Wednesday, November 14, 2012

Upcoming Aerospace Park to benefit Seletar Hills homes

Seletar Hills is expected to significantly benefit from the completion of the Seletar Aerospace Park in 2018, given its location right at the park’s doorstep, reported The Straits Times.

Apart from being strategically situated between major transport routes, the estate also predominantly comprises low-rise landed houses — mostly bungalows and semi-detached units — on freehold or 999-year leasehold land.

“The landed enclave is popular with buyers who buy over the land with the view of building their dream home on the plot,” said Lee Sze Teck, Senior Manager of Training, Research and Consultancy at DWG.

The uncompleted Luxus Hills was launched recently, offering semi-detached units and terrace homes (S$1,612 psf on average). Another uncompleted project is the fully sold Este Villa, comprising 121 unit strata landed homes.

Alan Cheong, Research Head at Savills, said that two condo projects, the 319-unit The Greenwich and the 276-unit Seletar Park Residence, have already been completed.

Meanwhile, prices of semi-detached units in the area rose 14 percent this year, while terrace home prices soared 49 percent. Condo prices rose by around 12 percent to about S$1,603 psf on average.

Moving forward, the nearby aerospace park being is expected to boost demand for residential and commercial properties in the area. It will attract more local and foreign professionals, who will in turn create leasing and buying potential for property within Seletar Hills, said Png Poh Soon, Head of Research and Consultancy at Knight Frank,

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