HDB to redevelop Tanglin Halt and build integrated development
Lee Sze Teck, Huttons Asia’s senior executive of data analytics, states the Tanglin Halt integrated project will be a brand-new site in the area. “It is good to note that a few elements of the outdated food center and market will certainly be included right into the new property development.”
” The sorts of condos may vary from two-room flexi to four-room to deal with a wide range of customers that want to stay in this spots advancement. Costs for a four-room level might start from $550,000 to as high as $720,000,” claims Lee. The first of the PLH BTO project is the 973-unit Tanglin Halt Cascadia that was released for business this month.
Wong Siew Ying, head of research study and content at PropNex, says the Tanglin Halt Cascadia BTO job attracted 1,193 applicants, converting to an application level of 1.23 times. Wong states: “This was rather mild, granted the area’s city fringe spot in the prominent Queenstown area. We think the brand-new flats at the Tanglin Halt incorporated development ought to probably see a warmer response when they are released for sale, as customers often tend to be attracted to incorporated advancements.”
The brand-new integrated development will likely include a hawker centre, market and polyclinic in addition to up to 5,500 brand-new non commercial flats, Senior Minister of State, Ministry of National Development and Ministry of Communications and Information Tan Kiat How revealed on Oct 19.
To be finalized in two phases, the progression will likely be found at the former Tanglin Halt Neighbourhood Centre site, said the minister in his address at the HDB Professional Engagement and Knowledge-sharing (PEAK) Forum. The former Commonwealth Drive Food Centre and existing Tanglin Halt Market remain in the area centre.
Lee claims more apartments, together with brand-new business features and social and common facilities, are expected to launch next year. This will bring attention to existing resale housing in the location, such as Commonwealth View, which is much sought after for its prime place and panoramas. “There might be a lot more million-dollar condos in Commonwealth View in the future.”
Lee adds that the new prime area housing (PLH) and build-to-order (BTO) flats could surpass 40 storeys and may yield in between 700 and 800 condos.
Tanglin Halt estate, just one of Singapore’s oldest public housing estates in Queenstown, will be redeveloped into a new integrated advancement.
Wong includes that Tanglin Halt Cascadia apartments were valued from $364,000 to $509,000 for three-room flats and $537,000 to $702,000 for four-room apartments before grants. “It is quite achievable that brand-new condos at the future Tanglin Halt integrated project might be rated slightly higher, provided its host of centers within the property, yet will still be much more affordable than prices in the resale market.”
The change of Tanglin Halt estate will certainly bring young households to the area and infuse better excitement inside the area, Wong incorporates.