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Thread: Darren Soh | Photographer Blocks 1-7 Everton Park.

  1. #1
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    Default Darren Soh | Photographer Blocks 1-7 Everton Park.

    Which HDB estate in Singapore was originally built only for a very specific group of workers?
    Which HDB estate in Singapore was the first to undergo major upgrading?
    Which HDB estate was the first to receive a lift upgrading?
    Which HDB estate has gone through major upgrading twice in its lifetime?
    The answers to all four questions above might surprise you because they are all the same - Blocks 1-7 Everton Park.

    Originally completed in 1965 as a HDB project for the then Singapore Harbour Board, it was not uncommon then for the statutory board to build housing projects for other government agencies. The Straits tImes reported on 30 December 1963 that:
    “The project is part of a $10 million scheme which the Prime Minister, Mr. lee Kuan Yew, asked the Housing and Development Board to build for port workers.
    Work will start in February and is expected to be completed by May 1965.
    It will have 762 three-room and 222 two-room flats.”
    You can read the report as well as view an artist’s impression of the scheme here:
    https://eresources.nlb.gov.sg/newspa...TFqBjUbXjyrPHI
    The blocks served only port workers and their families till 1977, when it was announced that the estate would be redeveloped and that the port workers would have to relocate.
    In February 1979, the HDB started work to convert the flats “which are mostly two- and three-room units… into more spacious and better three- and five-room flats.”
    The report from the New Nation is here (albeit with a couple of errors):
    https://eresources.nlb.gov.sg/newspa...5FDZ0LX3hVp7Qs
    The HDB Annual Reports from 1978 to 1980 documented the conversion of these flats very meticulously, including mentions in the HDB 1978/79 and 1979/80 Reports that because the flats at Everton Park originally only had one lift per block, new lift shafts and lifts were added during the major upgrading exercise of the late 1970s.
    In February 1980, the flats were put up for sale with a lease starting from 1980:
    https://eresources.nlb.gov.sg/newspa...jkz_YEnLVlGK1U
    After 15 years and one major makeover with the addition of new lifts, the flats in the seven blocks at Everton Park were finally sold to homeowners. It was the first time (but not the last) that the HDB would convert blocks of flats en masse without sitting tenants in them.
    In end 1995, the government announced that Everton Park had been selected for the 7th batch of Main Upgrading where residents wold have to vote for or against upgrading.
    This polling took place a year later in November 1996 and Senior Minister Lee Kuan Yew (who was of course till Member of Parliament for the precinct), gave a speech where he noted that:
    “The value of HDB flats has increased many times over. This is the result of continuing high economic growth, stable political situation, huge investments by the government in infrastructure, and high compulsory and voluntary savings. Everton Park land is very central. So the value of your flats have gone up more than those in other estates. The flats you bought were $24,700 to $27,500 for three-room flats, and $55,600 for 5-room flats. This year, the average transacted prices in the open market was $160,000 to $210,000 for three-room flats and $410,000 to $480,000 for 5-room flats. Their values have increased by eight times.”
    He also of course encouraged residents to vote FOR upgrading by using the “asset enhancement” reasoning mentioned a lot by then Prime Minister Goh Chok Tong in order to convince residents to say YES to upgrading. SM Lee said:
    “After upgrading, the value of your flat will go up higher. Resale prices of flats after main upgrading have gone up by 40 to 50 per cent. The Government is committing large financial resources to upgrade old HDB estates. This programme will increase the wealth of our householders.”
    The sales pitch worked wonders for over 96% of residents voted in favour of Everton Park’s upgrading in December 1996. Work started in 1997 and was completed in 2000.
    Most recently, a 3-Room flat in Block 2 Everton Park sold for $500,000 in August 2021 and a 5-Room flat in Block 4 sold for $840,000 in May 2021. Considering that these flats are now 41 years old and nearing the halfway mark of their 99-year leasehold lifespan, these prices, while surprising at first look, are perhaps more indicative of trends in rising property prices all around



    https://www.facebook.com/darrensohph...36005089749628
    The Best Time to buy Property is Yesterday.
    If you lose Money it because you sell on a wrong Day.

    https://wa.me/6587821025

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    You don't Buy others will Buy.
    You don't Sell, others will Sell.

  2. #2
    Join Date
    Jun 2009
    Location
    Southbank
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    Default Re: Darren Soh | Photographer Blocks 1-7 Everton Park.

    The Best Time to buy Property is Yesterday.
    If you lose Money it because you sell on a wrong Day.

    https://wa.me/6587821025

    https://r057844h.propnex.net/

    You don't Buy others will Buy.
    You don't Sell, others will Sell.

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