{"id":107202,"date":"2019-05-17T09:02:38","date_gmt":"2019-05-17T02:02:38","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/8-most-affordable-new-condos-for-hdb-upgraders\/"},"modified":"2019-05-17T09:04:49","modified_gmt":"2019-05-17T02:04:49","slug":"8-most-affordable-new-condos-for-hdb-upgraders","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/8-most-affordable-new-condos-for-hdb-upgraders\/","title":{"rendered":"8 Most Affordable New Condos For HDB Upgraders"},"content":{"rendered":"


\nDespite higher ABSD rates, there are still options in the market that may yet keep your condo dream alive. In this article, we rounded up 8 new projects that hover around the $1,300 psf threshold.\u00a0
\nThe introduction of last year\u2019s property cooling measures has no doubt hampered the housing ability for many Singaporeans. In July 2018, the government raised the Additional Buyer\u2019s Stamp Duty (ABSD) rates by five percentage points for individuals, while the loan-to-value limits were also tightened.
\nThe hefty increase in cash outlay now required for a home\u2019s down payment affects particularly HDB home owners who aspire to upgrade to private residential properties.
\nDespite this, there are still options in the primary market that may yet keep your condo dreams alive.\u00a0
\nFor a start, we\u2019ve rounded up the most affordable new condos for HDB upgraders in the year 2019. With a larger cash outlay and budget constraints in mind, we zoomed in on new developments whose average transacted prices hover around $1,300 per square foot \u2013 a comfortable entry level pricing for suburban condominiums.
\nOnly new developments that registered five or more sales transactions within the first five months of the year 2019 were considered in our analysis.
\n\u00a0
\nMost affordable new condos for HDB upgraders in 2019
\nSource: PropertyGuru, URA
\n\u00a0
\nValue-for-money properties
\nBuyers\u2019 price sensitivity and dwindling demand for new private homes have been observed in the dip in new sales transactions in the month of April.
\nUnsurprisingly, the top selling private residential projects in the same month are those that are relatively more affordable, especially those located in Outside Central Region (OCR).
\nThey include those we\u2019ve already indicated on our list, such as Parc Botannia, Treasure at Tampines and Riverfront Residences, whose average transacted prices hover around the $1,300 threshold.
\nComparatively, new projects in OCR transacted at an average of $1,512 psf in the first five months of 2019, with Seaside Residences (avg $1,979 psf) and the newly-launched The Gazania (avg $2,087 psf) took the lead as some of the most expensive new residential projects in the market region.
\nLooking to buy a private condo? Get more insights on the right locations for your new home at\u00a0AreaInsider.
\n\u00a0
\nEye on the East
\nHomes in the East have risen in popularity amongst growing families in recent years due to the revival of suburban localities, the establishment of new growth corridors and new transportation links in the region.
\nFor instance, residents in the East will soon enjoy more MRT links to the city and to the northern parts of the island with the upcoming Thomson-East Coast Line (TEL).
\nThis can be observed in the strong take-ups of new private homes in the region, as seen in last year\u2019s launch of the 861-unit The Tapestry, and the recent launch of the mega-project Treasure at Tampines. The latter comprises 2,203 units and is touted as Singapore\u2019s largest condo development.
\nAbout 315, or 70 per cent of the 450 units released at The Tapestry were snapped up at an average price of $1,310 psf during its launch weekend in March 2018.
\nMeanwhile, Treasure at Tampines moved 272 units, or 56 per cent of the 490 units released at an average price of $1,280 psf during its launch weekend in March 2019.
\nOn its healthy take-up rate, a spokesperson at Sim Lian \u2013 the project\u2019s developer \u2013 said it was an affirmation that projects with \u201cgood location, great accessibility and competitive pricing will continue to be well-received.\u201d HDB upgraders are said to make up the bulk of buyers of the mega-project.
\nWith that, Treasure at Tampines\u2019 launch is expected to influence home prices within the area this year and the following year.
\nFeeling the pinch of paying more upfront after new measures in 2018? Turn back time and save on your new home with the biggest deals in town! Get it now at: www.propertyguru.com.sg\/gurudeals
\nFiona Ho, Digital Content Manager at PropertyGuru, wrote this story. To contact her about this or other stories, email\u00a0fiona@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…8 Most Affordable New Condos For HDB Upgraders<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Despite higher ABSD rates, there are still options in the market that may yet keep...<\/p>\n","protected":false},"author":1,"featured_media":107203,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-107202","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-news"],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2019\/05\/8-most-affordable-new-condos-for-hdb-upgraders4-e1558057671664.png?fit=900%2C259&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-rT4","jetpack-related-posts":[{"id":137090,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/some-condos-offer-discounts-150-hdb-flat-owners-caught-buying-private-homes-within-mop-and-more\/","url_meta":{"origin":107202,"position":0},"title":"Some Condos Offer Discounts, 150 HDB Flat Owners Caught Buying Private Homes Within MOP, and More","date":"May 22, 2023","format":false,"excerpt":"\r Some Condos Offer Discounts, 150 HDB Flat Owners Caught Buying Private Homes Within MOP, and More16 to 22 May 2023 Several condominium projects, mostly in the Core Central Region (CCR), have offered discounts to attract buyers in April and May 2023. 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