3 Exciting Upcoming Residential Sites To Look For In The Near Future
- Ryan J
- February 6, 2024
- 4 min read
From old schools to former SERS sites, Singapore is constantly renewing its residential landscape (and increasing the supply) – and the latest upcoming batch is one to watch. It includes some hotspots like Clementi, as well as land parcels that are close to MRT stations; and while some of it is for private housing, there’s a good chance we may see HDB flats on these sites too. So if you looking to buy a home a few years from now (or planning to upgrade), these may be some locations to plan ahead for:
1. Next to Commonwealth MRT station
This was previously New Town Primary and Secondary schools. The site is about 7.6 hectares, and demolition works – which began in October last year – have mostly cleared it out.
What we’re waiting on right now is the government’s decision on a plot ratio. It’s quite likely that we’ll see some flats here though, as HDB has commented that it has agencies studying the plans (though there may be some private properties as well).
This site will see high demand, due to the proximity to Commonwealth MRT (EWL). This is one stop away from Buona Vista, which is where you’ll find The Star Vista (a major mall for the area), as well as access to Holland V and the tech/media hub of One-North.
Right across the road from this plot is the famed Tanglin Halt, which is seeing redevelopment. The construction of a new hawker centre, as well as a slew of new amenities, will benefit those living across the road as well. For the time being though, the vacated flats there are being used as interim rental homes till 2025 – this also gives us a sense of when this plot might become available, as it could be close to the time of Tanglin Halt’s revival.
Because Tanglin Halt had its plot ratio raised from 2.9 to 3.5, and the surrounding flats at Commonwealth Close are quite densely packed, the land parcel will likely be fairly high-density. And while there’s no guarantee that the parcel will be for HDB flats, we think a mix of private and HDB is quite likely – the nearby flats date back to 1967, so some renewal of public housing is badly needed in this area.
If there are HDB flats here, the last launch nearby – Tanglin Halt Cascadia – was under the Prime model; and we don’t see why a parcel right across the road from it wouldn’t be. It does, however, raise the possibility that HDB won’t want to churn out so many Prime flats in the same general area at once.
2. Near Redhill MRT station
This site is next to Crescent Girls’ School, and runs alongside the Alexandra Canal. This is a 1.5-hectare side zone for high-density residential (a GPS of 4.2). It’s estimated that about 530+ flats could fit here, or about 700 private condo units.
This site is within walking distance to Redhill MRT (EWL); and being two stops from Tanjong Pagar, and three stops from Raffles Place, any projects here will be a major draw to anyone who needs CBD access. Private properties here will be able to attract both families as well as investors, since there’s good access to schools (Queenstown Secondary and Alexandra Primary are also within one kilometre, besides Crescent Girls’ next door). If we do see HDB flats here, we’re confident they will fall under the Prime category, given the highly centralised location.
The area also has good amenities across the canal; the Redhill Food Centre is there, as are the plentiful food and entertainment options in Tiong Bahru. Couple that with the lack of new homes here over a long period, and we’re certain any flats here will be oversubscribed.
3. Near Clementi MRT
This is a 1.6 hectare site at Clementi Close; if you were a market watcher back in the early 2000s, you may remember this as a pretty high-profile SERS site at the time. The site’s already high GPR is now raised from 4.3 to 5, making it an extremely high-density area. Right now, we’ve heard estimates of anywhere between 650 to 700+ new homes (for flats) or as many as 1,000 new private condo units.
This site is bound to be sought after by families. It’s within walking distance of Clementi MRT, which is also near the always crowded Clementi Mall. It’s also within the enrolment distance of multiple schools, including Clementi Primary, Pei Tong Primary, Nan Hua Primary, Clementi Town, and Tanglin Secondary. We also believe it to be barely in range of Nan Hua High, but we can’t absolutely verify that right now.
While the surrounding area is quite busy and congested – this is the heart of Clementi – there’s practically any amenity you could need within walking distance. It’s almost certain that the flats here will be Plus mode flats (flats that are next to the train station or in a central part of a fringe neighbourhood tend to be in this category; it’s only flats that are closer to the Central Area which tend to get Prime classification).
Note that if so, this is likely to push up prices of nearby flats in Clementi Close, which share the same locational advantage, but don’t have Plus model restrictions.
These sites may not be up right away; we’d estimate sometime around 2025, and there’s already a healthy number of launches incoming. This is especially so for HDB, as they have just ramped up supply in the past two years. BTO applications have been slowing, to the effect that there will be 3 BTO launches in 2024 instead of 4 – so we’d expect them to slow down a bit now. Still, for some of you, that may be perfect timing for your upgrading or your first home – so do keep an eye out.
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