While Seletar itself is being designed and developed into the next regional centre, the surrounding areas of Sengkang and Punggol, even Yishun, have seen significant residential developments to facilitate the growth of jobs in Seletar.
As of February 2019, the prices for new BTO Fernvale Vines in Sengkang are as follows:
While BTOs make up the bulk of the residential components in Seletar’s borders, the private developers take advantage of the area’s growth by delivering arguably more affordable yet no less impressive condominiums.
In the past 12 months, these are the noteworthy projects that have been announced:
A collection of terraces, corner terraces and two semi-detached homes totaling 98, the 99-year leasehold Nim Collection has an average transaction of around SGD2.8M. The landed house development has an average psf value of SGD1,445. The lower estimates are likely a result of early discounts. Phase 1 saw transactions rise to around SGD2.9M and Phase 2 is expected to be higher.
The 99-year leasehold condominium was a surprise launch at the end of 2017 and in a year when new launches were scarce. The 735 unit condo was immediately popular, aided no doubt by its childcare centre and affordable launch prices of SGD546K for 1BR units. 274 units under SGD1M were sold while 14 between SGD1.6M and SGD1.9M also saw movement.
The freehold landed development with 900 landed homes is currently on its seventh phase of launch as part of its extensive 25 launch phases. Designed for multi-generational living, pries for Phase 6 hovered around SGD1,714 psf for the intermediate terrace, SGD1,479 psf for the corner terraces and SGD1,535 psf for the semi-ds.
While another freehold cluster development of landed homes, Belgravia Villas is a smaller and more intimate type of project, with 118 homes. Although a close competitor to Luxus Hills, Belgravia Villas’ psf average around SGD840 for intermediate terrace, SGD830 for corner and SGD877 for semi-ds. Of course, these were during its earlier selling phase in 2016, like Luxus Hills.