{"id":126891,"date":"2022-05-31T02:13:54","date_gmt":"2022-05-30T19:13:54","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/launch-of-the-may-2022-bto-projects-nine-hdb-blocks-in-marsiling-to-make-way-for-woodlands-checkpoint-expansion-and-more\/"},"modified":"2022-05-31T10:22:33","modified_gmt":"2022-05-31T03:22:33","slug":"launch-of-the-may-2022-bto-projects-nine-hdb-blocks-in-marsiling-to-make-way-for-woodlands-checkpoint-expansion-and-more","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/launch-of-the-may-2022-bto-projects-nine-hdb-blocks-in-marsiling-to-make-way-for-woodlands-checkpoint-expansion-and-more\/","title":{"rendered":"Launch of the May 2022 BTO projects, nine HDB blocks in Marsiling to make way for Woodlands Checkpoint expansion, and more"},"content":{"rendered":"


\nLaunch of the May 2022 BTO projects, nine HDB blocks in Marsiling to make way for Woodlands Checkpoint expansion, and more24th May to 30th\u00a0May 2022
\nProperty analysts do not expect the launch of two new May 2022 BTO projects under the Prime Location Public Housing (PLH) model in Queenstown and Bukit Merah to have a direct and near-term impact on resale prices within the vicinity. Meanwhile, the Woodlands Checkpoint will be expanded beyond the Old Woodlands Town Centre, which will involve the acquisition of nine Housing and Development Board (HDB) blocks nearby.
\n\u00a0
\n1) Launch of two new public housing projects under PLH not to affect current resale prices
\nBukit Merah Ridge, the Bukit Merah May 2022 HDB BTO flats released under the PLH model. Source: HDB
\nProperty analysts do not expect the launch of two new projects in Queenstown and Bukit Merah under the PLH model to have a direct and near-term impact on HDB flat resale prices within the vicinity, reported TODAY.
\nPrices of recently transacted flats within the vicinity are the main determining factor for asking prices of resale flats.
\n\u201cIf a current resale flat in Bukit Merah is already selling at around $750,000, a seller probably will not raise it to ask for $900,000 just because the prime location model flats were announced,\u201d said Christine Sun, OrangeTee & Tie\u2019s Senior Vice-president of Research and Analytics.
\nThe Housing and Development Board (HDB) launched a total of 4,583 Build-to-Order (BTO) flats for this month\u2019s May 2022 BTO exercise, including two projects under the PLH model. Another 1,952 flats under the Sale of Balance Flats (SBF) scheme were also offered.
\nMeanwhile, National Development Minister Desmond Lee said the number of BTO projects that have been delayed by six months or more has declined to 58 as of April this year from 74 over the same period last year, reported Channel News Asia.
\nThis means less than 60% of all BTO projects faced such delays this year, compared to over 80% last year.
\nThe enduring BTO construction delays have pushed young families into the HDB resale market. In turn, HDB resale flat prices have climbed to a record high, growing for 22 consecutive months. According to the PropertyGuru\u00a0Singapore Property Market Report Q2 2022, prices are expected to hover at this peak or make small gains, until the BTO supply is restored.
\n\u00a0
\n2) Nine HDB blocks in Marsiling to make way for Woodlands Checkpoint expansion
\nThe Woodlands Checkpoint will be expanded beyond the Old Woodlands Town Centre, which will involve the acquisition of nine Housing and Development Board (HDB) blocks nearby.
\nBlocks 210 to 218 at Marsiling Crescent\/Lane comprises 732 sold flats, 53 rental flats, six rental shops, one rental kiosk, and one rental eating house.
\nAffected flat owners will be offered the same benefits as those under the Selective En Bloc Redevelopment Scheme (Sers), including compensation based on their flat\u2019s market value and the option to buy a new HDB flat with a fresh 99-year lease.
\nTenants will also get rehousing and clearance benefits.
\nThe affected residents and tenants will have priority for about 1,100 new replacement flats that will be built at Woodlands Street 13. Construction of such flats will commence in Q3 2023 and is estimated to be completed by Q4 2027.
