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Singapore Private Property prices still up or down? Part III

pChou

By pChou,
in Property Buzz

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Alfc

Alfc

5th Gear

At the stroke of a plan, it will make some winners today become losers tomorrow and vice versa. 

 

And with climate change suddenly the talk of town, a supposedly freehold goldmine can also become a worthless mangrove swamp. Since so many foreigners vested here, should tax them heavily to foot the bill for the walls.

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Showster

Showster

Twincharged
(edited)

https://www.gov.sg/microsites/ndr2019/greater-southern-waterfront

The idea of adding 9000 units to the Keppel area has many implications

So will they be government HDB or EC

Or will they be private

 

If they are HDB then at one fell stroke the popularity of units in Punggol, Seng Kang and even the new paya lebar areas may become less popular. Given their connectivity issues in the northeast, the property value may plummet.

Likewise those telok blangah flats will suffer with newer flats that have better views.

 

If they are solely private then itâs also going to affect prices of older flats near HarbourFront and even newer ones like the Interlace

 

The draw to stay in town and pay high prices will be less. Those surrounding super expensive condos with less than 90 year lease will drop in price if the new ones are priced lower.

 

The west coast highway may become busy.

Henderson road will also become crowded.

VivoCity stands to benefit big time and rental there may rise.

 

Further down the road, in the quieter areas near train stations, units there stand to benefit from the GSW.

But more ulu places like Whistler and Clematis may face competition and buyers will be drawn to these new ones in time and the upside for these units will be lower.

 

Condos surrounding the Mapletree and the new PSA buildings will benefit greatly.

Houses in the area will get more shops, recreational areas etc do its an exciting time for the belt from Pasir Panjang to Haw Par

 

All in all, very exciting indeed..

More eateries, shops and parks sounds like all good news

Also if a recession comes buyers may hold fire and as the units surrounding the new Keppel area get older they will lose value and make it cheaper for buyers to get a unit.

The government can build HDB units there at AMK prices and there will still be takers.

Also, need to consider how much more expensive these new buildings will be, with land cost, construction cost, and extra climate change consideration and features in these premium developments.

 

9000 units is also only a drop in the bucket, only a year’s supply. In the 20, 30 years, really not much to mention.

Edited by Showster
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Wt_know

Wt_know

Supersonic
(edited)

the prime time news all the sexpert talk about the 9k units

ideas is pattern more than badminton

as if every single unit is $5M a pop

sibei huat ah!!!

Edited by Wt_know
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Showster

Showster

Twincharged

Another point for consideration is that each area will have its own distinctive ecosystem.

 

GSW will be positioned as recreational, ultra premium and luxury seafront living. It’s highly possible for HDB lease here to be 30LH, 45LH or 60LH.

 

West is educational and manufacturing; east is recreational and cultural; North has its own industrial and residential region.

 

Each sector may have its own distinctive pricing structure as well.

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therock

therock

Supersonic

Many questions to ponder

HDB flats there will be controversial..

do you price it much higher?

Or just a bit more than average and the owner who manages to get one will be a lottery winner sitting on a huge windfall immediately?

Or go totally private and the entire area gets priced at lofty prices? 2500 psf maybe?

9000 units will be more than what hillview currently has, so will it be too much?

Maybe some units won’t get any sea views and the entire area ends up being very cramped? I’ve been to the club and whilst there’s space, it’s not that massive like Paya Lebar..

Will there be a lot of choke points like Punggol?

Will the circle line suddenly be packed?

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Mercs

Mercs

Hypersonic

Today, only some HDB resale are hitting the 1mil mark or above

Future, even new BTO also ..... 'no 1mil no talk' !!!

 

Huat ah! [:p]

 

https://www.businesstimes.com.sg/government-economy/hdb-flats-on-prime-keppel-club-site-premium-prices-or-tweaked-sales-terms

HDB flats on prime Keppel Club site: Premium prices or tweaked sales terms?

 

(Consultant sees new 5-room unit there at close to S$1m; Lawrence Wong had previously suggested different sales terms for future city flats)

 

expects the HDB to launch Build-to Order (BTO) flats on the site at close to S$1 million for a five-room unit, "so one can expect that the resale prices, when the time comes, will be even higher".

 

Minister for National Development Lawrence Wong in 2016, when he disclosed that the government could look at selling future public housing in the city under a different model - such as by imposing a longer MOP, a lease shorter than the existing 99 years, or a higher resale levy - to address the lottery effect.

post-18880-0-07503500-1566255893_thumb.jpg

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Wt_know

Wt_know

Supersonic
(edited)

we must build a asgard shield to protect from Haze first? [sly][laugh]

 

Maybe before Trump builds the Wall , we will first

 

post-7984-0-22031700-1566259822_thumb.jpg

Edited by Wt_know
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Nav14

Nav14

6th Gear

Don't know. Probably human nature who wants to be around people of the same race / type / culture. Even Mandarin Gardens is now known as "Mumbai Gardens". Not only that, they also take over the MC in many of these condos. But it has helped spur the condo prices in the area. 

 

They even monopolise / control the MCs of condos where they are just a small minority. Because our apathetic Sinkies allow them to do so.

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Mkl22

Mkl22

Twincharged
(edited)

The year that area is more or less ready with 9000 units is 2040 to even 2050.

 

Most of the developments you mentioned will be at enbloc stage then.

 

From now until then, a whole lifetime of work and activity still needs to be committed, along with an acute short term supply crunch.

 

ya, the keppel plan is at least 10-15 years in the making. who knows what will happen then.

 

then there is the huge tract of land at paya lebar airbase.

 

one thing is for sure... 10M here we come. else build so many units for ghost to stay ah?

Edited by Mkl22
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13177

13177

Supersonic

ya, the keppel plan is at least 10-15 years in the making. who knows what will happen then.

 

then there is the huge tract of land at paya lebar airbase.

 

one thing is for sure... 10M here we come. else build so many units for ghost to stay ah?

So many extra land coming up to develop and build residential, no wonder they can allow so many old flats to rot until the 99 years lease is up and no need to tear them down to make way for new residential?!

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