Saturday, 7 February 2015

Eye on Punggol: Waterfront living and more - PropertyGuru

In recent years, the northeast of Singapore has been rapidly developing and Punggol has been a poster child for the region as it transforms into a residential eco-town, as Muneerah Bee finds out.
In 2007, the government unveiled HDB’s plans to create Punggol 21 Plus, which features a new waterway running through the town with residential developments on both sides. This vision of ‘A Waterfront Town of the 21st Century’ is coming to fruition as more projects have been completed recently.
Punggol’s 150,000 current residents can also expect new retail facilities and recreation amenities, as well as better transport connectivity.
There are several plans for Punggol mapped out in the Urban Redevelopment Authority (URA) Master Plan 2014 which includes the Punggol Town Hub, an integrated community hub located within the town centre. The development will have a Community Centre, hawker centre and a regional library. Additionally, the Punggol Town Square will serve as a vibrant gathering space for community activities.
For retail needs, Punggol’s first integrated waterfront residential and retail development, Waterway Point, will be built adjacent to Punggol MRT station.
Providing affordable healthcare options for residents, a new polyclinic along Punggol Drive outside Oasis LRT station will be built by 2017, and the Bright Hill Evergreen Nursing Home on Punggol Field is easily accessible by Riviera LRT.
For residents with young families, additional primary schools will be built in the coming years to meet the needs of residents as the Punggol population is expected to rise.
Punggol at its peak
The URA Master Plan 2014 also indicates new waterfront housing districts will be spread across Punggol to provide even more housing choices: “This will start with the Matilda District, which will pay homage to the former plantations and historic Matilda House in the area, and the Northshore District which will feature an extensive network of second-storey walkways connecting residents outwards to the sea.”
There are currently more than 30,800 flats in Punggol with an estimated HDB resident population of 92,500.
Notably, Punggol has witnessed six executive condominium (EC) projects launched over the last three years, and the last EC where HDB upgraders are not required to pay a resale levy, opened for booking earlier this month. The Amore (pictured below), developed by Keong Hong Holdings, is slated to be completed in 2018. Located in Punggol Central, it offers 378 units of two to five-bedroom unit configurations. 
Another Punggol development, Treasure Trove, holds a special building within the project. The Matilda House, the only historical bungalow left standing in Punggol, will be restored as a clubhouse for the condominium, after it had been abandoned for more than twenty years.
Pride of Punggol
Along with residential projects, Punggol is also seeing the rise of other types of developments. The award-winning My Waterway@Punggol (pictured), for instance, is an excellent location for residents to enjoy some recreational activities such as leisurely strolls and cycling.
There is also the water body at Punggol Promenade and the greenery of Punggol Town Park for a fresh breath of the outdoors. More green spaces and recreation facilities will be developed in the coming years for residents to enjoy an active and healthy lifestyle.
Punggol will also host a new $57 million waterfront SAFRA club which is expected to be ready in early 2016. Located along Sentul Crescent within the town centre, it will be integrated with the Punggol Waterway Park and consist of five storeys and house a suite of facilities for enrichment, recreation, fitness and entertainment.
Most interestingly, Punggol will soon be within easy reach of Coney Island. Also known as Pulau Serangoon, a portion of Coney Island is zoned for residential, sport and recreational use as part of the URA Master Plan 2014.
Piloting through Punggol
Even as Punggol is developing, its infrastructure will simultaneously catch up to ensure faster and easier accessibility within the area and to other parts of Singapore.
Two new MRT connections, the Cross Island Line (CRL) and the extension of the North-East Line (NEL) will be up by 2030, to serve the new Punggol Downtown. The Western LRT loop will also begin operations in tandem with upcoming developments
The CRL will connect many areas in the northeast of Singapore, including Ang Mo Kio and Punggol, to the eastern and western parts of Singapore.
To provide smoother connections to Tampines Expressway (TPE) for drivers, Punggol Way and Punggol Road will be improved. Punggol Place will also be enhanced.
Residents can also look forward to a new road linking Punggol Central to TPE and Kallang-Paya Lebar Expressway (KPE). The Punggol Semi-Expressway, which will be the main route for inter- and intra-town travel in the longer term, will increase east-west connectivity within the region.
Upcoming employment opportunities
Even with these enhancements, the truth is, Punggol residents don’t have to travel far to work an expanded mix of activities will be introduced, adding vibrancy to Punggol and opening up more job opportunities for residents.
For an area that used to be home to poultry and vegetable farms, Punggol’s redevelopment has not only come a long way from its roots but it offers Singaporeans a unique opportunity to experience a new waterfront living lifestyle.
Source: PropertyGuru (5 Feb 2015)

