{"id":137962,"date":"2023-06-26T06:58:45","date_gmt":"2023-06-25T23:58:45","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-myst-and-lendor-hills-residences-opened-for-preview-on-24-june-2023-tiong-bahru-hdb-flat-sold-for-record-1-5-million-and-more\/"},"modified":"2023-06-26T15:00:31","modified_gmt":"2023-06-26T08:00:31","slug":"the-myst-and-lendor-hills-residences-opened-for-preview-on-24-june-2023-tiong-bahru-hdb-flat-sold-for-record-1-5-million-and-more","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-myst-and-lendor-hills-residences-opened-for-preview-on-24-june-2023-tiong-bahru-hdb-flat-sold-for-record-1-5-million-and-more\/","title":{"rendered":"The Myst and Lendor Hills Residences Opened For Preview on 24 June 2023, Tiong Bahru HDB Flat Sold for Record $1.5 million, and More"},"content":{"rendered":"


\nThe Myst and Lendor Hills Residences Opened For Preview on 24 June 2023, Tiong Bahru HDB Flat Sold for Record $1.5 million, and More20 to 27 June 2023
\nCity Developments Limited (CDL) has opened The Myst \u2013 its 408-unit condominium project in Upper Bukit Timah \u2013 for preview on 24 June 2023, with unit prices ranging between $998,000 and $3.18 million. The 598-unit Lentor Hills Residences also opened for preview on 24 June 2023, with sales booking set to begin on 8 July 2023.
\n\u00a0
\n1. CDL opens The Myst for preview<\/p>\n

City Developments Limited (CDL) has opened The Myst \u2013 its 408-unit condominium project in Upper Bukit Timah \u2013 for preview on 24 June 2023, with unit prices ranging between $998,000 and $3.18 million.
\nThe 99-year leasehold project comprises two 24-storey residential towers and features five unit types: one-bedroom plus study units (517 sq ft), two-bedroom units (678 sq ft), three-bedroom units (850 sq ft), four-bedroom units (1,518 sq ft), and five-bedroom units (1,690 sq ft).
\nPrices for one-bedders start at $998,000, $1.33 million for two-bedroom units, $1.708 million for three-bedroom units, $2.826 million for four-bedroom units, and $3.18 million for five-bedroom units.
\nCDL revealed that around one-third of the units at the development are offered at a \u201csweet spot of $1.5 million and below\u201d.
\nOn the location of this upcoming new launch condo, Dr Lee Nai Jia, Head of Real Estate Intelligence, Data and Software Solutions, PropertyGuru Group commented:\u00a0\u201cWith the advent of hybrid work structures, there has been a marked increase in demand for homes nestled near natural parks and green corridors.
\nResearch underscores that residents in green-rich areas experience less mental stress and enjoy enhanced overall well-being. Proximity to MRT lines further bolsters accessibility to essential amenities, bringing convenience right to the doorstep.
\nThis project uniquely caters to the needs of matured residents seeking to rightsize their living arrangements, as well as younger individuals eager to provide their parents with a serene, yet well-connected home environment.\u201d
\nSales bookings for The Myst will commence on 8 July 2023.
\nRelated article:\u00a0What Do Singaporeans Think About the April 2023 Property Cooling Measures?
\n\u00a0
\n2. Lentor Hills Residences opens for preview, prices start at $945,000<\/p>\n

