. Many have also spoken about the high likelihood that he would become the next Prime Minister after PM Lee Hsien Loong retires from the position. DPM Heng spoke much about the “East Coast Plan”. Although he left much to be imagined, we can now start doing our own plans to be an East Coast resident and be part of the wonderful East Coast Plan planned for us. 

There is a reason why people say East is better than West in Singapore. The perfect amalgamation of residential and leisure is found in the lifestyle of an Eastie. With a myriad of shopping malls, leisure and dining options available in Siglap, Bedok, Marine Parade, Tampines and Pasir Ris. You can even get close to nature when you head for the beaches at East Coast or Changi. Here are our top 4 condominium estates that are within the electoral boundaries of East Coast GRC to start your East Coast resident plan:


The Jovell

Only 9 minutes away from Changi Airport by car, the refined Jovell Condominium is built for people who are  aspiring globetrotters! Rising at a height of 8-storeys with 429 units, The Jovell is a sophisticated residential enclave that provides a sense of seclusion. Surrounded by good class condominiums and developments, The Jovell offers a charming view of the neighbourhood. 

After a long day at work, enjoy a refreshing swim at the opulent 200-metre lap pool. For those who love to exercise, there is also a jogging track, aqua gym, fitness stations and tennis courts. To relax in this condominium located in the East Coast, you can loosen up in the steam rooms, bubbling pools, or just lounge in one of the hammocks by the pool. 


Grandeur Park Residences

At the doorstep of Grandeur Park Residences, you will find Tanah Merah MRT Station. This is a truly classy sanctuary to rejuvenate yourself every time you come home. Sprawling lush, landscaped grounds across Grandeur Park Residences create an oasis of zen that will melt away all your worries, yet keep you well-connected to the city.

Wellness living is central to the lifestyle here – there are more than 90 facilities dedicated to the residents’ relaxation here, including a 50-metre infinity lap pool. Grandeur Park has major advantages – with two commercial shop units and the childcare centre within the compound, this provides a convenience edge.


Coastline Residences

Get ready to be blown away by the magnificent eastern sea views at Coastline Residences. That is a dream for many to own a unit with such scenery. Let’s take a look at Coastline Residences’ cosmopolitan edgeless architectural design. The courtyard with its wooden decks and its seamless water landscape is a winner compared to the other conventional estates around.

Within the private estate, Coastline Residences’ exclusivity certainly feels like a getaway from the hustle and bustle of the city. Conveniently positioned only just minutes away from various schools, Coastline Residences is convenient for children who can catch a few more minutes of sleep as they can travel to school fairly quickly. Schools in the vicinity include East Spring Primary and Secondary School, the Japanese Primary School, Tampines Junior College, and Tampines North Primary School.


One Meyer

Formerly The Albracca, One Meyer, is particularly popular with its seafront location and with its richness in Asian heritage styles. Katong Park and East Coast Park are both right next to One Meyer for your day to day leisure activities. There are also cycling paths that lead directly to Gardens by the Bay! The highest floor units of the freehold condominium estate, One Meyer, will also get to enjoy unobstructed views of the ocean, giving the vibes of a holiday everyday at home.

One Meyer is also located near many shopping centres. Parkway Parade, i12 Katong, and Katong Shopping Centre are all a 10-minute drive away, where residents can find many lifestyle, retail and dining choices. 


What is in the “East Coast Plan” in the next 5 years?

  1. Improved Connectivity is key with Thomson-East Coast MRT Line

The Thomson-East Coast MRT line has been in construction for years, with some stations already ready (Woodlands North to Woodlands South stations). East Coast GRC residents can look forward to having 3 stations – Bayshore, Bedok South and Sungei Bedok – which will improve connectivity tremendously within the East Coast in 2023. This brings residents in the east another access to the North-South Corridor via Marina Bay, and also providing faster access to the city. 

  1. Changi Airport’s Rejuvenation After Covid-19

Source: Changi Airport

The Changi Airport may be underutilized in wake of the Covid-19 pandemic, Terminal 2 (T2) of the airport is undergoing many preparations to welcome visitors once again in 16 months’ time. Although we were sad to bid some nostalgic features goodbye, such as the iconic flipboard, East Coast residents can look forward to a brand-new look after renovations.

According to Changi Airport Group (CAG), this “multi-year” expansion project will increase T2’s handling capacity and renew the facilities and amenities inside the terminal. Some new features will include additional space in both departure and arrival halls, additional retail and F&B outlets and indoor greenery, which will undoubtedly be a new leisure spot for East Coast residents in addition to Jewel Changi. Certainly, residential estates in this area are extremely attractive for tenants and residents who frequently have to travel overseas as well.

  1. Changi Region Masterplan

Source: URA

The existing thriving Changi’s business ecosystem is the 71-hectare Changi Business Park (CBP), where CapitaLand has a network of eight properties. CBP is a leading business and research node with an emphasis on banking operations, freight, aviation technology, as well as machine learning and automation.

