HDB to redevelop Tanglin Halt and build integrated development
The brand-new integrated property development will likely include a hawker facility, market and polyclinic along with up to 5,500 brand-new household apartments, 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 senior supervisor of data analytics, says the Tanglin Halt incorporated property development will be a brand-new spots in the area. “It is good to consider that a few elements of the old food center and market will certainly be integrated into the new property development.”
” The kinds of flats might range from two-room flexi to four-room to accommodate a wide variety of customers that intend to stay in this spots development. Prices for a four-room flat can begin with $550,000 to as high as $720,000,” claims Lee. The very first of the PLH BTO job is the 973-unit Tanglin Halt Cascadia that was released for business this month.
Wong includes that Tanglin Halt Cascadia condos were marked up from $364,000 to $509,000 for three-room flats and $537,000 to $702,000 for four-room apartments before grants. “It is fairly feasible that new condos at the future Tanglin Halt integrated property development could be valued somewhat greater, given its host of facilities inside the project, but will likely still be much more reasonably priced than prices in the resale market.”
Lee says more apartments, along with new commercial amenities and social and communal facilities, are expected to release next year. This will definitely bring interest to existing resale housing in the location, such as Commonwealth View, which is much sought after for its prime area and scenic views. “There may be a lot more million-dollar apartments in Commonwealth View in the future.”
Wong Siew Ying, head of research study and content at PropNex, claims the Tanglin Halt Cascadia BTO project brought in 1,193 prospects, converting to an application rate of 1.23 times. Wong claims: “This was rather modest, given the area’s city fringe spot in the prominent Queenstown area. We assume the brand-new apartments at the Tanglin Halt integrated project must most likely see a warmer response when they are introduced for sale, as customers tend to be attracted to incorporated growths.”
Lee includes that the new prime area housing (PLH) and build-to-order (BTO) apartments could go beyond 40 storeys and may produce between 700 and 800 apartments.
To get finalized in two stages, the progression will likely be situated at the previous Tanglin Halt Neighbourhood Centre spot, mentioned the minister in his address at the HDB Professional Engagement and Knowledge-sharing (PEAK) Forum. The previous Commonwealth Drive Food Centre and existing Tanglin Halt Market are in the neighbourhood centre.
Tanglin Halt estate, among one of Singapore’s oldest housing project estates in Queenstown, will be redeveloped into a brand-new integrated development.
The change of Tanglin Halt estate will provide younger households to the location and insert greater excitement within the neighbourhood, Wong incorporates.