Punggol Topaz popular with home buyers
By Joanne Chan | Posted: 04 January 2011 1147 hrs
SINGAPORE : The Housing and Development Board's (HDB) latest public housing project, Punggol Topaz, is a hit with home buyers.
As at 5pm on Tuesday, it received 6,846 applications for the 1,010 units available. This works out to nearly 7 applications for each unit offered. Applications close at midnight.
But the strong demand for new flats is proving to be a continuing problem for those in search of their first home.
27-year-old Han Heyuan and his fiancee Kristin Chan have been house-hunting for the past two years.
Put off by high asking prices in the resale market, they set their sights on a new flat.
But it has been four times unlucky for the couple.
They said: "We have tried for four different applications - two BTO (Build-To-Order) flats and two Sale of Balance Flats. And so far, we have not been successful. We had a few opportunities to do an HDB (first) appointment. But unfortunately, by the time our queue number arrived, we received the unfortunate SMS from HDB that our ethnic quota has been filled."
Hoping their fifth attempt proves to be the winner, the couple recently applied for a five-room flat in Punggol Topaz.
HDB sets aside 95 per cent of all new flats for first timers. But for couples like Mr Han and his fiancee, the odds do not appear to be in their favour. Short of a successful ballot this time, their only option is to continue staying with their parents or to fork out thousands of dollars in cash to secure a resale flat.
Market watchers are not surprised by the strong interest in Punggol Topaz, due to its good location - it is walking distance to Punggol MRT station and Punggol Reservoir.
Another factor is the price.
Eugene Lim, associate director at ERA Asia Pacific, said: "The pricing of the flats is about 20 to 25 per cent cheaper than resale flats in the area. And these resale flats are already 10 years old. So this makes the new flats attractive to first-time buyers."
For example, a four-room unit in Punggol Topaz costs S$329,000, while a similar sized resale flat in the surrounding area can fetch up to S$432,000.
Market watchers said Punggol Topaz is unique in its attributes and not all projects will see such a high demand.
The last BTO project in Yishun drew just over three applicants for each unit offered.
HDB has said it plans to release 11,000 new flats in the first half of this year.
- CNA/ac/ms
- wong chee tat :)
Showing posts with label Pungool. Show all posts
Showing posts with label Pungool. Show all posts
Monday, January 10, 2011
Wednesday, December 22, 2010
BTO project in Punggol launched
BTO project in Punggol launched
By S Ramesh | Posted: 22 December 2010 1234 hrs
SINGAPORE: The Housing & Development Board (HDB) has launched another Build-To-Order (BTO) project - the Punggol Topaz with 1,010 standard flats - in Punggol.
HDB said 95 per cent of the flat supply would be set aside for first-timer households.
With the launch on Wednesday, HDB would have offered a total of 17,713 new flats for sale under the BTO and Sale of Balance Flat exercise in 2010.
Punggol Topaz, located along Punggol Way and Punggol Field, comprises 184 units of three-room, 542 units of four-room and 284 units of five-room flats.
Facilities to be provided at this development include a supermarket, an eating house, shops, a child care centre, and a Residents' Committee Centre.
Other facilities available in Punggol town to serve the future residents include the nearby Punggol MRT/LRT station, bus interchange, and the future town centre.
The Tampines Expressway (TPE) and Kallang-Paya Lebar Expressway (KPE) are a short drive away, offering good connectivity to the rest of Singapore.
In line with HDB's plans to develop Punggol as an Eco-Town, Punggol Topaz is designed for Green Mark Certification, with eco-friendly features.
The layout of blocks and units is oriented to minimise heat gain from the sun.
It is designed with ecologically friendly features such as dry ponds and rain gardens that help to maintain the quality of surface runoff from rainwater before it is discharged into the drainage system.
The selling prices for the flats range from S$166,000 to S$207,000 for a three-room flat, S$267,000 to S$329,000 for a four-room flat and S$335,000 to S$406,000 for a five-room flat.
For 2011, HDB said it is prepared to launch up to 22,000 new BTO flats, if demand is sustained.
In the first quarter of next year, HDB will launch about 5,000 BTO flats. These BTO flats will be located in towns such as Bukit Panjang, Jurong West, Yishun and Sengkang.
The next BTO launch in January 2011 will offer 1,700 flats in Bukit Batok and Yishun.
- CNA/wk
- wong chee tat :)
By S Ramesh | Posted: 22 December 2010 1234 hrs
SINGAPORE: The Housing & Development Board (HDB) has launched another Build-To-Order (BTO) project - the Punggol Topaz with 1,010 standard flats - in Punggol.
HDB said 95 per cent of the flat supply would be set aside for first-timer households.
With the launch on Wednesday, HDB would have offered a total of 17,713 new flats for sale under the BTO and Sale of Balance Flat exercise in 2010.
Punggol Topaz, located along Punggol Way and Punggol Field, comprises 184 units of three-room, 542 units of four-room and 284 units of five-room flats.
