HDB to redevelop Tanglin Halt and build integrated development
The brand-new incorporated project will likely consist of a hawker facility, market and polyclinic along with approximately 5,500 new residential flats, Senior Minister of State, Ministry of National Development and Ministry of Communications and Information Tan Kiat How introduced on Oct 19.
” The types of apartments may range from two-room flexi to four-room to cater to a wide range of buyers that want to stay in this landmark advancement. Prices for a four-room flat can start from $550,000 to as high as $720,000,” states Lee. The first of the PLH BTO job is the 973-unit Tanglin Halt Cascadia that was launched for sale this month.
Lee says much more apartments, together with brand-new commercial features and social and public facilities, are anticipated to start next year. This will certainly bring attraction to existing resale housing in the area, such as Commonwealth View, which is much demanded for its top place and scenic views. “There may be more million-dollar condos in Commonwealth View in the future.”
To be completed in 2 phases, the progression will likely be located at the previous Tanglin Halt Area Centre site, stated the minister in his address at the HDB Professional Engagement and Knowledge-sharing (PEAK) Forum. The past Commonwealth Drive Food Centre and continuing Tanglin Halt Market remain in the neighbourhood center.
Wong adds that Tanglin Halt Cascadia condos were marked up from $364,000 to $509,000 for three-room condos and $537,000 to $702,000 for four-room apartments before grants. “It is fairly feasible that new apartments at the future Tanglin Halt incorporated development can be rated slightly greater, granted its host of facilities inside the property, yet will still be much more affordable than prices in the resale market.”
Lee Sze Teck, Huttons Asia’s senior director of information analytics, states the Tanglin Halt integrated project will certainly be a new site in the location. “It is nice to consider that a few elements of the old food centre and market will be integrated into the new property development.”
Tanglin Halt estate, among one of Singapore’s first housing project estates in Queenstown, are going to be redeveloped into a new incorporated growth.
Wong Siew Ying, head of research study and content at PropNex, claims the Tanglin Halt Cascadia BTO project attracted 1,193 prospects, translating to an application level of 1.23 times. Wong states: “This was very mild, given the location’s city fringe location in the preferred Queenstown area. We believe the brand-new apartments at the Tanglin Halt integrated development must probably see a warmer action when they are introduced for sale, as buyers often tend to be drawn to incorporated developments.”
Lee adds that the new prime area real estate (PLH) and build-to-order (BTO) apartments might exceed 40 floors and may produce between 700 and 800 flats.
The improvement of Tanglin Halt estate will provide newer families to the area and infuse greater vibrancy within the neighbourhood, Wong incorporates.