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Straits Times
7 days ago
- Straits Times
First BTO flats in Greater Southern Waterfront, Mount Pleasant to go on sale in October
Find out what's new on ST website and app. An artist's impression of the future Keppel housing area, which forms part of the Greater Southern Waterfront. SINGAPORE – The first flats in two new housing estates – the Greater Southern Waterfront and Mount Pleasant – will be among 10 Build-To-Order (BTO) projects that will go on sale in October. An assisted-living project in Sengkang, which will be the fifth of its kind in Singapore, will also be on offer. The Housing Board will offer about 9,100 flats in Ang Mo Kio, Bedok, Bishan, Bukit Merah, Jurong East, Sengkang, Toa Payoh and Yishun. The project on the site of the former Keppel Club in Bukit Merah, along Telok Blangah Road, will have about 870 units of two-room flexi, three- and four-room flats, and a pre-school. The upcoming blocks will be between 19 and 46 storeys high, and one of them will have rental flats. The development is located between Telok Blangah and Labrador MRT stations. It will kickstart the development of the Greater Southern Waterfront and will form part of 6,000 HDB flats and 3,000 private homes that will be built there. Property analysts said the project could fall under the Prime category, given its location on the city fringe, and is expected to be highly sought after. Top stories Swipe. Select. Stay informed. Asia Live: Thailand, Cambodia clash with jets, rockets, artillery in deadly border row Asia 11 Thai civilians killed as Thai and Cambodian militaries clash at disputed border: Reports Singapore Boy, 15, charged after being caught with vapes 5 times; ordered to stay 2 years in S'pore Boys' Home Asia Vampire coach: Coercive blood sampling in school casts spotlight on Taiwan's 'obedient culture' Business MOM probing work injury claim flagged by late Sumo Salad boss Jane Lee: Dinesh Singapore What's key to a good life? Most Singapore residents choose emotional and mental well-being Singapore Over 2 years' jail for man who worked with wife to cheat her then boyfriend of $220k Plus and Prime flats, which are closer to the city centre, transport nodes and amenities, come with stricter resale conditions, such as a 10-year minimum occupation period and a subsidy clawback, unlike Standard flats. Ms Christine Sun, chief researcher and strategist at Realion Group, expects high demand for the flats at the Greater Southern Waterfront as there is a lack of affordable housing in the area. 'Previously, Singaporeans intending to reside in the area would have to purchase resale condominiums, which may price out the middle-income Singaporeans,' she said. In the first half of 2025, units in the Reflections at Keppel Bay condominium – a 99-year leasehold development that was completed in 2011 - transacted at a median price of $1,725 per sq ft. This translates to around $1.6 million for a 926 sq ft unit, a similar size to that of a four-room flat, she noted. Mr Lee Sze Teck, senior director of data analytics at real estate agency Huttons Asia, also expects the project to be popular among flat applicants, as units on the top floors may have unblocked sea views. A second BTO project in Bukit Merah is a 1,020-unit development along Jalan Bukit Merah and Redhill Close. It is about a 10-minute walk to Redhill MRT station. Analysts also expect this project to fall under the Prime category as many amenities, such as hawker centres, supermarkets, coffee shops and a polyclinic are located nearby. In Toa Payoh, a 1,350-unit project comprising two-room flexi, three- and four-room flats will be built in the new Mount Pleasant housing estate, along Thomson Road. The development will have a pre-school, eatery, supermarket and shops. Two of its blocks will be integrated with public rental flats and one block will have rental units only. It is a five-minute walk from the future Mount Pleasant MRT station on the Thomson-East Coast Line. The project is the first of six BTO projects to be built in the 33ha estate on the site of the Old Police Academy, which will house about 5,000 flats. A view of the new Mount Pleasant housing estate on the site of the Old Police Academy on March 5. ST PHOTO: GAVIN FOO Analysts expect the Mount Pleasant project to be classified as Prime. Ms Sun said the project could see strong interest from families as it is located close to schools like Raffles Girls' School, Raffles Institution, CHIJ Primary and Secondary schools and SJI International School. In Sengkang, a site bounded by Fernvale Street and Fernvale Link will house 