HDB to redevelop Tanglin Halt and build integrated development
The new incorporated property development will likely consist of a hawker facility, market and polyclinic as well as much as 5,500 new non commercial flats, Senior Minister of State, Ministry of National Development and Ministry of Communications and Information Tan Kiat How introduced on Oct 19.
Lee Sze Teck, Huttons Asia’s top director of data analytics, says the Tanglin Halt incorporated property development will be a new landmark in the location. “It is nice to consider that some aspects of the older food centre and market will certainly be included right into the brand-new development.”
The change of Tanglin Halt estate will carry newer families to the location and inject higher excitement within the neighbourhood, Wong adds.
To be completed in two phases, the progression is going to be found at the former Tanglin Halt Neighborhood Centre site, said the minister in his keynote at the HDB Professional Engagement and Knowledge-sharing (PEAK) Forum. The former Commonwealth Drive Food Centre and presenting Tanglin Halt Market are in the area center.
Wong includes that Tanglin Halt Cascadia condos were valued from $364,000 to $509,000 for three-room apartments and $537,000 to $702,000 for four-room flats prior to grants. “It is quite feasible that new apartments at the future Tanglin Halt integrated property development might be valued slightly greater, given its host of facilities throughout the property, however will likely still be extra affordable than costs in the resale market.”
Lee states a lot more condos, along with brand-new business features and social and common facilities, are expected to release next year. This will bring attraction to existing resale housing in the location, such as Commonwealth View, which is much demanded for its prime area and scenic views. “There may be much more million-dollar flats in Commonwealth View in the future.”
Lee adds in that the new prime area real estate (PLH) and build-to-order (BTO) condos might go beyond 40 storeys and may generate in between 700 and 800 condos.
” The sorts of flats may vary from two-room flexi to four-room to cater to a variety of customers that wish to stay in this spots development. Costs for a four-room level could start from $550,000 to as high as $720,000,” says Lee. The very first of the PLH BTO job is the 973-unit Tanglin Halt Cascadia that was introduced for purchase this month.
Wong Siew Ying, head of research study and content at PropNex, says the Tanglin Halt Cascadia BTO work drew in 1,193 clients, converting to an application level of 1.23 times. Wong says: “This was quite mild, granted the site’s city fringe spot in the preferred Queenstown neighbourhood. We believe the brand-new apartments at the Tanglin Halt incorporated development ought to probably see a warmer action when they are launched up for sale, as buyers often tend to be attracted to integrated growths.”
Tanglin Halt estate, one of Singapore’s eldest public housing estates in Queenstown, are going to be redeveloped into a brand-new incorporated development.