\nThe last time HDB announced that flats would be selected for redevelopment under Sers was in April 2022. Four\u00a0HDB blocks in Ang Mo Kio Ave 3 were chosen, with\u00a0more than\u00a0600 households affected by the decision. Prior to this, the last Sers announcement came\u00a0in May 2018,\u00a0with three blocks in MacPherson Lane being selected.
\n\u00a0
\n3) HDB mulls offering open-plan flats to provide home buyers more flexibility
\nOpen space dining and living area.
\nThe government mulls designing HDB flats with more open floor plans to give homeowners more flexibility to reconfigure their units based on their needs, reported The Straits Times citing Minister for National Development Desmond Lee.
\nLee pointed that some of the flat buyers may want rooms that are suitable for teleconferencing and working from home, while others may opt for bigger rooms.
\nObservers said the move will help homebuyers who conduct major renovations upon receiving their flats.
\nHowever, Nicholas Mak, ERA Real Estate\u2019s Head of Research and Consultancy, noted that such flexibility will likely apply only to bigger flats given that there is more space to play around with.
\nWhile HDB flat sizes have not changed since 1997,\u00a0HDB flats\u00a0have become smaller over the years. Alongside the interior design trend for open-floor plans, more families are opting to knock down walls to enjoy larger living spaces.
\nRelated article:\u00a0HDB Floor Plans Over the Years: How 3 Homeowners Have Adapted to Changes
\n\u00a0
\n4) Lakeside Apartments sold en bloc for $273.89mil to Wing Tai unit<\/p>\n

Lakeside Apartments at Yuan Ching Road has been sold en bloc for $273.89 million, which is 14% above the owners\u2019 $240 million reserve price, revealed exclusive marketing agent PropNex Realty.
\nThe 120-unit development was sold to Wing Tai Holdings\u2019 subsidiary, Winville Investment.
\nIn an SGX filing, Wing Tai revealed plans to redevelop the 12,465 sq m (about 134,177 sq ft) site into a residential development with over 300 units and \u201cwaterfront views of Jurong Lake as well as the lush greenery of the Jurong Lake, Chinese and Japanese Gardens\u201d.
\nOwners of the 99-year leasehold development made its second attempt at a collective sale in March this year, after its failed bid in 2019.
\n\u201cThe tender was hotly contested due to its attractive location with spectacular views overlooking Jurong Lake Gardens, and its proximity to the Jurong Lake District which is envisioned to be a vibrant regional commercial hub and tourist destination,\u201d said PropNex\u2019s Head of Investment and Collective Sales Tracy Goh.
\nThe nearest MRT station to Lakeside Apartments is Lakeside, giving residents access to the East West Line. Nearby shopping malls include\u00a0JCube, Westgate, Jem, IMM, and Jurong Point. Parents with young children can send their kids to\u00a0Lakeside Primary School and Rulang Primary School. Choice schools\u00a0like\u00a0River Valley High School are also a short distance away.
\n\u00a0
\n5) Four-bedder at The Nassim sold for $20mil<\/p>\n

A four-bedroom freehold apartment at The Nassim has been sold for $20 million or a record price of $4,915.21 per sq ft (psf).
\nCBRE Singapore, which brokered the sale, revealed that the unit has a total gross floor area (GFA) of about 4,069 sq ft and had undergone major refurbishment to feature a whisky bar and wine storage display cabinet, among others.
\n\u201cAn opportunity like this is hard to come by, considering that there are so few four-bedroom units above 4,000 sq ft available in the market for sale and in a move-in condition,\u201d said Tricia Ang, CBRE\u2019s Vice President for Residential Services at Singapore.
\nShe noted that the luxury residential market has not been severely impacted by the property cooling measures introduced by the government in December 2021. In the first four months of 2022, 15 luxury apartments above $10 million each were transacted compared to 16 over the same period last year.
\nWhile the luxury market has remained unscathed, the same cannot be said for the non-landed private property market. The lack of new launches in Q1 2022 saw sales volume slump and price growth slow in the first quarter of the year. However, the major\u00a0Q2 2022 launches \u2013 North Gaia EC, LIV @ MB, and Picadilly Grand \u2013 are likely to bring some cheer to the market this quarter.
