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Latest Property Real Estate News - Published on 25/01/2011
Three new Build-To-Order (BTO) units were released today by HDB: Golden Daisy in Bukit Batok, and Orchid Spring @ Yishun and Vista Spring @ Yishun.
“The 180 units at Golden Daisy, at a median price of around $100,000, are clearly targeted at senior citizens,” observes PropNex Corporate Communications Manager Mr Adam Tan. “Besides the word play on the name, alluding to a residence at where one can spend one’s golden years, there are also features catering to the elderly, such as a fitness station, ramps and support bars.”
However, as studio apartments are never in very high demand, Mr Tan does not expect a high over-subscription rate for Golden Daisy units.
“While the development is situated near a park and neighbourhood centre for the residents’ enjoyment,” he says, “they would still have to take the bus to the nearby Bukit Batok MRT Station, which is some few hundred metres away.”
Over at Orchid Spring @ Yishun and Vista Spring @ Yishun, two BTO projects that are side by side, the target audience is clearly young couples and families.
Besides playgrounds, fitness stations and a jogging track, Orchid Spring even boasts a child care centre within the development itself.
“This would be an attractive consideration for young couples who are planning to start their family here,” says Mr Tan, “as would the fact that there is an abundance of primary and secondary schools in the vicinity, as well as parks and Lower Seletar Reservoir for recreational activities.”
He continues on to say that while the developments are not that close to the MRT network, the presence of an eating house and mini-mart will afford residents some welcome convenience. However, Mr Tan concedes that pricing will play a huge part in the buyers’ decision.
“The biggest draw for young couples who are not planning to start a family just yet would be the 3-room flats at Orchid Spring @ Yishun,” says Mr Tan, “as the indicative median price at about $166,000 is around 40% cheaper than current median resale prices in Yishun.”
Mr Tan expects over-subscription rates for the 3-room flats to be at least five times if not more, based mainly on the very attractive pricing.
“The indicative median prices for the 4-room and 5-room flats, at about $254,000 and $322,000 respectively, are about 23% cheaper than prevailing median resale prices in the Yishun area. In addition, almost half of the flats offered are 4-room types. Hence,” he forecasts, “the oversubscription rate for the 4-room and 5-room flats would be about five to seven times.”
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For enquiries, please contact:
Adam Tan (Corporate Communications Manager) 9006 8726
