{"id":138359,"date":"2023-07-17T09:03:56","date_gmt":"2023-07-17T02:03:56","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/grand-dunman-and-pinetree-hill-sell-over-50-and-38-of-units-over-launch-weekends-respectively-six-upcoming-bto-projects-in-mount-pleasant-and-more\/"},"modified":"2023-07-17T17:09:32","modified_gmt":"2023-07-17T10:09:32","slug":"grand-dunman-and-pinetree-hill-sell-over-50-and-38-of-units-over-launch-weekends-respectively-six-upcoming-bto-projects-in-mount-pleasant-and-more","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/grand-dunman-and-pinetree-hill-sell-over-50-and-38-of-units-over-launch-weekends-respectively-six-upcoming-bto-projects-in-mount-pleasant-and-more\/","title":{"rendered":"Grand Dunman and Pinetree Hill Sell Over 50% and 38% of Units Over Launch Weekends, Respectively, Six Upcoming BTO Projects in Mount Pleasant, and More"},"content":{"rendered":"


\nGrand Dunman and Pinetree Hill Sell Over 50% and 38% of Units Over Launch Weekends, Respectively, Six Upcoming BTO Projects in Mount Pleasant, and More10 to 17 July 2023
\nGrand Dunman sold 550 or 54.6% of its 1,008 units during its launch over the weekend at an average price of $2,500 per sq ft (PSF). Meanwhile, Pinetree Hill, UOL Group, and Singapore Land Group\u2019s residential project in Ulu Pandan moved nearly 38% or 150 of its 400 units during its launch over the weekend at an average price of $2,460 PSF.
\n\u00a0
\n1. Grand Dunman sells over 50% of units over its launch weekend<\/p>\n

Grand Dunman sold 550 or 54.6% of its 1,008 units during its launch over the weekend at an average price of $2,500 PSF, reported The Business Times.
\nDevelopers SingHaiyi Group and CSC Land Group said Singaporeans accounted for 90% of buyers, while\u00a0Singapore Permanent Residents (PRs)\u00a0and foreigners made up 9% and 1%, respectively.
\n2-bedroom units registered the highest sales, with buyers snapping 77% of the available units from $1.55 million or $2,330 PSF.
\nIt was followed by 3-bedroom units, which sold 61% at a starting price of $2.21 million or $2,309.
\nThe developers also sold 58% of the 1-bedroom units at a starting price of $1.09 million or $2,418 PSF.
\nDr Lee Nai Jia, Head of Real Estate Intelligence, Data and Software Solutions, PropertyGuru Group commented that Grand Dunman\u2019s sales make it the\u00a0\u201ctop-performing project for 2023 thus far, judging by the number of units sold. The strategic location, close proximity to Dakota MRT station, Kong Hwa School, and the scenic East Coast Park, combined with the well-thought-out design that leverages unobstructed views, have all likely played significant roles in bolstering sales.\u201d
\nHe moves on to say that 90% of buyers being Singaporean residents\u00a0reinforces the perception that buyers are prepared to pay a premium for well-located and well-designed projects.
\n\u201cThe robust sales also underscore a sustained demand for private housing among local buyers. The project has especially appealed to residents of District 15, with many buyers likely to have extended family in the vicinity,\u201d Dr Lee said.
\n\u00a0
\n2. Nearly 38% of Pinetree Hill sold over its launch weekend<\/p>\n

