Complete Property Market Updates of Singapore

June 16, 2008

More homes coming up in Punggol, Sengkang

Filed under: General,HBD Reviews — Propertymarketupdates @ 4:19 am

Over 1,400 premium flats launched yesterday. Total this year: 8,400 units

THE Housing Board (HDB) yesterday launched more than 1,400 premium homes in Punggol and Sengkang for sale, as it moved to meet increasing demand.


PRICEY MAKEOVER: $25 million will be spent on landscaping and architectural work for Punggol’s 4.2km waterway, says HDB

This brings the total supply for the year to about 8,400 units – more than the 6,000 homes launched last year and the 2,400 in 2006.

The new projects – Compassvale Pearl in Sengkang and Punggol Sapphire in Punggol – are offered under HDB’s build-to-order (BTO) system, where flats are built only when a certain demand is reached.


NEW LAUNCH: An artist’s impression of the upcoming Punggol Sapphire, one of two new projects under HDB’s build-to-order system.

Yesterday’s launches follow the release last week of detailed plans to develop Punggol into a ‘waterfront town’.

The HDB said it will spend $25 million on landscaping and architectural work for Punggol’s 4.2 km waterway and a further $5.1 million on its upcoming town park.


 
Both features are part of the ‘Punggol 21-plus’ vision mentioned by Prime Minister Lee Hsien Loong at last year’s National Day Rally.

Punggol Sapphire offers 1,065 flats: 760 four-room units, 282 five-room premium flats and 23 five-room loft units, which have higher-than-normal ceilings allowing for a loft.

Premium flats have better finishes, making them slightly more costly, said the HDB.

The estate is next to Punggol MRT station and a stone’s throw from the future town centre, which will have a mix of entertainment, sports and recreation facilities.


 
It is also located near the upcoming waterway, which will have homes lining its banks, as well as recreational facilities and other amenities nearby.

Prices at Punggol Sapphire will range from $234,000 for a four-room flat to $477,000 for a five-room loft unit.

The HDB said it expects another 4,900 units to be completed by 2011, making a total of more than 20,000 homes in Punggol.

At Compassvale Pearl, 420 units are being offered – 336 four-room units and 84 five-room premium flats. Prices range from $216,000 for a four-room flat to $367,000 for a five-room unit.

The estate is at the junction of Punggol Road and Compassvale Drive and is served by LRT stations.

The HDB website www.hdb.gov.sg yesterday showed 400 applications for both new projects. Applications close on June 4.

Both projects are expected to be completed by 2011. Models of the estates are on display at the HDB Hub Habitat Forum at Toa Payoh until June 4.

Source : Straits Times – 23 May 2008

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