\nRelated article: New Launch Condos and ECs for 2022: 11 Upcoming Projects We Can Expect
\n\u00a0
\n6) Prime location HDB projects receive stronger buyer response than other BTO projects
\nRiver Peaks I & II, the first BTO flats launched under the PLH model during the November 2021 BTO exercise. Source: HDB
\nThe first two projects launched under the\u00a0PLH model in Rochor received \u201cgood response\u201d, with about 80% of the buyers who were invited to take part in the selection process have proceeded to book their flats, reported TODAY citing National Development Minister Desmond Lee.
\nThe figure is higher than the average 60% seen for most\u00a0BTO projects.
\nProperty experts attributed the stronger take-up of the PLH projects to the height of the housing blocks, which is 47 storeys.
\n\u201cThe flats are going to be taller than the older resale flats in the location and given that it is younger than other flats nearby, when they go to the resale market, the price will be higher. Everything spells to eventual price appreciation,\u201d said Nicholas Mak, ERA Singapore\u2019s Head of Research and Consultancy.
\nThe Housing and Development Board (HDB) website showed that the two PLH projects \u2013 River Peaks I & II \u2013 launched in November last year saw almost 7,000 applicants vying for the 680 units offered.
\nAs of 31 May 2022, 11am,\u00a0the number of applications received for 3-room and bigger flats for the May 2022 BTO exercise\u00a0shows the Yishun launch is the most popular.
\nSource: HDB
\nThe final figures will come in on 3 June 2022, 2pm.
\n\u00a0
\n7) More developers expect home prices to increase
\nA new survey showed that about 71% of developers in Singapore expect unit prices of new residential launches within the next six months to be moderately or substantially higher, reported The Business Times.
\nThe Q1 2022 Real Estate Sentiment Index (RESI) \u2013 published by the National University of Singapore Real Estate \u2013 also showed that about 24% of developers expect prices at new launches to remain at the same price level, while 5% see prices dropping substantially.
\nComparatively, the Q4 2021 poll showed that about 60% of respondents expected new launches to be moderately or substantially higher, while 35% expected prices to maintain at the same level.
\nNotably, Savills expect residential property prices to increase 7% year-on-year this year as the industry is seen as a hedge against inflation as well as the shrinking inventory of unsold stock, reported Singapore Business Review.
\n\u201cWith global inflation expected to persist for the rest of 2022, the yearning to hedge against it using residential properties will remain strong, despite expectations that interest rates are expected to rise further,\u201d said Savills.
\n\u00a0
\n8) Primary sales of private homes to moderate to over 10,000 units
\nEdmund Tie & Company expects primary sales for private homes to moderate to more than 10,000 units, amid slower overall launch activity, reported Singapore Business Review.
\nThe market\u2019s anticipated moderate performance could also be due to tighter financing rules and rising interest rates.
\nBuyers are also expected to take a \u201cwait-and-see\u201d stance as they observe the impact of the cooling measures introduced in December last year, said the property consultancy firm.
\nBut for the Rest of Central Region (RCR) and Outside Central Region (OCR) market segments, the sustained economic growth and border reopening may fuel demand for private homes.
\nWhile private home sales are expected to be moderate, the opposite is true for the private rental market. With borders reopening, expatriates have begun returning to the city in droves, evidenced by the spike in rental private property asking prices recorded on PropertyGuru in Q1 2022. In the coming quarter, it is expected that\u00a0the already red-hot rental\u00a0market will continue to gain momentum, with prices soaring amid declining supply.
\n\u00a0
\n9) Proposals for Paya Lebar Air Base to be ready next month
\nProposals for the Paya Lebar Air Base area \u2013 which will be freed up for development once the airbase relocates in 2030 \u2013 are expected to be ready next month, reported The Straits Times.
\nCurrently, two teams from the Singapore Institute of Planners and the Singapore Institute of Architects (SIA) are developing the conceptual ideas and proposals for the 800ha site.
\nSIA President Melvin Tan shared that the concept master plan for the site has already been completed and the teams are now moving on to the urban design phase, which is set to be completed next month.
\nHe noted that the public sector has now been engaging more extensively with the public and the private sector in the long-term plan review.
