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Demand for two new developments expected to climb

Demand for two new developments expected to climb

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SINGAPORE — The biggest Build-to-Order (BTO) sales exercise for the year kicked off on Thursday, with units in the city fringe areas of Geylang and Bidadari drawing keen interest from buyers for the 4,802 new flats on offer across four towns.

At the close of the first day of application, the bigger units at the Dakota Breeze project — a stone’s throw from Dakota MRT Station in the Geylang area — and Woodleigh Hillside in the popular Bidadari estate had the highest application rate of 0.4, with the bulk of these being second-timer buyers. Upcoming executive condo  launches include Hundred Palms Residences EC, Anchorvale Lane EC,  while existing ones include Parc Life , Signature at Yishun,  Brownstone EC, Visionaire EC, Inz Residence, The Criterion EC and Northwave EC, The Terrace EC,  The Vales EC, , Sol Acres EC and The  Bellewoods EC. Hundred Palms Residences details and Hundred Palms EC show flat will be available shortly.

In particular, property analysts expect demand for the two new developments in Geylang — the other being Pine Vista — to continue climbing, as they noted that it has been three years since the mature town has thrown up new flats. The remaining BTO units put up for sale are for two projects in Woodlands and one in Yishun.
Apart from the 4,802 BTO units launched in this exercise ending next Wednesday, 3,946 unsold units, including some in Queenstown, Clementi, and Ang Mo Kio, are up for grabs. Nearly half of these units are completed.

PropNex Realty key executive officer Lim Yong Hock said the Geylang projects — sandwiched between Guillemard Road and Old Airport Road — could attract five applicants per unit because of the limited number of units available in an area that has not had a BTO launch in three years. The attractive location and accessibility are other draws, he noted.

Dakota Breeze, which has two-room Flexi, three-room and four-room flats, is located at the junction of Jalan Satu and Jalan Dua, while Pine Vista is bounded by Cassia Link and Pine Lane.

Mr Nicholas Mak, head of Research & Consultancy Department at SLP International Property Consultants, noted that both projects are “within comfortable walking distance” to Dakota MRT Station. Director of International Property Advisor Ku Swee Yong cited nearby amenities such as Kallang Park Connector and food centres.

Analysts expect the Woodleigh Hillside project, the biggest among those launched on Thursday with 1,355 units ranging from two-room Flexi to 3Gen flats, to be popular too. It is bounded by Bidadari Park Drive and Bartley Road, and served by Woodleigh and Bartley MRT stations. Mr Ku said parents of young children could be drawn to the proximity to Maris Stella High School.

Mr Mak noted that five out of the six BTO projects launched on Thursday are within two bus-stops of MRT stations, making them “fairly attractive”. The sole exception, Forest Spring in Yishun, has other attributes, such as greenery in the vicinity and a view of the Lower Seletar Reservoir, he added.

Meanwhile, the Deferred Downpayment Scheme, introduced to help ease the cash flow for elderly flat owners, will be available starting this sales exercise. The scheme allows flat owners who are 55 and older, and buying a two-room Flexi or three-room uncompleted flat, to furnish the downpayment when they collect the keys to the new unit.

The next BTO launch will be in August, involving about 3,850 new units in Bukit Batok and Sengkang. With the February launch involving just over 4,000 BTO units, and 17,000 new flats scheduled to be released this year, that means the final BTO launch of the year will offer around 4,300 units.

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