Lentor Hills Residences, a 598-unit condominium project along Lentor Hills Road, opened for preview on 24 June 2023, with sales booking set to begin on 8 July 2023.
\nJointly developed by Hong Leong Holdings, Guocoland and TID Pte. Ltd., the 99-year leasehold project comprises five towers of eight- to 23-storeys.
\nUnit sizes range from 452 sq ft for one-bedroom units to 1,399 sq ft for four-bedroom units. The project also offers dual key units which range between 1,302 sq ft and 1,399 sq ft.
\nPrices for a one-bedroom unit start from $945,000, $1.356 million for two-bedroom units, $1.822 million for a three-bedroom unit, and $2.535 million for a four-bedroom unit. Meanwhile, the price for dual key units starts from $2.642 million.
\nLentor Hills Residences will be the second new launch condo to debut in the Lentor Hills estate after September 2022\u2019s launch of GuocoLand\u2019s integrated development, Lendor Modern. Dr Tan Tee Khoon, Country Manager \u2013 Singapore, PropertyGuru highlighted: \u201cPreviously, the 605-unit project was met with strong demand and 84%, or 508 of its 605 units, were taken up during its launch weekend at an average price of $2,100 per square foot (PSF).
\nGiven Lentor Hills Residences\u2019 proximity to Lentor MRT on the TEL and nearby amenities, upgraders and first-time homebuyers will be attracted to live in a convenient yet conducive environment at a sweet spot PSF price from $1834 PSF.\u201d
\nLentor Hills Residences is expected to achieve its\u00a0Temporary Occupation Permit\u00a0(TOP) in December 2026.
\n\u00a0
\n3. Tiong Bahru jumbo HDB flat sold for a record $1.5 million
\nA 4-room jumbo HDB flat at 50 Moh Guan Terrace was sold for $1.5 million in May 2023, making it the most expensive HDB resale flat to be transacted.
\nWith a strata area of 176 sq m, the flat is located on the fourth floor of a walk-up apartment building and comes with a 99-year lease that commenced in 1973, revealed Knight Frank.
\nThe transaction eclipsed the previous high set by a 5-room loft at SkyTerrace@Dawson, when it was sold for $1.418 million in June 2022.
\nKnight Frank Property Network Head Evan Chung said the jumbo flat is nestled within the Tiong Bahru estate, surrounded by lush greenery.
\nHe believed the HDB flat\u2019s proximity to artisanal cafes, old local coffeeshops, and a bakery increased its appeal to buyers.
\nKnight Frank noted that flat buyers have increasingly turned to bigger homes since the end of Singapore\u2019s circuit breaker in June 2020. This comes as the COVID-19 pandemic has changed the way people use their home space, contributing to the hike in demand and pushing up prices for larger-sized units.
\n\u201cNotwithstanding headlines of million-dollar HDB apartments being sold, it is reassuring to know that most flats remain within reach,\u201d said Chung.
\nRelated article:\u00a04-room Million-dollar HDB Flats in Singapore: Where Are They Found? (2023)
\n\u00a0
\n4. Tengah flat buyers unhappy over centralised cooling system\u2019s \u201cugly\u201d look
\nWhile they are yet to receive their keys, some Tengah flat buyers have expressed their dissatisfaction over the \u201cugly\u201d look of the centralised cooling system, after seeing online photos of them in a flat, reported\u00a0CNA.
\nSP Group, the company responsible for the installation, maintenance and management of the cooling system, said the photos were unauthorized and did not show the finished product.
\nA homeowner, who has cancelled the cooling system installation for his unit, described the trunking as \u201cvery unsightly\u201d, noting that the size seems to be double that for conventional air-con trunking.
\nAnother owner is concerned about the trunking\u2019s configuration.
\n\u201cThey run through the main door\u2026 you can see that the trunking actually cuts through the living room and goes to the bedroom via the exterior walls of the bedroom. So that is one of the big problems,\u201d he said.
\nSP Group revealed that around 10,400 households have signed up for the cooling system, which will debut in Tengah BTO flats.
\nOn how many have backed out, the company said less than 0.5% cancelled their application for the cooling system.
\n\u00a0
\n5. Singapore ramps up private housing supply to highest in a decade<\/p>\n

Singapore has raised the supply of private housing under the Confirmed List of the Government Land Sales (GLS) Programme for 2H 2023 to 5,160 units, from 4,090 in the first half, reported CNA.
\nThis brings the total supply for the whole year to its highest in a decade, at 9,250 units. It is also almost 50% higher than\u00a02022\u2019s supply and about 2.5 times that of 2021\u2019s supply.
\nUnder the 2H 2023 GLS Programme, there are eight private residential sites \u2013 including one for\u00a0Executive Condominiums (ECs) \u2013 on the Confirmed List and nine Reserve List sites.
\n\u201cWith the collective sales market staying anaemic, the government has stepped up its supply of land to meet strong demand for housing in its 2H 2023 GLS Programme,\u201d said Lee Sze Teck, Senior Director of Research at Huttons Asia.
\nThe Reserve List sites, on the other hand, comprise six private residential sites, one hotel site, one commercial site and one white site. These sites could yield an additional 3,430 private housing units, 530 hotel rooms, and 93,350 sq m gross floor area of commercial space.
\n\u00a0
\n6. Massive Jurong Lake District site launched for sale<\/p>\n

