Analysts expect the 2,150 new flats in Bidadari, set to be launched for sale under the next Build-to-Order (BTO) exercise by the end of September, to come at a premium.
The BTO flats, comprising two- to five-room units, will be the first batch of HDB flats to be offered within the new estate. Priority will be extended to those whose parents live in Potong Pasir, Toa Payoh or within the 2km radius.
The area that was once a cemetery will eventually house around 10,000 residential units, community malls, a lake and a 10-hectare park. The new Bidadari estate will also be served by two MRT Stations – Potong Pasir and Woodleigh – on the North East Line.
“The nearest recent BTO in the vicinity was St George around the Boon Keng MRT station, which is just one stop away from Potong Pasir, where Bidadari is next to,” said ERA Realty key executive officer Eugene Lim in an interview with Channel NewsAsia.
“That was in September last year and the flats back then were launched, from S$328,000 for a three-room flat, and for a four-room flat, it started from about S$459,000,” he noted.
“So we would expect pricing for the flats in Bidadari to be in the range of, for a three-room flat, S$300,000 to S$350,000, while for a four-room flat, S$400,000 to S$450,000. As for the larger five-room flats, (it is expected) to be around S$600,000.”
According to the Channel NewsAsia report, analysts expect the Bidadari project to witness strong demand despite the history of the area as a cemetery and the possibility of it having a funeral parlour. Notably, the units will also be offered under the first BTO exercise to be launched after the income cap was increased to S$12,000.
Nikki De Guzman, Editor at CommercialGuru, edited this story. To contact her about this or other stories email nikki@propertyguru.com.sg.