HDB resale prices edge up 0.6 per cent after year of declines - AsiaOne

After a year of consecutive monthly declines, Housing Board resale prices edged up 0.6 per cent last month, according to SRX Property flash figures yesterday.

But experts do not take this as a sign that the market is rebounding. Instead, they expect prices to continue sliding.

The last time HDB resale prices rose was in January last year. They have fallen 5.7 per cent since then.

"We cannot read the monthly price increase... as a sure sign of turnaround in HDB resale flat prices, as the increase was very marginal," said R'ST Research director Ong Kah Seng.
Said ERA Realty key executive officer Eugene Lim: "The increase has more to do with the up-and-down fluctuations that are associated with tracking prices on a monthly basis."

Last month's rise was driven by four- and five-room flats, with their prices increasing by 1.1 per cent and 1.5 per cent respectively.

This more than made up for a 0.9 per cent fall in three-room flat prices and a 0.6 per cent fall for executive flats.

Both mature and non-mature estates saw price increases, of 0.5 per cent and 0.7 per cent respectively.

The tepid uptick could be partly due to units sold at the Pinnacle@Duxton premium HDB project last month, said Mr Ong.

Units there have fetched prices ranging from $818,000 to $1.03 million and may have pulled up overall prices, he added.

But analysts see the overall downward trend continuing. Mr Ong expects prices to fall by up to 4 per cent in the first half, while HSR International Realtors expects falls of up to 1 per cent each quarter.

But sellers such as Madam Safiah, 50, hope last month's marginal climb in prices will not be an exception.

"Hopefully the prices will really go up. Last year they already came down a lot," said the housewife, who has been trying to sell since November. She had thought her four- room flat in Hougang could fetch $460,000, but now hopes to get $430,000 instead.

Resale volumes fell for the fourth straight month in January with 1,255 flats sold, down from 1,295 in December.

However, this was still 15.3 per cent more than the 1,088 units sold in January last year.
This year-on-year increase "is an encouraging sign that more buyers are entering the market as prices become more attractive", said HSR.

Noting that January and February are traditionally quiet months in the resale market due to Chinese New Year festivities, ERA's Mr Lim expects the pace of deals to pick up from next month.

"The pace we see in March to May will set the tone for the year... March, April and May are very important months for the HDB resale market," Mr Lim added.


Friday, Feb 06, 2015
The Straits Times

Source: AsiaOne

HDB resale prices up 0.6 per cent in January after falling for a year - AsiaOne

SINGAPORE - Housing Development Board (HDB) resale prices increased 0.6 per cent in January, according to a SRX Property flash report.

This is the first time since January 2014 that HDB resale prices have risen. When compared year-on-year, prices dipped 5.7 per cent from January last year.

Last month's increment was attributed to the price spike of 1.1 per cent and 1.5 per cent in four- and five-room flats respectively. This compensated for the 0.9 per cent and 0.6 per cent price drops for three-room and executive flats respectively.

According to SRX, resale prices in mature estates rose by 0.5 per cent while those in non-mature estates went up 0.7 per cent.

Although resale volume dropped 3.1 per cent in January from December's figure of 1,295, it was still 15.3 per cent higher than the 1,088 units sold last January.


Thursday, Feb 05, 2015
AsiaOne

Source: AsiaOne