The Housing and Development Board (HDB) has actually launched a brand-new exec condominium (EC) website at Bukit Batok West Avenue 5 for tender on the confirmed Government Land Sales (GLS) checklist on June 28. The 99-year leasehold story remains on a land area of 179,000 sq ft and also will have an optimum permitted built-up area of 536,800 sq ft, based upon the gross story ratio of 3.0, says HDB.
OrangeTee & Tie CEO Steven Tan anticipates the growth to yield a total of 495 devices. “There is just one finished EC advancement within Bukit Batok, The Dew, which has a resale cost of $1,024 psf based upon this year’s information,” he adds.
An additional surrounding plot at Bukit Batok Avenue 8 attracted a total of 9 quotes and was awarded to a QingJian Realty as well as Santarli Construction joint endeavor in March, marking a record EC land price of $266 million, or $662 psf per plot ratio (ppr), states Tan. It was 9.8% more than the close-by Tengah Garden Walk EC story, which was granted to a City Developments (CDL) and also MCL Land joint endeavor in June last year. Tan anticipates a land cost of between $620 to $700 psf ppr, with devices to sell in between $1,300 to $1,400 psf.
The launch prices of EC units rates have actually been trending up, notes JLL’s senior supervisor of research study as well as consultancy Ong Teck Hui. North Gaia launched at an average cost of $1,301 psf in April, following Parc Greenwich at $1,229 psf and Provence Residence at $1,155 psf in September as well as May in 2014 respectively.
Ong expects land costs to get to in between $630 as well as $680 psf ppr. “The subject website is attractive as it lies close to Tengah town as well as within a reasonable distance to Bukit Gombak MRT Station (on the North-east Line),” he adds.
“This marks the third EC growth in the Bukit Batok West area within the period of a year, with a total amount of 1,500 devices up for sale” states Huttons’s senior director of research Lee Sze Teck. He likewise estimates that the bidding process price for the site will certainly reach $640 to $680 psf ppr, with as much as eight prospective buyers.
Singapore Condo refers to the popular housing option in Singapore where individuals can purchase a residential unit within a larger complex that offers shared facilities and amenities. These condos are highly sought after due to their luxury lifestyle and convenient location. One such highly desirable condo is Novo Place EC, which offers modern and spacious units with top-notch facilities such as swimming pools, gyms, and landscaped gardens. With its prime location and various recreational options, Novo Place EC is the ideal choice for those looking for a luxurious and comfortable living experience in Singapore.
