Author: My Exclusive Condo

New Lentor Hills Estate 

Lentor Hills Estate is a new and tranquil residential area located in District 26 of Singapore. This peaceful neighborhood is surrounded by predominantly landed houses, low to mid-rise condominiums, and natural habitats. It falls under the Ang Mo Kio Planning Area, part of the URA North-East Region rejuvenation plan. The estate is adjacent to the Central Water Catchment area, where you can explore various parks and nature reserves and, including Lower and Upper Pierce Reservoir Park, Lower and Upper Seletar Reservoir Park, MacRitchie Reservoir, Thomson Nature Park and Ang Mo Kio-Bishan Park. Nature enthusiasts often visit this area for outdoor activities and to escape the hustle and bustle of the city. It is bordered by Teacher’s Housing Estate to the south and Sindo Industrial Estate to the west.

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As per the stats obtained from the month of October, rents for private Singapore Condo and HDB flats increased in October with the rise in demand. This is possibly the outcome of recently implemented cooling measures as more tenants these days are looking forward to HDB flats at comparatively lower rental prices.

An exponential rise of 1.8% in HDB rents has been experienced in the market during October month. However, it was 3.3% in the month of September. On the other side, the executive flats are experiencing a rise of 6.1% in rents.
A larger number of HDB flats were rented in the month of October. The volume has further increased by 10.3% leading to the estimated number of 1995 units in comparison to only 1809 units rented out in September.

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As per a recent market update for November month, prices of HDB resale flats experienced a hike for the 29th straight month. As a result, a higher number of units exchanged hands with the recently applied cooling measures. If we compare the trends of October month with November month, the prices of HDB resale flats grew much faster with a change from 0.5% to 0.6%. On yearly basis, prices increased by almost 10%.

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The barrier-free linkways and communal spaces at transport nodes and neighborhood center at Waterfront I & II of Northshore provide residents with the unique experience of seafront living without compromising accessibility and comfort. These features proved to be extremely useful to promote this project and it ultimately helped to win Building & Construction Authority Award for excellent design.

The built-to-order project at Punggol housing estate is one of the four winning constructions. Note that all these sites received the highest universal design rating for their innovative appeal. The winners of this award presented universal design principles for creating a highly accessible and inclusive environment, especially for elders, children, and people with disabilities.

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Almost 31ha of forested land in Bedok is expected to receive clearance by the end of 2029 to have a Bayshore Housing development that is expected to be ready by the middle of 2030. As per the recent environmental assessment report from Housing Board, the target areas have conservation value ranging from minor to moderate – mainly due to the lesser number of species with conservation, species with richness, and enhanced dominance of flora with non-native significance.

The reports reveal that the areas targeted for clearance are listed among the last substantial forests from eastern Singapore. Moreover, the construction activities in this area are expected to leave some irreversible effects, mainly due to the considerable loss of bird species and plants.

DHI Water & Environment consultancy conducted a study that included baseline surveys from April 25 to July 21 in the year 2022. It covered approximately 31.4 ha of a total development site of 60 ha which is equivalent to 84 football fields. This complete construction site is linked to Upper East Coast Road in the north direction; however, the south side is connected to East Coast Parkway. The areas that are not studied in this survey include some highly vegetated sites that are now cleared for leading MRT station-related construction activities.

The forested land of almost 31ha is expected to be cleared for the Bayshore area housing project and the residents here will be served by two main MRT stations in the coming years. The recent environmental survey was conducted to understand the impact of upcoming developments along with mitigation measures.

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After the recent cooling measures applied in the Singapore housing market, the rental prices for private apartments & housing board flats have grown fast and the scenario indicates strong pressure on the rental market during the coming months. Studies reveal that HDB rental properties have climbed by almost 3.2% during the month of September which is comparatively higher than 2.4% rise reported in August. This report is presented with reference to both non-mature as well as mature estates in the Singapore housing area.
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The prices for smaller as well as four-room housing board resale flats are to be monitored by experts if any hike is observed after cooling measures. This is due to the fact that some aspiring analysts and home buyers have expressed major concern related to the curbs posed on the owner’s private properties may further moderate the demands for larger HDB resale flats & five-room apartments. These scenarios may increase demands and as a result, the prices for smaller resale flats and four-room apartments may also increase.

Right from September 30th, the owners of private properties need to wait for almost 15 months after the sale of their current home to buy a non-subsidized resale flat at the Housing Board. However, owners that have crossed the age gap of 55 and above may move from private accommodations to smaller resale flats or four-room flats. If we consider the wait-out period of 15 months, when there is a temporary measure with moderate demand, it is important to recognize that there are more seniors that need to look for retirement adequacy. With this, it is important to provide them avenues and options for the right size condos and four-room apartments or smaller HDB flats that may serve their needs better.

Mr. Lee, National Development Minister, also stated that a large number of owners from private properties are now looking forward to buying HDB resale flats and this count has doubled within the last two years. This scenario has a direct impact on the property cycle, especially when they try to sell private properties while moving to the HDB resale market as in this situation they can pay higher cash to close the deals fast.

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