\n\u00a0
\n10) Pair of Chinatown shophouses up for sale for $53mil
\nA pair of three-storey shophouses at 79 and 81 Pagoda Street in Chinatown has been put up for sale, with a guide price of $53 million, revealed exclusive marketing agent Savills Singapore.
\nRebuilt in 1995, the shophouses feature a basement and attic levels. It has also been installed with a passenger lift and is fully leased to a food and beverage operator.
\nThe freehold shophouses occupy a combined land area of about 2,493 sq ft site that is zoned for \u201cCommercial\u201d use under the 2019 Master Plan.
\nLocated near the Chinatown MRT Interchange Station, the shophouses are also a mere five-minute walk to the Central Business District (CBD).
\nThe tender for the shophouses closes on 30 June.
\n\u00a0
\nLooking for a property in Singapore? Visit PropertyGuru\u2019s\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\nCheryl Chiew, Digital Content Specialist at PropertyGuru, edited this story. To contact her about this story, email: cheryl@propertyguru.com.sg.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Launch of the May 2022 BTO projects, nine HDB blocks in Marsiling to make way for Woodlands Checkpoint expansion, and more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Launch of the May 2022 BTO projects, nine HDB blocks in Marsiling to make way...<\/p>\n","protected":false},"author":1,"featured_media":126892,"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-126891","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-news"],"jetpack_featured_media_url":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2022\/05\/singapore-city-buildings.jpg?fit=820%2C410&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-x0D","jetpack-related-posts":[{"id":139803,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/october-2023-bto-launch-details-upcoming-december-2023-bto-launch-information-hfe-letter-delays-and-more\/","url_meta":{"origin":126891,"position":0},"title":"October 2023 BTO Launch Details, Upcoming December 2023 BTO Launch Information, HFE Letter Delays, and More","date":"October 10, 2023","format":false,"excerpt":"\r October 2023 BTO Launch Details, Upcoming December 2023 BTO Launch Information, HFE Letter Delays, and More3 to 9 October 2023 Singapore saw private home prices marginally increase by 0.5% in Q3 2023, following a 0.2% decline in Q2 2023. 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Aside from providing a roof over people\u2019s heads, housing is also considered as one of the biggest assets for over 90% of Singaporean households. In an article\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/12\/HDB-EIP.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":122853,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/first-bto-project-under-new-prime-housing-model-to-be-built-in-rochor\/","url_meta":{"origin":126891,"position":3},"title":"First BTO project under new prime housing model to be built in Rochor","date":"October 27, 2021","format":false,"excerpt":"\r The Rochor BTO project will have 960 units of\u00a0three-room and four-room flats, and 40 units of two-room rental flats. Source: HDB The first project under the new prime location public housing (PLH) model will be built at Rochor and launched at next month\u2019s Build-to-Order (BTO) exercise. Situated along Weld\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/10\/rochor-bto-plh.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":123840,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-to-launch-up-to-23000-new-bto-flats-per-year-over-next-two-years\/","url_meta":{"origin":126891,"position":4},"title":"HDB to launch up to 23,000 new BTO flats per year over next two years","date":"December 16, 2021","format":false,"excerpt":"\r Separately,\u00a0the government has also released five confirmed list sites and eight reserve list sites\u00a0for\u00a0the\u00a01H 2022 GLS programme. To meet \u201cstrong\u201d housing demand, the Housing and Development Board (HDB) will launch up to 23,000 new Build-To-Order (BTO) flats annually over the next two years, reported Channel News Asia (CNA). This\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/12\/SINGAPORE-HDB-FLAT.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":116814,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-to-offer-7800-bto-flats-in-august-sales-exercise\/","url_meta":{"origin":126891,"position":5},"title":"HDB to offer 7,800 BTO flats in August sales exercise","date":"June 1, 2020","format":false,"excerpt":"\r The BTO exercise which was originally scheduled for May, will be combined with August\u2019s launch.\u00a0 The Housing and Development Board (HDB) will combine the Build-To-Order (BTO) exercise originally set for launch in May with the August BTO exercise, it said in a release on 29 May. This means HDB\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/126891"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=126891"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/126891\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media\/126892"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=126891"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=126891"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=126891"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}