Rochor flats hot property?

Some housing analysts are predicting that HDB flats in Rochor Centre could become hot property now that they have been slated to make way for the North-South Expressway (NSE).

Residents have been offered a relocation package that includes priority for a new flat in Kallang.

This may appeal to those looking for a quicker way of buying into the Kallang area.

Such practices are not uncommon.

Housing analysts said such practices surfaced when the government carried out similar relocation programmes under the Selective En-bloc Redevelopment Scheme, which offered similar compensation packages as those offered to Rochor residents.

But analysts said potential buyers should think twice, as units in Rochor normally cost 10 to 20 per cent more, given their city location.

Lim Yong Hock, senior VP for PropNex, noted that recent resale data showed a three-room unit in the area went for S$470,000, with a cash premium of $50,000.

Tighter rules over the purchase of resale flats should also cause potential buyers to reconsider.

The HDB has suspended sales of Rochor Centre units for a month to give residents time to consider the relocation package before selling their units.

Source : Channel NewsAsia – 17 Nov 2011

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