Results 1 to 5 of 5

Thread: Private housing takes off in Punggol

  1. #1
    Join Date
    Oct 2011
    Posts
    10,829

    Default Private housing takes off in Punggol

    http://www.straitstimes.com/Money/St...ry_725165.html

    Private housing takes off in Punggol

    8 new home sites within last 12 months could add more than 5,000 homes

    Published on Oct 20, 2011

    By Cheryl Lim


    PUNGGOL, Singapore's newest option for waterfront living, is fast entering a new phase of development as private housing takes off in the new town.

    The Government has just announced the release of a large 1.8ha private condo site, right next to Punggol MRT station, which is able to yield 540 homes.

    The site is just the latest in a string of new home sites in Punggol. Seven other residential sites have been put up for sale, sold or developed in the last 12 months.

    These eight plots could add more than 5,000 homes over the next few years.

    Analysts note that public flats are usually the first type of homes introduced into a new area as they help build critical mass. Then private homes pave the way for the next wave of development.

    'It's partially because private developments are meant for upgraders within the estate,' said Mr Colin Tan, head of research and consultancy at Chesterton Suntec International. 'If most of the public housing in an area has been occupied for less than the five-year minimum occupation period, then it's difficult to shore up demand for the project,' he added.

    The estate, which has long carried the stigma of being too remote, is buzzing. In July, a Frasers CentrePoint-Keong Hong Construction partnership bagged an executive condo (EC) site at the Punggol Way-Punggol Field junction.

    ECs are a public-private housing hybrid and eventually become fully private.

    A few weeks ago, a joint venture company consisting of Capital Development and ZACD Investment clinched another residential plot at Punggol Field.

    Still, some home buyers have snubbed the new town, saying it lacks the well-established infrastructure of neighbourhoods such as Toa Payoh and Tampines.

    But many others, like Ms Vivien Poh, are unfazed by this, banking instead on the area's development potential.

    The 51-year-old financial consultant said: 'Many years ago, I was captivated by Punggol after seeing the pictures of the Punggol Waterway project... Some people say the town lacks facilities and infrastructure but it reminds me of what Tampines was like back when it was first established. Now it's not easy to buy a place in Tampines. It's all about looking into the future.'

    Like-minded buyers have boosted sales at several large projects there.

    Despite being some distance away from an MRT station, Qingjian Realty's RiverParc Residence EC project has sold 99 per cent of its 504 units since its July launch, at an average price of $670 psf.

    Sales at projects closer to the Punggol MRT station have performed even better.

    Prive, another EC, has sold all 680 units. More than 270 units were snapped up on the first day of its launch last December. Since then, units have been sold at an average price of $680psf.

    A more recent development, A Treasure Trove by Sim Lian Group, has moved more than 730 of the 882 units, with units fetching a median price of $915 psf.

    The newest is Watertown, an upcoming mixed-use project by Frasers Centrepoint, Far East Organization and Sekisui House. The Straits Times understands starting prices for the more than 900 units are set to be above $1,000 psf.

    Market experts say the success of such projects will encourage town planners to consider releasing more sites for sale.

    Two other plots are up for grabs. The latest 1.8ha site, at the corner of Punggol Central and Punggol Place, will be put up for sale on Oct 27 and the tender for a site at the corner of Punggol Central and Edgedale Plains will close on Nov 3. That plot can yield an estimated 610 units.

    Although the new town is far from the city and the Central Business District, Mr Tan Kok Keong, head of research at OrangeTee, said buyers can get good value at Punggol, given the $13 million plan to put in attractions like a promenade and activities like horse-riding and fishing.

    'If more commercial properties come up closer to Punggol, it could mean more employment opportunities nearer to the town and that would mean an even bigger boost for Punggol's appeal.'

    [email protected]

  2. #2
    Join Date
    Jun 2010
    Posts
    1,140

    Default

    Quote Originally Posted by reporter2
    http://www.straitstimes.com/Money/St...ry_725165.html

    Private housing takes off in Punggol

    8 new home sites within last 12 months could add more than 5,000 homes

    Published on Oct 20, 2011

    By Cheryl Lim


    PUNGGOL, Singapore's newest option for waterfront living, is fast entering a new phase of development as private housing takes off in the new town.

    The Government has just announced the release of a large 1.8ha private condo site, right next to Punggol MRT station, which is able to yield 540 homes.

    The site is just the latest in a string of new home sites in Punggol. Seven other residential sites have been put up for sale, sold or developed in the last 12 months.

    These eight plots could add more than 5,000 homes over the next few years.

