HDB to redevelop Tanglin Halt and build integrated development
Wong Siew Ying, head of research and content at PropNex, says the Tanglin Halt Cascadia BTO work brought in 1,193 applicants, translating to an application rate of 1.23 times. Wong states: “This was quite mild, granted the location’s city fringe spot in the prominent Queenstown area. We believe the new flats at the Tanglin Halt integrated development ought to likely see a warmer response when they are launched for sale, as purchasers often tend to be drawn to integrated advancements.”
Lee Sze Teck, Huttons Asia’s senior executive of information analytics, says the Tanglin Halt incorporated development will certainly be a brand-new site in the location. “It is good to consider that some elements of the old food center and market will be included right into the new property development.”
The brand-new integrated project will likely consist of a hawker centre, market and polyclinic in addition to up to 5,500 new non commercial apartments, Senior Minister of State, Ministry of National Development and Ministry of Communications and Information Tan Kiat How announced on Oct 19.
Lee adds in that the new prime location real estate (PLH) and build-to-order (BTO) flats can go beyond 40 floors and might yield in between 700 and 800 flats.
” The sorts of condos may vary from two-room flexi to four-room to provide for a large range of purchasers who want to stay in this landmark advancement. Prices for a four-room level can start from $550,000 to as high as $720,000,” says Lee. The very first of the PLH BTO venture is the 973-unit Tanglin Halt Cascadia that was introduced for business this month.
To be finished in 2 stages, the development is going to be located at the former Tanglin Halt Neighborhood Centre spot, mentioned the minister in his speech at the HDB Professional Engagement and Knowledge-sharing (PEAK) Forum. The previous Commonwealth Drive Food Centre and existing Tanglin Halt Market remain in the neighbourhood centre.
Wong adds that Tanglin Halt Cascadia flats were priced from $364,000 to $509,000 for three-room apartments and $537,000 to $702,000 for four-room flats before grants. “It is rather feasible that brand-new flats at the future Tanglin Halt integrated development could be valued a little higher, provided its host of establishments throughout the property, yet will likely still be much more reasonably priced than prices in the reselling market.”
The improvement of Tanglin Halt estate will certainly provide newer families to the area and infuse greater vibrancy into the neighbourhood, Wong incorporates.
Tanglin Halt estate, one of Singapore’s first public housing estates in Queenstown, are going to be redeveloped into a brand-new integrated advancement.
Lee says much more condos, in addition to brand-new business amenities and social and communal centers, are expected to launch next year. This will certainly bring attraction to existing resale housing in the area, such as Commonwealth View, which is much sought after for its top location and panoramas. “There may be more million-dollar apartments in Commonwealth View in the future.”