I read the news on Dawson estate (Queenstown) the other day. HDB is planning to build 1,800 new flats in the area which will be designed by award winnning architects. Sounds really good and promising to me considering the location of the place and you know that visually, it will look nice. However, the only questions would be,
1) The costs. I believe it will definitely be a premium because of its location unless HDB has other cost effective measures in place but I doubt it. Plus the location will be a reason why the selling price can be position at a higher level. Just look at the ones at Boon Keng.
2) Popularity of the flats. People are easily excited about the new projects from HDB. Especially if it’s a good location. i.e. outside of punggol/sengkang/boonlay… everyone has an interest of it. Because of the convenience and distance to the city. For me, I’m used to living in central parts hence the thought of moving north east… doesn’t sound too appealing to me. I prefer to move closer to the city than away from it. Judging from the past, it seemed like most of these ‘premium’ flats will receive overwhelming response however the actual take-up rate is much lower. Reasons from the developers… Does not meet or exceed criteria (e.g. > $8K income) or market condition is not very favourable at the moment so everyone is tightening their budget and more conscious of their big purchase.
It would be interesting to the see how the response from the public will be coming 3rd Qtr next yr when HDB puts those flats on sale. I understand that there is some exhibition going on at the atrium on how you can customise your flats… well, I can’t see for it myself at this time but I certainly do have interest in those flats. Will bear that in mind as one of my “TO-DO” items. Of course, there might be other projects coming along the way just like the recent Central@AMK which attracted alot of attention as well and so are the upcoming ones like Bishan, Toa Payoh… which can be quite promising too but at the end of the day, it’s all about the initial deposit. Once you get past that… everything will be a breeze abeit it will be a long journey of mortgage repayment that’s all.
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