Pinetree Hill, UOL Group, Singapore Land Group\u2019s residential project in Ulu Pandan, moved nearly 38% or 150 of its 400 units during its launch over the weekend at an average price of $2,460 PSF, reported The Business Times.
\nUOL General Manager for Residential Marketing Anson Lim revealed that 1-bedroom and 2-bedroom units with study accounted for 61% of the total sales.
\nThe remaining units sold were bigger units comprising 3-bedroom to 5-bedroom units.
\nLim noted that Singaporeans and PRs made up 99% of the buyers.
\nDr Tan Tee Khoon, Country Manager \u2013 Singapore, PropertyGuru called Pinetree Hill\u2019s launch weekend performance \u201cpromising\u201d, and that \u201cthe likely profile of these buyers would be owner-occupiers who are familiar with the locale, and families with school-going children due to the proximity to reputable schools. Moreover, the buyers are Singaporeans and PRs.
\n These buyers would enjoy first-mover advantage both in price and choice of units as future phases of sales are likely to reflect the scarcity of available private residential inventory in the vicinity for the next couple of years.\u201d
\n\u00a0
\n3. Six BTO projects to be built in Mount Pleasant
\nSix BTO projects comprising around 5,000 flats will be built within the upcoming Mount Pleasant housing estate, with the first project to be launched in 2025, reported CNA.
\nHDB shared plans to sensitively integrate heritage elements from the Old Police Academy as well as pre-war black-and-white bungalows into the 33-hectare (ha) housing estate, located near Central Catchment Nature Reserve and Bukit Brown.
\nNotably, six buildings at the Old Police Academy will be retained, of which four will be \u201cadapted for contemporary purposes\u201d.
\nHDB has also appointed a heritage consultant, Studio Lapis, to guide efforts to salvage heritage items and reuse them as structural elements in the new estate.
\nTo enhance the estate\u2019s distinctiveness and identity, the Old Police Academy workgroup proposed some road names, which were endorsed by the Street and Building Names Board (SBNB).
\n\u00a0
\n4. HDB resale prices at 17 of 26 towns hit record levels
\nSeventeen of the 26 towns in Singapore have already set record resale prices for HDB flats as of July, with the highest registered in Bukit Merah at $1.5 million, reported Singapore Business Review citing OrangeTee.
\nOnly five towns have yet to register million-dollar flats, including Jurong West, Sengkang, and Bukit Panjang. However, OrangeTee believes these towns may soon record their first million-dollar transaction as some flats were sold above $900,000.
\nResale prices of HDB flats have been on the rise for 13 straight months.
\nIn fact, prices rose 1.4% month-on-month (MoM) in Q2 2023 as 21 out of 26 towns posted increases in average resale prices. Geylang recorded the biggest price hike at 18.7%, followed by Central Area and Bedok at 8.6% and 4.3%, respectively.
\nLooking ahead, OrangeTee expects HDB resale flat prices to continue rising albeit at a slower pace of 4% to 6% for the entire 2023.
\nThis comes as some demand may divert to the BTO market as HDB launch more flats in mature estates such as Bedok, Bukit Merah, Queenstown, and Kallang\/Whampoa which are usually popular among buyers.
\n\u00a0
\n5. HDB expects to complete all BTO projects delayed by COVID-19 by early 2025
\nHDB expects to complete all BTO projects delayed by the COVID-19 pandemic by early 2025, reported The Straits Times.
\nHDB revealed that it has completed around 72% of such projects, or 66 developments, between October 2022 and June 2023, with the remaining projects still under construction.
\nIn 1H2023, HDB completed around 12,000 flats across 16 BTO projects \u2013 the highest figure achieved in the half-yearly period since 2018.
\nAmong the projects completed is Anchorvale Village, the residents of which were invited to collect their keys on 10 July 2023.
\nNotably, the 197 flat buyers of Anchorvale Village are eligible for compensation of between $1,100 to $4,500 due to the completion delay. The average reimbursement amount is pegged at about $3,000.
\nHowever, HDB said the buyers would receive the maximum reimbursement amount they are eligible for, without them having to submit any claims\/proof of expenses.
\n\u00a0
\n6. Eight winning solutions to be piloted at Jurong Lake District (JLD)
\nImagine a building with air temperatures that are regulated based on weather forecast, ambient temperature and number of occupants.
\nThis smart building management solution \u2013 created by start-up Zuno Carbon \u2013 is one of the eight winning entries at the JLD Innovation Challenge that will be piloted at a small scale at IMM and JEM.
\n\u201cAgencies and stakeholders will review their effectiveness, with a view to potentially scale up the solutions and deploy them in other areas of JLD and beyond, to benefit more developments and the wider public,\u201d said the Urban Redevelopment Authority (URA) in a release.
\nHeld from 24 February 2023 to 5 May 2023, the JLD Innovation Challenge saw participating teams proposing novel urban solutions for challenge statements provided by the district\u2019s stakeholders.
\nThey include Lendlease Global Commercial Reit, Ng Teng Fong General Hospital, Jurong Community Hospital, CapitaLand, SMRT, Science Centre Singapore, and the Land Transport Authority (LTA).
\nMore than 100 solutions were received from start-ups, research institutes, and established companies.
\nThe eight winners were selected \u201cfor their potential in reducing resource usage and waste, improving energy efficiency and commuting experiences, community engagement and inclusivity\u201d.
\n\u00a0
\n7. Two sites in Simei rezoned for residential use
\nAfter more than a decade, Simei may finally see new public housing rise within the area as two sites in Simei Road have been rezoned from educational to residential use, reported The Straits Times.
\nBased on URA\u2019s proposed amendment to its Master Plan, the smaller land parcel is bounded by Simei Road and Simei Lane and is currently occupied by a plant nursery, Sing See Soon Floral & Landscape.
\nThe larger of the sites, located near Upper Changi MRT station, houses the former Changkat Changi primary and secondary schools. It was identified as a possible site for public housing and amenities.
\nThe move comes as the authority aims \u201cto achieve a better mix of private and public housing within towns\u201d.
\nAnalysts expect the new flats to enjoy unblocked and panoramic views since there are many landed properties within the vicinity.
\n\u201cIt\u2019s possible that many young people may want to move there since their parents could be staying in the older flats in the eastern part of Singapore such as Marine Parade and Tampines,\u201d said Christine Sun, Senior Vice-President of Research and Analytics at OrangeTee & Tie.
\n\u00a0
\n10. Average rent for three-bedroom private non-landed homes was down 3.2% in May 2023
\nThe average median rent for 3-bedroom apartment units declined 3.2%\u00a0MoM in May 2023, although it increased 17.8% year-on-year (YoY), revealed Savills.
\nSingapore\u2019s District 4 submarket registered the highest median monthly rent of $9,300. It was followed by District 1 and District 9, with median rents at $8,500 and $7,500, respectively.
\nHowever, the average median rent for 1-bedroom to 4-bedroom units overall dropped 2.2%\u00a0MoM across all districts, reversing April 2023\u2019s 2.4%\u00a0MoM increase.
\nSavills attributed the weakening in rents to the influx of new supply and the challenging economic conditions, which saw companies tighten their budgets.
\n\u201cFor renters in Singapore, relief is in the air as rentals in more districts start to soften. For investors, their financial position is still protected as the rental decline remains moderate,\u201d said Alan Cheong, Savills Research & Consultancy\u2019s Executive Director.
\nDespite the marginal decline in rents, landlords\u2019 overall yield remains healthy, he added.
\n\u00a0
\nLooking for a property in Singapore? Visit PropertyGuru\u2019s\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\nMarcus Lee, Content Executive at PropertyGuru, edited this story. To contact him about this story, email: marcuslee@propertyguru.com.sg.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Grand Dunman and Pinetree Hill Sell Over 50% and 38% of Units Over Launch Weekends, Respectively, Six Upcoming BTO Projects in Mount Pleasant, and More<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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