HDB to redevelop Tanglin Halt and build integrated development
Tanglin Halt estate, one of Singapore’s first housing project estates in Queenstown, will be redeveloped into a brand-new integrated development.
Wong includes that Tanglin Halt Cascadia apartments were priced from $364,000 to $509,000 for three-room condos 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 incorporated project might be valued somewhat higher, granted its host of establishments inside the project, but will likely still be extra affordable than prices in the resale market.”
Wong Siew Ying, head of research study and content at PropNex, claims the Tanglin Halt Cascadia BTO job drew in 1,193 applicants, translating to an application level of 1.23 times. Wong states: “This was rather modest, provided the site’s city fringe spot in the popular Queenstown area. We believe the new flats at the Tanglin Halt incorporated project needs to most likely see a warmer action when they are launched up for sale, as purchasers often tend to be attracted to incorporated advancements.”
Lee claims more flats, in addition to brand-new commercial services and social and communal centers, are expected to release next year. This will definitely bring attention to existing resale housing in the location, such as Commonwealth View, which is much demanded for its prime location and panoramas. “There might be much more million-dollar apartments in Commonwealth View in the future.”
To get finalized in two stages, the progression will likely be located at the previous Tanglin Halt Neighborhood Centre spot, mentioned the minister in his keynote at the HDB Professional Engagement and Knowledge-sharing (PEAK) Forum. The previous Commonwealth Drive Food Centre and presenting Tanglin Halt Market remain in the area facility.
The new integrated project is going to include a hawker centre, market and polyclinic along with up to 5,500 new non commercial condos, Senior Minister of State, Ministry of National Development and Ministry of Communications and Information Tan Kiat How revealed on Oct 19.
” The kinds of flats may vary from two-room flexi to four-room to deal with a large range of purchasers that intend to stay in this landmark development. Rates for a four-room level might start from $550,000 to as high as $720,000,” states Lee. The initial of the PLH BTO job is the 973-unit Tanglin Halt Cascadia that was introduced for business this month.
Lee Sze Teck, Huttons Asia’s senior director of data analytics, says the Tanglin Halt integrated project will be a new landmark in the place. “It is nice to consider that some aspects of the older food center and market will certainly be integrated into the brand-new improvement.”
Lee adds that the new prime location real estate (PLH) and build-to-order (BTO) apartments can go beyond 40 storeys and might yield in between 700 and 800 flats.
The transformation of Tanglin Halt estate will definitely carry young families to the area and inject greater excitement inside the community, Wong adds.