SINGAPORE — Two prime location projects located in Kallang and Tanglin Halt were launched in the October Build-to-Order (BTO) exercise.
The projects — Verandah @ Kallang and Tanglin Halt Cascadia — comprise 2,116 units, part of the total of 6,800 flats for sale under this month’s exercise, the Housing and Development Board (HDB) said on Wednesday (Oct 4).
Six of the eight projects have a waiting time of four years and below.
Also launched in this exercise are those in mature estates such as Rajah Residences and Tenteram Vantage in Kallang/Whampoa, and non-mature estates such as Plantation Edge I and II in Tengah and Rail Green I and II@CCK in Choa Chu Kang.
As prime location projects, Verandah @ Kallang and Tanglin Halt Cascadia are priced with additional subsidies on top of the “substantial market discounts” applied across all BTO flats, HDB said.
Owners will have to return 6 per cent of the resale price or valuation — whichever is higher — upon the sale of their flats.
Verandah @ Kallang consists of five residential blocks with 1,143 units on offer. This includes two-room Flexi, three-room and four-room flats. Excluding grants, prices start from S$193,000 for a two-room Flexi, while three-room and four-room units start from S$368,000 and S$535,000 respectively.
According to OrangeTee and Tie’s senior vice-president of research and analysis Christine Sun, the project’s proximity to Kallang MRT station, Singapore Sports Hub and Kallang Wave Mall may make it the most attractive of the three projects launched in the Kallang/Whampoa area.
“We anticipate more people applying for the plot at Kallang/Whampoa to try to get a unit at Verandah @ Kallang.”
The other prime location housing project, Tanglin Halt Cascadia, comprises four residential blocks, with a total of 973 units of three-room and four-room flats.
Excluding grants, three-room flats start from S$364,000, while a four-room flat will cost at least S$537,000.
Ms Sun expects “keen demand” for these flats, as Queenstown has always been popular among buyers.
“As a mature estate, many amenities exist, such as a short walk from Commonwealth MRT station, near a food court and supermarket,” she said, also noting its proximity to the Rail Corridor.
The location may also be popular with residents working in the nearby one-north area, she added.
Twenty per cent of the flats in the two prime location projects will be set aside for first-timer families, while 2 per cent will be for second-timer families under the Married Child Priority Scheme. This is two-thirds of the usual quotas.