HDB launches 769 new flats in Punggol

http://www.straitstimes.com/Singapor...ry_410428.html

July 31, 2009 Friday

HDB launches 769 new flats in Punggol

Premium development includes 154 five-room flats, 615 four-roomers

By Jessica Cheam


THE Housing Board has launched a premium project offering 769 new flats in Punggol in a bid to build up critical mass in the estate.

The new project, called Punggol Residences, offers 615 four-roomers and 154 five-room flats in a central location just five minutes from Punggol MRT station.

HDB is launching the project under its build-to-order (BTO) scheme - flats are built only when certain demand is reached.

It has so far offered about 6,500 new flats in Punggol since it unveiled grand plans for the former fishing village to become the only waterfront public housing project in August 2007.

This is in line with the board's commitment to build up the population in the estate to attract and support new facilities, it said.

Punggol Residences is a premium development with enhanced architectural designs, interior fittings and landscaping, said HDB.

Four-room flats of 91 to 96 sq m are going for $264,000 to $322,000, while five-roomers of 114 sq m are on sale from $344,000 to $409,000.

According to HDB, premium resale flats in the vicinity are selling for a pricier $330,000 to $350,000 for four-roomers and $380,000 to $439,888 for five-roomers.

PropNex chief executive Mohamed Ismail said that, despite the higher prices, resale flats might still be more attractive given that buyers can enjoy a CPF housing grant of up to $80,000 depending on their income, and do not have to wait three years for new flats to be built.

On the other hand, buying new flats direct from HDB will attract those who prefer not to fork out any cash for resale flats.

This amount, known as cash-over-valuation, has started creeping up for premium resale flats in Punggol to about $15,000 to $20,000, noted Mr Ismail.

As of 5pm yesterday - the latest update from HDB - 593 applications for the 769 flats have been received.

Applications for the new flats can be submitted online at HDB's website www.hdb.gov.sg until Aug 12.

[email protected]

Actually, hor, I think the biggest bubble now is in HDB prices! We have DBSS HDB flats selling at 600+psf in Boon Keng (can't remember that for AMK but close to this price right?). We have HDB new flats in Punggol selling at 333+ psf. Obviously, private 99LH property usually about 2x that of HDB prices, so it is not unexpected that the AMK Centro can ask for $1200+ psf right?

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Originally Posted by mr funny

http://www.straitstimes.com/Singapor...ry_410428.html

July 31, 2009 Friday

HDB launches 769 new flats in Punggol

Premium development includes 154 five-room flats, 615 four-roomers

By Jessica Cheam


THE Housing Board has launched a premium project offering 769 new flats in Punggol in a bid to build up critical mass in the estate.

The new project, called Punggol Residences, offers 615 four-roomers and 154 five-room flats in a central location just five minutes from Punggol MRT station.

HDB is launching the project under its build-to-order (BTO) scheme - flats are built only when certain demand is reached.

It has so far offered about 6,500 new flats in Punggol since it unveiled grand plans for the former fishing village to become the only waterfront public housing project in August 2007.

This is in line with the board's commitment to build up the population in the estate to attract and support new facilities, it said.

Punggol Residences is a premium development with enhanced architectural designs, interior fittings and landscaping, said HDB.

Four-room flats of 91 to 96 sq m are going for $264,000 to $322,000, while five-roomers of 114 sq m are on sale from $344,000 to $409,000.

According to HDB, premium resale flats in the vicinity are selling for a pricier $330,000 to $350,000 for four-roomers and $380,000 to $439,888 for five-roomers.

PropNex chief executive Mohamed Ismail said that, despite the higher prices, resale flats might still be more attractive given that buyers can enjoy a CPF housing grant of up to $80,000 depending on their income, and do not have to wait three years for new flats to be built.

On the other hand, buying new flats direct from HDB will attract those who prefer not to fork out any cash for resale flats.

This amount, known as cash-over-valuation, has started creeping up for premium resale flats in Punggol to about $15,000 to $20,000, noted Mr Ismail.