830 two-room flexi, four- and five-room flats near Kupang LRT station. It will also have 200 community care apartments, which come with senior-friendly fittings such as wheelchair-accessible bathrooms, as well as health and community services that are meant to help seniors live independently. In Bishan, about 530 units of two-room flexi, three- and four-room flats will be built along Street 12, less than 10 minutes on foot from Bishan MRT station. In Ang Mo Kio, HDB is set to launch a 1,420-unit project comprising two-room flexi, three- and four-room flats. It will be built along Ang Mo Kio Avenue 5, and the site is about 1km from Yio Chu Kang MRT station. ITE College Central and Nanyang Polytechnic are in the vicinity. Ms Wong Siew Ying, head of research and content at property agency PropNex Realty, said she expects the Bishan and Ang Mo Kio projects - which could be classified as Plus flats - to draw healthy interest as previous BTO projects in the two towns were oversubscribed. Two projects in Bedok and Jurong East are the only ones in the upcoming launch that will have all flat types on offer: two-room flexi, three-, four- and five-room flats as well as three-generation units. The 850-unit project in Bedok will be built along Chai Chee Street. The nearest MRT station is Kembangan, about 1.5km away. In Jurong East, the 620-unit project will be bounded by West Coast Road and Jurong Town Hall Road. It is near a future MRT station on the Jurong Region Line. Two projects in Yishun will offer a combined 1,370 flats. The larger one with 810 units is located in Chencharu, an upcoming HDB residential area. Situated along Chencharu Link and Bah Soon Pah Road, the development is adjacent to Peiying Primary School and Naval Base Secondary School. Khatib MRT station is a 10-minute walk away. The other project, which has 530 units of two-room flexi and four-room flats, is bounded by Yishun Ring Road and Yishun Street 31. In October's sales exercise, a total of about 2,890 two-room flexi flats will be on sale. This is the largest supply of such flats offered in a BTO exercise since the introduction of the two-room flexi scheme in November 2015, noted Ms Wong. 'The higher supply will help to cater to demand for such units among first-timer singles,' she said. The Mount Pleasant project will offer 540 two-room flexi flats, the largest in the upcoming launch.
Business Times
7 days ago
- Business
- Business Times
First BTO flats in Greater Southern Waterfront, Mount Pleasant to go on sale in October
[SINGAPORE] The first flats in two new housing estates – the Greater Southern Waterfront and Mount Pleasant – will be among 10 Build-To-Order (BTO) projects that will go on sale in October. An assisted-living project in Sengkang, which will be the fifth of its kind in Singapore, will also be on offer. The Housing Board will offer about 9,100 flats in Ang Mo Kio, Bedok, Bishan, Bukit Merah, Jurong East, Sengkang, Toa Payoh and Yishun. The project on the site of the former Keppel Club in Bukit Merah, along Telok Blangah Road, will have about 870 units of two-room flexi, three- and four-room flats, and a pre-school. The upcoming blocks will be between 19 and 46 storeys high, and one of them will have rental flats. The development is located between Telok Blangah and Labrador MRT stations. It will kickstart the development of the Greater Southern Waterfront and will form part of 6,000 HDB flats and 3,000 private homes that will be built there. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up Property analysts said the project could fall under the Prime category, given its location on the city fringe, and is expected to be highly sought after. Plus and Prime flats, which are closer to the city centre, transport nodes and amenities, come with stricter resale conditions, such as a 10-year minimum occupation period and a subsidy clawback, unlike Standard flats. Christine Sun, chief researcher and strategist at Realion Group, expects high demand for the flats at the Greater Southern Waterfront as there is a lack of affordable housing in the area. 