EDGEPROP Dec 31, 2018
As per this cover page article “Residential market to see spike in new launches”, in the pipeline for launch next year are about 55 to 60 projects, offering 17,000 to 18,000 new units.
Many of these sites are redevelopments n privatised HUDC estate purchased en bloc from 2H2017 to 1H2018. The biggest is Treasure at Tampines on the site of former Tampines Court (2,225 units).
According to Colliers’ Song, Tampines Court has limited competition in the locality. But owing to the sheer size of the project, it is likely to be priced competitively and still offer a compelling theme.
Being a condo project within the housing estate of a URA designated regional centre, Treasure at Tampines is rather affordable, on par with The Alps Residences and The Tapestry price of around $1,200 psf. Condominiums in OCR are typically much more affordable compared with new launches in RCR such as JadeScape at Bishan with 1,206 units and Parc Esta at Eunos with 1,399 units, price from $1,600 psf to $1,800 psf for a 2-bedroom unit.
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