Project analysis
Choa Chu Kang – Rail Green I & II @ CCK
We expect demand to be strong for the flats in Choa Chu Kang. A short walk away from various amenities, an MRT station and other transport nodes, future BTO flats may be classified under Plus flats. Therefore, those who do not want to be committed to a 10-year MOP may apply for a new flat now since the MOP is still five years. Moreover, this sales launch offers large flats like 5-room and 3Gen flats, which will appeal to big families. Singles who wish to apply in the same location as their extended families may also apply.
Kallang/Whampoa – Verandah @ Kallang, Rajah Residences, Tenteram Vantage
Verandah @ Kallang, which falls under the PLH model, may be considered the most attractive of the three sites given its proximity to Kallang MRT station, the Singapore Sports Hub and Kallang Wave Mall. The Tenteram Vantage flats may be the least attractive as it is at the intersection of the Pan-Island Expressway and the Central Expressway, and residents may have to endure noise and dust. With almost 3,000 flats offered across three plots, overall application rates may be lower since the total number of flats is high. We anticipate more people applying for the plot at Kallang/ Whampoa to try to get a unit at Verandah @ Kallang.
Queenstown – Tanglin Halt Cascadia
We anticipate keen demand for these flats, which fall under the PLH model, 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. It is located next to the Rail Corridor, an attractive place to visit over the weekends for families and within the Health District @ Queenstown. The site may also be popular with residents working in the one-north area, just a short distance away.
Moreover, private homes in the vicinity are sold at a much higher price tag. For instance, nearby condos ranging from 800 to less than 1,200 sqft were transacted at a median price of S$1.42 million at The Rochester Residences, S$1.33 million at One-North Residences, and S$2.04 million at Stirling Residences in the first half of this year.
Tengah – Plantation Edge I & II
We expect demand to be healthy as these flats are directly next to the future Tengah Park Station on the Jurong Region Line (JRL), which may fall under the Plus flat classification for future BTO flats. Although these flats are not within a 1-km radius of the future ACS Primary in Tengah, it is still near other popular primary schools like Princess Elizabeth Primary School.