'Previously, Singaporeans intending to reside in the area would have to purchase resale condominiums, which may price out the middle-income Singaporeans,' she said. Lee Sze Teck, senior director of data analytics at real estate agency Huttons Asia, also expects the project to be popular among flat applicants, as units on the top floors may have unblocked sea views. A second BTO project in Bukit Merah is a 1,020-unit development along Jalan Bukit Merah and Redhill Close. It is about a 10-minute walk to Redhill MRT station. Analysts also expect this project to fall under the Prime category as many amenities, such as hawker centres, supermarkets, coffee shops and a polyclinic are located nearby. In Toa Payoh, a 1,350-unit project comprising two-room flexi, three- and four-room flats will be built in the new Mount Pleasant housing estate, along Thomson Road. The development will have a pre-school, eatery, supermarket and shops. Two of its blocks will be integrated with public rental flats and one block will have rental units only. It is a five-minute walk from the future Mount Pleasant MRT station on the Thomson-East Coast Line. The project is the first of six BTO projects to be built in the 33ha estate on the site of the Old Police Academy, which will house about 5,000 flats. A view of the new Mount Pleasant housing estate on the site of the Old Police Academy on Mar 5. PHOTO: ST Analysts expect the Mount Pleasant project to be classified as Prime. Sun said the project could see strong interest from families as it is located close to schools like Raffles Girls' School, Raffles Institution, CHIJ Primary and Secondary schools and SJI International School. In Sengkang, a site bounded by Fernvale Street and Fernvale Link will house 830 two-room flexi, four- and five-room flats near Kupang LRT station. It will also have 200 community care apartments, which come with senior-friendly fittings such as wheelchair-accessible bathrooms, as well as health and community services that are meant to help seniors live independently. In Bishan, about 530 units of two-room flexi, three- and four-room flats will be built along Street 12, less than 10 minutes on foot from Bishan MRT station. In Ang Mo Kio, HDB is set to launch a 1,420-unit project comprising two-room flexi, three- and four-room flats. It will be built along Ang Mo Kio Avenue 5, and the site is about 1km from Yio Chu Kang MRT station. ITE College Central and Nanyang Polytechnic are in the vicinity. Wong Siew Ying, head of research and content at property agency PropNex Realty, said she expects the Bishan and Ang Mo Kio projects - which could be classified as Plus flats - to draw healthy interest as previous BTO projects in the two towns were oversubscribed. Two projects in Bedok and Jurong East are the only ones in the upcoming launch that will have all flat types on offer: two-room flexi, three-, four- and five-room flats as well as three-generation units. The 850-unit project in Bedok will be built along Chai Chee Street. The nearest MRT station is Kembangan, about 1.5km away. In Jurong East, the 620-unit project will be bounded by West Coast Road and Jurong Town Hall Road. It is near a future MRT station on the Jurong Region Line. Two projects in Yishun will offer a combined 1,370 flats. The larger one with 810 units is located in Chencharu, an upcoming HDB residential area. Situated along Chencharu Link and Bah Soon Pah Road, the development is adjacent to Peiying Primary School and Naval Base Secondary School. Khatib MRT station is a 10-minute walk away. The other project, which has 530 units of two-room flexi and four-room flats, is bounded by Yishun Ring Road and Yishun Street 31. In October's sales exercise, a total of about 2,890 two-room flexi flats will be on sale. This is the largest supply of such flats offered in a BTO exercise since the introduction of the two-room flexi scheme in November 2015, noted Wong. 'The higher supply will help to cater to demand for such units among first-timer singles,' she said. The Mount Pleasant project will offer 540 two-room flexi flats, the largest in the upcoming launch. THE STRAITS TIMES
AsiaOne
04-07-2025
- Business
- AsiaOne
Higher seller's stamp duty a 'light touch' to curb property flipping: Experts, Money News
To curb speculative buying, the Government announced on Thursday (July 3) an increase in the seller's stamp duty (SSD) rates and an extension to its holding period. These measures, set to kick in for all private homes purchased on and after Friday (July 4), will not dampen demand among genuine buyers, several experts told AsiaOne. The Ministry of National Development (MND), Ministry of Finance (MOF) and Monetary Authority of Singapore (MAS) said that the holding period for private properties will increase from three to four years. Homeowners will also have to pay higher SSD rates of between four per cent to 16 per cent if they sell their private homes within four years of the purchase. MND, MOF and MAS noted the measures come after that there has been a "significant" increase in sub-sale of units that have not been completed. Sub-sale transactions refer to homeowners selling their properties before it is