New Condos in Serangoon – 2018 is looking like the year that the Singapore property market’s long-awaited turnaround finally gains traction. Property analysts are forecasting a 8-15% increase in the property prices in 2018 given the pent-up demand, Enbloc Sales resulting in new demand, Aggressive bidding of Government Land Sales (GLS) and limited existing supply in the market. Foreign Interest may also be coming back to Singapore Residential Market according to BOS.
Just In – Continuing an upward trend in the property market, private home prices in Singapore rose 3.1 per cent in the first quarter of 2018, according to flash estimates released on Monday (Apr 2) by the Urban Redevelopment Authority (URA), the steepest q-o-q gain since Q2 2010. Singapore Condo Resale Prices edged up 0.6% to a 12-month high in April over March.
There will be a number of New Launches This Year especially in District 19 both from Government Land Sales and En-Bloc Sales. However, we are anticipating there will be overwhelming Interest for the 2 New Launches in Serangoon. Both Condos are located in the Established Residential Enclave near Serangoon MRT Station. It is also close to the Chomp Chomp Food Centre, Serangoon Garden Market with other amenities and schools within the vicinity. From Serangoon, it is just a few MRT stations away from the Dhoby Ghuat Station and Raffles Place – Singapore Main Shopping Belt and Central Business District.
NEW CONDOS IN SERANGOON
1. THE GARDEN RESIDENCES
The Garden Residences is an upcoming joint-development by Keppel Land and Wing Tai Holdings located along Serangoon North Avenue 1, District 19 Singapore. The site has a land area of 17,189.1 sq m and permissible gross floor area of 42,973 sq m which could potentially yield 505 units. At a land cost of $965psf ppr, the estimated break even price is around $1,400 psf and the estimated selling price is likely to be in the range of $1,600.
Located at Serangoon North Ave 1, it is surrounded by Serangoon Garden’s landed properties and peaceful HDB estate.
Serangoon is an all-encompassing estate which hosts an array of amenities such as established shopping malls, food paradise, sports and recreation facilities, schools, offices and more. One can live, work, shop and dine in just Serangoon estate conveniently.
More information at: https://investintproperty.com/properties/the-garden-residences/
2. Affinity at Serangoon
Affinity is an upcoming Mega Development along Serangoon North Avenue 1 by Oxley with the envision of “Come HOME to all that you CHERISH”. It will feature 1012 Apartments (1-4 Bedrooms), 40 Units of Strata Landed House as well as 5 Commercial Units. Most of the units (around 60%) are 1 or 2 bedroom units. Showflat Target Preview: End May 2018.
Affinity also formerly known as Serangoon Ville, is Privatised HUDC estate in Serangoon North Avenue 1 has been sold to an Oxley Holdings-led consortium which comprises of Oxley Holdings, Unique Invesco, Lian Beng and Apricot Capital for S$499 million. The four companies had earlier in May teamed up to acquire Rio Casa, a former HUDC estate in Hougang, in a collective sale for S$575 million.
The purchase price for Serangoon Ville at S$499 million works out to a land price of close to S$835 per square foot per plot ratio (psf ppr), which includes the estimated differential premium of S$195 million payable to the state for a top-up to a fresh 99-year lease and for the intensification of the 296,913 sq ft site to a gross plot ratio of 2.8. Given the land price of close to S$835, the estimated break even price will be in the range of S$1,300 and therefore the estimated selling price will be likely be above S$1,500 psf.
More information at: https://investintproperty.com/properties/affinity-at-serangoon/
Hope you enjoy reading – “New Condos in Serangoon”. You might also be interested to read more about “New Singapore Condominiums Launching in 2018“
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Disclaimer: This article is meant for research/ information and educational purposes only. All information, especially property ownership laws, are subjected to changes and no responsibility shall be held on the accuracy. All sorts of property investments can be risky and investors are expected to perform their own due diligence before committing into any purchase.