Facilities to be provided at this development include a supermarket, an eating house, shops, a child care centre, and a Residents' Committee Centre.
Other facilities available in Punggol town to serve the future residents include the nearby Punggol MRT/LRT station, bus interchange, and the future town centre.
The Tampines Expressway (TPE) and Kallang-Paya Lebar Expressway (KPE) are a short drive away, offering good connectivity to the rest of Singapore.
In line with HDB's plans to develop Punggol as an Eco-Town, Punggol Topaz is designed for Green Mark Certification, with eco-friendly features.
The layout of blocks and units is oriented to minimise heat gain from the sun.
It is designed with ecologically friendly features such as dry ponds and rain gardens that help to maintain the quality of surface runoff from rainwater before it is discharged into the drainage system.
The selling prices for the flats range from S$166,000 to S$207,000 for a three-room flat, S$267,000 to S$329,000 for a four-room flat and S$335,000 to S$406,000 for a five-room flat.
For 2011, HDB said it is prepared to launch up to 22,000 new BTO flats, if demand is sustained.
In the first quarter of next year, HDB will launch about 5,000 BTO flats. These BTO flats will be located in towns such as Bukit Panjang, Jurong West, Yishun and Sengkang.
The next BTO launch in January 2011 will offer 1,700 flats in Bukit Batok and Yishun.
- CNA/wk
- wong chee tat :)
Friday, December 3, 2010
Prive EC project in Punggol attracts strong turnout at launch
Prive EC project in Punggol attracts strong turnout at launch
By Joanne Chan | Posted: 03 December 2010 1945 hrs
SINGAPORE : Singapore's latest executive condominium (EC) saw a strong turnout of potential home buyers on the first day of its launch.
Market watchers predict the Prive will be popular because of the renewed interest in this type of housing.
Executive condos are a hybrid of private and public housing which made a comeback this year after a five-year hiatus.
Located near Punggol MRT station, Prive is priced at $660 to $690 per square foot(psf).
Jointly developed by NTUC Choice Homes and CEL Development, it offers 680 two to four-bedroom units.
Available to those with a maximum household income of $10,000, executive condos offer more choices for home buyers who are often known as the "sandwiched class".
These people are not eligible for new flats due to an income limit of $8,000, but find private housing too expensive.
Analyst Nicholas Mak said Prive is a more affordable option compared to a mass market condo in Punggol, which can go for between $800 and $900 psf.
He added that executive condos plug a gap in the market, as the price difference between resale flats and condos continue to widen.
Another draw - a deferred payment scheme to make it more affordable for home buyers, especially first-timers.
Margaret Goh, CEO, NTUC Choice Homes, said: "They have less cash, so this will help them. They also have priorities, for example, they are making their wedding preparations, they will need cash for renovations."
Potential home buyers Channel NewsAsia spoke to found the location and pricing attractive.
"With all the facilities at a competitive price as compared to private property, we decided to try," said one potential home buyer.
"Punggol 21 is a very nice place, especially the waterway," said another.
Prive is the third EC project launched this year.
The Esparina, launched in October, sold 425 of its 573 units within the month.
The Canopy, also launched in October, sold 104 of its 406 units within the month.
- CNA/ch
- wong chee tat :)
By Joanne Chan | Posted: 03 December 2010 1945 hrs
SINGAPORE : Singapore's latest executive condominium (EC) saw a strong turnout of potential home buyers on the first day of its launch.
Market watchers predict the Prive will be popular because of the renewed interest in this type of housing.
Executive condos are a hybrid of private and public housing which made a comeback this year after a five-year hiatus.
Located near Punggol MRT station, Prive is priced at $660 to $690 per square foot(psf).
Jointly developed by NTUC Choice Homes and CEL Development, it offers 680 two to four-bedroom units.
Available to those with a maximum household income of $10,000, executive condos offer more choices for home buyers who are often known as the "sandwiched class".
These people are not eligible for new flats due to an income limit of $8,000, but find private housing too expensive.
Analyst Nicholas Mak said Prive is a more affordable option compared to a mass market condo in Punggol, which can go for between $800 and $900 psf.
He added that executive condos plug a gap in the market, as the price difference between resale flats and condos continue to widen.
Another draw - a deferred payment scheme to make it more affordable for home buyers, especially first-timers.
Margaret Goh, CEO, NTUC Choice Homes, said: "They have less cash, so this will help them. They also have priorities, for example, they are making their wedding preparations, they will need cash for renovations."
Potential home buyers Channel NewsAsia spoke to found the location and pricing attractive.
"With all the facilities at a competitive price as compared to private property, we decided to try," said one potential home buyer.
"Punggol 21 is a very nice place, especially the waterway," said another.
Prive is the third EC project launched this year.
The Esparina, launched in October, sold 425 of its 573 units within the month.
The Canopy, also launched in October, sold 104 of its 406 units within the month.
- CNA/ch
- wong chee tat :)
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