More housing projects in the pipeline

Developers continued to launch new projects in May, after witnessing a 29 percent month-on-month increase in private home sales last month.

Two new housing projects are set to be released this week — Belysa, an executive condo (EC) project in Pasir Ris, and Terrasse, a private condo development in Hougang. Both projects have a leasehold tenure of 99 years.

The Belysa project comprises a 16-storey block and two 18-storey blocks. It features a three-bedroom 829 sq ft compact unit, with prices starting from S$574,000. It also includes a 1,335 sq ft four-bedroom apartment priced from S$882,000, while a four-bedroom suite, the most expensive unit in the development, costs S$952,000.

An experienced real estate consultant described the project’s S$670 psf average price as within his expected range, given that the project does not include compact units, which can be sold for a higher psf price.

Meanwhile, Terrasse will be launched later this week at an expected average price of around S$950 psf. The five-storey project will comprise 414 units, including one- to four-bedroom apartments, five-bedroom penthouses and 15 garden duplex units (extended across the ground and basement levels).

In addition, Soilbuild Group will be soft launching North Spring BizHub at Yishun Industrial Street 1 on 23 May. The seven-storey general and light industrial development will provide direct vehicular access to every level, for containers up to 40 feet in length.

The 60-year leasehold project will include 454 units ranging between 1,507 sq ft and 36,511 sq ft, with prices starting from S$478,000, or approximately S$311 psf.

Colliers International said that the units are suitable for businesses from general, light and clean industries, including printing and publishing, R&D, warehousing, engineering and manufacturing.

Source : PropertyGuru – 19 May 2011

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