completed. Chief Researcher and Strategist of Realion Group Christine Sun said that according to data from the Urban Redevelopment Authority, the number of such transactions for non-landed private homes has been increasing in recent years. There has been an average of 220 sub-sale transactions from 2020 to 2025, higher than the average of 88 seen from 2015 to 2020. Echoing Sun's observations, ERA Singapore CEO Marcus Chu said that there since 2021, there had been a "significant jump" in sellers who sold their homes after holding them for between three and four years. He added that in 2020, only 358 people sold their non-landed private residential properties after holding them for three to four years, compared to 2024, which saw a peak of 2,104 sellers. Chu, as well as head of research and data analytics at Singapore Realtors Inc Mohan Sandrasegeran, said that a majority of homeowners continue to sell their properties after holding them for five years or more. "Generally, most private home buyers are already holding for longer than four years, the adjustment targets short-term speculators, helping to discourage rapid turnover and flipping," added Sandrasegeran. Limited impact Property experts told AsiaOne that the measures will have a limited impact on the private home market, with genuine buyers and long-term investors unlikely to be affected. Sun said that while the number of sub-sale transactions is higher than before the pandemic, the quarterly transactions have been on a downtrend over the past few quarters. "Furthermore, most condominiums are purchased for owner-occupation, especially after the additional buyer's stamp duty has been raised several times. "Those who buy properties for their own use will not be affected by the increased SSD, as they are likely to stay in the property for the long term," she added. Realion Group's Sun said that the policy changes were "probably" introduced as a preventive measure to limit speculative growth, since more condominiums are due to obtain their Temporary Occupation Permit (TOP). The number of sub-sale transactions might rise in line with the anticipated increase in private residential units securing TOP, which is projected to grow from 5,920 units in 2025 to 6,838 units in 2026 and further to 10,306 units in 2027, according to Sun. She also noted that several new projects are expected to be launched in the coming months, adding lower interest rates also make housing loans more affordable -- spurring buying activity. Meanwhile, Chu said that buyers have become more cautious due to the economic uncertainty, and more now see property as a long-term investment. "Since most homebuyers are genuine owner-occupiers or longer-term investors, this measure is a gentle touch rather than a heavy-handed approach on the overall market. It aims to stabilise any spikes caused by short-term investors," he added. "It is not designed to crack down on the market but to reduce the froth from investors who sell shortly after the third year." Sandrasegeran said that genuine home buyers can further benefit if the Government introduces further policy changes, such as reducing, or even removing entirely, the 15-month wait-out period for private homeowners seeking to buy a resale HDB flat. The housing board previously said that 25 per cent of the 5,500 appeals for waiver from 2022 to March 2025 have been successful. "The SSD revision would not be negated by such a change. It will act as an added safeguard to prevent opportunistic exits from the private market," he added, while pointing out households who are motivated to "right-size" due to life transitions or financial constraints will benefit from such a move. "Together, these policies support both ends of the housing spectrum, with the SSD helping to curb speculative activity, and a potential relaxation of the wait-out period offering flexibility for those with genuine housing needs." Leonard Tay, Head of Research, Knight Frank Singapore, suggested further policy changes if the number of sub-sale transactions continue to increase. "It would not be too much of a stretch of the imagination to wonder whether the Government might even go so far as to consider imposing a Minimum Occupation Period in the private home market, similar to that applied to HDB flats," he said. [[nid:719806]] chingshijie@
CNA
01-07-2025
- Business
- CNA
HDB resale prices up 0.9% in Q2; slowest quarterly rise since 2020
