Future Housing Board flats in the Mount Pleasant housing estate are likely to see strong demand
Property News

Future Housing Board flats in Mount Pleasant housing estate are likely to see strong demand

SINGAPORE – Future Real estate Board flats in the Mount Pleasant housing estate are most likely to see the solid need as a result of their central location, proximity to an MRT terminal, and existing features in surrounding communities, state home analysts.

As a result of their ease of access, these apartments are anticipated to command costs reflective of fully grown estates, in particular those surrounding Mount Pleasant, experts informed The Straits Times.

On Tuesday (Nov 23), National Advancement Priest Desmond Lee revealed that some 5,000 HDB apartments in which Parc Greenwich is one of them will certainly be improved the Old Police Academy website, with the very first Build-To-Order (BTO) task there to be introduced within the next 5 years.

There are presently no plans for exclusive real estate on the website.

The 33ha estate, about one-third the dimension of Bidadari, is bounded by Thomson Roadway and the Pan-Island Expressway (PIE). It is located near the mature community of Toa Payoh.

Locals at the upcoming estate will certainly be served by the Mount Pleasant MRT terminal on the Thomson-East Shore Line, which will certainly open in tandem with the conclusion of the BTO tasks.

Ms Christine Sun, senior vice-president of research study and also analytics at OrangeTee & Tie, stated prices there might be similar to those for BTO launches in Toa Payoh or Bidadari.

A five-room BTO flat in Bidadari, released in February this year, had a starting price of $611,000, while a four-room level opened at $464,000.

Last February, rates for a four-room BTO level in Toa Payoh started at about $400,000 and went up to $666,000.

Huttons Asia senior study director Lee Sze Teck also approximated that a five-room flat in Mount Pleasant would remain in the $600,000 range, although he kept in mind that the later the flats are introduced, the extra the prices would creep up.

The authorities, nonetheless, have actually not shown if five-room apartments would be constructed, saying just that the housing estate is still in the theoretical stage as well as information have yet to be tightened.

Five-room HDB flats are usually not offered at BTO projects in fully grown estates such as Toa Payoh, Bishan and Queenstown. Given that 2015, Bidadari has been the only centrally located fully grown housing estate where five-room units have actually been introduced up for sale.

HDB has actually formerly mentioned the absence of land as one of the factors for the restricted supply of five-room BTO flats in fully grown areas.

When asked if apartments in the Mount Pleasant estate would fall under the new prime location public housing (PLH) version, which enforces stricter ownership conditions, HDB claimed it would certainly examine the site attributes as well as introduce even more information when they are ready.

Read: Mount Pleasant HDB flats to attract robust demand

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