New batch of HDB flats in Punggol

The first batch of flats in Punggol for this year was launched by HDB yesterday. Prices of the units are 10 to 16 percent less than the Punggol Regalia launch last December, mainly due to the design and location features.

A statement from HDB said the units are “further from the town centre and main transportation nodes” and quite smaller.

Considered as standard project, the Nautilus Punggol is composed of flats with basic features and minimal frills.

Four hundred thirteen units of 90-square metre four-roomers are offered in the launch with prices ranging from $228,000 to $274,000, and 106 units of 110-square metre five-roomers offered form $305,000 to $357,000.

Composed of eight blocks with 18 storeys each, the Nautilus is located on the suburb’s east side and quite far from the town centre of Punggol. The Coral Edge and Riviera LRT stations serve this project.

In contrast, the Punggol Regalia, which is located next to the MRT station of Punggol, is considered a premium project with prices ranging from $252,000 - $316,000 for unit with four rooms and $342,000 to $428,000 for units with five rooms.

Premium flats have better inside finishes and improved architectural designs.

Mohamed Ismail, chief executive of PropNex, said healthy demand is expected for Nautilus, though it “may not be as good as” the public’s response to the Woodlands project of HDB last month. Known as Champions Court, the development had 815 units, with five-room flats, studio apartments, etc.

Associate director Eugene Lim of ERA Asia-Pacific said Nautilus is “very attractively priced” despite its unappealing location compared to previous projects in Punggol.

However, in long term, the transformation of Punggol to a waterfront will attract fresh home owners, said Mr. Lim.

The Nautilus project will be made under the build-to-order scheme of HDB where flats are constructed only if a number of demands are achieved.

About 3,000 build-to-order flats is planned to be launched by HDB in before the middle of this year.
These will include over 1,400 small units, such as three-roomers, studio apartments, etc.

There will be new flats set to be constructed later this year as the HDB plans to build up the population of the suburb.

The Punggol Residences, located next to the MRT station of Punggol, has recently been marked as ‘under construction’ on the maps of Singapore Land Authority.

Seventy-two applications were received by the HDB for the 519 flats of Nautilus by 5:00 pm yesterday.

In contrast, 205 applications were attracted by Champions Court for their 815 flats during the first day of its launch.