by OrangeTee & Tie Pte Ltd.

HDB to launch the first BTO project in the Greater Southern Waterfront (GSW) in 3 years

BTO Launches

Singapore, 12 Apr 2022

The first HDB BTO project in the Greater Southern Waterfront (GSW) would be launched in three years, according to National Development Minister Desmond Lee.

On the site of the Keppel Club, where the lease will expire in June this year following a six-month extension, a total of 9,000 units will be developed. A portion of the golf course, including the clubhouse, has had its lease extended until March 2023.

Approximately 6,000 homes will be for public housing, with the remaining 3,000 units slated for private development. These will be phased in over the following three to five years, according to URA.

Christine Sun, Senior Vice President of Research and Analytics at OrangeTee & Tie, predicts that 4-room PLH flats in GSW will range from S$500,000 to S$700,000.

On the other hand, she expects 4-room non-PLH flats in the area to be priced from S$600,00 to S$720,000.

“Prices of the new PLH flats may be close to or slightly higher than the launch prices of those at River Peaks and King George’s Heights. Prices may be higher as we may need to take into account inflation especially for projects that are launched a few years down the road. Some of the prices for PLH flats could be slightly lower than BTO flats as it takes into account the longer MOP period and more stringent selling criteria.”

As for the new condos, Sun expects prices to be close to or higher than the current transacted price at The Reef at King’s Dock. In Q1 2022, the median price of units in the condo has reached S$2,405 psf.

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