HDB to redevelop Tanglin Halt and build integrated development
The new integrated property development is going to also include a hawker facility, market and polyclinic in addition to up to 5,500 brand-new household condos, Senior Minister of State, Ministry of National Development and Ministry of Communications and Information Tan Kiat How revealed on Oct 19.
Lee includes that the brand-new prime area real estate (PLH) and build-to-order (BTO) condos could go beyond 40 storeys and may generate in between 700 and 800 condos.
” The sorts of flats may vary from two-room flexi to four-room to cater to a wide variety of customers that intend to stay in this site development. Prices for a four-room level can begin with $550,000 to as high as $720,000,” states Lee. The very first of the PLH BTO project is the 973-unit Tanglin Halt Cascadia that was released for purchase this month.
Wong Siew Ying, head of research study and content at PropNex, says the Tanglin Halt Cascadia BTO project attracted 1,193 prospects, translating to an application level of 1.23 times. Wong claims: “This was rather moderate, given the location’s city fringe place in the popular Queenstown area. We believe the brand-new apartments at the Tanglin Halt integrated property development must probably see a warmer response when they are launched up for sale, as purchasers often tend to be attracted to integrated developments.”
Tanglin Halt estate, just one of Singapore’s first housing project estates in Queenstown, will be redeveloped toward a brand-new incorporated advancement.
To get completed in 2 phases, the progression will be found at the previous Tanglin Halt Area Centre spot, said the minister in his keynote at the HDB Professional Engagement and Knowledge-sharing (PEAK) Forum. The former Commonwealth Drive Food Centre and continuing Tanglin Halt Market remain in the area center.
The change of Tanglin Halt estate will bring young families to the area and inject better vibrancy into the community, Wong adds.
Lee states more flats, along with new business features and social and public facilities, are expected to launch next year. This will bring interest to existing resale housing in the location, such as Commonwealth View, which is much demanded for its prime place and scenic views. “There might be more million-dollar flats in Commonwealth View in the future.”
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 prior to grants. “It is quite achievable that brand-new flats at the future Tanglin Halt integrated property development could be priced somewhat higher, provided its host of establishments inside the project, however will still be a lot more budget-friendly than prices in the reselling market.”
Lee Sze Teck, Huttons Asia’s top supervisor of data analytics, states the Tanglin Halt incorporated development will certainly be a brand-new landmark in the location. “It is good to consider that some components of the older food centre and market will certainly be incorporated into the brand-new development.”