The Changi region masterplan includes a rejuvenation of the business hubs, such as the Changi Aviation Park and Changi East Urban District. With a direct link to the airport, Changi Aviation Park is developed as a future thriving aviation hub and planned to cater to the lucrative aircraft servicing and aviation financing sectors.

On the other hand, the Changi East Urban District, connected to the future Changi Airport Terminal 5, will house smart work centres, conference halls, hotels and serviced apartments. The Urban Redevelopment Authority (URA) has strategized for the Changi region to become a holistic and seamless work-live-play environment in the coming years.


Are you planning to be part of the plan to be an East Coast resident?

The East Coast lifestyle is certainly one that is much desired for many Singaporeans who are not living in the East Coast right now. In years to come, it is likely to become even more attractive. We understand that you may have concerns and need to know more before committing to becoming a resident in the East Coast to be cared for so that you can be part of the plan to emerge stronger as a community together.

Upcoming establishments including Liv@MB and former freehold Telok Kurau bungalows have yet to be launched as well. We are definitely on a lookout for these places as the East Coast is one of the most sought-after neighborhoods in Singapore.


Contact US

At Home Quarters, we have helped many friends to find their dream home by guiding them through the journey of finding their ideal unit. You may have many questions! That is perfectly normal – just contact Home Quarters by going over to homequarters.com.sg or send us an email at homequarterssg@gmail.com or direct message us on Facebook or Instagram. Let us know and we can start right away to address your needs.

That’s it for this article! Stay safe everybody, and remember, call Home Quarters and start packing!

$187,000,000 Estate Upgrading Programme in Singapore. YOU could be a beneficiary!

What is the Estate Upgrading Programme?

Announced on 25th October 2019, the Ministry of National Development (MND) will spend S$29 million to conduct a Private Estate Upgrade in 10 private estates. This is the tenth batch of the Estate Upgrading Programme (EUP). Since 20 years ago, MND has spent about S$187 million under the EUP to upgrade older private estates in Singapore. The objective of the EUP is to improve the physical living environment in mature private estates to better serve the residents’ needs.

Namly Estate - one of the 10 private estates that will be upgraded under the Estate Upgrading Programme (EUP)

Namly Estate – one of the 10 private estates that will be upgraded under the Estate Upgrading Programme (EUP) | Source: Google

Upgrading works vary accordingly to the existing conditions and needs of each estate. For example, some upgrades include installing footpath lighting to enhance safety and security. To provide barrier free access to wheelchair users, ramps will also be built.

Mei Hwan Estate is getting a facelift. Source: Google

New green spaces are also created to improve the estates’ landscaping such as children’s playground and parks. All these upgrades further community and family bonding, installing estate markers also improve the estate’s identity.


The 10 Private Estates That Will Be Upgraded This Time

RegionEstate
CentralNamly, Watten
Ang Mo Kio-BishanThomson, Adelphi & Soo Chow, Pemimpin, Cheng San Cactus Sunrise, Fulton
North-EastMei Hwan
South-WestPasir Panjang Private Estate (East)
EastFrankel, Kew
WestWestwood

Staying in one of these private estates?

The owners staying in these estates will be direct beneficiaries. According to the Singapore Department of Statistics, 91.5% of the landed property is occupied. These estates’ rejuvenation will be greatly welcomed by the owners.

The upgrade will also improve accessibility to and from the estates, and even improve the safety and security of the residents living there. These enhancements are likely to draw in more buyers. This includes buyers who have previously given up deals because of facility concerns. The drawback is that owners have to put up with the construction noise during the upgrading.

The increase in demand will definitely play a part to push the price upwards. However, the price movement also depends on many factors as well. Considering that the average upgrading cost is about S$2.9 million per estate, the magnitude of the upgrade is relatively small compared to the property prices. For example, in the Frankel estate, the transactions on the houses there range between S$3.2 million and S$6.65 million in 2019.


Are you a home owner living in these estates?

With all the upgrading that is occurring, if you are a home owner that is looking to sell, this is where Home Quarters can help. We can go through a set of customized marketing strategies that will enable you to get your home sold even during the upgrading process!


Contact Us

If you have questions or if you are thinking about properly showcasing your house for sale, whatsapp message or call KC from Home Quarters and begin finding your new home today: +65 8809 2889! Or drop us an email, commenting on our YouTube or contacting us through our Facebook and Instagram pages! If you would like to schedule a virtual viewing, that is also possible – you can read all about what you need to look out for during a property virtual viewing here before COVID-19 end.

That’s it for this article! Stay safe everybody, and remember, call Home Quarters and start packing!

Source: https://www.mnd.gov.sg/newsroom/press-releases/view/another-10-private-estates-to-be-upgraded-at-29-million


Table:

S/NEstate Name
1Cheng San Cactus Sunrise
2Frankel 
3Fulton
4Kew
5Mei Hwan
6Namly
7Pasir Panjang Private Estate (East)
8Thomson Adelphi & Soo Chow, and Pemimpin
9Watten
10Westwood
https://www.tablebuilder.singstat.gov.sg/publicfacing/createDataTable.action?refId=12309