Terrace house in Joo Chiat hits >$2Kpsf

[proper-t]

From URA caveats

JOO CHIAT PLACE Terrace House
Price: 3,160,000
Area : 1,548
S$psf: 2,042
Date : Jul-11

[bricksnmortar]

Wonder whether this is one of the conservation shophouses that has been done up nicely?

[proper-t]

Tembeling Road too altho' its really small land area.:

LANDED HOUSING DEVELOPMENT TEMBELING ROAD
Type:Terrace House
Price: 2,630,000
Area : 1,220
S$psf:2,157
Date: Jun-11

[focus]

Oh my god.. really got people buy ah...

Dunno whether is the one I called to enquired. It's a rebuilt inter-terrace..

I called agent and ask for price and he sheepisly say.."i know a bit high but owner is asking lah"...

[proper-t]

Not surprising. If you read the recommendations of Concept Plan 2011, the Joo Chiat and Siglap area was specifically mentioned (see excerpt below in quotes)

People in the know could be buying up in anticipation of something big brewing for these areas.

Local areas of identity and iconic structures

3.11 A significant aspect of Singapore that reinforces our sense of belonging is our areas of identity. Such areas include the shophouses at Thomson Village and Siglap Village, areas with historic significance like Joo Chiat and Balestier, or coastal gems such as Changi Point.
3.12 Recognising the significance of such identity areas, the Identity Plan was drawn up in 2002, recognising some 15 identity nodes

22 classified according to their main attributes (i.e. Old World Charm, Southern Ridges and Hillside Villages, Urban Villages and Rustic Coast). Various strategies were taken for these areas, including recognising and retaining familiar built and natural elements, enhancing the local infrastructure (such as improving sidewalks and adding carparks), and injecting new spaces for the community

23. Since then, environmental improvement works have been implemented for areas like Changi Point and Siglap Village, and works have commenced for Upper

[Fisherman]

Not surprising. Landed at $2 to $3 million nowadays is pretty affordable especially rebuilt ones. Don't forget contruction costs had also gone up substantially in line with inflationary pressures! Notice GOLD has now gone beyond USD1,600 per troy oz!

[proper-t]

If you want to punt before the report is officially released, you can selectively pick up units in Joo Chiat. My gut feel is that the entire row of shophouses along Joo Chiat could be rejuvenated so try to pick the landed around neighbouring roads.

For Siglap V, my feel is there are greater possibilities for rejuvenation and the entire area could be turned into a Holland V of sorts. My pick would be the Frankel area or a bit further down, the Dunbar and/or Keris areas.

[august]

If you want to punt before the report is officially released, you can selectively pick up units in Joo Chiat. My gut feel is that the entire row of shophouses along Joo Chiat could be rejuvenated so try to pick the landed around neighbouring roads.

For Siglap V, my feel is there are greater possibilities for rejuvenation and the entire area could be turned into a Holland V of sorts. My pick would be the Frankel area or a bit further down, the Dunbar and/or Keris areas.

bcos there are next to zero HDBs in joo chiat constituency, the PAP MPs could only over the yrs keep doing upgrading to roads, sidewalks and drains.

being awarded some preservation or heritage status is gd for publicity but may hv some pitfalls bcos if ura requires facades to be maintained etc, guess these expenses come out from whose pockets?

[howgozit]

If you want to punt before the report is officially released, you can selectively pick up units in Joo Chiat. My gut feel is that the entire row of shophouses along Joo Chiat could be rejuvenated so try to pick the landed around neighbouring roads.

For Siglap V, my feel is there are greater possibilities for rejuvenation and the entire area could be turned into a Holland V of sorts. My pick would be the Frankel area or a bit further down, the Dunbar and/or Keris areas.

My gut feel is that the rejuvenation would be closer to Siglap/East Coast Road junction. There are 4 blocks of old 1bedrm HDB flats near the junction that has been there for ages. It is way due for an enbloc.

I think it is unlikely HDB would build new HDB lats over these old HDB flats, the land there is too valuable plus the plot ratio due to building height restrictions will render them too expensive to sell as HDB. That space is a space to look out for.

[proper-t]

My gut feel is that the rejuvenation would be closer to Siglap/East Coast Road junction. There are 4 blocks of old 1bedrm HDB flats near the junction that has been there for ages. It is way due for an enbloc.

I think it is unlikely HDB would build new HDB lats over these old HDB flats, the land there is too valuable plus the plot ratio due to building height restrictions will render them too expensive to sell as HDB. That space is a space to look out for.

Yep, Agree with you. The block of flats there are really old. Also the entire row of old shophouses from the tyre shop all the way to the coffeshop next to the drain need to be rejuvenated too but I think they are privately owned so could be tough. Think they will try to increase parking space and amenities such as parks and walkways. Look at Serangoon Gardens. It is very different now from before.

[ysyap]

So what is the asking of these super old HDB flats if they are already sitting pretty on pricey lands?

[howgozit]

Yep, Agree with you. The block of flats there are really old. Also the entire row of old shophouses from the tyre shop all the way to the coffeshop next to the drain need to be rejuvenated too but I think they are privately owned so could be tough. Think they will try to increase parking space and amenities such as parks and walkways. Look at Serangoon Gardens. It is very different now from before.

The original rumour for the block of old flats was to make way for MRT. Only that could justify relocating the residents of the flats. However, that has somewhat been debunked by the latest sightings of soil testing along Marine Parade.

From I am told, the row of shophouses(KFC, Pizza Hut) with apartments on top opposite Siglap Centre has been sold enbloc. Something new will emerge there in a few years time. A residential retail mix

As for the shop houses on Siglap Centre side, I think they are here to stay as they are privately owned. I actually think they are quite quaint and the mix of shops are pretty good, the atmosphere in that area is still laidback with plenty of food options. As it is, there are already 2 supermarkets (NTUC and Cold Storage), banks, fast food...etc there, Siglap V will inject more vibrancy.

I think the whole area will be quite exciting in the next few years, less crowded than Katong but more hip than Joo Chiat.

[howgozit]

So what is the asking of these super old HDB flats if they are already sitting pretty on pricey lands?

Hard to tell, there are not many units there and no one is selling.

These 1bedrm HDB are the original MMs in Singapore. I would think the residents are not looking forward to an enbloc. The HDB compensation would be meagre with an offer for a relocation to a new HDB flat at a discount. A majority of the residents there are of the lower income group and relocating even at a discount may be out of their reach..

Furthermore, they won't be able to get such a location, smack in the heart of pricey private properties.

[ysyap]

Hard to tell, there are not many units there and no one is selling.

These 1bedrm HDB are the original MMs in Singapore. I would think the residents are not looking forward to an enbloc. The HDB compensation would be meagre with an offer for a relocation to a new HDB flat at a discount. A majority of the residents there are of the lower income group and relocating even at a discount may be out of their reach..

Furthermore, they won't be able to get such a location, smack in the heart of pricey private properties.

So before enbloc fever reach them, they should really consider selling at a good price because of their location and then relocate. Otherwise, whatever the govt gives for their unit, they will still have to fork out a small sum whcih they might not have, for the discounted new HDB flats.

[Duku]

Tembeling Road too altho' its really small land area.:

LANDED HOUSING DEVELOPMENT TEMBELING ROAD
Type:Terrace House
Price: 2,630,000
Area : 1,220
S$psf:2,157
Date: Jun-11

Those r for newly build.
Land only price is above 1000psf now
Those that are rebuild one or two years ago are going for at least 1200 to 1500 psf

Land use to double every 8 years. Now it takes less than 5 years to do it!