More new homes in mature estates - Government says

By The Folks @PropTalk - April 25, 2011 No Comments

The Government has announced plans to inject thousands of new homes into mature estates. Under the plan, more than 10,000 new private and public homes will be built in Commonwealth, Queenstown and Bishan in the next 10 to 15 years.

The Government aims to use high-rise housing to help increase the population density in these areas.

Some undeveloped sites in the Bishan and Queenstown estates have been made available through the first half of this year's Government Land Sales (GLS) programme.

Two prime plots in Stirling Road have been set aside under the reserve list.

But this could also mean prices for private homes in those areas could be significantly higher with developers bidding competitively for a slice of the action.

In February, a plum site next to Bishan MRT station attracted 19 bids. The plot was acquired by CapitaLand for $550.1 million, or $869psf ppr.

The wife and I are quite convinced that the apparent spike in resale prices for projects such as Clover by the Park over the past 2 months can partly be attributed to the CapitaLand bid.

And speaking of the two Stirling Road plots, these bring back fond memories for yours truly, as it is in one of the 3-room HDB flats located on Parcel A that I have lived through my early childhood and primary school years.

The block I used to stay in (Block 175) was directly across the road from Queens (a condominium project completed in 2002). The 12-storey block sits on elevated ground and back in the old days before Queens, offers unblocked view even from the 5th floor. The block was demolished in 2006 along with several other blocks located behind it, and the plot became what is now known as Parcel A & B.
Stirling Road - Site Map



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