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In The News Press Release
by OrangeTee & Tie Pte Ltd.

New HDB site at Farrer Park with Sports theme

BTO Launches

FOR IMMEDIATE RELEASE

Singapore, 25 April 2022 - HDB has just announced that a Farrer park site will be redeveloped into a Public Housing Estate with integrated sports facilities. 

Comments about the site and upcoming HDB flats 

This seems to be the first BTO project to be built with a sports theme in recent years (it could be the first but we do not have the full historical records to verify). Usually, thematic developments are found in private housing. Therefore, it is rare to find HDB flats being conceptualised and built according to a specific theme. Usually such developments may have a stronger appeal to buyers.  

This project will have an added advantage when compared to other newer BTO flats in the area. Besides sharing the same good location at the fringe of the city centre and being well-served by ample amenities and MRT stations, the Sports theme and facilities are likely to appeal to young couples, given the wide range of sports options offered and sports tend to attract young people. 

The project may also appeal to other Singaporeans, besides young couples, who are sports enthusiasts. The development will help to build a strong community of like-minded sports enthusiasts who can exchange ideas and share collective interests as neighbours, thus strengthening and reinvigorating the Singapore sports scene. The strong sports theme can also encourage other neighbours or seniors to participate and adopt a more active lifestyle. 

Potential PLH flats

Flats in this area may be launched as PLH flats given the proximity to the city centre and integrated sports facilities.  Currently, the median price for resale flats in the Kallang/Whampoa area is about S$755,000 in Q1 2022. The two new PLH flats are also launched nearby. If these flats are launched as PLH flats ( see table for past launched prices), they could be sold around the same price as the previous PLH flats, or slightly higher to take into account inflation should they be sold a few years down the road.  Therefore 4-room flats in this project may range from S$550,000 to S$700,000 when launched.


The site will likely see high demand when launched. Previous BTO launches for Kent Heights, River Peaks I & II, and King George’s Heights saw an oversubscription for all three projects. The overall application rate for this site may exceed 10 if launched as PLH flats and exceed 8 if they are BTO flats (slightly lower as the launch price may be higher than if they are launched as PLH flats - which are typically launched at lower prices to compensate for the longer MOP and more stringent selling criteria), depending on the market condition when launched. 



Prices of new flats in this location are attractive compared to private housing. The median price of new condominiums in district 8 from Q1 2021 to Q1 2022 is S$1,897 psf while resale condominiums are S$1,447 psf.  Existing new projects like Uptown@ Farrer is transacting at S$1,893 psf median price from Q1 2021 to Q1 2022 while resale projects like Citylights and City Square Residences are transacting at S$1,570 psf and S$1,724 psf respectively.  The indicative price of an upcoming launch Piccadily Grand is expected to be above S$2,000 psf. The large price gap between public and private housing in the same area will keep flats attractive for their affordability. 




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