    Analysts note that public flats are usually the first type of homes introduced into a new area as they help build critical mass. Then private homes pave the way for the next wave of development.

    'It's partially because private developments are meant for upgraders within the estate,' said Mr Colin Tan, head of research and consultancy at Chesterton Suntec International. 'If most of the public housing in an area has been occupied for less than the five-year minimum occupation period, then it's difficult to shore up demand for the project,' he added.

    The estate, which has long carried the stigma of being too remote, is buzzing. In July, a Frasers CentrePoint-Keong Hong Construction partnership bagged an executive condo (EC) site at the Punggol Way-Punggol Field junction.

    ECs are a public-private housing hybrid and eventually become fully private.

    A few weeks ago, a joint venture company consisting of Capital Development and ZACD Investment clinched another residential plot at Punggol Field.

    Still, some home buyers have snubbed the new town, saying it lacks the well-established infrastructure of neighbourhoods such as Toa Payoh and Tampines.

    But many others, like Ms Vivien Poh, are unfazed by this, banking instead on the area's development potential.

    The 51-year-old financial consultant said: 'Many years ago, I was captivated by Punggol after seeing the pictures of the Punggol Waterway project... Some people say the town lacks facilities and infrastructure but it reminds me of what Tampines was like back when it was first established. Now it's not easy to buy a place in Tampines. It's all about looking into the future.'

    Like-minded buyers have boosted sales at several large projects there.

    Despite being some distance away from an MRT station, Qingjian Realty's RiverParc Residence EC project has sold 99 per cent of its 504 units since its July launch, at an average price of $670 psf.

    Sales at projects closer to the Punggol MRT station have performed even better.

    Prive, another EC, has sold all 680 units. More than 270 units were snapped up on the first day of its launch last December. Since then, units have been sold at an average price of $680psf.

    A more recent development, A Treasure Trove by Sim Lian Group, has moved more than 730 of the 882 units, with units fetching a median price of $915 psf.

    The newest is Watertown, an upcoming mixed-use project by Frasers Centrepoint, Far East Organization and Sekisui House. The Straits Times understands starting prices for the more than 900 units are set to be above $1,000 psf.

    Market experts say the success of such projects will encourage town planners to consider releasing more sites for sale.

    Two other plots are up for grabs. The latest 1.8ha site, at the corner of Punggol Central and Punggol Place, will be put up for sale on Oct 27 and the tender for a site at the corner of Punggol Central and Edgedale Plains will close on Nov 3. That plot can yield an estimated 610 units.

    Although the new town is far from the city and the Central Business District, Mr Tan Kok Keong, head of research at OrangeTee, said buyers can get good value at Punggol, given the $13 million plan to put in attractions like a promenade and activities like horse-riding and fishing.

    'If more commercial properties come up closer to Punggol, it could mean more employment opportunities nearer to the town and that would mean an even bigger boost for Punggol's appeal.'

    [email protected]
    Overcrowding..... a good town should have a balance of everything, i.e. some landed homes to colour the place as well.

  3. #3
    Join Date
    Nov 2008
    Posts
    9,217

    Default

    The nearby waterway is already opened to public. At last, growing and attracting people here.
    Quote Originally Posted by solsys
    Overcrowding..... a good town should have a balance of everything, i.e. some landed homes to colour the place as well.

  4. #4
    Join Date
    Jul 2009
    Posts
    7,482

    Default

    There was suppose to be some fireworks display tonight.

  5. #5
    Join Date
    Jul 2011
    Location
    Earth
    Posts
    4,063

    Default

    Quote Originally Posted by kane
    There was suppose to be some fireworks display tonight.
    Ya lor.....
    http://www.youtube.com/watch?v=9s1Y_ayhWqU
    http://www.youtube.com/watch?v=HSZZqn7rCyQ

Similar Threads

  1. Hong Leong Group takes top spot in private home sales
    By reporter2 in forum Singapore Private Condominium Property Discussion and News
    Replies: 0
    -: 30-01-14, 11:45
  2. Hong Leong Group takes top spot in private home sales
    By princess_morbucks in forum Singapore Private Condominium Property Discussion and News
    Replies: 1
    -: 25-01-14, 15:48
  3. Replies: 0
    -: 19-04-13, 19:52
  4. Singapore takes new steps to cool housing market
    By Ringo33 in forum Singapore Private Condominium Property Discussion and News
    Replies: 805
    -: 02-11-12, 09:30
  5. NEW CM!!! Singapore takes new steps to cool housing market
    By price in forum Singapore Private Condominium Property Discussion and News
    Replies: 3
    -: 05-10-12, 19:38

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •