HDB to redevelop Tanglin Halt and build integrated development
The new integrated property development will also include a hawker facility, market and polyclinic along with as much as 5,500 brand-new residential apartments, Senior Minister of State, Ministry of National Development and Ministry of Communications and Information Tan Kiat How announced on Oct 19.
Wong Siew Ying, head of research study and content at PropNex, states the Tanglin Halt Cascadia BTO project attracted 1,193 clients, translating to an application rate of 1.23 times. Wong claims: “This was very moderate, granted the site’s city fringe place in the popular Queenstown area. We think the brand-new apartments at the Tanglin Halt integrated property development must probably see a warmer action when they are launched up for sale, as purchasers often tend to be attracted to incorporated growths.”
Tanglin Halt estate, just one of Singapore’s first housing project estates in Queenstown, are going to be redeveloped into a new integrated growth.
Lee adds in that the brand-new prime place housing (PLH) and build-to-order (BTO) apartments can go beyond 40 storeys and might yield in between 700 and 800 condos.
Wong includes that Tanglin Halt Cascadia condos were marked up from $364,000 to $509,000 for three-room condos and $537,000 to $702,000 for four-room flats before grants. “It is quite achievable that new condos at the future Tanglin Halt integrated development can be valued a little greater, given its host of facilities within the project, yet will still be extra budget-friendly than rates in the resale market.”
Lee Sze Teck, Huttons Asia’s senior executive of information analytics, says the Tanglin Halt integrated development will certainly be a new site in the location. “It is nice to consider that a number of components of the outdated food facility and market will be incorporated right into the brand-new improvement.”
To get finalized in 2 phases, the growth will be located at the previous Tanglin Halt Area Centre location, said the minister in his keynote at the HDB Professional Engagement and Knowledge-sharing (PEAK) Forum. The previous Commonwealth Drive Food Centre and continuing Tanglin Halt Market are in the neighbourhood centre.
” The types of flats might vary from two-room flexi to four-room to cater to a large range of buyers who wish to stay in this site development. Prices for a four-room flat could begin with $550,000 to as high as $720,000,” states Lee. The very first of the PLH BTO job is the 973-unit Tanglin Halt Cascadia that was introduced for sale this month.
Lee says a lot more apartments, in addition to new commercial features and social and common facilities, are expected to release next year. This will certainly bring interest to existing resale housing in the location, such as Commonwealth View, which is much searched for its top location and scenic views. “There might be much more million-dollar condos in Commonwealth View in the future.”
The makeover of Tanglin Halt estate will provide newer households to the location and infuse higher excitement into the area, Wong adds.