As of 5pm yesterday - the latest update from HDB - 593 applications for the 769 flats have been received.

Applications for the new flats can be submitted online at HDB's website www.hdb.gov.sg until Aug 12.

[email protected]

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Interestingly, if we compared the DBSS Park Central in AMK with Centro, Park Central is priced ~$500psf while Centro is priced ~1150psf. Thats a 650psf difference! Compared to DBSS Parc Lumiere in Simei with DBR, Parc Lumiere is priced ~$425psf while DBR is priced ~$670psf. A narrower price difference of $245psf only. And if we compared DBSS Natural Loft in Bishan with Clover by the Park, Natural Loft is priced ~550psf while Clover by the Park is priced ~750psf. A even narrower price difference of 200psf! Considering purely land cost and building cost, what do u guys tink should be the difference in psf bet a DBSS(99yrs LH) and condo(99yrs LH) in the same vincinity taking into consideration that DBSS interior is similar to condo but with no external facilities like gym, tennis court, pools?

I would think private 99LH = 2 x HDB.
This is because of the additional land & facilities (cost of land and construction to build the facilities) of which you are part owner, and also the added security and usually better environment (security guards and no kids sniffing glue at void deck and people feeding stray cats, dogs, and pigeons).
From your data, we can see which are under-valued and which are over-valued.

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Originally Posted by 990113d03

Interestingly, if we compared the DBSS Park Central in AMK with Centro, Park Central is priced ~$500psf while Centro is priced ~1150psf. Thats a 650psf difference! Compared to DBSS Parc Lumiere in Simei with DBR, Parc Lumiere is priced ~$425psf while DBR is priced ~$670psf. A narrower price difference of $245psf only. And if we compared DBSS Natural Loft in Bishan with Clover by the Park, Natural Loft is priced ~550psf while Clover by the Park is priced ~750psf. A even narrower price difference of 200psf! Considering purely land cost and building cost, what do u guys tink should be the difference in psf bet a DBSS(99yrs LH) and condo(99yrs LH) in the same vincinity taking into consideration that DBSS interior is similar to condo but with no external facilities like gym, tennis court, pools?

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private 99LH = 2 x HDB.

HDB: $100k, Condo: $200k Quantum Difference: $100k
HDB: $250k, Condo: $500k Quantum Difference: $250k
HDB: $500k, Condo: $1million Quantum Difference: $500k
HDB: $750k, Condo: $1.5million Quantum Difference: $750k
HDB: $1million, Condo: $2million Quantum Difference: $1million

Assuming, the above trend carry on, HDB upgraders will buy smaller and smaller size condo in order to upgrade to condo as the quantum difference get larger and larger and this may be the reason y most of the smaller unit condo are sold out at a super high psf.

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Originally Posted by teddybear

Actually, hor, I think the biggest bubble now is in HDB prices! We have DBSS HDB flats selling at 600+psf in Boon Keng (can't remember that for AMK but close to this price right?). We have HDB new flats in Punggol selling at 333+ psf. Obviously, private 99LH property usually about 2x that of HDB prices, so it is not unexpected that the AMK Centro can ask for $1200+ psf right?

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f

DBSS HDB flats at Boon Keng at 600+psf.
999LH at St Michael Road (Mar Thoma Rd) is only going for 680 psf. now
This is for ~3 yrs old apartment.
You get swimming pool, gym and 800 more years of LH.

Are you sure you can still get such price? If so that must be a great bargain!

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Originally Posted by d12pxgoskyhigh

f

DBSS HDB flats at Boon Keng at 600+psf.
999LH at St Michael Road (Mar Thoma Rd) is only going for 680 psf. now
This is for ~3 yrs old apartment.
You get swimming pool, gym and 800 more years of LH.

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Quote:

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Originally Posted by teddybear

Are you sure you can still get such price? If so that must be a great bargain!

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Yes, can still get such price NOW.
Look at my username d12pxgoskyhigh (D12 price go sky high) to forsee the future.....:)