SINGAPORE: Prices for public resale flats rose at a slower pace of 0.9 per cent in the second quarter of 2025, according to flash estimates from the Housing and Development Board (HDB) on Tuesday (Jul 1). This marks the third consecutive quarter of moderating price growth, and is the lowest quarter-on-quarter growth since Q2 2020. The resale price index for Q2 2025 eased from 1.6 per cent in the previous quarter and 2.6 per cent in the fourth quarter of 2024. HDB said that the resale volume for the quarter stood at 6,981 transactions up to Jun 29, 5 per cent lower than the 7,347 transactions recorded during the same period last year. It also advised households to be prudent in their property decisions, noting that Singapore's GDP growth for 2025 is expected to moderate from last year. "Against this backdrop of slowing economic growth and increasing headwinds arising from escalating global trade conflicts, there are also early signs of moderating labour demand," it added. "Given the highly uncertain macroeconomic outlook, households should continue to exercise prudence when purchasing properties and taking on mortgage loans." Ms Christine Sun, chief researcher and strategist at Realion Group, said that the HDB resale price growth is expected to continue rising modestly for the rest of the year because of "stable economic fundamentals and declining interest rates". "However, significant price spikes may be tempered in the longer term, as the overall flat supply is poised to rise in the coming years, leading to more competition among sellers," she added. UPCOMING FLATS July will see the launch of around 5,500 Built to Order (BTO) flats in Bukit Merah, Bukit Panjang, Clementi, Sembawang, Tampines, Toa Payoh, and Woodlands. A concurrent Sale of Balance Flats (SBF) exercise of about 3,000 flats will also be conducted. With the 5,590 SBF flats launched in February, the total SBF supply in 2025 will exceed 8,500 flats, HDB said. The increase in BTO supply may have slowed down the pace of price growth in the secondary market as buyers now have more housing options, said Ms Sun. "The continual ramp-up in the number of Sale of Balance Flats will also compete for buyers with the resale market since these flats are closer to completion or are already completed," she added. Ms Sun also added that a slowdown in the market is anticipated due to the heightened geopolitical tensions in the Middle East and the ongoing global trade war. "Due to the push back of the mid-year BTO exercise from June to July, we may only see buyers returning to the resale market in later months," said Mr Eugene Lim, Key Executive Officer at ERA Singapore. 'With the ongoing headwinds and slowing economic growth, all of these compelling BTO options on the horizon, HDB buyers may take a wait-and-see approach to evaluate their options fully," he added. Details on the new flats will be shared at the July 2025 BTO and SBF exercises, HDB said. Mr Mohan Sandrasegeran, head of research and data analytics at Singapore Realtors Inc said: "Singapore's public housing ecosystem is becoming more responsive, with supply-side measures and policy flexibility enhancing affordability and access. While demand for larger flats in mature estates may remain firm due to limited availability, the overall price trajectory is expected to remain stable." "Hence, we expect HDB resale prices to grow moderately by 3.5 per cent to 5.5 per cent in 2025," he added. "The market is likely to benefit from a balanced mix of supply, steady demand, and potential policy adjustments, supporting a more sustainable and inclusive housing landscape for the long term." Flat buyers who wish to participate in the July 2025 BTO and SBF exercises must have a valid HDB Flat Eligibility (HFE) letter when they submit their flat application, said HDB. The HFE letter will inform buyers about their eligibility for purchasing a new or resale flat, CPF housing grants, and HDB housing loans, including the respective grant and loan amounts. "We have announced earlier that flat applicants who wish to participate in this sales exercise should apply for an HFE letter and submit all required documents by 15 May 2025," said HDB. "As the number of HFE letter applications tends to peak closer to sales exercise leading to longer processing time, those who did not do so by 15 May 2025 may not receive their HFE letters in time to apply for a flat in the BTO and SBF exercises." Starting from July, the HFE letter application e-Service will be temporarily unavailable during the sales exercise, allowing HDB to "channel (their) resources to provide a smoother flat application experience for flat applicants". New and resale flat buyers with a valid HFE letter as well as those who have already submitted an HFE letter application prior to the July 2025 sales exercises will not be affected, said HDB.
