Tag Archives: Sengkang

HDB priority scheme a hit with married couples

Posted on 16 May 2013 | Comments Off on HDB priority scheme a hit with married couples

HDB’s recent initiative to help married couples with children below 16 years own a home is reportedly doing well.

More than 12,000 first-timer households under the Parenthood Priority Scheme (PPS) took up 32 percent of the 3,898 Build-to-Order (BTO) flats offered in the non-mature estates of Punggol, Sengkang and Bukit Batok during the recent launch in March.

PPS applicants had also applied for 30 percent of flats offered in non-mature estates back in January.

Meanwhile, the housing board plans to launch 4,850 BTO flats in Hougang, Choa Chu Kang, Sembawang, Jurong West and Woodlands, as well as 3,000 balance units later this month.

Moving forward, analysts expect the response from PPS applicants to be even higher as the scheme has been extended to cover married couples expecting a child, in addition to the launch of balance flats which are considered more attractive since they are ready or nearing completion.

According to HDB, 30 percent of BTO flats and 50 percent of balance units are reserved for PPS applicants.

Source – PropGuru – 16 May 2013

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Singapore’s northeast at risk of housing oversupply

Posted on 27 Jun 2012 | Comments Off on Singapore’s northeast at risk of housing oversupply

While home prices in the northeast district are expected to be stable in the coming year, analysts say the area may potentially see an oversupply of homes in the future.

In the next few years, Punggol, Sengkang and Pasir Ris will continue to see intense construction activity, with market watchers expecting some 17,000 residential units to come onstream in the area over the next five to six years.

Later this year, developers are expected to bid for 4 sites in the northeast which are expected to yield some 2,000 executive condominium units. This will add to the 3,295 units from sites released in the area by the government in the first half of the year.

Despite this, experts predict a well-located site to see eight to 10 bids from developers.

“Pricing will be competitive in Punggol area and Pasir Ris, more so because there have been a couple of launches in the second half of last year GLS programme and also the first half of 2012,” Alan Cheong, Research Head of Savills Singapore, said.

“There will be a bit of competition among developers, but prices will remain competitively stable.”

Under the Government Land Sales, a commercial site at Punggol will be put out for tender in the second half of 2012. Still, some market watchers point out that Singapore’s northeast precinct lacks economic activity, reducing its attractiveness in residential leasing and resale.

Analysts also say the lack of education and commercial activities to anchor the area could drive buyers to consider homes in other estates.

For now, prices are expected to remain stable over the next one to two years.

According to analysts, median prices of new private homes in Sengkang are nearly S$1,000 per square foot, and nearly S$900 per square foot in Sengkang and Pasir Ris.

Source : CNA – 2012 Jun 27

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