A 6.5-hectare (ha) site, which is split into three plots of land, has been put up for sale to prospective master developers to kickstart a new precinct within the Jurong Lake District, reported CNA.
\nLocated near the Jurong East MRT interchange, the site could yield around 1,700 housing units, 146,000 sq m of office space as well as 73,000 sq m of gross floor area (GFA) for shops, entertainment, hotel, restaurants, community uses, and more offices.
\nThe Urban Redevelopment Authority (URA) expects the proposed integrated development to be progressively completed in the next 10 to 15 years, with the first phase of growth including 600 private homes and 70,000 sq m GFA of office space.
\nNotably, it would be Singapore\u2019s second master development site following the 3.55ha Marina Bay Financial District and its largest at 6.5ha or around 12 football fields.
\nWith this, OrangeTee & Tie\u2019s Deputy CEO Justin Quek sees developers forming consortiums to bid for the sizeable white site.
\n\u201cGiven the flexibility of phasing the development over time and the lack of exciting new happenings in the West in recent times, we could possibly see three to five bidders,\u201d he added.
\nMeanwhile, analysts believe the success of Jurong Lake District as the next central business district (CBD) would depend on its ability to convince businesses to relocate there, reported TODAY.
\nRelated article:\u00a0Turf Club Closing, Kranji Redeveloping: 4 Biggest Changes to the North of Singapore By 2033
\n\u00a0
\n7. Foreigners\u2019 share of home sales on the rise despite curbs
\nThe proportion of non-landed private homes acquired by non-citizens has been on the rise at 23% for this year up to early June 2023, up from 19% in 2020, reported The Business Times.
\nSingapore Permanent Residents (PRs) accounted for the bulk of the acquisition, at 17% of private homes bought this year, up from 15% in 2020.
\nForeigners, on the other hand, made up 6%, up from 4% in 2020.
\nAnalysts noted that the hike in Additional Buyer\u2019s Stamp Duty (ABSD)\u00a0in April 2023 saw private property purchases by PRs decline 23.2% to 291 units in May 2023 from 379 units over the same period in 2022.
\nAs a percentage of overall sales, however, PR demand for May 2023 remained quite similar to\u00a02022 at 16%, compared to 17% for the entire 2022.
\n\u201cForeigner (non-PR) purchases have come off more significantly, in both absolute and percentage terms, to 4% in May 2023, against 5% for the full-year 2022, and 7% in Q1 2023,\u201d said Tricia Song, Head of Research for Southeast Asia at CBRE.
\nDespite the various property cooling measures rolled out by the government, foreign buying has remained steady due to foreigners and PRs having significant capital and Singapore being an attractive destination to invest in, said market watchers.
\n\u00a0
\n8. Three condos register new\u00a0PSF price high, Grange 1866 tops the list<\/p>\n

Three condominiums in Singapore registered new PSF price highs between 2 and 9 June 2023, with Grange 1866 topping the list following the sale of a two-bedroom unit for $2.59 million or $3,390 PSF on 7 June 2023.
\nThis is the District 10 project\u2019s first unit to have crossed above $3,300 PSF. The sale of the 764 sq ft unit surpassed the previous high set on 19 January 2023, when an 829 sq ft unit was transacted for $2.61 million or $3,145 PSF.
\nRoyal Hallmark in District 15 also posted a new PSF price high with the sale of a 797 sq ft three-bedroom unit for $1.82 million or $2,289 PSF on 2 June 2023. This eclipsed the previous record set in December 2022, when a 797 sq ft unit changed hands for $1.78 million or $2,237 PSF.
\nThe Hermitage in District 10 also recorded a new PSF price high when a fourth-floor unit, measuring 818 sq ft, was transacted for $1.72 million or $2,096 PSF on 5 June 2023. This surpassed the previous high posted in September\u00a02022\u00a0when an 850 sq ft unit was sold for $1.75 million or $2,058 PSF.
\n\u00a0
\n9. Government ramps up the supply of industrial land under 2H 2023 GLS programme
\nThe government has launched a total of 9.81ha of industrial land under its Industrial GLS programme for 2H 2023.
\nNotably, there are five sites on the Confirmed List, with a total area of 6.43ha, and three on the Reserve List, totalling 3.38ha, revealed the Ministry of Trade and Industry.
\nSites on the Reserve List will only be put up for sale if an interested party offers a minimum purchase price that is acceptable to the government, or if there is sufficient market interest.
\nHuttons noted that the site area on the Confirmed List is a 63.2% increase from the 3.94 ha launched in 1H 2023. In fact, it is the highest industrial land supply \u201csince 2H 2014 when 9.5 ha of industrial land was launched\u201d.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…The Myst and Lendor Hills Residences Opened For Preview on 24 June 2023, Tiong Bahru HDB Flat Sold for Record .5 million, and More<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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