Yahoo
28-06-2025
- Business
- Yahoo
S'pore's new blueprint will give residents more flexibility to choose ideal home: Analysts
SINGAPORE – Singapore's latest draft masterplan will give residents greater flexibility in choosing an ideal living environment across the island, with amenities – as well as workspaces in some cases – located nearer homes, said analysts. The new masterplan – Singapore's land use development blueprint for the next 10 to 15 years – focuses more on creating an environment that fosters a healthier and more active lifestyle, supports the Republic's ageing population and addresses the challenges of climate change, they added. Ms Christine Sun, chief researcher and strategist at property agency OrangeTee Group, said there is a bigger emphasis on an environment that enhances the quality of life for Singaporeans through the provision of more homes with access to sea, river and park views, as well as more parks and amenities, and the preservation of heritage buildings and cultural sites. Furthermore, there is a dedicated effort to build new sports facilities closer to residential areas to encourage a healthier lifestyle, Ms Sun said. This means that Singaporeans will have a more diverse array of housing options to suit their needs, be they near the city centre, schools, parks or waterways. With each community designed to be better connected with essential amenities, this ensures convenient access to schools, healthcare facilities and recreational areas wherever residents choose to live, added Ms Sun. 'All these initiatives will help to create a more balanced, sustainable living experience for all residents, regardless of age and budget,' she said. At least 80,000 public and private homes will be introduced across more than 10 new housing areas in the next 10 to 15 years, with new neighbourhoods planned in areas such as Dover, Defu, Newton and Paterson. Integrated community hubs with sports facilities, healthcare and community spaces are also in the works for Sengkang, Woodlands North and Yio Chu Kang. Mr Marcus Chu, chief executive of real estate agency ERA Singapore, said that with more housing estates catching up in terms of amenities and accessibility, housing demand may start to be spread more evenly across Singapore. This could, in turn, lead to more even price growth across different regions. More land parcels around MRT stations and more business hubs are also being planned outside the Central Business District to bring work closer to homes, spread the load on the transport network and reduce the need to set aside land for roads, said Mr Mark Yip, CEO of property firm Huttons Asia. One such example is the greater one-north precinct, which has developed into a bustling research-and-development hub with more than 50,000 knowledge workers. Mr Lee Sze Teck, Huttons' senior director of data analytics, said there is therefore a need to provide more homes so that the workers can live near their workplaces. 'This will reduce travelling time and stress on the transport network,' he added. The Dover-Medway neighbourhood in the precinct could see 6,000 new public and private homes built in the first phase, while some 5,000 new private homes could be introduced in Mediapolis, which is also in the area. Ms Sun said building more homes in Dover-Medway and Mediapolis will in turn attract more workers, researchers, students and expats to live there, and support business growth in the area. Mr Ismail Gafoor, CEO of property firm PropNex, said land use for three plots in Ayer Rajah Crescent, near Media Circle in one-north, has been changed from business park to residential, with commercial use on the first storey. That should bring more amenities to Media Circle, which is set to see more high-density housing. In addition, two sites in the nearby Singapore Science Park II have been updated from business park use to residential. This ties in with the ongoing rejuvenation of the Science Park, he added. In the heart of town, Paterson – on the doorstep of Orchard Road – could get 1,000 new private homes as part of an integrated development with retail, food and beverage and office spaces above Orchard MRT station. Ms Sun said expanding the residential landscape in the Orchard Road precinct is a good move due to the scarcity of available land in prime areas. New government land sites in prime areas – especially near Orchard Road – are quite rare, and it has been many years since The Orchard Residences, an integrated development near the heart of Orchard, was launched, Ms Sun noted. But given the luxury property market's slower growth, some of these new sites may be placed on the reserve list of the Government Land Sales (GLS) programme, she added. Such sites are launched for sale when a developer offers a minimum price that the Government accepts, or when there is enough market interest. Mr Lee pointed out that the land parcel above Orchard MRT station has been rezoned to a white site, and the plot ratios have been bumped up. White sites refer to land parcels designated for mixed-use development and allow for flexibility in development plans, while plot ratios measure how intensively land can be developed. 'This is a prime opportunity to build an iconic shopping and residential project as the last GLS site above Orchard MRT was Ion Orchard and The Orchard Residences in 2005,' he said. But the 60 per cent additional buyer's stamp duty on foreign buyers may not give developers the confidence to bid for that site if it is launched for sale, Mr Lee added. Meanwhile, Ms Catherine He, head of research at commercial real estate services firm Colliers, said sites including Paya Lebar Air Base (PLAB), Sembawang Shipyard and the former Singapore Racecourse in Kranji were chosen for redevelopment into housing estates to optimise land use for the maximum benefit of residents, and relocate industrial and commercial activities farther out. In particular, the relocation of PLAB in eastern Singapore from 2030 will be a game-changer, said real estate consultancy Knight Frank Singapore's research head Leonard Tay. With about 800ha of land to be freed up for the development of residences, offices, factories and recreational areas, this means that building height restrictions imposed for the safe navigation of aircraft in surrounding towns could be lifted. Although higher plot ratios around PLAB have not been announced in the latest draft masterplan, Mr Tay said it would be reasonable to expect some collective sale opportunities, as older properties that are no longer constrained by low-rise plot ratios could see an increase in land values after 2030. Source: The Straits Times © SPH Media Limited. Permission required for reproduction Discover how to enjoy other premium articles here
